UPDATE 1-Daimler denies seeking 1.5 bln euro cost cuts

Newswire

(Recasts with Daimler comment) FRANKFURT, Aug 27 (Reuters) - Car maker DaimlerChrysler AG denied a report on Wednesday that it was aiming to cut costs by 1.5 billion euros ($1.6 billion) this year and may strengthen development and marketing ties between its units. Germany's Focus Money magazine quoted an unnamed DaimlerChrysler executive as saying all areas of the business would be ordered significantly to cut costs in the second half of the year, with the aim of saving 1.5 billion ...

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