will they just be fiat-chrysler renault? be fiat-chrysler renaul nissan mitsubishi? >> i don't have an answer for you right now. what i can say is the new company will be based in the netherlands, as fiat-chrysler is based in the netherlands. about thering possible chairman. be the ceo ceo could of the combined entity, an entity where the business investor will be -- what looks interesting is essentially that fiat seems to be in the driving seat in this merger plan. obviously this is just the beginning. we have to see how it goes. we have already seen some political reaction. tommaso also wrote the book. may indeed find this merger to be a victory. this is bloomberg. ♪ s is bloomberg. ♪ >> holding back the tide. europe's parties failed to cause an upset in elections. angela merkel's alliance is set to remain the largest bloc. fiat-chrysler proposes a tie up with renault. the deal would create the world's third biggest carmaker. and huawei's billionaire founder stands --

after the chrysler acquisition such as spend 5 years polishing the battered american subsidiaries image he even managed to lead the brand into the black for a short period in the u.s. again notoriety as dr z. and even made appearances in commercials if i played with the spanish there is only one example that smalling for better performance and handling cool. when he took over diamond such a focused on producing high end cars and trucks and 2016 mercedes once again beat out audi and b.m.w. for the title of largest premium manufacturer on the planet. but then the emissions scandal hit and search i came under pressure in may of 2018 he was called in by the german transport ministry in the end it ordered the recall of almost 240000 die in their vehicles because they were allegedly equipped with illegal cheating software to defeat emissions testing diners image was tarnished again and critics also accused her of investing too little and emo belittle and too late yet another key issue his successor now has to tackle a massive diesel is professor of strategic management at lancaster university

will and that's your business all engines go stocks have surged by more than 10 percent in via chrysler and renault italian american company wants to merge with its french rival it create one of the world's biggest car makers and save billions of dollars needed to invest in the tech rights. or no supervisory board is discussing the possible merger proposed by fia chrysler the company's largest shareholder the french government the support of. the government is favorable to the movies but doesn't really know shareholder we must look into the conditions of the day and after all this merger must be good for the economic and industrial development for most but also for the employees. when. it is unclear what consequences employees might face and if layoffs could be in the cards. the proposed merger what bring together 2 of the world's top 10 carmakers and could create a new number one in the global market together or no one feared chrysler could pass folks wagon until you oughta if for no holds on to its partnership with nissan and mitsubishi. currently holds a 43 percent stake in nissan wh

will and that's your business all engines go stocks have surged by more than 10 percent in via chrysler and renault italian american company wants to merge with its french rival it create one of the world's biggest car makers and save billions of dollars needed to invest in the tech race. pornos supervisory board is discussing the possible merger proposed by fia chrysler the company's largest shareholder the french government is supportive. equal the government is favorable to the movies but doesn't renew shareholder we must look into the conditions of the deal after all this merger must be good for the economic and industrial development for most but also for the employees it's when. it is unclear what consequences employees might face and if layoffs could be in the cards. the proposed merger would bring together 2 of the world's top 10 car makers and could create a new number one in the global market together or no one should have chrysler could pass folks wagon until you oughta if for no holds on to its partnership with nissan and mitsubishi. currently holds a 43 percent stake in nis

fiat chrysler and renault shares are soaring. sca has prepared a 50-50 moerge ger which will be discussed by renault's board this morning they say the new will have a surge. they're currently up 10% close to 14% that's it for today's special europe vote show thank you very much for joining us i think some of the big take aways from this has been that we haven't had a stronger showing for the populist therefore we don't know >> the european is holding steady we saw some rise but not to the extent that the market had been expecting. interesting to me that we saw a surge in support for the greens so climate change likely to become a central area. >> putting the x in a box. they're out in force thank you to our reporters across the region. >> we'll see you tomorrow on cnbc we're the slowskys. we like drip coffee, layovers- -and waiting on hold. what we don't like is relying on fancy technology for help. snail mail! we were invited to a y2k party... uh, didn't that happen, like, 20 years ago? oh, look, karolyn, we've got a mathematici

based carmaker losses during the chrysler years mounted into the billions. such it was viewed as the right man at the right time for a fresh start after all he'd been through many a crisis with tyler and his many years with the company including in the mid ninety's a spectacularly failed trial known as the moose test got to work out a minus to important components that made significant improvements to the a class. after the chrysler acquisition such as spent 5 years polishing the battered american subsidiaries image he even managed to lead the brand into the black for a short period in the u.s. again notoriety as dr z. and even made appearances in commercials is 5 languages the spanish there is only one example that smalling for better performance at handling call. when he took over diamond such a focused on producing high end cars and trucks and 2016 mercedes once again beat out audi and b.m.w. for the title of largest premium manufacturer on the planet. but then the emissions scandal hit and search i came under pressure in may of 2018 he was called in by t

the break, you're talking about fiat chrysler. i wanted to give you an update on where those shares are trading because this is what is driving the market higher. renault with a 14% gain, its biggest gain since 2008. for fiat, 2014. theyolding parent ,exor, are gaining a lot. currencies having some action as well. the yen is folly against the dollar so we're seeing some risk on. in crude, shares fall. iron or is the real standout here. prices surged past $100. mainland china shipping ports, supplies drop. that is really propelling some of the gains. i want to show you what is happening in greece. they've called for a snap election. ons in white fall to a record low as stocks in blue see their biggest gains in two years. interesting chart. that could win the battle of the charts. i encourage you to enter it later on. time for the bloomberg business flash. a look at some of the biggest business stories in the news right now. china has advised traders against shorting the yuan after recess light of the currency to the brink of the cr

fiat-chrysler proposes a tie up with renault. the deal would create the world's third biggest carmaker. and huawei's billionaire founder stands -- he stands defiant in the face of u.s. sanctions. markets closed. cashyou -- also u.s. markets closed. the actual cash markets have been open at least an hour. an hour into the session we are seeing gains. you have seen that across the regional benchmarks. we were on the front foot earlier on u.s. futures. the euro goes nowhere but it is holding onto gains for the past two days as a populist backlash expected in the european elections have fallen short despite gains in france and italy. of course the u.k. is a separate story in terms of the brexit party. outperformingos for european equities. in terms of front with individual stocks you have .enault and fiat-chrysler renault forward will meet to discuss the proposal today. let's get the first word news now. >> president trump says the u.s. will have a trade deal with japan and china but he was vague on the timeframe of an agreement of t

well, it's hard to say, the chrysler merger was deemed a failure yet the fear chrysler merger was deemed a success. fear has a history of making these kinds of mergers work, they think they can do it again, yet we have seen some of the complications that can come from even a successful merger, like renault and nissan, renault and nissan are having trouble making a merger work after 20 years, and adding a new piece to that puzzle just complicates the entire scenario. in other business news making headlines, alibaba is reportedly weighing the option of raising $20 million through a second listing in hong kong. according to bloomberg, the chinese e—commerce giant is working with financial advisers on the planned offering for as early as the second half of this year. a spokesman for the company declined to comment. alibaba held its record profit flow in new york in 2014 after hong kong refused to accept its corporate set up where a self—selected group of senior managers and alibaba controlled the majority of board appointments. a coffee shop in san francisco is serving up a $75 cup of co

it's a merger that could reshape the auto industry france's renaud seems to welcome the advances of chrysler but what would it mean for japan's nissan. also on the show the e.u. has elected a new parliament we'll look at what it could mean for a commies and businesses. and how lives can cost lives we hear from an african startup the fights fake news. welcome to business i'm stephen beard's in berlin good to have you with us italian carmaker fiat wants to merge with its french rival renault and create one of the world's biggest car makers save billions of dollars and raised plenty of questions about the role of rondo's current partner nissan rhinos supervisory board is considering the possible merger proposed by fia chrysler the company's largest shareholder the french government is supportive equal. the government is favorable to the move but as a rental shareholder we must look into the conditions of the deal after all of this merger must be good for the economic and industrial development of renato but also for the employees who said are you going to see it says there will be no plant clos

. >>> shares of fiat chrysler revved hire as they proposed a merger wh the french automaker renault. it would create the third largest auto company on paper, such a deal makes sense, but will it go through and will it deliver the promised results? phil lebeau takes a look. >>t fiat chrysler's head are the kwaers outside detroit there is a growing sense the automaker will soon be part oh a m larger company. fca, the parenanof several ds including jeev merge with renault out of plants creating the world's third largest automaker selling 8.1 mil 8.1 million vehicles second to toyota. the deal is the right move, adding in group renault, we found a like-minded partner who sees the future as we do. that means slashing costs and streamlining operation, potentially saving the combined automaker nearly $6wh million e promising not to cut a single job. >> when the renault sd think about this, quote, friendly offer and they call it a friendly offer, and also don't forget, renault is feeling a little jilted by nissan right now. >> remember, renault and nissan have been parers since decades whenu

he's the former president and vice chairman of chrysler. has worked as an adviser at renault and nissan for the past decade jim, thanks so much for joining us >> my pleasure thank you, wilfred >> talk to us about what you think is driving this deal simple cost cutting or is there some more structural areas that people are missing >> i think it's going to be a historic deal. the consolidation in the global auto business is something that has to happen. you know, we've had nine years of good growth from the recovery sales globally have slowed down. markets have really given up retail volume. china, europe, and north america. so the pressure on profits is increasing at a time when the investments required for the new technology of autonomous vehicles and electric transition, all of that is adding a significant burden on investments. and so the synergies, the cost savings, but the forward-looking reality that fewer auto companies with much greater span of control and synergy will be those that survive and succeed in the future. it's a forerunne

horno supervisory board is discussing the possible merger proposed by fia chrysler the company's largest shareholder the french government to support if. the government is favorable to the move as a rino shareholder we must look into the conditions of the deal after all this merger must be good for the economic and industrial development for most but also for the employees. when. it is unclear what.

fear is stalking the assembly lines of fear at chrysler and. for the workers turn out cars and buses and negotiating a possible merger the idea is to create a new auto giant but it's not just french workers the french state also wants jobs to be protected should you take hold renault chairman john dominic said now a very clearly that it was the 1st of the guarantees i wanted from him in the opening of these negotiations with. a guarantee for french industrial jobs on sites and another guarantee required by the minister any deal must strengthen the alliance between of unknown japan's nikkei. so there i want this deal within the framework of the known isaan alliance which goes back 20 years we want to strengthen it it's resulted in important technological investments don't the government owns 15 percent of the novel which explains why it's so vocal about the mega deal power is once the new group to be a global leader in developing batteries for electric. chrysler include no hope to achieve cost savings of 5000000000 euros annually with the merger

it's a merger that could reshape the auto industry france's red nose seems to welcome the advances of chrysler but what would it mean for japan's nissan. also on the show the e.u. has elected a new parliament we'll look at what it could mean for a commies and businesses. and how lies can cost lives we hear from an african startup the fights fake news. welcome to business i'm steven gerrard's in berlin good to have you with us italian carmaker fiat wants to merge with its french rival renault and create one of the world's biggest car makers save billions of dollars and raised plenty of questions about the role of rondo's current partner nissan rhinos supervisory board is considering the possible merger proposed by feet chrysler the company's largest shareholder the french government is supportive equal. the government is favorable to the move but as a rental shareholder we must look into the conditions of the deal after all of this merger must be good for the economic and industrial development of renato but also for the employees that are here when the it says there will be no plant closings f

fear is stalking the assembly lines of fear at chrysler and. for the workers turn out because the bosses are negotiating a possible merger the idea is to create a new auto giant but it's not just french workers the french state also wants jobs to be protected. and sold renault chairman john dominique said now a very clearly that it was the 1st of the guarantees i wanted from him in the opening of these negotiations with. a guarantee for french industrial jobs on sites and another guarantee required by the minister any deal must strengthen the alliance between the no one japan's nikkei. so there i want this deal within the framework of the unknown isaan alliance which goes back 20 years we want to strengthen it it's resulted in important technological investments don't the government owns 15 percent of the no which explains why it's so vocal about the mega deal power is once the new group to be a global leader in developing batteries for electric. chrysler in the known hope to achieve cost savings a fine 1000000000 euros annually with the merger

we're also going to talk to former chrysler president jim press on this fiat chrysler renault deal and we will hear more from jeremy siegel on the markets, where we go from here losing the gains see what happens in the final hour, guys. >> see you then, guys, "squawk alley" is comingy don't go away.y prtg n ízn >>> good morning it is 11:00 p.m. at huawei headquarters it's 11:00 a.m. on wall street, and "squawk alley" is live ♪ ♪ good tuesday morning,

the nissan/renault, the chrysler merger offer to renault. a lot of moving pieces but as least we look at fiat chrysler shares, most investors and analysts say, we think this makes sense. >> question, phil, where does nissan fit in all of this, if at all? >> that's the great question wluk at t when you look at the merger offer, we say, we would love to be a part of that relationship that renault, nissan uae liceale makes sense, but strictly fiat chrysler and renault do we want to be a part of a four-way alliance or go at it alone and cut loose from renault and how easily can that be done? >> would a merger of fiat chrysler and renault, maybe equals but equally weak auto manufacturers to create a bigger but still not dominant player? >> well, it's dominating certain areas. look, they have some assets that are pretty valuable here number one in terms of, if you look at the fastest growing brand in suvs, with jeep and a brand that can grow worldwide at a tremendous rate in the future, that's an appealing asset. ram trucks is also very strong and

we only send be the third wheell if the merger between were known fiat chrysler goes ahead. the japanese company has been linked to run -- for over twenty is but its ceo was only told about the discussions the last minute. nissan is cautiouous about the proposed merger fiat chrysler is one of its main competitors in the four by four markets in the us. let us now look for the sign on nissan is wary that the new alliance would want access to its technology the battle of the little sauna. if you need some that thiss coud boost fiat chrysler is business to the detriment of nissan's brands. in t the us -- ninissan it. and on the negative from the sun is that it could lose influencee over no. at the moment it holds a 15% stake in the company. of the marriage goeoes ahead tht would drop to seven point 5% the new fiat chrysler run it would be much larger than the japanese company. she said for you if the merger takes over it will change the power balance in the alliance. up until now nissen sold many more calls than reynaud. rent a movie it together with some more calls and we found

the proposed 50-50 merger between fiat chrysler and renault. it must protect jobs and the interests must be listed at board level. that would create the third large earth carmaker it includes a dividend pailable across fiat shareholders the merger would form a holding company that trades out of amsterdam and seats on the board importantly would be split between fiat which would hold four and renault it's set from 15% to 7.5%. hence why it's very important where the french government stands on this. >> let's talk about this in a little more detail we're seeing a beg rally with the likes of renaul. we saw that yesterday. also the association we saw a big bounce of mitsubishi this is a major development. what's interesting about this is their intention to get the key stakeholders particularly as it pertains to the french government and nissan in order to getgo the go-ahead. all maetly what that would mean is both nissan's stake in renaul and the french government's stake in renault would be diluted, perhaps halved. >> yes you'll river earlier this

fiat chrysler and renault are working to create the third biggest auto dealer. they would save $5.6 billion annually much more on the proposed deal a little later in the show. >>> disney's live action re/max of "alladin", according to comsco comscore, it took in an additional $121 million and the summer driving season is officially under way americans are finding alile rew e leaf as gas prices have eased following their biggest seasonal spike in eight years aaa says the average price of regular unleaded is now $2.82 a gallon that's down two cents from last week and 14 krenltds from a year ago. >>> in the meantime, check this out. we have seen the dow down for five weeks in a row. only a few weeks left for trading in the month of may. this morning dow futures are indicated up by about six points, s&p about 2points and nasdaq about 1.5. >>> we're going the talk with mikabrzezinski and one of the producers. jo later, more deals on the potential automaker that would create the third largest ayunmaker. ck with mika in a moment >>> welcome back to "squawk box. mika br

think that's his business all engines go stocks have surged by more than 10 percent in via chrysler and renault italian american company wants to merge with its french rival it create one of the world's biggest carmaker and save billions of dollars needed to invest in the. pornos supervisory board is discussing the possible merger proposed by fia chrysler the company's largest shareholder the french government the support of. the government is favorable to the movies but doesn't renew shareholder we must look into the conditions of the day of after all this merger must be good for the.

when we come back, a merger with fiat chrysler and renault. the reporter who broke the story next. >>> and allibabaalibaba and could it be a paypal killer. two stalwarts looking to close a deal worth $40 billion it's not a merger monday it's a merger tuesday. but we'll return to both stories after this systems. systems. ♪ ♪ be able to pull from reservation platforms built 20 years ago. and also be able to use apps to book super-personalized trips on shiny new phones from the future. plus, i need freedom to move my workloads wherever, whenever - but manage it all from right here. and that's the cloud i want. simple, right? expect more from your cloud. ibm cloud. my mom washes the dishes... ...before she puts them in the dishwasher. so what does the dishwasher do? cascade platinum does the work for you, prewashing and removing stuck-on foods, the first time. wow, that's clean! cascade platinum. be go[ laughing ] gone. woo hoo. ♪ welcome to my house mmm, mmm, mmmmm. ball. ball. ball. awww, who's a good boy? it's me. me, me, me. yuck, that's

and so there his big achievements really to take it out of the chrysler period and that's it returned consistent profitability in terms of the lows i suppose the you can't escape the fact that at the 28 it was quite a bad year for diner there their figures were down their sales were down the revenues were down there was an old timer's fault but things have certainly cooled of it and also the 1st quarter 29 was the same also what volkswagen took most of the brunt of this from the diesel emissions scandal it's. remember the time we were not blameless there either so there's been a few negatives during his time in charge so his successor i mean he inherits as you've highlighted there are some challenging conditions look we expect from him for the 2 big things that the interest of the successor to of the major prerequisites historically for german business leaders of particularly in the car industry has been one that you're german and to that you're an engineer he's neither he's swedish and he's prime priority a financial guy he has no real background in engineering for the last 2 and a h

make about 8.7 million cars together, renault and fiat chrysler. that would be opposed to nissan, who made 6 million cars. 90 go from a relationship with renault, where you have better sales, better markets, mainly the u.s. and china, and it gets flipped on its head. he is saying we need to explore these opportunities, it can be beneficial and positive if the greater car company had greater reach. against what he has been championing for, which is more say in the alliance. it is a convoluted, complex dealenge for nissan to with right now at a time when they are trying to restore confidence in the car company, given the carlos ghosn saga. that's what jean dominique sungard is doing today. at nissan, he will be pitching the merits of this merger with fiat chrysler to nissan and mitsubishi. doubt, psychology on will be listening. shery: does he have any real options at this point, in this conundrum he is in? stephen: it is a conundrum. a morebeen trying to get equitable partnership. he has rebuffed overtures from carlos ghosn and jean dominique's and

we have yet chrysler offering to buy and merge with renault -- we have fiat chrysler offering to buy and merge with renault. if it did, it would become the third largest auto producer overnight. it is fascinating. this is more of a response to pressure on these auto companies. lisa: the amount of money to have to spend with was back to electronic acacia, as well as a -- with respect to electronification, as well as , it wasomation interesting to see that both shares of the companies surged. it is interesting. you normally see one benefit from the other. what is interesting as we go forward, these companies coming together are going to have negotiating power with their suppliers. they are going to reduce costs and boost some of their prices. it is really about positioning and a market that is getting increasingly tight. alix: what is interesting, talking about politics, it is going to have to be cross-border m&a. salvini loves the steel. i don't know -- loves this deal. i don't know if france feels the same way. marty: good luck with that. in many cases, the economic sense does not tr

and so they're his big achievements ready to take it out of the chrysler period in the return to consistent profitability in terms of the lows i suppose the you can't escape the fact that of the 28 it was quite a bad year for diameter their their figures were down their sales were down the revenues are down there was an old timer's fault but things have certainly could and also the 1st quarter 29000 was the same also what volkswagen took most of the brunt of this from the diesel emissions scandal it's. remember the time we were not glamorous there either so there's been a few negatives during his time in charge so his successor i mean he inherits as you've highlighted there are some challenging conditions look we expect from him for the 2 big things that's interesting about the success or 2 of the major prerequisites historically for german business leaders of particularly in the car industry has been one that you're german and 2 that you're an engineer he's neither he's swedish and he's prempro already a financial guy he has no real doctorate in engineering he for the last 2 and a half yea

that smalling for better performance and handling credited with helping diamond to recover when the chrysler takeover fell apart in 2007. has achieved record sales in recent years after increasing the appeal of its cars to a younger market many shareholders say they're sad to see that should go pretty good ali it's a shame they're a long time a lot like him a lot. of fresh winnings from the new boss and that's the strategy that's been announced here will be implemented effectively now that the share price will go up again because. that future strategy will be led by time his 1st known german c.e.o. all of us. and we're joined now from the business desk by arthur sullivan to tell us a little bit more about doctors eans departure i mean that's what he's affectionately called by many a business leader of this stature why is he leaving now well for starters he's going to work on time are for. 3 years and 13 of those c.e.o. so 43 years ahead of a long time to work anywhere 13 years of the c.e.o. of an organization as big as diameter is extremely demanding job so it's natural that you would leave

and so they're his big achievements ready to take over the chrysler period in the return of consistent profitability in terms of the lows i suppose the you can't escape the fact that of the 28 it was quite a bad year for diameter their their figures were down their sales were down their revenues are down there was an old timer's fault but things have certainly cooled of it and also the 1st quarter 21000 was the same also what volkswagen took most of the brunt of this from the diesel emissions scandal it's important remember the time we were not glamorous there either so there's been a few negatives during his time in charge so his successor i mean he inherits as you've highlighted there are some challenging conditions look can we expect from him through the 2 big things that the interest of the successor to of the major prerequisites historically for german business leaders of particularly in the car industry has been one that you're german and 2 that you're an engineer he's neither he's swedish and he's prempro already a financial guy he has no real doctorate in engineering he for the

sure spent more than 4 decades at a time or as head of the chrysler division he became affectionately known in the us as dr z. even appeared in. this fight i think with this page there is only one example that smalling for better performance and handling credited with helping time to recover when the chrysler takeover fell apart in 2007. has achieved record sales in recent years after increasing the appeal of its cars to a younger market many shareholders say they're sad to see that should go pretty good only it's a shame they're the likes of a lot like him a lot. of fresh winners from the new boss and this is a strategy that's been announced here will be implemented effectively now that the share price will go up again. and that future strategy will be led by time is known jim and see all of us. and we're joined now from business desk by arthur sullivan to tell us a little bit more about doctors ease departure i mean that's what he's affectionately called by many a business leader of this stature why is he leaving now well for starters sara he's going to work on time for 43 years and

it's a merger that could reshape the auto industry france's renault seems to welcome the advances of chrysler but what would it mean for japan's nissan. also on the show the e.u. has elected a new parliament we'll look at what it could mean for a common east end businesses. and how lies can cost lives we hear from an african startup the fights fake news. welcome to business i'm stephen beers in berlin good to have you with us italian carmaker fiat wants to merge with its french rival renault and create one of the world's biggest car makers save billions of dollars and raised plenty of questions about the role of rondo's current partner nissan rhinos supervisory board is considering the possible merger proposed by feet chrysler the company's largest shareholder the french government is supportive equal. the government is favorable to the move but as a rental shareholder we must look into the conditions of the deal after all of this merger must be good for the economic and industrial development of renato but also for the employees that are here when it says there will be no plant closings from

fiat chrysler is poised to announce a tie up with renault that could lead to a merger, and way ways founder -- huawei's founder stands defiant of being threatened. >> i will ignore trump. and then, with home can he negotiate? if he calls me, i may not answer. ♪ manus: warm welcome to "daybreak europe". one message comes from the chinese. do not shorten the yuan. the longest winning streak since the start of the month. get ready for a form of cold deal. yuan has dropped 2.6%. the banking regulator says you will have huge losses if you short the yuan. get ready for a cold deal. the cash bond market is closed, but futures are trading. as futures rise, the yield drops. lowe's, $131 billion of paper will hit the street. our yields too low to cover ratio in? that's the question i ask. inflation is dropping. short positions on the bonds are the highest since november, 2018. have we gone too far too fast? you are looking at the biggest loss of the year last week. what can stop the drop in oil? potentially good news even though the drillers are the lowest numbers in a year. could morning. -- good

itself before f c 8 before fia took over chrysler you know chrysler had spent years in this unsuccessful marriage with with german automaker dime lower ford tried to manage acquire and manage jaguar land rover involved in. you know an aston martin and that didn't work b.m.w. tried to acquire rover and run that didn't work putting together the operations of 2 auto companies in a merger situation where both sides feel that they're equal is terribly difficult because of the big personalities because of the culture different cultural differences see the fia at the acquisition of chrysler by fia it is actually a different story because had a very powerful magnetic personality you brilliant c.e.o. in sergio marchione who is who is able to commit and they they really rescued chrysler says it was a different situation. and with renault and nissan they've had an alliance of over the last 20 years that has been reasonably successful it hasn't in my opinion been. you know a tremendous success of 2 companies realizing synergies and complimentary things they've had a lot of trouble. chief among them

sure spent more than 4 decades at a time line as head of the chrysler division he became affectionately known in the us as dr z. even appeared in. this fight i think with this page there is only one example that smalling for better performance and handling it was then credited with helping diamond to recover when the chrysler takeover fell apart in 2007. has achieved record saying it was in recent years after increasing the appeal of its cars to a younger market many shareholders say this sad to see that should go pretty good only it's a shame in there i liked him a lot like him a lot. of fresh winners from the new strategy that's been announced here it will be implemented effectively now that the share price will go up again because. that future strategy will be led by time is known jim and see all of us. and we're joined now from business tasked by arthur sullivan to tell us a little bit more about doctors ease departure i mean that's what he's affectionately called by many a business leader of this stature why is he leaving now well for starters sara he's been working on dime for 43

. >> t the ceo o of renault is sao decidede next weeeek on the e ft chrysler plan, pututting it inie numbmber one spot when f factori in renault's alliance with meat -- with nissan and mitsubibishi. therere are changes in the marketplace from electrification to autonomous vehicles. but the move has risks. the histotory of giant car mergs is littered with failure. auto giantnew global be in the works. renault has seriously looked into a 50/50 deal offered by chrysler, this i in addition to alliances with nissan and mitsubishi. if it happens, it would be in the latest of a string of marriages in the global car industry. renault's french rival, renault-citroen -- a chinese - - mitsubishilt family alliances already giant. last year it sold over 10.7 million cars, trading just behind -- adding fiat chrysler would make its outfit 1.5 times bigger than the german group. capital, the deal seems to offer a win-win situation, at least on paper. >> these days the bigger the better. ways to have e more invest in the future challenges the industry faces. >> scale counts when tackling an expensive

blake: when you talk about fiat chrysler, that's jeep, dodge, chrysler, ram, some of the biggest, some of the biggest brands here in the u.s. what would that mean for those specific vehicles, for those specific fleets? >> for renault, it would be, better access to the u.s. market. it would offset the fact they don't perform very well in suvs or trucks. for fiat chrysler, it would help them this europe where they have some struggles with fuel efficiency, demands there. the big hole here however is china. jeep has long been a brand should be in china. it has a lot of recognition. fiat chrysler has never done real well building those vehicles. blake: would the potential merger help that or are there so many obstacles with the potential trade deal to come? >> that is one of the holes in the proposed marriage. one thing investors like there would be so much synergy in development of new vehicles, spending they could save five billion euros a year on those kind of costs. getting more cale and better deals and parts and product development to compete against volkswagens an toyotas of the worl

fiat chrysler has pitched a so—called ‘merger of equals' to rival renault. that's as it tries to tackle the challenges of far—reaching technological and regulatory changes by creating the world's third—biggest carmaker. if the deal goes ahead, the $35 billion—plus tie—up would alter the landscape for the industry and impact renault‘s relationship with asian partners nissan and mitsubishi. alibaba is reportedly weighing the option of raising $20 billion through a second listing in hong kong. according to bloomberg, the chinese e—commerce company is working with financial advisers on the planned offering for as early as the second half of this year. a spokesman for the company declined to comment. alibaba held its record $25 billion public float in new york in 2014 after hong kong refused to accept its governance structure. a coffee shop in san francisco is serving up a $75 cup of coffee. my colleague cody godwin got a taste and asked the obvious question — would someone spend that much on a cup of coffee, and why? all right. thank you. i think t

suv market with the chrysler brand, chrysler ram trucks and jeep models some very well in the u.s. at good margin. that has worked out for them. chrysler previously had an alliance that did not work out at all. there is a cultural component. sometimes there are clashes. it comes down to how long-term and short-term thinking is. you have markets with a cultural component to them and it can be extremely challenging to execute this kind of thing. you need a strong leader like carlos ghosn to navigate an alliance like that. shery: very ironic. we have the markets opening in japan at the top of the hour. aphie: we are gearing up for tepid open with little direction from the u.s.. markets are closed for memorial day. markets muddle along. beatty --trump is not not ready to make a trade deal with china. we are watching the actions to reports of changes to the battery purchasing plan. one of its supply deals with samsung may unravel. brokers with a lower stock transaction tax set to take place on may 30 as they try to attract more investment. executives from the china company visited to re

andn: shares in both renaud fiat chrysler soaring on monondy on news of the proposed memerge. renaud up over 50%. fa -- 15%. fiat up around 11.5%. european indexes gaining as investors breathe a sigh of relief t that pro-eu parties wil remain a sololid majority. in paris dipping back. the dax in frankfurt up around half a percent. from london we will have to wait for the reaction to the brexit parties -- party's win. thanks her close for a holiday. jeannie: now the latest inin the string of legal challenges over the opioid crisis in united states. pay $85 million to oklahoma. it claims it helped fuel the opioid addiction epidemic. the company says the settlement does not establish any wrongdoing and it denies contributing to the crisis. oklahoma's attorney general accused them of deceptive marketing by downplaying the addiction risks of popular opioid painkillers and of creating a massive oversupply. the state settled its s claims against purdue phaharma in march for $270 million. that figure falls fall short of the actual cost of the crisis, estimated at $12 crawford: we star

and the bulk of chrysler's production is done in detroit. once home to tens of thousands of workers too in the shadow of its former production of 6000 cars a day jobs the once booming car industry changed talian lifestyles it made them more and more but that's all in the past. it's very difficult to imagine a future for the italian automotive industry because in 20 years the number of workers and the number of cars manufactured has reduced tremendously. it's only so-called mortars still produces fewer but bigger price tag cars such as. romeo ferrari and lamborghini. and some entrepreneurs are using it despite italy's skyrocketing public debt and recession fears. this family owned business which used to make seat belts for passenger cars and boats. is now a nice manufacturer of seats seat belts and motor sports products. founded the company in the 1970 s. but he sees a future only if the government pays attention to it least slowing industrial production would just need the government to realize the big challenge that the country and the indu

it would create the world's third biggest carmaker if fiat chrysler is going to partner with renault. absolutely and it seems very interesting. it "41 who doesn't have a significant market share outside north america, them extending a partnership because arthur moran that alvaro mayo and fiat haven't helped them. ———— alfa romeo. and renault has been in a big alliance with nissan and mitsubishi that might give it leveraged in negotiating with those partners. it really could be a marriage, a merger of equals, it ——as they are saying. both have different things to gain from it but it would be so complicated. it makes the head hurt thinking about how they will piece it all together. the car industry has been overtaken by tech firms encroaching on their area. i mean, the driverless, self driving technology, what i really tech firms, have been making far greater headway and more quickly and it seems like this is an attempt by fiat chrysler, which was a bit on the back foot, to play catch up. this would also try to free up cash. it will try to improve both respective balance she

let's do business stocks surged today by have a 10 percent chrysler and renault italian american company wants to merge with its french rival it create one of the world's biggest and save billions of dollars. reynolds supervisory board is considering the possible merger proposed by fee at chrysler the company's largest shareholder the french government is supportive equal. the government is favorable to the move but as a rental shareholder we must look into the conditions of the deal after all of this merger must be good for the economic and industrial development of renato but also for the employees that are here when. it says there will be no plant closings from a merger and both companies would gain by combining platforms technologies and markets the proposed merger would bring together 2 of the world's top 10 carmakers and could theoretically create a new number one on the global market together rental and fee it tries or could possible going to toyota if friend who holds on to its partnership would miss on an mitsubishi publicly nisson says it will examine the merger but the firm is

sure spent more than 4 decades at a time as head of the chrysler division he became affectionately known in the us as dr z. even appeared in. this 5 play real suspension is only one example smalling for better performance and handling credited with helping dima to recover when the chrysler takeover fell apart in 2007. has achieved record sales in recent years after increasing the appeal of its cars to a younger market many shareholders say they're sad to see that should go pretty good ali it's a shame they're allowing some a lot like him a lot. of fresh winnings from the new strategy that's been announced here will be implemented effectively now that the share price will go up again. and that future strategy will be led by time is 1st known german c.e.o. . us. or general de long was at that and it was general meeting of berlin today last how has the reaction force from the frankfurt stock exchange lars wait 1st for a 2nd i just want to ask jenelle a couple questions 1st jamil the time the boss bowed out calling for. backs i read does that mean that he hasn't left the comic. he's not leav

runnels supervisory board is considering the possible merger proposed by feet chrysler the company's largest shareholder the french government is supportive equal. the government is favorable to the move but as a rental shareholder we must look into the conditions of the deal after all of this merger must be good for the economic and industrial development of renato but also for the employees who said are you going to. feel it says there will be no plant closings from a merger and that both companies would gain by combining platforms technologies and markets the proposed merger would bring together 2 of the world's top 10 car makers and could theoretically create a new number one on the global market together rendell and fia tries or could possible going to toyota if friend o. holds on to its partnership with nissen and mitsubishi publicly nissen says it will examine the merger but the firm is said to have been blindsided by the talks relations between the japanese firm and rental have worsened since the arrest of former alliance had called us gone on the fia tie up would only add to

and speaking of french jobs renault and chrysler are considering joining forces to create one of the largest car companies in the world and the french government wants a guarantee that no jobs will be cut in any merger. fear is stalking the assembly lines of fear at chrysler and the north for the workers turn out because the bosses are negotiating a possible merger the idea is to create a new also giant but it's not just french workers the french state also wants jobs to be protected. should you take hold of i know chairman john dominique's and now very clearly that it was the 1st of the guarantees i wanted from him in the opening of these negotiations with. a guarantee for french industrial jobs on sites and another guarantee required by the minister any deal must strengthen the alliance between good noan japan's nisson. so there i want this deal within the framework of the nowness on alliance which goes back 20 years we want to strengthen it it's resulted in important technological investments and put all the government owns 15 percent of the middle which explains why it's so vocal

chrysler in the normal hope to achieve cost savings a fine 1000000000 euros annually with the merger the theory being that if they are successful they'll have much more to invest in electro mobility. over to asia now we're china appears to be signaling that it could restrict exports of rare earth metals to the u.s. that would open a new front in the trade dispute between the 2 countries are poor by the state controlled global times newspaper said beijing was already making such plans a state official told reuters on the same day the domestic consumption would be the future priority although china is willing to meet what it called reasonable demands from other countries and china accounts for 80 percent of rare earth metals which are critical for tech products and military weapons. and let's stay with china the country's economic transformation has been one of the biggest stories of the past decades since 1979 market reform and foreign investment have helped 700000000 people work their way out of poverty china's become the world's 2nd largest economy and the communist party says that

sure spend more than 4 decades at a time or as head of the chrysler division he became affectionately known in the us as dr z. even appeared in. this 5 playing growth of only one example smalling for better performance and handling credited with helping diamond to recover when the chrysler takeover fell apart in 2007. has achieved record sales in recent years after increasing the appeal of its cars to a younger market many shareholders say they're sad to see that should go pretty good ali it's a shame there i liked him a lot i like him a lot. of fresh winds from the new boss and there's a strategy that's been announced here will be implemented effectively. now that the price will go up again because. future strategy will be led by time his 1st known german c.e.o. . was. well general jim alone was at that annual general meeting in berlin today that has the reaction force from the frankfurt stock exchange laws wait for us for a 2nd i just want to know the couple questions 1st jamil dima bose bowed out calling for calm backs i read does that mean that he hasn't left the comic. he's not l

new plot twist in the drama surrounding french carmaker renault leads our globe report today as fia chrysler proposes a merger a statement from fee on the proposal sent stocks for both companies up sharply by more than 11 percent leadership at renault reportedly will busy consult informally over the coming days regarding the proposal to create the world's 3rd biggest carmaker for the chrysler c.e.o. mike manley enthused 2 employees in an e-mail about a merger of like minded businesses and renault seems to be in a mood to entertain corporate callers seeking to woo the french automaker after a current partnership with nissan was rocked by the arrest of executive karl is gone mr goldman served his chair and c.e.o. of an alliance between renault nissan and mitsubishi the proposed merger offers clear advantages for both companies including complimentary market shares in north america and europe chrysler has suggested that if the companies do merge no factories would be closed. the chinese government moved to seize the sound bank on friday citing severe credit risks regulators will assume control

2018 after several good years teachers actually spent more than 4 decades at a time as head of the chrysler division he became affectionately known in the us as dr z. even appeared in. this 5 playing group has only one example that smalling for better performance and handling credited with helping diamond to recover when the chrysler takeover fell apart in 2007. has achieved record sales in recent years after increasing the appeal of its cars to a younger market many shareholders say they're sad to see that should go pretty good ali it's a shame they're a long time a lot like him a lot. of fresh winnings from the new boss is a strategy that's been announced here will be implemented effectively the share price will go up again because. that future strategy will be led by time is 1st known german c.e.o. . or general to a long was at that and it was general meeting of berlin today last hot. has the reaction force from the frankfurt stock exchange laws' wait 1st for a 2nd i just want to us ginnell a couple questions 1st jamil the dima boss bowed out calling for calm backs i read does that mean

after several good years teachers actually spent more than 4 decades at a time line as head of the chrysler division he became affectionately known in the us as dr z. even appeared in. this trifling christmas there's only one example that smalling for better performance and handling credited with helping diamond to recover when the chrysler takeover fell apart in 2007. has achieved record sales in recent years after increasing the appeal of its cars to a younger market many shareholders say they're sad to see that should go pretty good ali it's a shame they're like him a lot like him a lot. of fresh winds from the new strategy that's been announced here will be implemented effectively share price will go up again because. that future strategy will be led by time is 1st known german c.e.o. . us. or general de long was at that and it was general meeting of berlin today last how has the reaction force from the frankfurt stock exchange lars wait 1st for a 2nd i just want to ask jenelle a couple questions 1st chanelle the time the boss bowed out calling. com backs i read does that mean that he h