GSAM equity chief urges European businesses to cut costs

Others should follow the example of Ireland, Italy and Spain to regain competitiveness, says a Goldman Sachs Asset Management investment head

European businesses need to cut expenses to help kick-start the region’s recovery, according to one of Goldman Sachs Asset Management's chief investment officers.

Speaking at an equities briefing yesterday, Suneil Mahindru, CIO of international equity, said a return to business competitiveness was key for the "gradually recovering" region.

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