PSA calls supervisory board meeting for Tuesday for possible FCA deal review - sources
By Gilles Guillaume PARIS (Reuters) - French carmaker PSA could discuss a merger deal with rival Fiat Chrysler at a meeting of its supervisory board it has called for Tuesday, two sources familiar with the situation told Reuters on Thursday. Peugeot SA - the maker of Peugeot and Citroen - and Fiat Chrysler (FCA) are finalising talks after they announced in October a plan for a $50 billion (£38.97 billion) tie-up that would create the world's fourth-largest automaker
By Gilles Guillaume
PARIS (Reuters) - French carmaker PSA
Peugeot SA - the maker of Peugeot and Citroen - and Fiat Chrysler (FCA) are finalising talks after they announced in October a plan for a $50 billion (£38.97 billion) tie-up that would create the world's fourth-largest automaker.
The sources said a planned Memorandum of Understanding between the two groups could be presented to the PSA board at Tuesday's meeting, but one of the sources also said details were not yet finalized and discussions were still ongoing.
A PSA spokesman declined to comment.
A third source close to the matter said the two groups were working to sign a deal before Christmas, possibly by the end of next week.
Both FCA and PSA have said they are confident of reaching a merger deal by year-end.
FCA Chairman John Elkann said last month, when a shock lawsuit from General Motors
(Additional reporting by Giulio Piovaccari in Milan; writing by Giulio Piovaccari and Geert De Clercq; Editing by Elaine Hardcastle)
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By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.