China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
Citi says ends Wachovia talks with Wells Fargo
(Reuters) Citi Bank says it has ended negotiations with Wells Fargo on a Wachovia transaction, after failing to reach an agreement.
* Citi cites dramatic differences in parties' transactions structures, views of
risks, making mutually acceptable agreement impossible
* Citi says remains willing to complete its fdic-backed proposal to acquire
Wachovia
* Citi says has strong legal claims against Wachovia, Wells Fargo plans to
pursue damages vigorously
* Citi says has decided not to ask that Wells-Wachovia deal be enjoined
* "our focus remains on capitalizing on our global strengths," says Citi's CEO.
