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Ford's Europe Sales Dive

Wall Street Journal Original article ›
LyrArc Article Gist
Ford says its new car sales in Europe declined by 16% in June even though auto sales in Europe declined by 1.3%. For the first half of 2012 Ford sales declined by 9.6%, and industry sales fell by 4.8%. The markets in Russia, Turkey and Romania are offsetting declines in other countries.
Wall Street Journal Original article ›
BusinessWeek Original article ›
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France lags behind Germany and other countries in competitiveness. France's share of European exports decreased from 15.6% in 2000 to 12.5% in the first 5 months of 2011, according to Coe-Rexecode, an economics consultancy firm. Germany has used the last decade to lower social spending and state spending, bring wage restraint, and making industry more productive. France has not experienced a similiar process. Competitiveness and growth is needed for France to improve public finances. After the rise in borrowing costs to Italy France's premium over Germany to borrow for 10 years went up to 71 basis points on July 13, it is now at 62 points. France's trade deficit is rising and was 7 billion euros in April and May, according to Societe Generale.
New York Times Original article ›
New York Times Original article ›
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After the resignation of Montebourg as Economy minister, the administration of prime minister Manuel Valls in France moves to the centre and takes up pro-business policies to generate economic growth.
Wall Street Journal Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
Matteo Renzi wins a confidence vote in the Senate by 169 to 139. His economic plan is to give business a boost. He calls on Italians to free themselves from "cultural subalternity" or inferiority to Europe, and "to dream bigger." The plan is for a double digit cut in Italy's payroll taxes, creating guarantee funds for small companies, and paying all of the money the government owes to suppliers estimated at 100 billion euros. Renzi covered the subject of addressing school repairs costing several billion euros. His new cabinet has half of the ministers as women, some under 40, six from the previous Letta government. The Economy minister is Pier Carlo Padoan, chief economist of the OECD.

Renzi's Italian Job

Wall Street Journal Original article ›
LyrArc Article Gist
This WSJ editorial points out that the biggest thing in Mr Renzi's favor is the desire for change in Italy, and the public frustration that favors "haste and boldness." Renzi's changes to the tax code are needed as many middle class Italians take less than half of their pay after taxes. Business will get relief from high payroll taxes to boost employment and create new jobs. The current payroll taxes of between 28% to 30% for employers and another 9% for employees are too high.The lower taxes should also reduce the part of the economy that is underground and increase tax revenues. One opinion survey show 48% of Italians favor leaving Italy because of the economic stagnation, another reason to move with speed on the changes.
WSJ Original article ›
New York Times Original article ›
Wall Street Journal Original article ›
The New York Times Original article ›
Washington Post Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›
WSJ Original article ›
http://www.hindustantimes.com/ Original article ›
LyrArc Article Gist
The new prime minister of Pakistan Abbasi consults with former prime minister Sharif in Murree, Pakistan, after the Supreme Court disqualifies Sharif from the position. Sharif's brother, Shahbaz, the chief minister of Punjab province will contest a by-election for parliament to replace Abbasi.

Wall Street Journal Original article ›
Wall Street Journal Original article ›
New York Times Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›

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