The world’s leading economies must try harder to keep their markets open to counter slowing global growth, international agencies said on Wednesday. The World Trade Organisation, the OECD and UNCTAD said the G20 group of countries imposed fewer protectionist measures in the past five months, but the slow pace of recovery in foreign direct investment (FDI) was causing concern. Over the past five months, the global economy has encountered increasingly strong headwinds, the agencies said in a joint report. G20 governments need to redouble their efforts to keep their markets open and to advance trade opening as a way to 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
Be the first to comment.