Opel commits to new investment June 21, 2012 OPEL, the European arm of General Motors, will keep up its product investments and will return to its mass-market roots, its chief executive said yesterday, a week before he is scheduled to present a restructuring plan. “We will make a significant investment in Opel’s product portfolio,” Karl-Friedrich Stracke said at an automotive industry event yesterday, [...]
Air France will cut 5,000 jobs June 21, 2012 AIR France yesterday unveiled plans to cut more than 5,000 jobs by the end of next year as part of an effort to slash costs and debt to return to growth in the face of tough market conditions in Europe and political pressure at home. Air France pledged to try to avoid forced layoffs by [...]
Go-Ahead sees a difficult year ahead for rail June 21, 2012 SHARES in transport group Go-Ahead slipped 1.9 per cent yesterday as a disappointing outlook for its rail business overshadowed a good overall performance last year. Go-Ahead said its bus network was growing well, and the firm expects a four per cent like-for-like revenue rise in the year to the end of June, thanks in part [...]
Daimler in deal with Deripaska to produce more cars in Russia June 21, 2012 DAIMLER has announced a major new deal that will see its vehicles manufactured in Russia for the first time. The contract with the German car firm will see hundreds of vehicles made at the main plant of Russia’s GAZ company. Daimler is to invest more than €100m and Gaz €90m in the project. Start of [...]
Private equity owners sell on chemicals firm Norit for $1.1bn June 21, 2012 CHEMICAL maker Cabot has revealed plans to buy Netherlands-based activated carbon manufacturer Norit from its private equity owners for $1.1bn (£703m) to focus on higher-margin specialty chemicals. Cabot will buy Norit from affiliates of British private equity fund Doughty Hanson and Dutch investment firm Euroland Investments. Norit was acquired by a group of investors led [...]
Anna Schwartz, 1915-2012 June 21, 2012 US economist Anna Schwartz has died at 96. She was co-author with Milton Friedman of A Monetary History of the United States, which blames the US central bank for the Great Depression. Ben Bernanke, the Fed’s current president said in 2002: “You’re right, we did it. We’re very sorry. But thanks to you, we won’t [...]
Doctors’ strike figures disputed June 21, 2012 The Department of Health claimed just eight per cent of doctors working in the NHS in England, or 11500, showed their support for a strike yesterday, but strategic health authorities claimed up to a fifth of GP practices had been hit by the industrial action. Doctors took action for the first time in almost four [...]
Amec signs deal with Aibel June 21, 2012 Engineering and project management firm Amec said yesterday it had signed a collaboration agreement with Norway’s Aibel, one of Norway’s largest oil services firms. The agreement will allow AMEC and Aibel to jointly deliver projects for the oil and gas industry in the Norwegian Continental Shelf.
Norcros increases dividend June 21, 2012 UK and South Africa-focused consumer products group Norcros upped its dividend yesterday after its group revenue increased by 5.6 per cent in the year to 31 March. Profits of £12.1m were 3.5 per cent higher than in 2010. The company will issue a final dividend of 28p per share in addition to the interim dividend [...]
Wood Group wins Shell contract June 21, 2012 Energy services firm Wood Group has been awarded a multi-year engineering, procurement and construction management (EPCM) framework agreement by Shell Oil Products US. The agreement has been awarded to Wood Group’s Mustang division.
