FIAT chief executive Sergio Marchionne estimates Europe must cut 10 to 20% of its car production capacity to deal with falling sales. Pricewaterhouse Coopers estimates Europe sold 13.5m vehicles last year, down from a peak of 16m in 2007. Mr Marchionne predicted sales will remain low until at least 2014, unless Europe's debt crisis is solved.
Call for car firms to cut production
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Latest Business News
Sir Allen's first company is sold to the US for £5bn new
A LOUTH-based international pharmaceutical company with roots in Co Armagh has been sold to a US rival in a deal worth £5bn.
£1m pitch deal a World Cup winner new
A CO ARMAGH company has scored a breathtaking goal – a £1m contract in Brazil ahead of next year's World Cup.
Years of high inflation lie ahead new
The UK should be braced for years of high inflation as the cost of living soars stubbornly ahead of wages, a leading economic forecaster warned.
Billionaire investor Ross praises Bank of Ireland new
US INVESTOR Wilbur Ross has called his almost 10% stake in Bank of Ireland shares as his best investment since the financial crisis.
Invest NI aims higher after hitting targets in job creation new
Mark Ennis, chairman of Invest NI, reported that in 2012-13 Invest NI produced "a very strong performance with tangible benefits for business and the economy". He quotes results which are more upbeat than might have been expected.
Coach firm on road to more success with £3m upgrade new
A FAMILY-RUN coach company in Co Antrim is investing £3m on keeping its tour buses on the roads of Ireland and Scotland.