Both the eurozone and the European Union saw growth in the third quarter. According to Eurostat, the eurozone posted growth of 0.4% and the EU grew by 0.2%. The British and Spanish economies remain in the red.
AFP - French auto maker PSA Peugeot Citroen said on Thursday it needed to cut 6,000 jobs in France between now and 2012 in order to boost productivity.Peugeot chairman Philippe Varin, outlining 2010-2012 performance plan for the group, said the reductions would come through the non-replacement of workers leaving the company voluntarily.
AFP - French auto maker PSA Peugeot Citroen said on Thursday it needed to cut 6,000 jobs in France between now and 2012 in order to boost productivity.
Peugeot chairman Philippe Varin, outlining 2010-2012 performance plan for the group, said the reductions would come through the non-replacement of workers leaving the company voluntarily.
Porsche revealed on Thursday a €4.4bn pre-tax loss in its past fiscal year. The sports carmaker had to swallow large writedowns on Volkswagen shares and options.It said the loss compared to a €8.6bn profit before tax in the year before, when it could reap billions in paper gains from option bets with VW shares.
Porsche revealed on Thursday a €4.4bn pre-tax loss in its past fiscal year. The sports carmaker had to swallow large writedowns on Volkswagen shares and options.
It said the loss compared to a €8.6bn profit before tax in the year before, when it could reap billions in paper gains from option bets with VW shares.
Consider, for a moment, a tale of two countries. Both have suffered a severe recession and lost jobs as a result -- but not on the same scale. In Country A, employment has fallen more than 5 percent, and the unemployment rate has more than doubled. In Country B, employment has fallen only half a percent, and unemployment is only slightly higher than it was before the crisis. Don't you think Country A might have something to learn from Country B? This story isn't hypothetical. Country A is the United States, where stocks are up, G.D.P. is rising, but the terrible employment situation just keeps getting worse. Country B is Germany, which took a hit to its G.D.P. when world trade collapsed, but has been remarkably successful at avoiding mass job losses. Germany's jobs miracle hasn't received much attention in this country -- but it's real, it's striking, and it raises serious questions about whether the U.S. government is doing the right things to fight unemployment. ...
Don't you think Country A might have something to learn from Country B?
This story isn't hypothetical. Country A is the United States, where stocks are up, G.D.P. is rising, but the terrible employment situation just keeps getting worse. Country B is Germany, which took a hit to its G.D.P. when world trade collapsed, but has been remarkably successful at avoiding mass job losses. Germany's jobs miracle hasn't received much attention in this country -- but it's real, it's striking, and it raises serious questions about whether the U.S. government is doing the right things to fight unemployment. ...
... it raises serious questions about whether the U.S. government is doing the right things to fight unemployment. ...
Don't look now, Krugsy old boy (I get to call him that. I'm special.) but the`government doesn't give a rat's ass about the unemployment rate in the general population, only about their own. Wake up, grow up Krugsy. In the end, might makes right. Nothing has changed since the caveman.
