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Financial News Network
April 23, 2012 AT 12:44 PM
This is what's in the news for Friday, April 20, 2012. The Wall Street Journal reports Ford (NYSE:F) says it would build its fifth car factory in eastern China as part of a plan to double its production capacity and sales outlets in the country by 2015, a $5B bet overall on a challenging market. Reuters reports Dupont (NYSE:DD), Dow Chemical (NYSE:DOW), and other chemical firms are working with automakers after a German chemical plant explosion cut a significant supply of a nylon resin used in brake and fuel systems. Reuters also reports French financier Vincent Bollore could raise his stake in Vivendi (PINK:VIVHY) to 5%, becoming the group's largest shareholder, and possibly take a seat on its board, says newspaper Le Figaro. Finally Bloomberg reports GE (NYSE:GE) is seeking $6B in contracts in Australia by the end of the decade as it taps the country''s growing role as a supplier of LNG, iron ore and wind power.