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Business & Finance

Ministers to meet Fiat CEO

Milan: The Italian car maker sees four management centres, with the Italy city of Turin, its current headquarters, re
Published February 7, 2011

Milan: The Italian car maker sees four management centres, with the

Italy city of Turin, its current headquarters, retaining a central role, several newspapers said on Sunday, citing Fiat statements to politicians.

Prime Minister Silvio Berlusconi and other ministers plan to meet Fiat's chief executive in the next few days to discuss the company's plans, Italian newspapers reported.

Chrysler Group LLC plans to increase sharply its advertising spending and is on track to complete its Project Genesis restructuring and product development initiative by the end of the year, dealers and company executives said on Sunday.

Chrysler Group LLC's chief executive apologised on Saturday for describing the high-interest bailout loans extended by the U.S. and Canadian governments in 2009 as "shyster loans".

Chrysler, the U.S. vehicle producer managed by Fiat, should consider listing on both New York and Milan stock markets,

Italian market regulator Consob President Giuseppe Vegas said in Corriere della Sera on Sunday.

Fiat is not happy with its joint venture with India's Tata Motors and plans to take steps to change the relationship, the Wall Street Journal on Monday quoted Chief Executive Sergio Marchionne as saying.

Copyright Reuters, 2011

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