LONDON - UK stocks were dealt with a double-blow early on Thursday after the U.S. Federal Reserve signalled its intention to begin scaling back stimulus later this year, while data showed China growth continued to wane.
FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.
Genii, Spyker woo GM over Saab bids
STOCKHOLM/AMSTERDAM (Reuters) - Genii Capital and Spyker Cars on Tuesday tried to persuade General Motors that their bids for its Swedish carmaker Saab make financial sense.
General Motors says none of the bids received so far met the financial requirement for a deal and on Tuesday appointed wind-down supervisors to take control of the ailing firm immediately.
But it also reiterated it would continue to consider offers for Saab.
Luxembourg-based Genii and Formula One mogul Bernie Ecclestone, Dutch luxury carmaker Spyker and a group of Swedish investors submitted bids last week.
"Genii hopes to improve its bid so that it becomes more attractive for GM," Lars Carlstrom, who is coordinating a joint bid for Saab from Genii and Ecclestone, told Reuters.
"One has to sweeten it to be a part of the bidding, that's the message we've received (from GM)."
Carlstrom said Genii planned to contact GM advisor Deutsche Bank on Tuesday and would make a statement during the day.
Spyker Chief Executive Victor Muller said he was in a "constructive dialogue" with GM about its Saab offer.
"We are in full dialogue to come to terms with one another," Muller said. He declined to say whether Spyker was improving its bid.
Swedish State Secretary Joran Hagglund, who visited GM in Detroit in the past week, said on Monday he saw a small chance GM will choose to sell Saab rathern than close it down.
(Reporting by Jens Hansegard, Nick Vinocur and Gilbert Kreijger; Editing by David Holmes and David Cowell)
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