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Tata to announce purchase of Jaguar and Land Rover next week.

Tata Motors will announce its purchase of Jaguar Land Rover on March 5 or 6, according to Automotive News.

The dates have been agreed between Tata and Ford, which is selling the two luxury brands, following talks with trade union leaders last week.

Roger Maddison, national officer of Unite, the largest union in the UK auto industry, told Automotive News Europe Tata had agreed to meet guarantees sought by workers' leaders.
He said, " Everything seems fine as far as we are concerned; it's just the lawyers working on it now."

Union leaders spoke with Ford and Tata to resolve final details before the drawing up of a memorandum of understanding for the sale.

In earlier talks with the two companies, unions had been seeking assurances that Tata would continue to source engines, stampings and other

Posted by Peter C. T. Elsworth  at 3:04 PM to Ford , India | Permalink | Comments 0

Gasoline, diesel prices leap toward records

The price of diesel fuel hit a record Friday — and gasoline prices are leaping so fast they could set records this week, according to USA Today.

Rocketing retail fuel prices are the result of the week's $100-a-barrel crude oil prices and tight supplies as refineries switch to producing costlier summer-blend, clean-air gasoline that's required by federal regulations.

The nationwide average price for diesel Friday was a record $3.541 per gallon, according to data collected daily at more than 85,000 fuel stations by the Oil Price Information Service (OPIS) and published by travel organization AAA.

The average for regular-grade gasoline Friday was $3.115, up 2.9 cents overnight and 6.2 cents in two days.

Posted by Peter C. T. Elsworth  at 9:59 AM to Gas prices | Permalink | Comments 0