Job cuts---Lane (medium)
Europe market---Mike (fast)
>> u.s. employers planned fewer job cuts last month than announce nd july. according to a survey from job placement firm challenge jer gray, job cut announcements fell 6% from the month before. the august total was 32% lower than the cuts reported in the same month last year. the slowdown in the pace of firings is not pointing to a pickup in hirgs, however. economists are projecting companies won’t start hiring until late this year, as rising productivity enables them to produce more with fewer workers. deutsche post d.h.l. unit said it will fire 2,870 employees, 6% of its u.s. workforce. it’s shifting package pick up to an airborne business. airborne couriers serve d.h.l. customers. d.h.l. is considering which of its 169 u.s. package service centers to close. d.h.l. will have more than 41,000 employees after the firings. deutsche post completed a $1.05 billion purchase of airborne’s ground delivery. deutsche post plans to expand its ground delivery business in the united states. interest rates are the focus in europe this week as the bank of england and european central bank hold their monthly policy meetings. michaelle mckee is here with the details.
>> lane, it’s a new month so time for a new round of central bank policy meetings in europe. bank of europe and central bank meet thursday. neither is expected to take action on interest rates. the u.k. central bank is forecast to leave the base rate at 3.5%, according to the median 39 kmoyfts surveyed by bloomberg news. the e.c.b. is expected to leave its refinance rate at 2. --2%. the rates are at the lowest since 1946. the central bank sees increasing reason to expect a recovery this year after contraction in the second quarter t outlook for european manufacturers improved for a second month in august to a six-month high, according to an index released yesterday. the e.c.b. whose governing council will meet thursday, probably leaving rates unchanged until the middle of next year, according to a bloomberg sur vaf 22 economists. business surveys point to improving sentiment, particularly in germany where a sentiment index climbed to a 14 mongt high earlier this month. in england the chartered institute of purchasing and supplies building activity rows to 5 of.3. in a separate survey of 1247 manufacturers showed exports up for the first time in two years. the figures are a latest to signal a rebound in the second biggest european economy. today’s surveys suggest the worst is passed for britain’s economy. policymakers no longer need to cut interrates.
>> we’re into a new trading day, however, the dollar unchanged against the euro, up a little against the pound, still down against the yen.
>> daimler chrysler is playing catchup the with rivals general motors and ford. its chrysler unit is adding incentives to most 2004 models as it reverses a 4.7% sales decline so far this year.
