Fiat SpA posts its first financial loss in nine years, dragged down by its automotive unit, which closed factories and reduced inventories in light of a global economic decline in 2001. The parent company says it plans to increase its divestment of non-core assets as a way to boost its balance sheet this year, which is expected to be equally as difficult as the last. Fiat reported a net loss of E791 million ($686 million) for fiscal year 2001, down sharply from 2000’s E578 million ($501 ...
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