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Bloomberg
04-07-2025
- Automotive
- Bloomberg
India Seeking US Trade Deal Even as it Toughens Stance
By Updated on Save India said it is hoping to secure a trade deal with the US in the coming days amid threats by the South Asian nation to impose retaliatory tariffs. The country may impose levies on some US goods in retaliation to Washington 's higher tariffs on automobiles and their components, signaling a tougher stance by New Delhi even as the two nations race to seal an interim trade deal.
Yahoo
15-06-2025
- Automotive
- Yahoo
Could Kering's New CEO Come From the Auto Sector?
Could Kering recruit an executive from the automobile industry to lead its turnaround? The French luxury group declined all comment Sunday on a report in French daily Le Figaro that it is poised to hire Renault chief executive officer Luca de Meo. The report appeared as Renault Group said de Meo decided to 'step down and pursue new challenges outside the automotive sector.' More from WWD Magic vs. Logic: Analysts Get Creative and Start to Weigh In on Designer Appointments EXCLUSIVE: Akris Has a New CEO of the Americas Kering's First Generation Award x Jewelry Winners Revealed at JCK His departure will be effective July 15, Renault said. The Italian executive spent five years at the management helm and boasts 30 years in the industry at brands including Fiat, Alfa Romeo, Toyota, Volkswagen and Seat. De Meo would succeed François-Henri Pinault, who became CEO of his family-controlled group, then called PPR and a $30 billion retail and fashion giant. Pinault had succeeded Serge Weinberg, who had steered the conglomerate through a dramatic transformation as it shed timber, finance and electronics businesses and absorbed Gucci Group, the world's third-largest luxury player. Now Kering is solely focused on luxury fashion houses, beauty and eyewear, though it is struggling to stem a steep slowdown at its cash-cow Gucci brand, which will welcome creative director Demna next month. Kering has recruited industry outsiders in the past to run its fashion business. What was then Gucci Group famously recruited Robert Polet from Unilever's ice cream and frozen foods division as its president and CEO from 2004 to 2011. Pinault told shareholders at the company's annual meeting last April that he was unhappy with Kering's results and share price performance. 'I am totally committed to making sure the stock price recovers by restoring financial performance, not in the very short term, but in a sustainable manner in order to generate a stock price that is less volatile and more solid in the months and years to come,' he said. Best of WWD EXCLUSIVE: Maje Names Charlotte Tasset Ferrec CEO Nadja Swarovski Exits Family Company Amid Ongoing Corporate Shakeup Aeffe MD Exits Fashion Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-06-2025
- Automotive
- Yahoo
Could Kering's New CEO Come From the Auto Sector?
Could Kering recruit an executive from the automobile industry to lead its turnaround? The French luxury group declined all comment Sunday on a report in French daily Le Figaro that it is poised to hire Renault chief executive officer Luca de Meo. The report appeared as Renault Group said de Meo decided to 'step down and pursue new challenges outside the automotive sector.' More from WWD Magic vs. Logic: Analysts Get Creative and Start to Weigh In on Designer Appointments EXCLUSIVE: Akris Has a New CEO of the Americas Kering's First Generation Award x Jewelry Winners Revealed at JCK His departure will be effective July 15, Renault said. The Italian executive spent five years at the management helm and boasts 30 years in the industry at brands including Fiat, Alfa Romeo, Toyota, Volkswagen and Seat. De Meo would succeed François-Henri Pinault, who became CEO of his family-controlled group, then called PPR and a $30 billion retail and fashion giant. Pinault had succeeded Serge Weinberg, who had steered the conglomerate through a dramatic transformation as it shed timber, finance and electronics businesses and absorbed Gucci Group, the world's third-largest luxury player. Now Kering is solely focused on luxury fashion houses, beauty and eyewear, though it is struggling to stem a steep slowdown at its cash-cow Gucci brand, which will welcome creative director Demna next month. Kering has recruited industry outsiders in the past to run its fashion business. What was then Gucci Group famously recruited Robert Polet from Unilever's ice cream and frozen foods division as its president and CEO from 2004 to 2011. Pinault told shareholders at the company's annual meeting last April that he was unhappy with Kering's results and share price performance. 'I am totally committed to making sure the stock price recovers by restoring financial performance, not in the very short term, but in a sustainable manner in order to generate a stock price that is less volatile and more solid in the months and years to come,' he said. Best of WWD EXCLUSIVE: Maje Names Charlotte Tasset Ferrec CEO Nadja Swarovski Exits Family Company Amid Ongoing Corporate Shakeup Aeffe MD Exits Fashion Group Sign in to access your portfolio
Independent Singapore
11-06-2025
- Automotive
- Independent Singapore
Rare earths crisis looms; experts warn of supply chaos rivaling pandemic
A cluster of earth crystals INTERNATIONAL: As rare earth pressures intensify between the U.S. and China, American builders are confronted with an impending emergency evocative of the pandemic-period's chip scarcity, but with more extensive repercussions. China tightens the grip: New export rules shake global supply chains According to a recent CNN report, the automobile industry is sounding the alarm over a probable scarcity of rare earth elements, vital minerals utilised in everything from power-driven engines to seatbelt devices. Industry stakeholders are naming it 'the chip shortage on steroids.' And they have cause for apprehension — in April, China instigated new licensing guidelines on rare earth exports, additionally constricting its hold on the international supply of these 17 indispensable natural resources. These elements are crucial to the manufacture of cars, smartphones, wind turbines, jet engines, and even medical paraphernalia. With China regulating 92% of the worldwide processing volume, any interruption has broad impacts. The new limitations have already slackened outbound consignments, with U.S. builders sitting on just two to three months of stored supply. 'Industry simply could not manufacture' without a new agreement, cautions Gracelin Baskaran of the Centre for Strategic and International Studies. See also China threatens retaliation for US curbs on 'propaganda' outlets Talks in London, temporary relief, and uncertain futures Trade meetings between the U.S. and China in London are at present in progress, with rare earths at the top of the agenda. A recent conversation between President Donald Trump and Chinese President Xi Jinping seemed to provide a flicker of hope, with China consenting to restart some exports. But specialists caution that the reprieve may be provisional and inadequate to alleviate stressed supply chains. 'The exports were already trickling out before the call — just not fast enough,' said Baskaran. And even provisional authorisations, such as those allegedly bestowed on GM, Ford, and Stellantis dealers, are only good for six months. Without a lasting resolution, builders may be compelled to stop manufacturing and shut down production lines, something already experienced at Ford's Chicago plant, where production of the Explorer SUV stopped for a week. No quick fix: Alternatives fall short, and long-term solutions lag Attempts to find substitutes to rare earth-reliant technologies are ongoing, but specialists like Roderick Eggert from the Colorado School of Mines warn that current stand-ins are detrimental to performance and productivity. 'Motor designs that don't use magnets at all tend to be less efficient,' he said. See also U.S., China should prevent 'military incidents' in South China Sea Building local processing competencies could ultimately lessen U.S. dependence on China, but that answer is years away. 'Of course, we should have seen this coming,' Baskaran said. 'We should have started this 15 years ago.' As businesses brace for growing interruptions, the rare earth deadlock has become a powerful sign of how vital materials now lie at the heart of worldwide economic and geopolitical policy.
