Saturday 18 November 2017

China in growth plan

China's leaders pledged to maintain stable economic policies to achieve reasonable economic growth in 2014 while forging ahead with reforms, as they wrapped up a closed-door meeting yesterday, state radio said.

Top leaders have unveiled a bold reform agenda for the next decade as they try to steer the economy towards more sustainable growth after three decades of breakneck expansion. China will stick with a prudent monetary policy and pro-active fiscal policy next year, the report said.

VOLKSWAGEN SALES UP

Volkswagen said group vehicle sales rose 4.3pc in November, boosted by strong growth in China, where sales increased 16.7pc. Global sales of cars, sport utility vehicles and vans rose to 828,600 last month from 794,300 the same month a year earlier.

"Our brands enjoyed particularly strong growth in China. However, the challenges on the other world markets remain unchanged," said Volkswagen board member Christian Klingler.

EUROZONE JOBS DATA

The number of people with jobs in the eurozone was unchanged for the second consecutive quarter in the three months to September, showing the bloc's economic recovery has not yet filtered through to the labour market.

But eurozone employment was shrinking more slowly than a year ago on a year-on-year basis -- it contracted 0.8pc in the third quarter against -1.1 in the previous three months, data from the EU's Eurostat showed yesterday. Unemployment remains near a record high above 12pc and is expected to ease only gradually next year as economic growth slowly picks up. Job creation, like the uneven economic recovery, differs from country to country.

COCA-COLA TO SPLIT

Coca-Cola will divide its North American business into two units, as part of its plan to return to a franchise model instead of owning bottlers. The company said the division will result in two operating units -- Coca-Cola North America and Coca-Cola Refreshments.

The world's largest soda company said the Coca-Cola North America division will be led by JAM Douglas. He will continue in his role as global chief customer officer. Paul Mulligan will lead Coca-Cola Refreshments, the bottling division of the business, the company said. Coke said in April it would return toward a franchise model in the US, where independent companies will deliver the drinks to local stores.

Irish Independent

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