Archive for March 3rd, 2012
Obama defends rescue engine because it saved more than a million jobs
U.S. President Barack Obama today defended the bailout of the U.S. motor industry because he saved more than one million jobs and has allowed the lift industry and manufacture efficient vehicles. “Today, GM (General Motors) is the number one engine manufacturer in the world. Chrysler grows faster than any other car company. Ford invests billions [...]
U.S. grows more than announced in the fourth quarter
The U.S. economic growth was revised up for the last quarter of 2011, to 3% compared to same period of 2010, according to official figures released this Wednesday, while the Federal Reserve (Fed, central bank), reiterated that recovery continues at a slow pace. The first estimate for the last quarter of 2011 was set at [...]
General Motors and Peugeot-Citroen sealed an alliance to cut costs
The world number one car, General Motors, and France’s PSA Peugeot-Citroen announced on Wednesday an alliance to jointly build auto parts, a strategy aimed at reducing costs in Europe and whose impact labor is unknown. Both groups will share platforms (the part of the car “invisible” by the user, especially the chassis and running gear), [...]
Ford expected to lose 500 to 600 million in Europe in 2012
The U.S. automaker Ford is forecasting a loss of 500 to 600 million dollars this year in Europe by the crisis in that market, said Chief Financial Officer Lewis Booth said Wednesday. In an interview Wednesday with the financial daily The Wall Street Journal New York, Booth confirmed the expectations of the group’s annual results, [...]
Europe prepares to activate the billionaire bailout of Greece
The leaders of the European Union (EU) announced that they have to release the money to bail out Greece, at a summit in Brussels which discussed efforts to boost growth amid the draconian austerity measures. “We welcome the progress in Greece and the decisive action taken by the Greek authorities in the last ten days,” [...]
Spain fails to convince Europe Deficit Flexibility
Spain failed to convince the EU that allows flexible GDP deficit target to take into account the difficult situation of economic recession and high unemployment facing the country. Sweden and Finland, and several community representatives have opposed a revision of existing targets to reduce sovereign debts that have been at the root of the current [...]
Argentina and the dilemma of controlling imports to sustain economy
Argentina has adopted measures to control imports and preserve its trade surplus, its only source of income after the ‘default’ of 2011, but with such a protectionist policy jeopardizes its manufacturing sector, analysts said. “The intention is to have a reserve of dollars. And the only source of dollars that Argentina has today without access [...]
Spain revises upwards its deficit target without telling Brussels
The Spanish prime minister, Mariano Rajoy, said Friday that the Spanish deficit target for this year will be 5.8% of GDP, higher than the 4.4% agreed with Brussels, with no previous contact to the Commission that he had refused to meet the demands of Madrid to ease the initial ceiling. “The general government deficit target [...]
The ECB action reassures the markets but does not dispel the fears
Best Growth Stock – The action of the European Central Bank (ECB) brought an almost universal peace to European financial markets, but the specter of a recession still hangs over the real economy, threatened by unemployment, oil prices or a slowdown in China. “The worst of the debt crisis seems to be behind us and [...]
The IMF warns of lingering risks and prudence commends American
Best Growth Stock -The IMF warns of lingering risks and prudence commends American Despite the improvement of financial markets in recent weeks the world is still within the “danger zone” warned IMF officials on Friday gathered in Uruguay, while praised the steps taken by the countries of Latin America to address the crisis. “The risks [...]
