Daimler Pares Brazil Jobs as Apple Becalms Market in Turmoil
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The global rout in emerging markets is taking a deeper toll on companies.
Daimler AG said Monday it’s eliminating 1,500 jobs at its Brazilian truckmaking division as demand for commercial vehicles in the country shows no sign of recovery. That outlook also prompted Ford Motor Co. to temporarily close a car plant and engine factory in Brazil earlier this month. In South Africa, mobile-phone operator MTN Group Ltd. gave up on a plan to repay early about $500 million of debt held in Nigeria, its biggest market, because it can’t get hold of dollars there.