SME Times News in Europe

Losses mount at Porsche before absorption into Volkswagen

Staff Reporter — Thu, 26 Nov 2009 00:00:00 +0530

The parent company of German sports-car maker Porsche declared a massive loss Wednesday, but it said the manufacture of its iconic cars was still profitable.

Banks continue to hide huge losses, warns IMF head

Staff Reporter — Thu, 26 Nov 2009 00:00:00 +0530

Banks are continuing to hide huge losses from investors, imperiling the economic recovery, the head of the International Monetary Fund (IMF), Dominique Strauss-Kahn, was quoted Wednesday as saying.

Tata pledge: Won't allow Midlands to decline like Detroit

Staff Reporter — Thu, 26 Nov 2009 00:00:00 +0530

Tata Motors chief Ravi Kant has said green technologies being embraced by Jaguar Land Rover (JLR) can help a key British manufacturing region avoid the fate of Detroit - home of the declining American auto industry.

Ciena Corp. beats Nokia Siemens to buy Nortel assets

Staff Reporter — Wed, 25 Nov 2009 00:00:00 +0530

The US network specialist Ciena Corp beat Nokia Siemens Networks Tuesday to acquire debt-ridden Nortel's optical networking assets, with the American company winning the auction with $769 million.

Nokia to bid for Nortel assets

Staff Reporter — Mon, 23 Nov 2009 00:00:00 +0530

Dying Canadian telecom giant Nortel has put up its optical networking and carrier ethernet business for auction.

Oil prices dip as inventories stay high in the US

Staff Reporter — Sat, 21 Nov 2009 00:00:00 +0530

Oil prices dropped Friday and were likely to stay under USD 80 because of high energy inventories in the United States, the biggest energy-consuming nation in the world, said analysts.

Large gold, silver mine inaugurated in Mexico

Staff Reporter — Fri, 20 Nov 2009 00:00:00 +0530

Canada's Agnico-Eagle Mines has inaugurated a large gold and silver mine in Mexico with an investment of $240 million, the Economy Secretariat said.

Unemployment expected to rise in 2010 in Italy

Staff Reporter — Fri, 20 Nov 2009 00:00:00 +0530

Italy's unemployment rate is expected to increase to 7.6 percent in 2009 and rise even higher in 2010, according to the latest economic outlook from the Organization for Economic Cooperation and Development.

EU budget for 2010 to increase by six percent

Staff Reporter — Thu, 19 Nov 2009 00:00:00 +0530

Following tough negotiations, European Union (EU) governments and the European Parliament have agreed on the bloc's budget for 2010.

'Around 1000 German firms want to invest in India'

Staff Reporter — Wed, 18 Nov 2009 00:00:00 +0530

About 1,000 German firms may invest in India, the second fastest growing economy in the world, said Guenther H Oettinger, the Minister- President of State of Baden-Wuerttemberg (Germany), on Tuesday.