This is what’s in the news for Monday April 9, 2012. The Wall Street Journal reports top labor representatives of Volkswagen (PINK:VLKAY) and its Audi unit say they expect binding commitments to secure jobs at Audi’s two main German plants before agreeing to a new plant in North America. The Wall Street Journal also reports Reddy Ice Holdings (PINK:RDDY) is in the final stages of preparing to file for Chapter 11 bankruptcy protection with a plan to give ownership to a hedge fund holding the company’s debt, sources say. Reuters reports Qatar’s sovereign wealth fund has built a 5% stake in Xstrata (PINK:XSRAY) ahead of the mining giant’s planned $41B takeover by Glencore. Reuters also reports Bangladesh says ConocoPhillips (NYSE:COP) is seeking to expand operations in the Bay of Bengal following a U.N. tribunal border ruling which cleared the way for more offshore oil and gas exploration in the region. Finally, Bloomberg reports oil slid for the third time in four days after Iran agreed to resume talks on its nuclear program and economic reports in the U.S. and China raised concern about the demand for fuel.
