Bloomberg PSA Group has secured the backing of one of its major shareholders, the French government, for its plan to merge with Fiat Chrysler Automobiles NV, according to people familiar with the matter. The French state, which holds roughly 12% in PSA and has board representation, is supporting a binding memorandum of understanding that could be approved this week, said ...

Bloomberg Electrolux AB, the Swedish maker of Frigidaire appliances, said it will incur a bigger-than-expected financial hit from merging fridge-and-freezer factories in the US amid delivery disruptions. The upgrade, combined with destocking at a key US customer and accounting adjustments, will shave $70 million off fourth-quarter operating income compared with a previous estimate of $25 million, according to a statement ...

Bloomberg The euro zone’s private sector is barely growing as 2019 draws to a close, rounding off a year that has seen factories battered by trade uncertainties. IHS Markit’s Composite Purchasing Managers’ Index (PMI) stayed at 50.6 in December, slightly lower than economist estimates of 50.7. The reading signals fourth-quarter output will be the weakest since the region exited a ...