NASA to help Toyota probe March 30, 2010 US auto safety regulators said yesterday they will tap the expertise of the country’s top space and aeronautics experts to analyse Toyota’s electronic throttles to see if they are behind the reports of unintended acceleration that have hounded the automaker. Toyota has launched a task force aimed at regaining consumer trust and pledged to give [...]
Petrobras debt issue not due yet March 30, 2010 Brazil’s state-owned oil firm Petrobras does not intend to issue debt in the first half of the year as it focuses on a capitalisation via equity markets, chief financial officer Almir Barbassa said yesterday.
BLOOMSBURY MISSING POTTER MAGIC March 30, 2010 BRITISH publisher Bloomsbury Publishing posted a fall in full-year profit, but raised its dividend after a strong start to 2010. For the year ended 31 December, adjusted pre-tax profit was £7.71m, compared with £11.85m. Revenue fell 13 per cent to £87.22m, reflecting difficult trading conditions and tough comparison from last year when the paperback release [...]
Rio Tinto trial ignites China trade tension March 30, 2010 CHINA warned Australia not to make “irresponsible” comments about the trial of four employees of mining firm Rio Tinto yesterday after Canberra said the trial had left questions about China’s legal system. Verbal sparring over the conviction of Australian citizen Stern Hu and three colleagues underlined foreign investors’ concers about legal transparency in China and [...]
Cable charms voters in the chancellor debate March 30, 2010 YOUGOV has a new addition to its BrandIndex offering: TellYouGov. The usual way to do research is to ask people to fill out surveys: the researcher decides what topic should be explored and the formats in which people are allowed to respond. But TellYouGov allows people to give their views on any topic at any [...]
CITY MOVES | WHO’S SWITCHING JOBS March 30, 2010 Clifford Chance The law firm has elected Michael Bates and Robert Lee as the new joint practice area leaders for its London finance practice, effective for a four-year period starting tomorrow. Bates, pictured, has been a partner since 2001 and specialises in acquisition and leveraged financings in the infrastructure sector. Lee, a partner since 1997, [...]
Future hopes the worst is behind it March 30, 2010 Future, the international special interest media group, said its upcoming results are likely to be in line with expectations. The firm said trading remains “challenging” but is heading in the right direction. First half Ebitda is expected to be lower than the first half of 2009, primarily as a result of unfavourable currency impacts. Future [...]
BEST OF THE BROKERS March 30, 2010 CARLUCCIO’S Altium Securities downgrades its recommendation on restaurant group Carluccio’s from a “buy” to a “hold” ahead of today’s trading update. Blames valuation for the decision. Calculates the shares trade on a multiple of 16.2 times earnings, and says currently its rival the Restaurant Group offers better value. CONNAUGHT Charles Stanley has downgraded its stance [...]
BUSINESS SUPPORTS TORY TAX CUT PLANS March 29, 2010 GEORGE Osborne’s plans to cut National Insurance yesterday met with a flurry of support from the business world, as the shadow chancellor clashed with his 11 Downing Street rivals in a live televised debate. Osborne used the morning of the Channel 4 debate against chancellor Alistair Darling and Liberal Democrat Vince Cable to launch his [...]
CITI SELL-OFF REAPS $9BN PROFIT March 29, 2010 AMERICAN taxpayers stand to nearly double their profit from the bailed-out Wall Street banks after the US Treasury said it would sell its entire stake in Citigroup yesterday. The US government will reap up to $8.8bn (£5.9bn) if it manages to offload the shares at yesterday’s opening price of $4.39, a four-month high. The profit [...]