Paris  - The French government has used its new Strategic Investment Fund (FSI) to purchase part of one of the world's largest auto equipment suppliers, Valeo SA, an official with the fund said on Wednesday.

The FSI paid 18.5 million euros (23.8 million dollars) for a 2.35 per cent share of Valeo. Added to the shares purchased previously by the state bank CDC, that raises the government' s share of Valeo to 8.33 per cent.

The purchase is the first transaction by the fund, which was created in December to enable the government to inject capital in struggling firms in order to prevent them from failing or being taken over by foreign companies.

Brussels - The European Union's executive will use the force of the law to fight c

London, Feb. 25: A deal to save hundreds of jobs at the TATA-owned carmaker Jaguar Land Rover (JLR) is on the anvil.

According to Sky News, the deal with the unions should save JLR 60 million pounds.

Staff at the firm has been voting on proposals to cut their hours and freeze pay in exchange for the guarantee of no compulsory redundancies for two years.

Under the deal, workers would work a four-day week, with hours cut from 35 hours to 32. They would also give up bonuses and have their pay frozen until October 2010.

Paris  - Prior to the official European sales start of the Peugeot 308 CC in March, the French car maker is offering a special open-air edition limited to 100 units in black metallic and exclusive

Stuttgart  - Porsche's first sedan, the Panamera, will sell for a basic price of 94,575 euros (121,600 dollars) with the car celebrating its world debut at the Auto China in Shanghai in March, company has announced.

The basic Panamera S comes with the V6 engine from the Cayenne SUV with an output of 221 kW/300 hp. The Panamera 4S four-wheel drive will sell for 102,251 euros (131,600 dollars) and the top of the range Panamera Turbo for 135,154 euros (174,000 dollars). It is fitted with the V8 powering 368 kW/500 hp.