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U.S. markets recover from steep losses
GOTHENBURG, Sweden, Sept. 30 (UPI) -- Volvo Trucks said Tuesday it would lay off nearly 1,400 workers in plants in Belgium and Sweden to match production with slumping sales.
Volvo will negotiate with unions to make staff cuts at plants in Ghent, Belgium, and in Gothenburg and Umea, Sweden, a company statement said.
The company said 610 employees at the Gothenburg facility and 370 at the Umea cab plant would lose their jobs, The Local reported.
An additional 400 jobs would be lost in Ghent, the company said.
"A cost reduction plan will also be implemented to meet the lower sales levels and increasing raw material costs," Volvo said.
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BEIJING, May 24 (UPI) --
China National Offshore Oil Corp. announced Thursday it made a new oil discovery in the shallow waters of south Liaodong Bay.
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WASHINGTON, May 24 (UPI) --
Australia is seeking to upgrade its F/A-18F fighter aircraft to the "G" configuration, the U.S. Defense Security Cooperation Agency said.
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First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
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It is a whole new ball of wax in Europe these days.
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