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2010/09/30

Business News for Thursday September 30, 2010

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Chevy revs up goals in Europe

PARIS (UPI) -- A General Motors executive in Paris said the company's goal was to more than double annual sales of Chevrolet cars in Europe by 2016.

Wayne Brannon, Chevrolet Europe's president and managing director, said the company was counting on sales of an Aveo subcompact hatchback, a Cruze hatchback and the Orlando compact minivan to reach its goal of selling 1 million vehicles in Europe per year, the Detroit Free Press reported Thursday.

Chevrolet Europe is the best-...

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EU sues Britain over Internet privacy

BRUSSELS (UPI) -- The European Commission said it would take Britain to court to strengthen its privacy laws related to Internet advertising.

EU rules require members to prohibit tracking an Internet user's online behavior, then targeting that user with unsolicited advertising if it does not have the individual's permission to do so. Users, the rules say, must provide consent to have their online behavior tracked so it can be turned into an advertising strategy.

In Britain...

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Fed moving toward regulatory changes

WASHINGTON (UPI) -- The chairman of the U.S. Federal Reserve said the central bank has 50 rules to write and 250 projects to complete to comply with the 2010 financial reform bill.

Providing members of the Senate Committee on Banking, Housing and Urban Affairs with an update on the Fed's progress complying with the sweeping reform measure, Federal Reserve Ben Bernanke said Thursday that new rules, studies, reports and transfers of responsibility -- both to the Fed and away -- were ...

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Canadian GDP down slightly in July

OTTAWA (UPI) -- Canada's economic output contracted in July, falling 0.1 percent with broadly felt declines, Statistics Canada reported Thursday.

Canada's gross domestic product in July dropped 0.1 percent in the month with declines in manufacturing, retail, wholesale trade, construction and forestry.

David Tulk, a senior strategist at TD Securities, told the Financial Post, "It was expected that the pace of growth in the Canadian economy would decelerate in the second ...

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