Tag Archives: worsening
Pfizer Q1 profit up, but drugmaker cuts outlook
Pfizer Inc.'s first-quarter net income rose 53 percent despite falling sales, mainly because the world's second-largest drugmaker took big charges a year ago. Pfizer's results fell short of Wall Street's expectations, and the company lowered its profit and sales forecasts for the year, blaming sudden worsening currency exchange rates. Continue reading
Chavez’s breathing problems worsen, has severe new infection
CARACAS (Reuters) – President Hugo Chavez's breathing problems have worsened and he is suffering from a new, severe respiratory infection after undergoing cancer surgery in Cuba, Venezuela's government said in a somber update on Monday. Reading the latest official assessment of Chavez's health, Information Minister Ernesto Villegas said the 58-year-old socialist leader's condition was very delicate. “Today there is a worsening of his respiratory function Continue reading
ThyssenKrupp To Cut 2000 Jobs On European Steel Business Revamp
DUISBURG (dpa-AFX) – German steel giant ThyssenKrupp AG (TYEKF) said Friday that it will cut 2,000 jobs as part of a restructuring program at its European steel business amid a ‘worsening steel cl… Continue reading
S&P cuts Egypt rating on political strife
CAIRO (Reuters) – Standard & Poors' cut Egypt's long-term credit rating on Monday and said another cut was possible if deepening political turbulence undermines efforts to prop up the economy and public finances. Egypt's popular uprising two years ago chased away tourists and foreign investors, helping push its budget deficit into double digits as a percentage of national output and worsening its balance of payments. A divisive battle over a new constitution this month has also prompted the government to delay urgent austerity measures and put a crucial $4.8 billion IMF loan on hold. Continue reading
Anti-austerity strikes sweep southern Europe
MADRID/LISBON (Reuters) – Spanish and Portuguese workers will stage the first coordinated general strike across the Iberian Peninsula on Wednesday, shutting transport, grounding flights and closing schools to protest against spending cuts and tax hikes. Unions in Greece and Italy also planned work stoppages and demonstrations on a “European Day of Action and Solidarity” against austerity policies, which labor leaders blame for prolonging and worsening the continent's economic crisis. .. Continue reading
Syria’s wealthy businesses feel civil war squeeze
Syria's wealthy, long cultivated by President Bashar Assad as a support for his regime, are seeing their businesses pummeled by the bloody civil war. Factories have been burned down or damaged in fighting Continue reading
IMF: Global economic slowdown getting worse
International Monetary Fund said the global economic slowdown is worsening and warned U.S. and European policymakers that failure to fix their economic ills would prolong the slump. Continue reading
China’s imports shrink in sign downturn worsening
China’s imports shrank unexpectedly in August in a sign its economic slump is worsening, and the Chinese president warned growth could slow further, prompting expectations of possible new stimulus spending. Continue reading
BMW earnings fall 28 percent
German luxury automaker BMW AG said earnings fell 28 percent in the second quarter due to higher costs for staff and investments in new technology and warned that a worsening of Europe's debt crisis or a slowdown in China could hurt its business. Continue reading
