NEWS | IN BRIEF March 11, 2010 Daihatsu is the latest Japanese carmaker to issue a recall, affecting 274,551 vehicles. The company, a subsidiary of beleaguered Toyota, announced the recall yesterday amid fears of several possible defects affecting its Hijet and Atrai wagon models. Potential issues include loose or missing suspension bolts, loose fuel hoses and defective brake lights. Toyota, which owns [...]
UK high-speed rail network to cost £30bn March 11, 2010 PLANS to build a high-speed rail network connecting London with Northern Britain were revealed yesterday by transport secretary Andrew Adonis, in a project expected to cost £30bn. Adonis laid out his proposals for the 335 mile “Y” shaped line, which is expected to significantly cut travel time to the West Midlands, Leeds, Manchester and Sheffield [...]
Carlyle quits Shanks takeover March 11, 2010 TAKEOVER talks between buyout firm Carlyle Group and Shanks fell apart yesterday after a disagreement between the two over pricing. Carlyle had looked poised to take over the waste management group but talks fell apart this week after it offered significantly less than Shanks originally wanted. Carlyle made a final offer of 120p a share [...]
Air demand up as flight losses halve March 11, 2010 AIRLINES in emerging markets will lead a global rebound in air traffic, as commercial carriers worldwide see collective losses halve this year, according to an airline trade body. The International Air Transport Association (IATA) said forecasted losses for 2010 will reach $2.8bn (£1.86bn), marking an increase from 2009 profit losses of $5.6bn. IATA said the [...]
BMW records a fall in profit March 11, 2010 BMW’S cost cutting measures have begun to gain traction as the German premium automaker posted a better-than-expected 2009 profit despite lower vehicle production. BMW said yesterday its pre-tax profit rose 18 per cent to €413m (£375m), easily beating the €253m forecast by analysts, even though car production fell 13 per cent during the same period. [...]
Superfast broadband roll-out March 11, 2010 TECHNOLOGY that allows superfast broadband to be transmitted using telegraph poles is being trialled. If successful the scheme could be rolled out to allow London commuters in key towns to increase their broadband speed ten-fold. The trial, being carried out by Virgin Media, is part of a movement to bring next generation digital services beyond [...]
Arbuthnot strikes out at government for damaging prospects at small banks March 11, 2010 ARBUTHNOT Banking Group yesterday hit out at the government for crippling smaller banks with a “one-size-fits-all” approach to punitive regulatory policy. Arbuthnot has avoided the Bank Payroll Tax altogether by not paying any bonuses over £25,000, but it said the new rules – including the bonus tax and changes to capital requirements – could damage [...]
Conservatives pledge to invest in a high-speed Internet network March 11, 2010 INVESTING in a high-speed Internet network would open up a new global trade route for Britain, boosting economic recovery and creating thousands of jobs, the opposition Conservative party claimed yesterday. The party plans to stimulate £29bn of private investment in the broadband network by opening up access to infrastructure currently dominated by BT and providing [...]
CITY MOVES | WHO’S SWITCHING JOBS March 11, 2010 Alexander Proudfoot The consultancy has hired a slew of City heavyweights to its new UK advisory board, chaired by Sir Patrick Brown, chair of the Go-Ahead Group. The board also includes Schroders chairman Michael Miles (pictured); AON UK chairman Paul Manduca; Regus Group chairman John Matthews; and Christopher Sheridan, a non-executive at Standard Bank. Lexicon [...]
The sun is shining on property in the Med March 11, 2010 THIS year’s freezing winter may well have proved a tipping point in your decision to invest in a sunny property abroad – and it couldn’t have arrived at a better time. Possibly by the time the time London’s largest overseas property fair, A Place in the Sun (held at Earl’s Court) rolls around 26-28 Mar, [...]
