European losses hit GM's profits
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General Motors sees its net profits fall 37% in the last quarter of 2004, as it continues to be hit by losses in Europe.
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General Motors Corp. GM.N on Thursday  said it expects earnings this year to fall, due partly to a $1  billion rise in health-care costs, and the automaker also  pushed back a longer-term profit target.
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MUNICH, Germany  - Losses at planemaker Airbus slashed operating profit at Franco-German parent EADS  by 86 percent to 399 million euros ($525 million) in 2006, but the fall was cushioned by profits in defense, the group said.
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General Motors aims to restructure its loss-making European operations without resorting to involuntary redundancies or shuttering any
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European equities fell sharply on Tuesday as profits were taken following seven sessions of gains on the FTSE Eurofirst 300.
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After reporting a $39bn loss, due to huge accounting charges, GM says its performance was "inadequate".
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General Motors (GM) is following through with plans to axe 12,000 jobs in the loss-making European division as the car giant bids to trim operating costs by Â£350 million-a-year.
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DaimlerChrysler reported fourth-quarter results which fell far short of expectations on Thursday, hit by a collapse in profits at the Mercedes Car Group luxury division.
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European equity markets gave back some of their recent gains on Tuesday as profit taking followed the previous session's run up to near four month highs.
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DaimlerChrysler AG, the world&#39;s fifth- biggest carmaker, reported a third-quarter profit as Chrysler&#39;s US sales rose. Volkswagen AG&#39;s earnings fell a seventh quarter in a row on higher sales incentives and Fiat SpA&#39;s loss widened.
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General Motors Corp., the world's biggest automaker, said Wednesday its net income fell 37 percent in the fourth quarter, led downward in part by continued struggles at its European operations.
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General Motors Corp. reported third-quarter earnings Thursday that were at the low end of the company&#39;s July guidance. Quarterly earnings rose to $440 million, or 78 cents per share, from $425 million, or 79 cents per share, a year ago.
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General Motors Corp.  said on Wednesday it swung to a profit in the fourth quarter as it cut costs and saw gains in its core auto operations.
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General Motors&#39; loss-making European division is to cut 12,000 jobs in a bid to save $665m (Â£347m) annually. The redundancies will affect a fifth of its workforce, with 10,000 positions going at Opel plants in Germany.
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U.S. stocks fell on Thursday as  disappointing earnings from automaker General Motors Corp.  GM.N, lackluster economic data and unrelenting oil pushing  higher took its toll on investors.
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Losses at planemaker Airbus  slashed operating profit at Franco-German parent EADS   by 86 percent to 399 million euros ($525 million) in 2006, but  the fall was cushioned by profits in defense, the group said.
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SINDELFINGEN, Germany  - DaimlerChrysler reported  fourth-quarter results which fell far short of expectations on  Thursday, hit by a collapse in profits at the Mercedes Car  Group luxury division.