Mosaic Mop Cufflinks And Stud Set - New Release

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SHANGHAI (Reuters) - General Motors Co’s (GM.N) quarterly sales in China fell for the first time in over a year, hit by faltering economic growth and a wider slowdown in the world’s biggest auto market amid a whipsawing trade war with the United States. The U.S. carmaker sold 835,934 vehicles in the third quarter ended September, down a sharp 14.9 percent from a year earlier, which the firm said was due to a “softening” vehicle market and issues shifting to a new engine system with its Buick brand.

“The major reasons are a mosaic mop cufflinks and stud set softening market, slowing lower-tier cities, Buick’s engine change-over and a strong Q3 last year,” a Shanghai-based GM spokeswoman said, She added the fall was not linked to trade tensions, The fall marks the maiden drop since the first quarter of 2017, when GM’s China sales fell 5.2 percent, GM switched to reporting only quarterly China sales earlier this year, scrapping monthly sales figures it had previously revealed, China’s automobile sales have been falling more broadly in recent months, with a slowing economy and trade frictions making consumers cautious about spending, an industry body said last month..

GM has been shifting its Buick cars to a new type of more efficient three-cylinder engine to meet emissions targets, which Chinese dealers told Reuters had hit sales because consumers were not yet convinced by the smaller engines. “Many consumers still have concerns because they read negative comments about three-cylinder technology online, which aren’t really fair,” said a sales manager surnamed Hu at a Buick dealer in Zhejiang province. China, the world’s largest auto market, is critical for the U.S. carmaker. It sold over 4 million vehicles in the country last year, even more than it sold in the North Americas market.

GM’s sales in China inched up 0.7 percent mosaic mop cufflinks and stud set in the second quarter of the year, slowing from an 8 percent rise in the January-March quarter, GM’s joint venture in China, Shanghai GM, will also recall over 3.3 million Buick, Chevrolet and Cadillac vehicles from Oct, 20 due to a defect with the suspension system, a Chinese regulator said earlier this month, China’s main auto industry body, the China Association of Automobile Manufacturers (CAAM), is set to reveal September auto sales later this week..

LONDON (Reuters) - German generic drugmaker Stada STAGn.DE is vying with a group of European buyout funds for control of Bristol-Myers Squibb’s (BMY.N) French over-the-counter drugs business, sources familiar with the matter told Reuters. The business, known as Upsa, was put up for sale over the summer. Bidders were asked to submit their offers ahead of a deadline of Oct. 5, the sources said. Investment banks were hired to launch an auction in the second half of the year. The deal is potentially worth about 1 billion euros ($1.15 billion) and comes amid a wave of consolidation in the consumer health sector as big drugmakers are increasingly focusing on their strongest areas.

Private mosaic mop cufflinks and stud set equity funds are attracted by high growth in the over-the-counter drug business, where demand is being driven by aging populations and health-conscious consumers, Upsa, which makes Dafalgan and Efferalgan painkillers, has also received indicative bids from BC Partners, CVC Capital Partners and PAI Partners as well as Stada, which is controlled by private equity funds Bain Capital and Cinven, Stada, BC Partners, CVC and PAI declined to comment while officials at Upsa were not immediately available for comment..

France’s pharmaceutical and cosmetics group Pierre Fabre and U.S.-run drugmaker Mylan NV (MYL.O) had initially studied the dossier and joined the race for the business, one of the sources said. But a spokeswoman for Pierre Fabre said the company had not made a bid. Upsa generated revenue of 425 million euros in 2017 and core earnings of about 100 million euros. One of the sources said the business might fetch less than 1 billion euros, saying that the company had a workforce of about 1,500 people and local unions would oppose any significant restructuring following a change of ownership.

Bristol-Myers advisers Deutsche Bank (DBKGn.DE) and Jefferies (JEF.N) had initially sounded out large consumer groups such as Procter & Gamble (PG.N) and Reckitt Benckiser (RB.L) as well as pharma companies Pfizer (PFE.N) and Johnson & Johnson (JNJ.N), the sources said, but it was unclear whether any of these groups had shown any interest, In April, Procter & Gamble agreed to pay 3.4 billion euros for Merck KGaA’s (MRCG.DE) vitamin brands and earlier this year GlaxoSmithKline (GSK.L) agreed to buy Novartis (NOVN.S) out of their mosaic mop cufflinks and stud set consumer healthcare joint venture for $13 billion..



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