There's plenty in the mix this month, starting with the news that Fiat have bought a controlling stake in Chrysler after they US company filed for Chapter 11 bankruptcy.
Fiat's CEO, Sergio Marchionne then announced its intentions to create a $106bn company with a possible bid for General Motors' main European operations.
The reason, according to US President Barack Obama, for Chrysler's demise was the failure of lenders to participate in a deal to save the auto manufacturer. However, a very bullish statement from the company makes it clear that the bankruptcy is technical and short-term after putting together the restructuring deal with Fiat to create what Chrysler describes as a "vibrant new company".
Chrysler's operations outside the US do not come under the Chapter 11 filing, but the new deal is global. This means that that Fiat powertrains and components will be produced at Chrysler manufacturing sites and all employees will move across to the new company. One of those who won't be joining them is Chairman and CEO Bob Nardelli who is standing down and will rejoin Chrysler's previous owners, Cerberus Capital Management, as an advisor.
The GM deal, which (like the Chrysler one) would be based on a debt-free purchase, is likely to include Opel in Germany and Vauxhall in the UK, but may exclude Saab. However, the prospect of a mega-company, which would be listed separately from Fiat and create one of the world's largest automotive manufacturers, has had a cool reception from the autoworkers' unions.
There was bad news for General Motors in the US with the announcement of a general recall of nearly 1.5 million passenger cars because of an oil leak which could lead to potential engine fires.
Elsewhere, there was unsurprisingly mixed news for the major oil producers as they revealed their Q1 results. Shell, ExxonMobil, and BP all showed earnings down by between 57% and 62% against the previous year. However, there was some good news for shareholders who saw dividend increases against 2008. While the companies cited differing reasons for the loss of profits, all stated clear long-term investment strategies.
It's an uncertain outlook for Valvoline with news that owners Ashland Inc have put the motor oil manufacturer up for sale, although Ashland were not commenting on what they described as "rumours" at this stage. Commentators are estimating the sale could net the chemical maker $1bn.
There was, however, a brighter Q1 outcome for NewMarket Corporation, owners of Afton Chemical Corporation and Ethyl Corporation, who announced strong first quarter results on the back of an improved petroleum additives market.
And good news for Brazilian oil producer Petrobras, who have received a two-year, $2bn credit line from the Export-Import Bank of the United States to facilitate the export of American goods and services to the company. And the Kuwait Lube Oil Company (KLOC) are closer to the construction of their 300,000 t/y base oil manufacturing plant after talks with local investors to set up a $515 million holding company. If it project goes ahead, the base oil produced at the plant will feed the existing lubricant blending plant at Shuaiba Port.