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The Business Matrix: Thursday 8 November 2012


Suzuki closes its US car business

The Japanese car manufacturer Suzuki has announced it will close its money-losing car business in the United States and have it file for bankruptcy, citing the strong yen and weak demand for small cars. The company, which has debts of $346m, said it will continue selling motorcycles, all-terrain vehicles and marine products such as outboard motors in the US.

Chinese office for Brazil's farmers

The Brazilian Confederation of Agriculture and Livestock, the main body representing millions of farmers in Brazil, will open an office in Beijing next Wednesday aiming to increase agricultural trade and attract Chinese investment in Brazilian infrastructure. "This is a very important opportunity for Brazil," said the president of confederation, Senator Katia Abreu.

Russians give Carlsberg a boost

Danish brewer Carlsberg reported a 10 per cent rise in quarterly operating profit and said it stood by its full-year outlook after gaining market share in Russia. The world's fourth-largest brewer said its market share in the competitive Russian market, where its brands include market leader Baltika, rose to 38.9 per cent in the third quarter.

Third-quarter sales rise for L'Oreal

French cosmetics company L'Oreal reported a rise in third-quarter sales, yet growth slowed, excluding currency effects, as the company's luxury goods division showed signs of cooling. Third-quarter revenue rose to €$6.8bn from €$4.94bn a year earlier. Stripping out exchange-rate fluctuations and acquisitions, revenue increased 4.6 per cent, but growth slowed for the second consecutive quarter.