Enjoy Chalet Marithe in Chamonix, one of France’s best-loved winter sports resorts. Party or pamper — the choice is yours at the Mooser Hotel. Monte Rosa Hütte features 18 mini-dormitories in the snow. Watch out for the reindeer outside Chalet Auriane. Petite Marmotte is a romantic chalet for two. The family-run Petit Relais is opening Gstaad up to skiers on a budget. HIDE CAPTION Europe’s finest slopes Dolomites, Italy Chamonix, France St. Anton, Austria Zermatt, Switzerland La Tzoumaz, Switzerland Courchevel, France Gstaad, Switzerland << < 1 2 3 4 5 6 7 8 > >> STORY HIGHLIGHTS San Lorenzo Mountain [...]
European businesses are putting “critical-only” travel plans in place Report: France, Italy and Spain have cut business travel spending in 2012Some fear employee productivity could sufferGrowth projections for 2013 remain cautiousLondon — New figures show that tough trading conditions across Europe are forcing many firms to making even tougher financial decisions — particularly when it comes to their travel budgets.Paul Tilstone, the managing director of the Global Business Travel Association (GBTA) in Europe, says it’s not surprising that companies are slashing spending on business trips.”What we’re seeing are companies putting in place critical-only travel plans and that has a knock [...]
European debt crisis: The cast of characters As the drama of the European debt crisis unfolds, it’s tough for Americans to keep track of the main players, much less follow the plot. To resolve the crisis, 17 disparate countries united under the euro currency must work together to bring national budgets under control and fix the region’s overleveraged banking system. There are just a few problems: Each country has its own agenda and none of them wants to be told what to do. Though the strong German economy is largely backing the bailout efforts, the recipients of its grudging largesse [...]
DETROIT General Motors Co posted a surprisingly strong profit on Wednesday and said it was targeting a return to break-even levels in its European operations by mid-decade after a loss of as much as $ 1.8 billion in that region this year. Shares of the automaker rose more than 5 percent in early trading. “We still have a lot of work to do, especially in Europe,” GM Chief Financial Officer Dan Ammann said in a statement. GM’s third-quarter net income attributable to common shareholders fell to $ 1.48 billion, or 89 cents a share, from $ 1.74 billion, or $ [...]
Out of all the problems facing the U.S. economy, the sovereign debt crisis in Europe may pose the greatest risk to the recovery. But what exactly is going on in Europe, and how does it affect American consumers? What’s Going on Over There? When history looks back on this period of time, one of the overarching themes will be debt. Countries have become overleveraged on every level. But it’s not the only problem facing Europe. Instead, there are three problems that are all self-perpetuating and feeding on one another. First, some governments are too indebted and can no longer afford [...]
LONDON/DETROIT Ford motor Co unleashed a second volley of European job cuts and plant closures on Thursday in a bid to halt regional losses that the automaker now expects to surpass $ 3 billion over two years. Ford told British unions Thursday it would scrap its Southampton van factory and an associated stamping facility in Dagenham in mid-2013, slashing 1,400 jobs and ending vehicle manufacturing by Ford in Britain. The move comes a day after Ford announced it would close a major car plant in Genk, Belgium, in late 2014. In all, Ford cut 6,200 jobs and reduced European production [...]
LONDON/DETROIT Ford unleashed a second volley of European job cuts and plant closures on Thursday to try to halt regional losses it expects to total $ 3 billion over two years. A day after announcing the closure of a major car plant in Genk, Belgium, Ford told British unions it would scrap its Southampton van factory and an associated stamping facility in Dagenham next year, slashing 1,400 jobs. Thursday’s announced closures end vehicle manufacturing by Ford in Britain and bring its total job cuts to 6,200, reducing European production capacity by 18 percent to save $ 450-500 million a year, [...]
LOS ANGELES European private-equity firm Permira and a group of other investors have reached a deal to buy U.S. genealogy website Ancestry.com Inc. for about $ 1.6 billion, or $ 32 a share, The Wall Street Journal reported early Monday, citing unnamed people familiar with the deal. Shares of Ancestry.com ended Friday trading at $ 29.18. The report said the investors hope to grow the site globally, with expansion into Western Europe a goal.
LOS ANGELES Spain is ready to make a formal request for aid, allowing the European Central Bank to buy its sovereign debt, but is delaying an announcement due to concern about the effect on other euro-zone members, the Financial Times reported Monday, citing an unnamed Spanish official. While Spain doesn’t plan to seek immediate aid from the European Stability Mechanism bailout fund, it would request a credit line in order meet a requirement for the ECB to buy Spain bonds, the report said. However, concern that other debt-challenged euro-zone nations — Italy in particular — might see their own borrowing costs rise has prompted delay from Madrid, the report said.
BERLIN A deal to appoint Luxembourg’s Yves Mersch to the European Central Bank’s board could be clinched this week, the head of the European parliament said on Monday, ending a standoff that has deprived Germany’s Bundesbank of a powerful ally at the heart of the ECB. European Parliament President Martin Schulz told Reuters that both he and European Council chief Herman Van Rompuy would acknowledge the controversy that has held up the appointment – the absence of any women policymakers on the ECB board – by raising the issue at a European Union summit on Thursday. “We also expect the [...]