Peugeot shareholders back Dongfeng tie-up
PARIS (Reuters) - Shareholders of PSA Peugeot Citroen (PEUP.PA) on Friday approved by a large majority the rescue deal that makes Chinese carmaker Dongfeng (0489.HK) and the French state core shareholders of the struggling French carmaker.
At the company's annual general meeting, the investor base also voted to approve the appointment of board members representing the two parties, with 88 percent in favor.
They also backed a four-year mandate for Louis Gallois, the French civil servant who replaced Thierry Peugeot as chairman under the plan, with a 97 percent vote in favor.
JACKSON HOLE Wyo. - Federal Reserve Chair Janet Yellen called for a "pragmatic" approach to U.S. monetary policy on Friday, amid calls by hawkish members of the central bank's policy committee for a quick rise in interest rates due to tightening labor markets and inflationary risks. | Video
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.