Renault deepens loss

Article Abstract:

Renault has issued a profit warning for 1996 and the company's operating loss will be greater than expected. The company has been hit by the end of French incentives for buying cars which led to a drop in car sales of a third in Jan 1997. The company also blames price competition in Europe, and has reduced its prices, which will affect margins. Renault's shares have been hit by the profit warning. The company's long term prospects could be affected if it does not achieve a sustained profit before the next downturn.

Regie Nationale des Usines Renault

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Daimler-Benz: crystal ball gazing

Article Abstract:

Daimler-Benz reported a loss of 5.7 billion German marks for 1995, and has forecast its results for the following three years. Turnover should rise to 132 billion German marks by 1998, with operating profit above 6 billion marks. Daimler is making a bid for a minority stake in AEG, and published these forecasts as part of the offer. Dasa's losses should drop to 780 million German marks in 1996 from 2.7 billion marks, and should break even for 1997, according to the forecast.

Aircraft, Aircraft Manufacturing, Aerospace industry

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Daimler-Benz: going round the Benz

Article Abstract:

Daimler-Benz is postponing discussions on ending the separate identity of the board of Mercedes-Benz. Helmut Werner, Mercedes' head, aims to retain the company's identity and there is concerned that morale at Mercedes-Benz could be affected if integration were carried out. Mercedes-Benz accounts for nearly all the group's profit and around 70% of turnover. Jurgen Schremp, chairman of Daimler-Benz, is seen as unlikely to retreat on the issue of integration.

Management

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