FRANKFURT (Reuters) - General Electric Co aims to buy a medium-sized business in Germany in the next six months to expand its technological footprint, German daily Sueddeutsche Zeitung reported, citing a manager at the U.S. conglomerate.
General Electric Co aims to buy a medium-sized business in Germany in the next six months to expand its technological footprint, German daily Sueddeutsche Zeitung reported, citing a manager at the U.S. ...
The scheme, which began in August last year, was designed to encourage banks to lend more money, both to individuals and businesses.
But the Bank of England has announced that net lending fell by more than £2.4bn in the final quarter of last year.
However, UK banks have taken up nearly £14bn since the scheme started.
Lloyds was amongst the banks that lent less, while Barclays lent more.
THE Financial Times announced this morning that "cabinet ministers" have been discussing the nationalisation of the Royal Bank of Scotland. Britain's government already owns 82% of the bank after bailing it out in 2008. Fed up with the lack of lending, "senior government figures" are discussing whether to spend £5 billion buying up the 18% of RBS the state doesn't own.
FRANKFURT (Reuters) - General Motors may expand production capacity in low-cost countries while closing its Bochum plant in Germany and Ellesmere Port site in Britain, a German magazine said, citing an internal strategy document. If vehicle sales rise, GM would build the additional cars in countries such as Poland, Russia, China, India, Mexico and Brazil, Der Spiegel said, quoting the document, entitled "Global Assembly Footprint". ...
Faced with a barely growing economy, the government has targeted smaller companies as a major source of growth and has introduced reforms to encourage start-ups and make it easier for existing businesses to expand, reports The Telegraph.
one-year anniversary of the launch of President Obama’s National Export
Initiative, U.S. Commerce Secretary Gary Locke, Agriculture Secretary Tom
Vilsack, U.S. Trade Representative Ron Kirk, Small Business Administration
Administrator Karen Mills and Export-Import Bank Chairman Fred Hochberg
announced today the launch of a year-long, interagency, multi-city outreach
campaign designed to help connect small and medium sized businesses (SMEs) with
the resources they need to sell more of what they make overseas.
America to win the future, more small and medium sized businesses must export,
because the more small businesses export, the more they produce; the more they
produce, the more workers they need, and that means good-paying jobs here at
home,” Locke said.
first of these New
Markets, New Jobs events is scheduled for February 17th
in Minneapolis, Minn. Locke is expected to be joined by Kirk, Mills,
Hochberg, Minnesota Governor Mark Dayton and Minneapolis Mayor R.T. Rybak,
among others. The Minnesota stop will be followed by events in Los Angeles,
Calif., Louisiana and Wilmington, Del. in the coming months. The conferences,
which were called for in September’s Report
to the President on the National Export Initiative, are intended to
reach more than 3,500 small and medium sized companies interested in exporting.
On Tuesday, Acting Deputy Secretary of Commerce Rebecca
Blank addressed the growing economic importance of Saudi
Arabia at the U.S.-Saudi Business Opportunities Forum. In
her remarks, Blank stressed the value of a U.S.-Saudi commercial relationship
that benefits both Americans and Saudis.
Blank praised King Abdullah for the steps he has taken to
encourage economic partnership with the U.S.,
citing greater public participation within the political system and the
appointment of the first woman to lead Saudi
Arabia’s education system. These political and social
advancements have led to Saudi Arabia’s jump to 12th in the World
Bank’s Ease of Doing Business Survey, up from a rank of 64th only a
few years ago. Saudi Arabia
is committed to expanding and diversifying its economy beyond oil and into new
knowledge-based industries, a commitment evidenced by over $750 billion of
infrastructure investment to take place over the next five years.
In her speech, Blank reminded us that this progression
within Saudi Arabia helps
the U.S. expand trade and
economic cooperation across our borders. As our 22nd largest market
worldwide, Saudi Arabia’s
rapidly expanding population and industrial base will continue to provide
investment and employment opportunities for American citizens. Last year alone,
Saudi Arabia supported more
than 1,000 American companies, including some 500 small- and medium-sized
businesses. Blank insisted that partnering with Saudi
Arabia will be conducive to meeting President Obama’s
National Export Initiative goal of doubling exports by the end of 2014.