Finnish metals group Outokumpu Oyj says it will slash 2,500 jobs worldwide in the next four years to cut costs by 350 million euros ($455 million) and improve profitability as stainless steel demand continues to fall.
The price of oil continued to climb Thursday, a day after its biggest gain in five months, as recent glum data from the U.S. and Germany boosted expectations of central bank action to shore up the global economic recovery.
A top European Central Bank official warned Thursday that another interest rate cut might not be much help for eurozone countries in recession - because already low rates are not getting through to businesses and consumers.
With deep cracks visible in the walls, police had ordered a Bangladesh garment building evacuated the day before its deadly collapse, but the factories flouted the order and kept more than 2,000 people working, officials said Thursday. At least 194 people died when a huge section of the eight-story building splintered into a pile of concrete.