Corporate news
Renault’s low-cost Moroccan factory upsets politicians
France’s Renault has opened a giant factory in Morocco to build low-cost vehicles. The salaries of workers at the plant near Tangiers amount to less than a quarter of the French minimum wage. Renault boss Carlos Ghosn brushed off political considerations about the partly state-owned company exporting jobs…
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Pepsi cuts jobs, boosts marketing chasing Coke
PepsiCo says it expects to cut 8,700 jobs over the next three years. That is part of a plan to save the equivalent of an extra 1.1 billion…
09/02 17:02 CET -
Some shareholders baulk at Glencore-Xstrata merger
No sooner was the biggest ever merger in the mining sector announced than it met opposition. Miner Xstrata is to be taken over by…
07/02 15:54 CET -
Southern Europe hanging up on Vodafone
Vodafone’s revenue for the final three months of 2011 came in lower than expected. It blamed increasingly difficult conditions in…
09/02 14:49 CET -
Upbeat forecast from Toyota
Toyota, Japan’s biggest carmaker, has said it sees its full-year profit being much better than it had previously predicted. That is…
07/02 14:17 CET -
Gloomy outlook from UBS
Swiss bank UBS says a restructuring of its investment banking business had failed to give it the improvements hoped for. That division have…
07/02 14:16 CET -
Boeing plays down 787 delamination problem
Boeing’s shares slipped on Monday after the US planemaker said it will have to correct a fuselage problem on some of its 787…
06/02 18:58 CET -
Mitsubishi puts the brakes on European production
Mitsubishi Motors has said it will stop production at its only factory in western Europe at the end of this year. The Netherlands Car, or…
06/02 14:43 CET -
Panasonic joins Sony and Sharp in sea of red ink
Japanese Consumer electronics giant Panasonic has warned it is heading for a record annual net loss of 7.78 billion euros. As with its…
03/02 14:12 CET -
Debt grounds Hungary’s Malev
Hungary’s debt ridden state owned airline Malev has ceased operating after running out of money. Hungarian Prime Minister Viktor…
03/02 14:10 CET
