Peugeot Scores as Cutbacks Kick in - Presented by: The Aol. On Network

It's been burning cash at a rate of 200 million euros a month. But PSA Peugeot Citroen says it's aiming to at least halve that - and soon. Europe's second-largest automaker is implementing tough spending cuts It also says its alliance with General Motors is paying off. The news sent shares soaring more than 10 percent - their highest in more than a year. Peugeot chief Philippe Varin.

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