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The ailing Russian automaker is a key player in the buyout of GM's Opel unit in Germany. But it's really GAZ that is looking for help from Opel Not far from the "Motor of the Revolution" metro station a huge billboard advertises a "legendary automobile factory." Portraits of the company directors who have headed Russia's second largest automaker since 1932, beam down from between red stars. A huge speedometer hits 80, 100, 120 kilometers per hour—and then abruptly jumps to 300. The ambitions of the Gorky Automobile Plant (GAZ), located around 400 kilometers east of Moscow on the outskirts of the city Nizhny Novgorod, were always oversized. Over 17 million cars have rolled off the assembly line here. Stalin would personally choose the names for the newest models. He rejected "homeland"—because who wanted to measure that in... [read full story]
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As long as the cost of borrowing money is zero, gold will continue to strengthen and the dollar will continue to weaken. Gold is going into strong hands like hedge funds managed by John Paulson, Paul Tudor Jones, David Einhorn,...
Commodity stocks up as U.S. dollar reaches new low Russia eyes Canadian dollar; Canadian corporations post Q3 earnings increase , MarketWatch LOS ANGELES (MarketWatch) -- Canada's equity benchmark surged nearly 100 points...
Opinion: No end in sight to Opel's woes? Deutsche Welle Opel's parent company General Motors has announced that all four German plants will be kept open, despite considerable job losses. But Deutsche Welle's Henrik Boehme...
