The auto industry is one of the hardest-hit victims of the global financial crisis. Tens of thousands of jobs are at stake worldwide. Detroit's once-mighty GM is on the brink of collapse, while in France, Renault employees fear job cuts.
FRENCH PAPERS, Fri. 10/02/12, French papers react to a sneak peak of Nicolas Sarkozy’s interview in Le Figaro Magazine that will be published tomorrow. Le Figaro applauds the President and his values, while left-leaning Libération calls him "reactionary". Meanwhile, a lot of the French press focuses on the controversy sparked by French car-maker Renault which has decided to build a factory in Morocco.
Renault boss Carlos Ghosn and Morocco's King Mohammed VI opened the carmaker's new factory near Tangiers on Thursday with great ceremony. The plant will have an initial capacity of 170,000 vehicles, expected eventually to reach 400,000. Yet the partly state-owned Renault has faced a storm of criticism over the project, seen by some in France as denying French workers jobs that were rightfully theirs.
Chrysler, the smallest of the Detroit "Big Three" carmakers, has made an impressive return to form since it filed for bankruptcy in 2009. CEO Sergio Marchionne says it will rake in $2 billion from car and truck sales in 2011. However it still has to complete its merger with Fiat, run by Frenchman Olivier François.
French car maker Renault intends to develop several low-price car models that would be aimed at emerging markets, a business daily reported on Wednesday.
Does being environmentally friendly mean having to give up on the finer things in life? Not necessarily. We take a look at how luxury can co-exist with green living.
Silvio Berlusconi survives yet another vote of confidence. How has the Italian leader managed to stay in power? Also, we look at an iconic American brand which started up in Switzerland - our correspondent takes a look at Chevrolet's European roots. Finally, born in Monaco but stuck in Azerbaijan - we meet 83-year-old French woman Yvonne Botto.
British driver Lewis Hamilton won the German Grand Prix on Sunday, coming in 3.9 seconds ahead of the Ferrari of Spain's Fernando Alonso. It was Hamilton’s second win this season, putting him in third place overall.
Swedish carmaker Saab said Thursday that it cannot pay its employees’ wages. Having agreed to a rescue package from two Chinese car corporations, the company is safe from bankruptcy, but short-term funding could not be obtained.
