Stockholm - Swedish heavy-vehicle maker Volvo Trucks said Tuesday it planned to cut some 1,400 jobs in its workforce, citing the need to reduce production capacity over "declining demand for trucks in the European market."
The measures planned for the coming months included cancelling evening shifts and were to affect plants in the Swedish towns of Gothenburg and Umea, and in Ghent in Belgium, Volvo Trucks chief executive Staffan Jufors said in a statement.
New York - Japan's Mitsubishi UFJ Financial Group will acquire a 21-per-cent stake in Morgan Stanley as the financial crisis has hurt confidence in US banks and hampered liquidity, the firms announced Monday.
The largest Japanese financial group will pay 9 billion dollars to become the primary shareholder. The cash infusion comes amid a credit crunch that has brought turmoil to world financial markets and prompted a 700-billion-dollar bailout deal making its way through the US Congress.
Belgrade - Serbia and the Italian carmaker Fiat on Monday signed a joint-venture deal expected to bring almost 1 billion euros (1.3 billion dollars) in investment and revive the moribund Serbian car industry.
Fiat would pour 700 million euros and Serbia another 200 million euros into the Zastava factory in Kragujevac, which once made the infamous Yugo car.
Washington - The troubled automakers General Motors, Ford and Chrysler got a lift Saturday from the US Congress, which gave the final green-light for 25 billion dollars in loans to the auto industry to help develop fuel-efficient cars.
Congress also lifted an offshore oil-drilling ban and approved 602 billion dollars for the departments of defence, homeland security and veterans affairs.
The final approval came from the Senate after the House of Representatives gave approval earlier this week.
India's leading car manufacturer Maruti Suzuki plans to launch its all new compact sedan, A-Star, by mid November in the domestic market.
With the launch, India will become the first country to drive this car designed and developed by the company as a global strategic model. Swift, Sx4 and Grand Vitara were among the other world strategic models that the company had launched in India earlier.
The latest car will be Maruti Suzuki's seventh model in the A2 segment, which will compete with rival car models like Hyundai i10, Tata Indigo CS, Swift among others.
Stockholm - Swedish heavy-vehicle maker Volvo Trucks said Tuesday it planned to cut some 1,400 jobs in its workforce, citing the need to reduce production capacity over "declining demand for trucks in the European market."
New York - Japan's Mitsubishi UFJ Financial Group will acquire a 21-per-cent stake in Morgan Stanley as the financial crisis has hurt confidence in US banks and hampered liquidity, the firms announced Monday.
Belgrade - Serbia and the Italian carmaker Fiat on Monday signed a joint-venture deal expected to bring almost 1 billion euros (1.3 billion dollars) in investment and revive the moribund Serbian car industry. 
Washington - The troubled automakers General Motors, Ford and Chrysler got a lift Saturday from the US Congress, which gave the final green-light for 25 billion dollars in loans to the auto industry to help develop fuel-efficient cars.
India's leading car manufacturer Maruti Suzuki plans to launch its all new compact sedan, A-Star, by mid November in the domestic market.
