French aid prompts Renault move
Renault said last month its targets for 2009 were now “unachievable” French carmaker Renault is to shift some car production back to France after the guarantee of state aid. Renault will take the production of its Clio Campus model to the Paris suburbs from Slovenia, creating 400 jobs, a French government minister said. But the European Commission has demanded clarification...
March 20th, 2009 by admin
World Bank lowers China forecast
Slowing growth will hurt job creation for China’s huge poor population The World Bank has cut its prediction for China’s economic growth in 2009 from 7.5% to 6.5%, saying it could not “escape the impact of global weakness”. Falling demand for Chinese goods abroad is seen as the main reason for the cut. But the bank added that China’s economy was still...
March 20th, 2009 by admin
US deficit ‘to hit $1.8 trillion’
The US government has had to spend billions bailing out financial institutions The US budget deficit will hit $1.8tn (£1.25tn) this year, a record amount, according to US Congress estimates. The White House said the prediction by the Congressional Budget Office (CBO) would not alter President Barack Obama’s policy agenda. Nor would it affect its goal to cut the deficit in...
March 20th, 2009 by admin
