Princess Diana famously remarked that there were three people in her marriage to Prince Charles once you included Camilla Parker Bowles, whom he later married. Companies seeking cross-border mergers in Europe need to be wary of ending up in similarly overcrowded relationships as governments start to demand dowries and a share of the marital bed.
Norway’s $713 billion sovereign wealth fund is turning away from the world’s biggest currencies and their debt-laden governments as policy makers undermine their exchange rates through unprecedented stimulus measures.
The euro traded at the lowest level against the dollar in almost three months as Italy moved toward more elections and before data forecast to show the region’s economy shrank in the fourth quarter of 2012.
General Motors Co. said Europe’s car industry will remain unprofitable at current vehicle pricing levels, while Volkswagen AG said some competitors are at risk of going out of business without state aid.