Tag: europe

European Car Demand Near 20-Year Low; Peugeot Workers Shut Down French Plant; GM Loses Global Car Sales Lead to Toyota Once Again
January 17, 2013 0

European Car Demand Near 20-Year Low; Peugeot Workers Shut Down French Plant; GM Loses Global Car Sales Lead to Toyota Once Again

By News Desk

The New York Times reports Renault, Adjusting to Europe’s Declining Market, Will Cut 7,500 Jobs France’s ailing industrial sector took another blow on Tuesday when Renault said it planned to cut 7,500 domestic jobs by 2016, or about 17 percent of its French labor force, as it adjusts production capacity to the crushing downturn in the European car market. Of the 135,000 people Renault employs worldwide, more than 44,600 work in France. Ms.

"Debt Doom Loop" in Spain; Deficit Target Impossible Once Again; Bond Rally Masks European Macro Problems
January 16, 2013 0

"Debt Doom Loop" in Spain; Deficit Target Impossible Once Again; Bond Rally Masks European Macro Problems

By News Desk

Bloomberg reports Draghi’s Bond Rally Masks Trapping Spain Debt Doom Loop . The bond rally has sent Spanish borrowing That costs to 10-month lows has distracted attention from the nation’s growing debt pile. Spain’s budget deficit probably exceeded 9 percent for a fourth year in 2012 as Europe ‘s highest unemployment rate, a third recession in four years and the cost of bailing out its banks offset almost all of the government’s 62 billion euros ($ 83 billion) of spending cuts and tax Increases, According To Economists at Societe Generale SA (GLE) , Lombard Street Research and the Madrid-based Applied Economic Research Foundation.