General Electric Co GE.N CEO Jeff Immelt told investors on Tuesday that the largest U.S. Still, big companies are bracing for a downturn. The euro this week tested 11-month lows as policymakers from the 17 nations that use the currency struggled to find consensus on whether to establish a permanent bailout fund to protect EU governments from default.
The continent’s sovereign-debt crisis, which has already claimed the governments of Italy, Spain and Greece, threatens to send Europe into recession as states slash spending to austerity levels. "It's too big a problem for the European leadership to let fail." "The European situation is very serious, but I think most of us feel that the political leadership in Europe will not let this get out of hand," James McNerney, chief executive of Boeing Co BA.N, told reporters on a conference call this week. industrial companies are bracing for lower European sales, but do not expect the continent's troubles to undermine the rest of the global economy.
After years of market turmoil, they have become used to uncertainty.įrom the world's largest package delivery company United Parcel Service Inc UPS.N to avionics maker Rockwell Collins Inc COL.N, top U.S. NEW YORK (Reuters) - Corporate America is worried about Europe’s spreading sovereign debt crisis, but CEOs aren’t pushing the panic button just yet.
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