ITALY: Struggling Fiat reports €34 million net Q2 loss - paper
Fiat has reported an operating loss of €127m (about $US125 million) for the second quarter as a €394m loss at Fiat Auto wiped out profits at its truck, Ferrari and CNH farm equipment units, the Financial Times (FT) said. The newspaper said Fiat's reported pre-tax profit of €28m, compared with a profit of €317m a year ago, was due to a one-time gain of €671m from the sale of one third of Ferrari to a group of investment banks.
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