CITY GOES RURAL IN A PASSION FOR SPEED July 4, 2010 CITY petrol-heads were out in force over the weekend, among 175,000 visitors to the Goodwood Festival of Speed at Goodwood House outside Chichester. Among the business visitors to the F1 racing event were Arnauld Bamberger of Cartier, Audi’s Peter Duffy, BlackRock’s James Charrington, and Alfa Romeo/Fiat Group’s Richard Gadeselli. They turned out to watch top [...]
GM executive tipped to head Jaguar Land Rover November 8, 2009 Carl Peter Forster, the European chief of General Motors, has been tipped as the next head of Jaguar Land Rover. Forster was unhappy about GM’s decision not to sell European subsidiary Vauxhall Opel to Canada’s Magna International and is expected to join Jaguar Land Rover within the next few months. The London born GM chief [...]
Jaguar to close Midlands plant September 24, 2009 Jaguar Land Rover (JLR) will close one of its West Midlands plants either in Birmingham or Solihull by the middle of next decade, it said yesterday. But the group, which is owned by India’s Tata, added it would create around 800 new jobs at a plant in Merseyside, where a new “efficient” Range Rover will [...]
Jaguar gets 500m new bank funding October 7, 2009 BELEAGUERED carmaker Jaguar Land Rover (JLR) yesterday revealed it has secured £500m of new funding, easing the pressure on the company after a dramatic slump in car sales during the recession. JLR, which is owned by India’s Tata Motors, said the monies included a £175m loan from the State Bank of India and a new [...]
SOC GEN’S ROGUE TELLS HIS SIDE OF THE STORY May 4, 2010 MILLION-dollar profits and banking “orgies” sound nice and juicy at the best of times, but especially so when they involve a tell-all book penned by a man at the centre of some of the most high-profile rogue trading allegations ever to rock the financial world. Jerome Kerviel has made a household name of himself after [...]
Jaguar losses put a dent in Tata results August 31, 2009 TATA Motors, India’s largest vehicle maker, yesterday posted a consolidated loss for the first quarter as dismal trading at Jaguar Landrover (JLR) weighed on the group. The company reported a 3.29bn rupees (£41.3m) consolidated loss for the first quarter period between April and June, compared with a net income of 7.2bn rupees a year ago. [...]
Ford agrees sale of Volvo March 28, 2010 THE Chinese carmaker Geely has agreed to buy Volvo from US giant Ford for $1.8bn (£1.2bn) in the country’s biggest overseas car purchase to date. The takeover highlights China’s arrival as a major force in the global automobile industry and ends nearly two years of talks over Volvo. Geely said it had secured all the [...]
Jaguar accelerates plant cuts July 12, 2009 Carmaker Jaguar Land Rover (JLR) is gearing up to extend shutdowns at its UK plants, as the auto sector continues to struggle through the downturn. The news comes days after the company launched its new flagship car, the Jaguar XJ, which it hopes will kick start stalling sales. JLR is owned by Indian company Tata [...]
Jaguar axes X-Type model and cuts jobs July 15, 2009 JAGUAR LAND ROVER (JLR) is axing a further 300 jobs – this time at a plant in Merseyside – and is stopping production of its X-Type model, the carmaker said yesterday, as luxury cars are hit in the downturn. “Our industry has been especially badly hit by the recession and the premium sector more than [...]
Jaguar hits 673.4m in losses as it inches towards loan deal July 26, 2009 CARMAKER Jaguar Land Rover (JLR) saw its UK operations tumble to a dramatic loss of £673.4m last year, down from a net profit of £641.5m in 2007. Accounts filed at Companies House show that total recognised losses – which includes money lost on pension schemes – hit almost £1.2bn for 2008. The news of how [...]