GM Earnings Slump on Health Costs, Europe
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General Motors Corp.  on Wednesday said its earnings fell 37 percent due to growing U.S. health-care costs and bigger losses from its European automotive operations.
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European stock markets eased back in early trading as dealers digested some disappointing earnings news on both sides of the Atlantic.
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General Motors Corp.  swung to a profit in the fourth quarter but fell short of Wall Street expectations on mounting mortgage losses from its former finance unit.
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A slew of dismal earnings results drove European equity markets sharply lower on Thursday as fears grew of a global economic slowdown.
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Lagging sales and lower-to-flat net vehicle pricing has General Motors Corp. searching for ways to trim costs, but the world&#39;s largest automaker doesn&#39;t expect drastic operational changes
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Germany, with its high costs, reluctant consumers and restive auto workers, has become a major drag on the country's two largest carmakers, DaimlerChrysler and Volkswagen , which both reported mixed earnings on ...
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General Motors Corp., the world&#39;s biggest carmaker, will save 500 million euros ($664 million) annually at its unprofitable European unit after reaching an agreement with unions to cut 11,500 jobs and reorganize.
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U.S. stocks slipped for a second day   on Friday as fears lingered that corporate profits would be   hurt by slowing economic growth and shares of General Motors   Corp. GM.N fell on newspaper reports a tie-up with rivals   looks less likely.
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The world's largest car builder General Motors is to cut 12,000 European jobs, trimming $500m (Â£280m) from annual costs, the Financial Times reports.
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Germany&#39;s economic woes deepened as General Motors Corp. and KarstadtQuelle AG announced plans to cut as many as 15,000 jobs in Europe&#39;s largest economy.
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Volkswagen AG's profit fell 31 percent in 2004 as the German automaker fought headwinds from the weak dollar in the U.S. market and sluggish consumer spending at home.
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General Motors Corp.'s third-quarter earnings rose 3.5 percent, but the company's automotive business lost &#36;130 million primarily because of heavy losses in Europe and lower production and intense pricing pressure in North America.
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European equities were lower in early trade on Monday as financial stocks slipped on profit taking while carmakers were hit by a profit warning from Japan's Nissan (NASDAQ:NSANY), which is part owned by Renault.
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US car giant General Motors says it is to shed 12,000 jobs in Europe, with Germany worst hit.
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General Motors Corp., the world&#39;s biggest carmaker, will save 500 million euros ($664 million) annually after cutting 11,500 jobs and reorganizing its European division.
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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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General Motors said that soaring health care costs and problems with its European division caused its fourth-quarter profits to fall by more than a third.