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G-8 Insists Greece To Stay In Euro As Differences Fades

Leaders of the Group of Eight nations pushed for Greece to stay in the euro area and supported boosting growth, even as an increasingly isolated Germany said Europe can’t spend its way out of the debt crisis. Faced with differences between ...

BMW poised to add X4 to lineup in 2014

BMW appears set to add an X4 as part of plans to expand its crossover lineup in 2014.Conceived along the lines of the highly successful X6, the X4 is a smaller and more agile four-seat model. Although it shares the ... Feeling pressure from Porsche

While stopping short of confirming a definitive production approval for the new SUV, AutoWeek's source suggested it had the backing of CEO Norbert Reithofer, who is expected to announce its addition to the lineup as part of BMW's plans to sell 2 million cars annually by 2020.

While the new X3 is aimed at strong-selling SUVs such as the Audi Q5 and the Mercedes-Benz GLK, the X4 will be targeted directly at the Porsche Cajun and an expected C-segment four-wheel-drive model from Alfa Romeo due in 2012.

Speaking about the Porsche Cajun, a BMW insider said: “This car is motivating our development department at the moment.”

North American market conditions are heavily influencing BMW's decision to bring the X4 here.

“We see this car competing in the same price bracket as premium wagons,” a source said. “We think it will appeal particularly to U.S. car buyers.”

The X4 is expected to come with a choice of four- and six-cylinder gasoline and diesel engines mated to a six-speed manual, a seven-speed dual-clutch or an eight-speed automatic transmission. Like the X3, BMW does not plan a two-wheel-drive option.

The X4 will use BMW's latest electronically controlled Dynamic Performance Control system, providing an individual proportioning of power to each rear wheel dependent upon prevailing traction.

Sitting at the top of the lineup will be a performance-orientated X4M model boasting styling upgrades, a future twin-turbocharged inline six-cylinder and a seven-speed dual-clutch transmission from the BMW M division.

The X4's double-wishbone (front) and multilink (rear) suspension will be tuned to deliver more engaging handling than the X3, with a lowered ride height, reduced wheel travel, uprated antiroll bars and unique spring and dampers, the latter offering variable control.

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2010 U.S. car sales: Better than 2009 but still bad

This September's U.S. light vehicle sales were 27 percent below the September 2007 tally. ... Ford is the leader

Ford Motor Co.’s domestic makes were up a substantial 46 percent for the month, and each of the Chapter 11 twins posted a gain. Chrysler Group jumped 61 percent over an absolutely awful 2009, and GM’s four surviving domestic makes were up 11 percent over last year’s seven entries. Chevrolet, Buick, Cadillac and GMC sales rose 23 percent.

Market share for the Detroiters rose 1.4 percentage points.

For nine months, imports held a 55 percent share, and the Detroit 3 had 45 percent, the same as in September, and the Detroit 3 gained 1.2 percentage points in market share.

The nine-month total for the industry was 8,621,790, which was 10 percent better than in 2009 but 30 percent worse than in 2007.

September advances for the top import groups were Hyundai-Kia Automotive, 44 percent; Nissan North America, 34 percent; American Honda Motor Co., 26 percent; and Toyota Motor Sales U.S.A., 17 percent.

Among individual brands, the top three spots for the year seem to be pretty well decided: Ford, Chevrolet and Toyota. After nine months, Ford led second-place Chevrolet by about 128,000 sales, and Chevy was nearly 59,000 ahead of third-place Toyota.

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Financial Technologies launches Mauritius bourse

Exchange solution provider Financial Technologies India has launched an international multi-asset exchange Global Board Of Trade (GBOT) in Mauritius, which will offer currency and commodity derivative products like metals and energy. ...

Google earnings beat Wall Street targets

Google eased fears that big spending would erode margins as its results blew past Wall Street's targets, and the web search leader revealed for the first time the strength of its fledgling mobile and online display ad businesses. ...
Analysts also pointed to a 16 per cent jump in "paid clicks" on Google's search advertisements, while earnings handily surpassed expectations despite hiring at a near-record pace and a one-third jump in operating costs.

Shares of Baidu, the No. 1 search engine in China, rose 2.8 per cent to $100.99 following Google's results. Google has lost market share in China this year, following a spat with Beijing over censorship that resulted in Google relocating its search site to Hong Kong.

Google's stock has underperformed the broader market in 2010, partly because the company's growth prospects appeared to be slowing amid increasing competition from social networking powerhouse Facebook, which counts more than 500 million users.

On Wednesday, Facebook and Microsoft unveiled improvements to Microsoft's Bing search engine that incorporate personalized Facebook data, such as restaurant recommendations from a person's friends, into search results.

Google CEO Eric Schmidt, who participated in Thursday's earnings conference call for the first time in several quarters, said the company was also working to make its search results more personal.

Google has been on an acquisition spree, buying more than 20 companies in 2010, including several companies that were developing social networking technology.

The company added more than 1,500 employees to its payroll in the third quarter - which some analysts said was a record pace for the company - and its operating expenses totaled $2.19 billion, up from $1.64 billion in the year-ago quarter.

CFO Pichette said the Internet industry was waging a "war for talent." He added that its YouTube online video site was now "monetizing" over 2 billion views a week, a rise of 50 percent from a year earlier

The world's largest Internet search engine posted a third-quarter net income of $2.17 billion or $7.64 a share, excluding items, surpassing Wall Street's average estimate of $6.69 a share, according to Thomson Reuters I/B/E/S.

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