BMW and Toyota to join forces June 24, 2012 BMW and Toyota are planning to expand cooperation beyond green car technology and diesel engines, Der Spiegel said yesterday, without citing any sources. The German premium car maker agreed with the Japanese manufacturer last December to supply diesel engines to Toyota from 2014 in Europe and collaborate on lithium-ion battery research for electric cars.
Ocado to name Tatton-Brown as finance chief June 24, 2012 DUNCAN TATTON-BROWN, the former finance boss of debt-laden gym chain Fitness First, is this week set to be named as the new finance director of online supermarket Ocado. Tatton-Brown was fired along with other top Fitness First executives in February as part of a radical boardroom shake-up by the troubled gym group’s private equity backers, [...]
City wary of Bank’s £140bn lending scheme June 24, 2012 THE Bank of England’s £140bn lending plan will fail to boost the economy, according to our readers. More than half of the Voice of the City panel, run with PoliticsHome, said the credit easing and lending initiatives will have no positive impact. A third of people (33.91 per cent) said the plans would have no [...]
Schaeuble tells Greece to push on with cuts June 24, 2012 GREECE’S new government should stop asking for more help and instead move quickly to enact reform measures linked to previous bailouts, German finance minister Wolfgang Schaeuble said yesterday. Schaeuble told Bild am Sonntag in unusually blunt language that Greece has forfeited much of Europe’s trust during the sovereign debt crisis, as reflected in an opinion [...]
Markets won’t recover until EU politicians make waves June 24, 2012 BUY the dip, sell the government policy induced rip. That was the advice from Larry McDonald, as we both waited for the Greek elections and the meetings leading up to this week’s EU summit. McDonald, author of the best-selling Colossal Failure of Common Sense – a book about the collapse of Lehman Brothers – rated [...]
Banking group calls for closer financial ties in the Eurozone June 24, 2012 CREATING a banking union for the Eurozone could break the fever gripping the shared currency and buy time for governments to put the euro on a viable long-term footing, the Bank for International Settlements said in its annual report yesterday. “If adopted, these measures will break the adverse feedback between the banks and the sovereign [...]
Blair: plan to save euro vital June 24, 2012 TONY Blair said yesterday Germany needs to push a “grand plan” if it wants to save the euro – adding that the UK should leave the door open to joining the single currency eventually. The former Prime Minister told the BBC that Berlin should be prepared “to commit its economy fully to the single currency” [...]
Germans vote for fiscal pact June 24, 2012 GERMANY’S upper house of parliament won multi-billion euro financial concessions from Chancellor Angela Merkel’s government yesterday, clearing the way for parliamentary approval of the permanent bailout scheme for the Eurozone and the fiscal pact. Bavaria state premier Horst Seehofer and other state leaders told reporters outside the chancellery they had reached a deal. Earlier, Seehofer [...]
AB InBev close to deal to buy Corona brewer June 24, 2012 ANHEUSER-BUSCH InBev is nearing a deal to buy the 50 per cent of Corona Extra beer maker Grupo Modelo that it does not own, in a move that could cost the Belgian brewer more than $10bn (£6.41bn), according to reports last night. Citing people familiar with the matter, the Wall St Journal said a deal [...]
Fairy Fox float to hit London this summer June 24, 2012 FAIRY Fox, the Chinese high-street clothing brand, has turned its eyes to the west and plans to list on London’s Alternative Investment Market (AIM) as soon as late July. “AIM is particularly suitable for where Fairy Fox is in its life cycle at the moment and its current projection of growth,” a spokesperson for the [...]
