Peugeot works on turnaround

PSA Peugeot Citroen impressed investors by improving its 2013 cash flow goal yesterday, saying spending cuts and an alliance with General Motors had already begun to pay off. The struggling French carmaker now aims to reduce closely watched cash consumption before restructuring costs “at least by half” from last year’s €3bn (£2.6bn) – potentially undercutting its earlier €1.5bn target.