BY ANDREW PEAPLE
With flagging growth and the sovereign debt crisis, European companies have no shortage of things to worry about right now. An extra headache: exchange rates. Dollar and euro weakness is hitting earnings at companies from big miners to Swiss watchmakers. That is provoking some to rethink where in the world they should operate.
The forex problem is large, but firms' responses vary. Miners Rio Tinto, Xstrata and Anglo American took a combined $2.1 billion hit to first-half earnings?equivalent to 16% of the total?thanks to the strength ...
BY ANDREW PEAPLE
With flagging growth and the sovereign debt crisis, European companies have no shortage of things to worry about right now. An extra headache: exchange rates. Dollar and euro weakness is hitting earnings at companies from big miners to Swiss watchmakers. That is provoking some to rethink where in the world they should operate.
The forex problem is large, but firms' responses vary. Miners Rio Tinto, Xstrata and Anglo American took a combined $2.1 billion hit to first-half earnings?equivalent to 16% of the total?thanks to the strength ...
Source: http://online.wsj.com/article/SB10001424053111903639404576516320762300818.html
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