Peugeot 'considering production deal' with GM
PSA Peugeot Citroen is reportedly talking to General Motors about a broad manufacturing alliance.The idea is to reduce their losses in Europe and lower production costs worldwide.The discussions are said to have been underway for months and are focused on sharing vehicles and parts rather any major tie-up of capital.GM is currently the world’s biggest carmak…
22 February 2012, 3:34 pm | Read the full article
Mobile war undermines France Telecom's profit
France Telecom has said it will reduce its dividend payments to shareholders this year and is putting off a promised buyback of shares.It blamed that on a mobile phone price war with rival Iliad.Since Iliad launched its ultra low-cost mobile offers in January, chief financial officer Gervais Pellissier said France Telecom has lost over 200,000 customers.Fran…
22 February 2012, 1:49 pm | Read the full article
Eurozone on brink of recession
The eurozone economy is in danger of tipping into recession as the services sector shrank this month along with manufacturing. Surveys of company purchasing managers (PMI) published on Wednesday showed unexpectedly weak activity in the region’s most powerful economy, Germany, as well as in France, even as the gap between them and the struggling periphery nat…
22 February 2012, 1:48 pm | Read the full article