Fiat SpA reports a reduced operating loss of €25 million ($28 million) in the year’s second quarter, compared with €127 million ($143 million) in like-2002 and €342 million ($384 million) in first-quarter 2003. The decline is the result of cost-reduction efforts at its automotive unit, Fiat Auto SpA, as well as the divestment of money-losing operations. (See related story: Fiat Cutting 12,300 Jobs as Part of Latest Turnaround Plan) While overall losses were pared, net ...

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