By Chang-Ran Kim As General Motors Corp creeps towards bankruptcy, Japanese auto executives have grown less worried about the turmoil in the supply chain and dealer channels the demise of the No. 1 U.S. car maker would cause. Just six months ago, the prospect of a Chapter 11 filing in Detroit had many rival automakers
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It is too early to spot green shoots of economic recovery, Bank of England Monetary Policy Committee member Andrew Sentance said in remarks reported by Channel 4 News. "We have to get to a point where the economy stops contracting before it begins to recover," he said, according to an interview posted on the broadcaster's
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European shares fell in early trade on Tuesday as political risk reared its head with a reported missile launch by North Korea, further dampening a rally that has added a third to equities since early March. At 0708 GMT, the FTSEurofirst 300 index of top European shares was down 0.6 percent at 852.27 points, on
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Former President of the Republic Glafcos Clerides underwent angioplasty on Monday to open a small artery and is said to be in a stable condition. According to his doctor, Iosif Kasios, Clerides was admitted to the American Heart Institute on Monday afternoon following chest pain earlier in the day. Doctors ruled the former President required
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Greek Foreign Minister Dora Bakoyioannis has expressed support for efforts by Nicosia to solve the Cyprus issue, sending at the same time a clear message to Turkey that if it wishes to become a full member of the European Union, it should adopt fully EU principles and values. Addressing the Economist Conference in Athens, Bakoyiannis
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Τhe State Secretary for Justice of the Netherlands, Nebahat Albayrak, expressed today her readiness to help Cyprus deal with illegal immigration and political asylum issues. After a meeting with Minister of Interior, Neoklis Sylikiotis, she said that Cyprus, Greece, Malta and Italy have the highest influx of immigrants. After Cyprus she will visit the remaining
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Moody's Investors Service has placed on review for possible downgrade ratings of two Bulgarian financial institutions: DSK Bank AD and First Investment Bank Ltd. This action reflects a review of stresses arising from the current crisis and the increasing convergence between the government's ability to support the banks and its own debt capacity. In the
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Nokia started on Monday the roll-out of its much-anticipated online content store, aiming to follow the success of Apple's App Store. Nokia said it had started moving Ovi Store to production servers preparing for the global commercial launch, and the store was opened to users of few of its phone models in Australia and Singapore
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Oil prices fell towards $61 a barrel on Monday ahead of OPEC's meeting in Vienna, where the group was widely expected to agree not to cut oil output further. News that Nigerian militants breached an oil pipeline in the Niger Delta failed to push prices higher. U.S. energy firm Chevron said on Monday the attack
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The world economy has avoided "utter catastrophe" and industrialized countries could register growth this year, Nobel Prize-winning economist Paul Krugman said on Monday. "I will not be surprised to see world trade stabilize, world industrial production stabilize and start to grow two months from now," Krugman told a seminar. "I would not be surprised to
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