global demand

Oil prices fell below $54 a barrel Friday in Asia as investors eyed a possible production cut by OPEC this weekend amid a gloomy global demand outlook.

Honda Motor Corp. said Friday it will cut production in Japan and Europe by 61,000 vehicles, as it continues to grapple with slowing global demand.

Nissan Motor Co., facing a sharp slowdown in global demand, said Friday it would cut production for the second time in two weeks.

Like its rivals in China, Japan and Russia, ArcelorMittal, the world’s largest steel maker, is moving to reduce capacity as global demand wanes.

Carmaker BMW AG said Tuesday its net profit for the third quarter dropped 63 percent as global demand for its sports and luxury cars fell off.

Business is local, recovery begins in our own neighborhoods and towns. What should be clear is that large corporations are not going to lead so called main street out of the coming epoch.

As dozens of countries slip deeper into financial distress, a new threat may be gathering force within the American economy - the prospect that goods will pile up waiting for buyers and prices will fall, suffocating fresh investment and worsening joblessness for months or even years.

Taiwan's United Microelectronics Corp. said it swung to a quarterly loss for the first time in almost seven years as the value of the company's financial investments plumetted and global demand for wafers weakened.

Oil prices fell to their lowest level in more than a year, as the slowing global economy led the International Energy Agency to cut its forecast for global demand.

Ford-owned carmaker Volvo Cars said Wednesday it will slash more than 13 percent of its work force because of falling global demand.