International Business

Daimler-Benz to Move Jobs Abroad: Germany’s largest industrial group announced a program intended to escape the effects of the strong German mark, which has soared against the dollar and other currencies this year. The group also forecast a “severe” loss for 1995, despite a strong performance in its Mercedes-Benz luxury car division, improvements in operating business and lower costs. The forecast shocked analysts, who had expected steady or higher profit for the year. Under the plan, production would be moved abroad and purchasing from overseas suppliers increased. The announcement touched a raw nerve in Germany, given the repeated complaints by that country’s industry that labor costs are too high, vacations too long and labor laws too restrictive.