Word: upturn
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...airline is braced for further scraps, even if its bottom line looks healthy in the long run. "Are we expecting a rash of complaints?" says Ryanair's head of communications Paul Fitzsimmons. "Yes." O'Leary had better fasten his seat belt. Showroom Showdown Despite hopes for an upturn, European car sales remain stalled. The manufacturers' response? Slash prices. Less than four months after it launched its new flagship Golf, Volkswagen last week announced it is throwing in free air-conditioning, the equivalent of an 8% discount on its base model. The move follows a 31,085 rebate offered...
Will Bush Blink Again? Having flexed their muscles and forced George W. Bush to lift U.S. tariffs on imported steel last week, the E.U. and the World Trade Organization won't be toweling down just yet. Hailing an upturn in the economy and a better outlook for America 's steel industry, Bush said the time was right to end the 21-month-old subsidies, which violated WTO trade rules. But now U.S. trade partners are pressing for other concessions. "We have a number of disputes with the U.S. ," says Arancha Gonzalez, spokeswoman for E.U. trade Commissioner Pascal Lamy...
WYSS: It's a change in the structure of the job market. First, the payroll numbers miss new-corporation formation. In an economic upturn, that's a big deal. Second, companies are not hiring; they are putting people on contract. Those don't show up in the payroll numbers...
...rose from 89.2 in July to 90.8 in August, its fourth consecutive rise. The Munich-based economic institute surveys 7,000 executives each month about production, orders and inventories. "We've turned the corner," says Gernot Nerb, an economist at Ifo. "We're in the early phase of the upturn...
...European Union, which has a historically peevish attitude toward mega-mergers like General Electric and Honeywell, has more recently shown a softer side. But business has hesitated. "What was missing was the confidence of industry to believe in recovery," says Vieille. "This should open the way." If the upturn in M and A activity continues, it'll be good news for beleaguered investment banks, who have laid off tens of thousands of their staff worldwide in recent years. But it's far less clear that merger mania is good for the companies themselves or their workers. The very consultants...