Rising aversion in Poland towards the European Union is worrying, the country's outgoing central bank governor told CNBC. » Read More
Western Europe has long been the most popular getaway for U.S. tourists, but rising airfare and the weak dollar may have Americans traveling to more exotic destinations in 2008.
With Detroit and much of the auto industry shut down this week and gearing up for the Detroit Auto Show next month, I thought it would be a good time to take a few minutes and share my Christmas wishes for the auto world. I hope Santa brings you everything you want.
Instead of beating the drum for the greatness of the single European currency, the last missive was a demand for European companies to quit blaming the strong euro for what are their own mistakes. But some readers took umbrage.
Hedge wise and sleep well. Or, as they say in German: Gut gehedged ist halb gewonnen! Silvia Wadhwa gives her take on the single currency.
As we close out this year, I know some of you are asking, "Hey Toyota Phil (a nickname a friend gave me after accusing me of giving the Japanese automaker too much praise) what do you think will happen in the auto industry next year?" Well, since you asked, and I know some of you haven't asked, here are my prognostications for 2008.
The same banks that demanded market forces be allowed to work in other indutries are now begging central banks for help.
"Drat!" you say. "Yawn! Not more morning notes. Not another string with market pearls of wisdom I might have to read."Fear not! I threaten you only with idle thoughts and random contemplations from the other side of the Big Pond (from beyond the Channel even). In other words, from parts of the world where a Hamburger doesn't necessarily come as a snack between two bits of a soggy roll, where a Frankfurter might well eat a wiener, and where cars -- oh, bliss! -- generally have a stick shift and a clutch!It's also from a part of the world -- eat your heart out, friends from the British Isles -- where you can travel from country to country without ever showing your passport and, more to the point, never have to change your money.OK, that also means the land where battalions of politicians argue passionately over the size, color and bending-angle (seriously!) of bananas, about what exactly passes for a standard-size €uro condom and acceptable work practices for a €uro chimney sweep. If that doesn't justify the title of this blog -- €urocentric -- then I don't know what does.
The Austrian running the world's largest food group talks about trust and the need to delegate in order for an organisation of Nestle's complexity to succeed. Peter Brabeck also hits back at critics of his decision to take the dual mandate of Chairman and CEO, whilst rebuffing journalists who write he's chosen the wrong candidate to succeed him as CEO.
The father of private equity in Europe, and 'bankroller' of UK Prime Minister Gordon Brown within his Labour Party, talks passionately to Simon Hobbs about what it really takes to be an entrepreneur and why society may explode in violence if the private sector does not do more.
Want further proof we're in a global auto market where the countries outside the U.S. are playing a bigger role? Consider this: there are reports that Europe is on the cusp of passing up the U.S. as #1 in the world for sales. Think about that for a second.
GM said it's interested in exploring further cooperation with automaker AvtoVaz as one way to "expand our footprint in Russia."
Who'd have thunk it. Russia has become one of the hottest and fastest growing auto markets in the world. Now Chrysler wants a piece of the action and it may wind teaming up with a Russian automaker GAZ. Today in Michigan Chrysler executives and Michigan's governor are reportedly set to meet the president of GAZ to discuss the Russian automaker investing in the U.S.
Forget about L.A. being tinsel town, and style capital. At this year's Los Angeles Auto Show the automakers are trying to wrap themselves in the "Green Leaf" of fuel efficiency. Ford announced a new sustainability plan that will include developing direct injection gas engines, lighter cars, and more hybrids.
Many Americans are opting for French foie gras instead of a traditional Turkey drumstick this Thanksgiving holiday, even if the dollar doesn't go as far in Europe these days.
A surge in euro zone inflation in October beat all expectations, data showed, raising the odds for a rise in European Central Bank interest rates despite weakening sentiment and sending the euro up against the dollar.
Austria's Erste Bank, central Europe's second-biggest lender, posted a 34 percent rise in third-quarter net profit as its Czech unit recovered and its Romanian bank beat estimates.
The latest reports in Automotive News about strong sales in Eastern Europe helping Ford and Toyota meet sales goals, confirms something I've been hearing for some time from Big 3 execs. Don't focus so much on the U.S. and lose sight of the real battle over global sales.
Turkey has a volatile economy whose growth rate has exceeded 6 percent in many years (and reached 9 percent in 2004), but suffered sharp reversals in 1994, 1999, and 2001.
European stocks were seen edging lower on Monday, after rallying for nearly three weeks, but losses could be limited as buoyant crude oil prices are expected to lend support to energy shares.
Euro-zone industrial production rose much more than expected in August, the European Union's statistics office said, raising hopes of continued strong growth despite a rising euro and the global credit crunch.