Despite the uncertainty, growth continues

Article Abstract:

Portugal became a member of the European Union(EU) in 1986 and has since privatized bodies which were nationalized in 1975. Politicaluncertainty has resulted from planned parliamentary elections in Oct 1995, followed bypresidential elections in Jan 1996. The economy grew by 1% in 1994, an improvement on areduction of 1% for 1993, but not as strong as growth rates of some 5% seen in the late 1980s.Unemployment dropped to 6% in 1993, rising top 7% in 1994. Inflation was 6.5% in 1993, andthe aim is for inflation of between 3.5% and 4.5% in 1995.

Economic development, Portugal

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Babcock risks burn-out from power overload: big and troublesome power station contracts have dogged Babcock in the past. Despite a widespread restructuring there is still too high a possibility of it happening again

Article Abstract:

Babcock International, a ship refitter and boiler manufacturer for the power generation industry, has undergone a period of transition resulting in its return to the dividend list. However its energy division is still incurring losses despite major restructuring including a reduction in the workforce. The division is expected to move into profit by 1996-97, although 1995 losses could reach 3 million pounds sterling. Its materials handling operation is solid and will benefit from a 1 million pounds sterling restructuring programme.

Power Boiler and Heat Exchanger Manufacturing, Oil, Power, Gas Firing Eqp, Finance, Boilers, Babcock International Group PLC, Boiler-makers, Boiler makers

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Restructuring

Article Abstract:

Increases in real interest rates and capital mobility from the start of the 1980s have encouaged companies to increase capital productivity, claims Goldman Sachs. This has occurred in the United Kingdom and US, but capital productivity has not improved in mainland Europe except for Germany, where some progress has been made. This lack of progress means that European unemployment levels are high, and equity markets could be affected unless capital productivity improves.

Western Europe, Capital productivity

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