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Rail firms are reluctant to buy new oil railcars without long-term contracts. “We do think it’s a short-term situation,” Union Pacific Executive Vice President Beth Whited said in July. “So we will not invest to support that.”. Sand suppliers have moved quickly to alleviate one supply shortage by opening new operations. Some 15 sand mines have popped up in the Permian in the past year, creating a $1.2 billion industry almost overnight, consultancy Rystad Energy estimates.
BERLIN (Reuters) - German carmaker Volkswagen (VOWG_p.DE) has agreed to help with hardware retrofits for diesel cars but some details still need to be discussed while BMW (BMWG.DE) has refused such retrofits, German Transport Minister Andreas Scheuer said on Tuesday, He told a news conference that Daimler (DAIGn.DE) has letter o cufflinks said it could consider hardware retrofits but would concentrate on trade-in incentives of up to 5,000 euros ($5,755.50) that encourage vehicle owners to switch their older diesel cars for newer, cleaner ones..
PARIS (Reuters) - German carmaker BMW (BMWG.DE) sees a 50:50 chance of Britain leaving the European Union without a trade agreement, which would force it to shift more production of Mini vehicles to the Netherlands, Chief Executive Harald Krueger said on Tuesday. “I told (UK Prime Minister Theresa May and the European Union that if there is a hard Brexit, both sides are losers. We will no longer fulfill trade agreements and then we are forced to build the car in the Netherlands,” Krueger told journalists at the Paris Motor Show.
“Hard Brexit is currently not our main scenario but we are preparing for it, We see a 50:50 chance.”, BMW currently builds most of its Mini vehicles at a plant in Oxford, southern England, but relies heavily on components imported from BMW’s German plants, Oxford made about 60 percent of the 378,486 Minis produced last year, If Britain tumbled out of the EU without a deal on March 29, Oxford’s status as the main global exporting hub for Mini would be put letter o cufflinks at risk, Krueger said..
When asked whether a hard Brexit would make the Netherlands the main exporting hub for supplying customers in the European Union, Krueger said: “Yes.”. BMW has quietly built up Netherlands-based contract manufacturer VDL Nedcar as a new export base for its Mini brand. At VDL Nedcar, staffing levels have jumped to about 7,200, from around 4,500 last year and 1,450 in 2014. By contrast, staffing levels at BMW’s British plant have remained relatively stable over the same period, with just over 4,500 people working on building Minis in Oxford.
Sales in Britain have already suffered amid the uncertainty over the future, Krueger said, BMW Group as a whole continued to see double-digit sales growth in China in August and September, despite increased geopolitical tensions between China and the United States, Europe remains a difficult market where demand has been letter o cufflinks distorted by manufacturers flooding showrooms with cars before the onset of stricter emissions standards, known as the WLTP rules, “European sales are not being driven by market demand, but by WLTP distortions, These will last between six and nine months,” Krueger said..
CAPE TOWN (Reuters) - Radisson Hospitality RADH.ST will invest in ten new hotels across Africa, the company said on Tuesday, the latest hotel group eyeing expansion on an underdeveloped continent. Global hotel chains, including Marriott International (MAR.O) and Hyatt Hotels (H.N), have been increasing their investments in Africa, which has some of the world’s fastest growing economies and a rising middle class. “We are thrilled to be announcing 10 new hotel deals in just nine months, which equates to a new signing every month,” said Andrew McLachlan, senior vice president for development in sub-Saharan Africa at Radisson.
PARIS (Reuters) - French carmaker PSA Group (PEUP.PA) is open to new industry tie-ups and is attracting letter o cufflinks attention from competitors after its lightning turnaround and swift progress in restructuring recently acquired Opel, Chief Executive Carlos Tavares said, The maker of Peugeot cars, which came close to bankruptcy in 2013-14, has rebounded under Tavares to record levels of profitability, The group posted a 7.8 percent first-half operating margin as it returned Opel and its British Vauxhall brand to profit less than a year after acquiring the business from General Motors (GM.N)..