World Business Briefs At 10: Japan economy; Lehman; Volvo; JCDecaux Friday, Sep 12 - Round-up of global economies and business . . ECONOMY ------- JAPAN'S ECONOMY shrank 0.7% in the second quarter, less than economists' forecasts of a 0.8% contraction, government data showed today. Revised contraction in GDP for April-June in real, price-adjusted terms was bigger than an initial government estimate of a 0.6% contraction. (various) . . COMPANIES --------- LEHMAN BROTHERS HOLDINGS INC, the investment bank, was Thursday shopping itself to potential buyers--among them Bank of America Corp--just a day after insisting it had found a way to patch up its massive real-estate- related losses. (The Wall Street Journal) +++ VOLVO, the Swedish carmaker, is likely to announce it is cutting production by about 5% due to slump in sales. It is expected to announce a production cut by about 20,000 vehicles. Volvo is expected to sell 400,000 vehicles this year, a fall of more than 12% from 2007. (Financial Times) +++ JCDECAUX and Rupert Murdoch have begun exclusive talks for a $1 bln-1.5 bln (45.7 bln-68.5 bln rupees) deal to exchange Murdoch's eastern European billboard business for cash and a stake in the French outdoor advertising group. (Financial Times) +++ DEUTSCHE BANK said it was in advanced talks to buy a stake in Deutsche Postbank. Announcement ends weeks of rumours as Deutsche Bank looks to boost its consumer business to offset credit crunch-related losses. Deutsche Postbank is the retail banking division of the German post office. (BBC News)
--~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
