Toyota recall hits UK February 3, 2010 TOYOTA will recall over 180,000 vehicles in the UK as part of the ongoing faulty accelerator saga. The embattled car maker says it is working with the DVLA to identify owners of vehicles with faulty accelerator pedals. The vast clean-up operation is over a £9 part that takes just 30 minutes to repair. At least [...]
Pace of expansion slows in UK services February 3, 2010 HEAVY snow and a rise in sales tax led to an unexpected slowing in Britain’s service sector last month, but investors stuck with bets the Bank of England (BoE) would halt its pro-growth quantitative easing programme today. Separate surveys showing signs of revival in British consumer confidence and the labour market supported the view that [...]
3i mulls sale or float of Ambea firm February 3, 2010 Private equity group 3i is exploring selling Nordic care home operator Ambea or listing it on a stock market, several bankers close to the deal said yesterday. The company, which operates under its Mehiläinen and Carema brands, could fetch somewhere in the €700m (£611.9m) to €1bn range, the bankers said, higher than last year’s estimate [...]
Moody’s warns US that weak growth threatens its triple A credit rating February 3, 2010 IF THE US economy grows anemically, already stretched government finances will be crimped, potentially putting downward pressure on the top AAA US rating, said Moody’s Investors Service yesterday. “Economic growth is very important to our assessment (of the sovereign rating),” said Steven Hess, senior credit officer in the sovereign risk group with Moody’s Investors Service [...]
02 in talks with Apple over iPad February 3, 2010 02 is in talks with Apple over providing mobile access for the iPad. However, it is not believed an exclusive deal like the one in place for the launch of the iPhone will exist and it will almost certainly be available on several carriers when it hits the UK 02 yesterday said it was watching [...]
Private sector job losses in US at two-year low February 3, 2010 THE pace of US job losses in the private sector slowed in January as employers reported the smallest payroll decline in nearly two years, while the dominant services sector grew slightly, data showed yesterday. A report by ADP Employer Services showed the United States lost 22,000 private sector jobs last month, smaller than the 61,000 [...]
SSE suffers as demand drops despite cold February 3, 2010 Scottish and Southern Energy (SSE) yesterday revealed it has signed up 200,000 customer accounts in the nine months to 31 December, taking the total to 9.25m across the UK. However SSE, the second largest electricity generator in the UK and Ireland, also reported reductions in household consumption of gas and electricity in the four months [...]
CITY VIEWS: HOW BADLY DO YOU THINK TOYOTA’S REPUTATION HAS BEEN DAMAGED? February 3, 2010 JEREMY PHILLIPS | J4B “I don’t have one at the moment, but this news wouldn’t affect whether I’d buy a Toyota. It shows me that they care about their customers. They may not have done it last year, but this shows that they’ve learned from their mistakes.” NICOLE WILEMAN | STANDARD BANK “I don’t have [...]
Metals trader Ambrian launches buyout division February 3, 2010 PRECIOUS metals specialist Ambrian Capital has launched a private equity business focusing on natural resources, spearheaded by three former Glencore executives. Ambrian Natural Resources will be led by partners Nicolas Rouveyre, Jean-Pierre Conrad and Kilian Carrarini, and will look to buy and sell businesses in the base and precious metals space. The firm will operate [...]
BT pension firm Hermes sets up a credit boutique February 3, 2010 HERMES, the fund firm owned by the BT pension fund, has set up a new credit boutique with a £400m investment from its parent as it seeks to drive third-party business. The launch is part of a wider effort to grow Hermes’ third-party business, which chief investment officer Saker Nusseibeh, said would aim to bring [...]