Porsche races ahead with record sales December 12, 2012 ICONIC carmaker Porsche has already broken its previous record for annual sales, selling over 10,000 cars more than the whole of last year. A total of 128, 978 vehicles were sold in the 11 months to November, beating the 118, 868 sold in 2011. November sales alone were up 39 per cent on 2011 sales. Demand [...]
Former regulator Sants takes up job at Barclays December 12, 2012 FORMER financial watchdog Hector Sants is joining Barclays as its head of compliance. Sants, who left the Financial Services Authority in June, had been scoping out new roles at both Barclays and Deloitte. He will take up his new position on 21 January, having already secured FSA approval for his appointment. The 56-year-old will also [...]
London finishes the year with a last minute flotation flurry December 12, 2012 Weather permitting, Veysel Aral and his team will be at the offices of the London Stock Exchange on Monday morning to celebrate a coup. For Aral has become the latest of an elite batch of chief executives who have managed to float their companies on the London Exchange’s main market this year Aral runs Kcell, [...]
Miller and PM aides accused of press threats December 12, 2012 GOVERNMENT aides were yesterday accused of warning journalists not to publish a critical story about Maria Miller, the culture secretary, because of her position in talks regarding regulation of the press. Downing Street spokesman Craig Oliver and Miller’s adviser Joanna Hindley were accused by the Daily Telegraph of warning it about publishing allegations it made [...]
Britain secures compromise on EU bank body December 12, 2012 EUROPEAN leaders were last night close to a deal to give the European Central Bank the right to supervise banks across the bloc after Britain secured a crucial agreement which would limit the new body’s powers. Germany, the Netherlands and Austria all agreed to back Britain’s demands for “double majority” voting, which means any decisions [...]
What the other papers say this Morning December 12, 2012 FINANCIAL TIMES Steel chief Mittal upbeat on US growth US manufacturing is poised to reap the benefits of cheaper energy, propelling the world’s largest economy into a new growth phase, says Lakshmi Mittal, chairman and chief executive of ArcelorMittal. Brussels backs Hutchison Orange deal Europe’s top competition authority approved the acquisition of France Telecom’s Orange [...]
Phone hacking rings up £206m bill at Wapping December 12, 2012 NEWS INTERNATIONAL, the British newspaper arm of Rupert Murdoch’s News Corporation, swung to an operating loss in its last financial year, after it took a massive writedown from closing the News of the World. Company filings revealed that News International’s former chief executive Rebekah Brooks received a £10.9m compensation package when she stepped down last year [...]
Bumi moves towards Bakrie split as new CEO appointed December 12, 2012 LONDON-listed miner Bumi moved towards a divorce from powerful Indonesian family the Bakries yesterday, as the company’s board said it was working towards a split “as soon as practical”. Nick Von Schirnding, head of investor relations at Bumi, has been appointed as chief executive to replace outgoing head Nalin Rathod. The Bumi board was yesterday [...]
Markets come out against end to inflation targeting regime December 12, 2012 MARKETS and the Treasury yesterday talked down incoming Bank of England governor Mark Carney’s suggestion that a central bank may need to tear up the monetary rulebook to deal with a sustained slump. In a speech in Toronto, Carney said that there was a case, in a prolonged slump, for abandoning inflation targets, and moving [...]
Private sector drives ongoing jobs recovery December 12, 2012 PRIVATE SECTOR employment provided the fuel for the jobs boom to continue into the third quarter, data showed yesterday. Private sector employment climbed 65,000 in the third quarter, according to data from the Office for National Statistics, outweighing the 20,000 fall in overall public sector employment. This fall means the private sector now employs 823,000 more [...]
