BAE to end shipbuilding at Portsmouth, may cut 1,775 jobs
LONDON (Reuters) – British defense contractor BAE Systems said it would start a consultation process to lay off 1,775 ship workers across the UK and would stop all shipbuilding at Portsmouth on the south coast of England next year.
Germany, Britain shine but Europe’s recovery still fragile
LONDON (Reuters) – The euro zone’s economic recovery lost a little momentum last month, according to surveys that showed only modest growth in German and French businesses.
ING may leave state rescue two years early
AMSTERDAM (Reuters) – ING said it should complete its restructuring two years ahead of schedule, meaning the Dutch banking and insurance group could be one of the first euro zone casualties of the 2008 global crisis to emerge from a state rescue.
Lloyds Bank starts internal forex trading review
LONDON (Reuters) – The UK’s Lloyds Banking Group said it has opened an internal probe into its own currency trading after regulators started investigating possible manipulation in the market.
Mercedes-Benz Oct sales rise 15.3 percent to reach new record
FRANKFURT (Reuters) – Daimler said October sales for its Mercedes-Benz premium auto brand reached a new record, growing volume by 15.3 percent to 126,421 cars thanks to high deliveries for its new E-Class model.
Analysis: Financial markets question value of ECB rate cut
LONDON (Reuters) – Last month’s dive in euro zone inflation has put a European Central Bank rate cut back on the agenda, but with bank-to-bank lending rates already near zero, markets are struggling to see what difference it might make.
Starbucks wants to recruit 10,000 vets, spouses to its ranks
(Reuters) – Starbucks Corp is looking for thousands of good men – and women.
Euro zone Sept retail sales fall more than expected
BRUSSELS (Reuters) – Euro zone retail sales fell more than expected in September, data showed on Wednesday, as shoppers held back with purchases amid a slow economic recovery weighed down by record high unemployment and tight access to credit.
UK industrial output rebounds in September
LONDON (Reuters) – British industrial output grew more strongly than expected in September as it bounced back from a fall the previous month, providing some reassurance that the country’s economic recovery is not being driven only by consumption.
The uncomfortable truth in China’s property market
BEIJING (Reuters) – In defying four years of official cooling efforts, China’s soaring house prices reveal an uncomfortable truth: government is one of the biggest obstacles to the success of taming the market.
