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Pfizer withdraws bid for over-the-counter sales of Viagra
An application to make Viagra, the anti-impotence drug, widely available without a prescription has been withdrawn by the manufacturers after pressure from regulators.
2008-11-20 09:00:00
EU renewables industry optimistic about 2020 outlook
Despite gloomy economic forecasts, manufacturers of solar panels, wind turbines and other non-fossil fuel technologiesï¿½sayï¿½they areï¿½ready to deliver more than the bloc's target of sourcing 20% of energy...
2008-11-20 03:07:27
BRUSSELS
ECO1Economy/BusinessNo Christmas gravy for Europe's ailing carmakersBy Nicholas RigilloBrussels, Nov 20 DPA Ah, the style of an Italian Ferrari, the solidity of a German Mercedes, the flair of a French Renault!The car industry is not only Europe's pride and joy, it provides income for some 12 million families and last year generated a combined turnover of 551 billion euros $700 billion, or about 5 percent of the continent's gross domestic product GDP.One in every three cars sold around the world is European.But now, caught between the global credit crunch, a recession and the need to make greener vehicles, Europe's automobile industry says it is facing its most difficult moment since the oil crisis of the early 1970s.Sales have shifted into reverse since the spring, and the European Automobile Manufacturers' Association ACEA is predicting layoffs of up to 5 percent of the industry's continental workforce.Manufacturers are appealing for help. All indications are that they won't get all they want.One demand from ACEA is for more schemes similar to what Italy did to help save Fiat - state-subsidized discounts for people who trade in their old bangers for new, less-polluting models.Another involves 40 billion euros in cheap loans to help develop fuel-efficient technologies.Luxembourg Prime Minister Jean-Claude Juncker, one of the European Union's most influential figures, on Tuesday joined top officials from France and Germany in calling for a European-wide rescue plan similar to the one being considered by US President George W Bush."If the US administration is prepared to spend billions of dollars to save Ford and General Motors from collapse, then we cannot simply look on and abandon our manufacturers in Europe," Juncker told the German tabloid Bild.Officials in Brussels say the European Commission is working on a range of short-term measures which should help the industry head off recession.But they caution industrialists against raising their expectations too high.The European Investment Bank EIB, whose task it would be to provide carmakers with low-interest loans, has dismissed the 40-billion-euro demand as "fantasy".Spokesman Rainer Schlitt told DPA that the EIB has already loaned 7 billion euros to car manufacturers over the past 12 years.The 40 billion euros that carmakers seek would be only five billion short of the total amount of cheap credit that the EIB provided across all EU industries in 2007.While France's PSA Peugeot-Citroen and Renault and Germany's Daimler are among those that suffered the greatest drop in sales in October, Europe's biggest headache concerns Opel, GM's German subsidiary.German Chancellor Angela Merkel has said she is considering a request for credit guarantees to help Opel overcome a possible liquidity crisis due to the massive cash shortages being experienced by its US-based parent company.But Schlitt said the EIB would only be able to finance research and development projects, not "Opel-style" aid.Commission head Jose Manuel Barroso has also said he wants to help. But he is also threatening to refer the United States to the World Trade Organization WTO over Washington's plans to bail out its own ailing car industry with subsidies worth $25 billion.One of the problems facing the likes of Opel is that the EU has very strict rules on what kind of state aid governments can provide to their industries."Member states cannot export their problems to other member states," said Jonathan Todd, spokesman for EU Competition Commissioner Neelie Kroes."You should not have a situation where a subsidy received by one company puts another company in another member state, or in the same member state, at risk," Todd said.This means governments cannot bail out a specific carmaker, and that any help to the industry should be agreed with other EU car-making nations.And while Opel is clearly suffering from the effects of the global credit crunch, officials also reject any comparison with the banking industry, which has enjoyed credit guarantees and aid totalling some 1.5 trillion euros."If banks collapse, the economy collapses," one official said, while the bankruptcy of a single car manufacturer would not jeopardize a country's entire economy.Thus, Europe's carmakers can still expect billions of euros in state aid. But this will likely be spread over a number of years and will mostly be targeted at research and development projects that lead to more fuel-efficient, less-polluting cars. And that aid will almost certainly not boost car sales this Christmas.--Indo-Asian News Service791 Words20110750
2008-11-20 03:00:00
Car parts firm to lose 200 jobs
A manufacturer of car parts in Letchworth, Hertfordshire is closing with the loss of about 200 jobs.
2008-11-19 14:07:11
State businesses affected by auto industry
Some state manufacturers say that dozens of Connecticut businesses would feel a ripple effect if the automotive...
2008-11-17 10:02:13
Microsoft strengthens its high performance computing proposition with launch of windows HPC server 2008
New Delhi, Nov 17 ANI/Business Wire India: Microsoft Corporation India Private Limited today announced the Release to Manufacture RTM of Windows HPC Server 2008 - its latest offering in the High Performance Computing HPC segment. With this, Windows HPC Server 2008 will be available to Independent Software Vendors ISVs and computer manufacturers for final distribution. Windows HPC Server 2008 provides an easy-to-deploy, cost-effective and scalable high-performance computing solution - which combines the power of the Windows Server platform with rich, out-of-the-box functionality to help enhance productivity and reduce complexity of any given HPC environment. Evaluation copies of Windows HPC Server 2008 are now available for download at http://www.microsoft.com/hpc.Commenting on the launch, Pallavi Kathuria, Director, Server Business Group, Microsoft India said, "The success achieved by Windows Compute Cluster Server 2003 in the last few years is a strong testament of Microsoft's value proposition in the High Performance Computing market. We are confident that as the successor, Windows HPC Server 2008 will help us further build on this momentum by offering an easy to deploy, cost effective and scalable HPC solution for firms to leverage their existing resources and scale from workstation to cluster - all in a familiar Windows environment".With this launch, Microsoft has strengthened its commitment to driving the adoption of High Performance Computing beyond traditional HPC workloads into mainstream scenarios. "While the contribution of HPC solutions has been acknowledged worldwide in complex computational scenarios like engineering, science and medical research projects - today, this technology has indeed evolved beyond its conventional realms of utility to include a wide range of mainstream modern day technologies like storage, networking and data management", said Kathuria.Microsoft brings the value of an integrated HPC solution and a productive development environment to customers for whom high-performance computing has been out of reach in the past. By focusing on productivity for users, developers and administrators, Microsoft is positioned to take high-performance computing mainstream. "The launch of Windows HPC Server 2008 is just another step in our vision to drive HPC mainstream" added Kathuria.In India specifically, apart from the academic space, Microsoft has experienced a great rise in the adoption curve of its HPC solutions in commercial scenarios like Manufacturing, BFSI and Media and Entertainment, and has been working with leading names in these areas in India.Based on Windows Server 2008, Windows HPC Server 2008 is designed to deliver:-- Improved productivity of systems administration and cluster interoperability by dramatically simplifying the overall deployment, administration and management over the entire system lifetime while ensuring interoperability with existing systems infrastructure-- Rapid HPC application development through integration with Visual Studio 2008, which provides a comprehensive parallel programming environment. In addition to supporting standard interfaces such as OpenMP, multiprocessor interconnect MPI and Web services, Window HPC Server 2008 also supports third-party numerical library providers, performance optimizers, compilers and debugging toolkitsSeamless scaling from workstation to cluster by allowing end users to harness the power of distributed computing through a familiar Windows-based desktop environment without requiring specialized skills or training. ANI
2008-11-17 10:03:08
Manufacturers get xA34m loan fund
A xA34m loan fund is announced to help small and medium-sized manufacturing firms across the West Midlands region.
2008-11-14 12:00:00
Now everyone is worried about consumer confidence, which has an index all its...
Now everyone is worried about consumer confidence, which has an index all its own. Consumers are not buying enough, it is said, which is hurting retailers and wholesalers...
2008-11-14 01:15:32
Tax rebates raised for Chinese exporters
Worried by slowing growth and widespread reports of factory closures, Beijing to step up support for manufacturers...
2008-11-13 11:21:10
Hyundai produces 2 millionth car; donates it to CRY With image
BUS24Business/RightsHyundai produces 2 millionth car; donates it to CRY With imageMumbai, Nov 13 IANS Hyundai Motor India Limited HMIL, the country's largest exporter and the second largest car manufacturer, Thursday handed over the key of the 2 millionth car it has produced to city-based NGO CRY Child Relief and You as a goodwill gesture.HMIL Managing Director H.S. Lheem symbolically handed over the key to CRY brand ambassador Shah Rukh Khan, who in turn passed it on to Irwin Fernandes, director of the NGO's West and Volunteer Action wing at a function here.CRY is a leading advocate for child rights, which has worked over three decades to ensure children get access to their basic rights.Commenting on the production achievement, Lheem said: "Since its inception, Hyundai Motor India has been committed to honour the sentiments and desires of the Indian customers and have always brought the best and the latest in automotive technology and design backed by the best of warranty, competitive pricing and a huge sales and service support network. "This new record of producing the fastest 20 lakh 2 million cars will further empower Hyundai Motor India to play a vital role in the growth of the Indian automobile industry," Lheem added.Hyundai rolled out the first Santro on September 23, 1998 and has achieved the production landmark in a little over 10 years. HMIL presently markets 33 variants of passenger cars across segments: the Santro in the B segment, the Getz Prime and the i10 in the B segment, the Accent and the Verna in the C segment, the Sonata Embera in the E segment and the Tucson in the SUV segment.The company registered total sales of 327,160 vehicles in calendar year CY 2007, an increase of 9.2 percent over CY 2006. In the domestic market it clocked a growth of 7.6 percent as compared to 2006 with 200,412 units, while overseas sales grew by 11.8 percent with exports of 126,748 units.--Indo-Asian News Servicevm/dg345 Words13112022
2008-11-13 10:03:06