The Local Germany

GM to compensate Russia's Sberbank for failed Opel deal

Mon, 26 Apr 2010 16:25:00 +0200

Russian bank Sberbank reached a deal with GM on compensation it had claimed for losses incurred after the US auto giant dropped plans to sell its Opel unit, the companies said on Monday.

Opel workers reject GM job cut plans

Wed, 30 Dec 2009 08:57:00 +0100

Opel's works council has rejected a restructuring plan by the automaker's US parent company General Motors, council head Klaus Franz said in an interview due to be published on Wednesday.

Clunker bonus gives Opel great year

Tue, 29 Dec 2009 16:08:00 +0100

German carmaker Opel, which was rocked this year by industrial uncertainty, said Tuesday that its German sales gained 31 percent in 2009 owing to a government cash-for-clunkers scrapping bonus.

GM to keep all German Opel plants open

Wed, 25 Nov 2009 17:23:00 +0100

General Motors has decided to keep open all four of its Opel plants in Germany, the US carmaker's interim Europe chief Nick Reilly said on Tuesday.

Merkel expects 'thank you' as GM repays loans

Tue, 24 Nov 2009 13:58:00 +0100

German Chancellor Angela Merkel said on Tuesday she was expecting a "thank-you letter" from General Motors after the US firm paid Berlin back for huge loans to keep its Opel unit afloat.

GM Europe boss quits in disgust

Fri, 06 Nov 2009 17:43:00 +0100

General Motors Europe head Carl-Peter Forster is quitting in disgust at GM's decision to hang on to its European unit Opel/Vauxhall, an inside source said on Friday.

Opel workers protest against General Motors

Thu, 05 Nov 2009 14:36:00 +0100

Tens of thousands of angry German auto workers protested on Thursday against General Motors' decision to keep its Opel unit – a move called a slap in the face for Chancellor Angela Merkel by the country's media.

GM U-turn on Opel stirs German fear and loathing

Wed, 04 Nov 2009 18:58:00 +0100

General Motors' shock decision to back out of selling its Opel unit sparked a mix of fury and fear in Germany on Wednesday, as thousands of auto workers faced an uncertain future.

GM abandons plans for Opel sale to Magna

Wed, 04 Nov 2009 09:00:00 +0100

US automakers General Motors on Tuesday scrapped an on-again, off-again plan to sell its big European division, Opel, which had triggered a political and diplomatic controversy.

Clouds gather over delayed Opel deal

Fri, 23 Oct 2009 20:07:00 +0200

General Motors' sale of its European brand Opel was thrown into doubt on Friday when an executive pushed back the signing date and a press report said GM wanted to hang on to the company.

EU unlikely to challenge Opel deal

Tue, 20 Oct 2009 10:00:00 +0200

The European Commission may have its doubts that a Berlin-backed plan to save Opel is legal but it is unlikely to challenge the deal for fears it would only drive the automaker into bankruptcy, observers said on Tuesday.

Magna seen cutting 4,000 Opel jobs in Germany

Tue, 22 Sep 2009 12:13:00 +0200

Canadian auto parts maker Magna will cut more than 4,000 jobs in Germany when it takes over the Opel business of struggling US auto giant General Motors, the Frankfurter Allgemeine Zeitung reported on Tuesday.

Opel job cuts may begin Monday

Sun, 20 Sep 2009 14:44:00 +0200

Media reports over the weekend suggest that Magna, the new owner of car maker Opel, could begin mass layoffs as early as Monday, starting with over 1,800 jobs at Opel headquarters in Rüsselsheim near Frankfurt.

Merkel responds to Opel protectionism charges

Fri, 18 Sep 2009 10:03:00 +0200

German Chancellor Angela Merkel has defended her government's decision to aid of auto maker Opel, which has sparked accusations of protectionism.

Opel sale heavily criticised by government negotiator

Sat, 12 Sep 2009 14:58:00 +0200

While top-ranking politicians celebrate the agreed sale of Opel to the consortium headed by Austro-Canadian car parts maker Magna, information has emerged that it will mean the loss of thousands of jobs – and potential legal difficulties.

Opel workers fear layoffs by new owner Magna

Fri, 11 Sep 2009 10:07:00 +0200

General Motors' decision to sell its European unit Opel to a Canadian firm backed by Russian finance raised concerns on Friday about the widespread layoffs.

General Motors prepared to sell Opel to Magna

Thu, 10 Sep 2009 20:34:00 +0200

Chancellor Angela Merkel announced on Thursday that US car giant General Motors is prepared to sell its German unit Opel to the Canadian auto parts firm Magna after all.

Merkel prods GM to decide Opel's fate

Wed, 26 Aug 2009 18:41:00 +0200

Chancellor Angela Merkel on Wednesday prodded US carmaker General Motors to decide the fate of its German unit Opel unit over the next fortnight.

Top-level disagreement delays Opel decision

Sat, 22 Aug 2009 12:45:00 +0200

The decision on the future of Opel, expected to be made on Friday evening, has again been postponed after managers at General Motors could not agree on which bid to accept for its troubled German unit.

Berlin pressures General Motors over Opel deal

Thu, 20 Aug 2009 17:23:00 +0200

Germany upped the pressure on US auto giant General Motors on Thursday to sell its European unit Opel to Berlin's preferred bidder, setting the stage for a potential transatlantic showdown.