counter slowing global economic growth. The three agencies issued their report, the latest in a semi-annual series, as a joint presentation for the leaders of the group, which comprises the world’s richest powers and leading emerging economies.
GM sees breakeven in Europe by 2015
General Motors posted a surprisingly strong profit on Wednesday and said it was targeting a return to break-even levels in its European operations by mid-decade after a loss of as much as $1.8 billion in that region this year. Shares of the automaker rose 4.9% to $24.42 in trading before the market opened. We still have a lot of work to do, especially in Europe, GM chief financial officer Dan Ammann said in a statement. GM’s third-quarter net income attributable to common shareholders fell to $1.48 billion, or 89 cents a share, from $1.74 billion, or $1.03 a share, a year earlier. Excluding one-time items, GM earned 93 cents a share, far above the analysts’ average estimate of 60 cents, according to Thomson Reuters.
Honda starts making small jets in US
Honda Motor has begun making its unconventionally designed small passenger jet in the US, aiming to create a Civic of the Sky that could make it a major competitor among the world’s aircraft manufacturers. Honda said that its US-based passenger aircraft unit was building the tiny five-passenger jet, noted for its two engines mounted over the wings, in Greensboro, North Carolina.