I had listened podcast:"China's Geely buys Volvo for $1.8bn"

The Chinese car maker Geely has signed a deal to buy Volvo from US car giant Ford for $1.8bn (£1.2bn).The agreement, which was first announced in December, is the biggest overseas purchase by a Chinese car manufacturer. "Today represents a milestone for Geely," the company's chairman Li Shufu said. Loss-making Volvo has been on the market since 2008, when Ford put it and several other brands up for sale. Jaguar and Land Rover in the UK have already been sold to India's Tata Motors. Ford hopes that the sale of Volvo will help it pay off its debts and focus on its core brands, following a dire period for the global car industry. The deal represents a loss for Ford, however, having bought Volvo in 1999 for $6.5bn. However, significant manufacturing is expected to take place in China, making Volvos for Chinese consumers. Analysts view the deal as a good one for Volvo, which has struggled to grow sales and has not made a profit since 2005.