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Contents contributed and discussions participated by Diogo Reino da Costa

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Diogo Reino da Costa

Portugal's unemployment rate hits 18% | World news | The Guardian - 0 views

www.theguardian.com/...l-unemployment-government-cuts

shared by Diogo Reino da Costa on 15 Apr 14 - No Cached
  • Portugal
  • unemployment
  • rate hit a startling 18% of the working population.
  • ...33 more annotations...
  • revealed that youth unemployment had soared even higher, with 43% of the under 25s who are not studying now unable to find work.
  • The first quarter
  • "It is a dramatic and brutal increase," said Helena Pinto,
  • a leap in emigration by people desperate to find work.
  • Portugal's economy is expected to shed yet more jobs and shrink by a further 2.3% this year,
  • bidding of the troika of lenders who keep it afloat - the International Monetary Fund, the European Central Bank and the European Commission.
  • government forces ever-deeper austerity
  • Portugal has now been in recession for almost three years
  • Passos Coelho's announcement
  • he would cut another €4.8bn spending over the next three years is expected to harm short-term growth further.
  • sack one in twenty public employees,
  • increase civil service working week from 35 to 40 hours
  • raise the retirement age by a year to 66
  • austerity has so far failed
  • taming the country's budget deficit
  • 5.7% interest
  • country's constitutional court threw out €5.8bn in cuts to
  • civil service pay and sickness benefits.
  • the government selling ten year bonds
  • raising €3bn
  • could have sold three times as much debt this week
  • potential recovery in a country which needed €78bn of bailout money to escape bankruptcy
  • fail to spark growth
  • raising hopes that Portugal could wean itself off aid next year.
  • The government forecasts a third straight year of recession
  • unemployment rising to 18.5%
  • austerity
  • other southern European countries
  • increased last year from 4.4% of GDP to 6.4%.
  • signs of softening
  • the troika
  • extended the repayment period for Portugal's bailout loans
  • seven years
Diogo Reino da Costa

High demand to limit Corvette supplies - 0 views

www.autonews.com/...and-to-limit-corvette-supplies

shared by Diogo Reino da Costa on 08 Jan 14 - No Cached
  • A greater number of exports will reduce the number of cars available in the United States.
  • The 2014 Corvette will be in short supply, with few unsold units on dealer lots until spring at the earliest.
  • production of the two-seat sports car will be capped at about 160 units per day on one shift.
  • ...8 more annotations...
  • Despite high demand for the redesigned sports car, GM will not add a second shift
  • "We've seen this again and again. You bring out a new Corvette and the demand is sky-high at the beginning, and then it tapers off,"
  • "It's not worth making that investment [of a second shift], even though for awhile we make a lot more money getting those cars out there."
  • GM produced 14,960 Corvettes in 2012 in the car's lone plant. If GM sticks to its current production plan for the redesigned 2014 model, output will nearly double to about 30,000 units for a full year.
  • GM has banked enough orders from dealers to keep the plant cranking out cars at 160 per day for at least the next six months.
  • A greater number of exports will reduce the number of cars available in the United States.
  • First, GM plans to offer the redesigned Corvette in nearly all 140 countries that sell Chevrolets.
  • GM spent $131 million to retool the Corvette plant to assemble the 2014 model, which uses a new frame, body and suspension.
Diogo Reino da Costa

BBC News - Qantas shares tumble on shock profit warning and job cuts - 1 views

www.bbc.co.uk/...business-25227315

shared by Diogo Reino da Costa on 05 Dec 13 - No Cached
  • Shares in Qantas sank more than 15% after the Australian airline issued a surprise profit warning and announced 1,000 job cuts.
  • The situation demanded urgent action and the airline would "do whatever we need to do to secure the Qantas Group's future", he said
  • He blamed record fuel costs, a strong Australian dollar and fierce competition from subsidised rivals.
  • ...4 more annotations...
  • Qantas said in a statement it expects to makes losses of up to A$300m ($271m; £165m) for July-to-December. Chief executive Alan Joyce said the airline was facing "immense challenges".
  • The Australian aviation market is one of the toughest of anywhere in the world, the carrier said.
  • rules restricting foreign investment in the carrier should be changed.
  • Qantas argues that these rules have hurt its growth, not least because its major rival Virgin has benefited from increased foreign investment.
Diogo Reino da Costa

BBC News - General Motors to withdraw Chevrolet brand from Europe - 1 views

www.bbc.co.uk/...business-25237227

shared by Diogo Reino da Costa on 05 Dec 13 - No Cached
  • General Motors, the US car giant, has said it plans to withdraw its Chevrolet brand from Europe and concentrate more on its Opel and Vauxhall brands.
  • The withdrawal will begin from 2016, the company said. Chevrolet would no longer have a "mainstream presence" in the region, largely thanks to "the difficult economic situation", GM said.
  • But it has been losing money in the region, where a mature and saturated car market, coupled with a fragile economy, has stifled growth. GM chief executive Dan Akerson said the decision would "allow us to focus our investments where the opportunity for growth is greatest".
  • ...1 more annotation...
  • "Europe is a key region for GM," he added.
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