The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
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Alcoa swings to profit on lower costs : Report

Alcoa Inc. swung to a third-quarter profit as the aluminum maker reported lower costs that bolstered the bottom line, though revenue fell slightly due to weaker shipments
Still, results easily topped analyst expectations
Still, Alcoa’s quarterly results have been closely watched, as the company is among the first major U.S. firms to report earnings for a new season
Alcoa is also considered a bellwether because it serves a broad range of industries
Alcoa’s results have been stung by flagging raw aluminum prices, as a glut of the commodity has weighed on prices of the metal
In response, the company has been cutting production costs by closing expensive smelters
Alcoa has focused more on making high-strength lightweight aluminum products for cars and planes
On Tuesday, Alcoa affirmed its forecast that global demand for aluminum will rise 7% this year
Overall, Alcoa reported a profit of $24 million, or two cents a share, compared with a prior-year loss of $143 million, or 13 cents a share
Excluding restructuring and other items, income from continuing operations rose to 11 cents a share from three cents
Revenue slid 1.2% to $5.77 billion, as shipments of aluminum products dropped 4.3%
Analysts surveyed by Thomson Reuters expected an adjusted profit of five cents a share on $5.63 billion in revenue
The cost of goods sold fell 8.9% to $4.8 billion, Alcoa reported
The company’s engineered-products-and-solutions unit, which makes small parts like screws and bolts, saw operating income rise 22% to $192 million
The primary metals division, which makes raw aluminum, reported a profit of $8 million, compared with a prior-year loss of $14 million
(END) Dow Jones Newswires

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Teva Pharmaceutical Industries Ltd. plans to reduce its global workforce by 10%, or 5,000 employees, underscoring growing competitive pressures in the generic-drug industry.