Boris pledges to create at least 1,000 apprenticeships a week April 25, 2012 MAYOR Boris Johnson yesterday promised to generate 1,000 apprenticeships every week over the course of the next mayoral term if he is elected on 3 May – double his existing commitment. “We’re going to create 200,000 jobs and it is absolutely vital that young people in London should have the skills, motivation and attitude to get [...]
Peugeot sees tough times ahead April 25, 2012 ■ PSA Peugeot Citroen, France’s biggest carmaker, forecast a tough second quarter yesterday, saying demand continued to sag in its domestic and core southern European markets, sending first-quarter sales down seven per cent. Revenue fell to €14.3bn (£11.7bn), compared with a forecast for €13.9bn. Sales in its automotive division fell 14 per cent to €9.72bn.
Product bug hits TomTom profit April 25, 2012 ■ Dutch vehicle navigation maker TomTom yesterday swung to a first-quarter loss, citing weaker car sales, the debt crisis in Southern Europe, and a product bug which made it necessary to increase the number of customer service agents. The group said it took a €13m provision in the quarter to fix the issue, reducing its [...]
Diageo completes China deal April 25, 2012 ■ Diageo yesterday completed its tender offer for Chinese liquor maker Sichuan Shuijingfang, which it was compelled to undertake, with negligible uptake and so stays as the largest shareholder in China’s No 4 white spirits group. Diageo bought a four per cent stake in joint venture Sichuan Chengdu Quanxing last July to bring its stake [...]
US corporate results round-up April 25, 2012 Boeing’s profit beats expectations BOEING posted a higher-than-expected quarterly profit yesterday, helped by an increase in commercial airplane deliveries, and the world’s largest aerospace and defence company raised its earnings forecast for the year. Boeing’s first-quarter net profit rose to $923m from $586m a year earlier. Earnings were $1.11 per share, beating the average estimate [...]
Draghi tells Eurozone leaders to focus on pro-growth reform April 25, 2012 THE EUROZONE’S governments need a “growth compact” to boost their economies, European Central Bank (ECB) boss Mario Draghi said yesterday, as the bank revealed its €1 trillion (£818bn) cash injection has not helped lending as much as first thought. There are growing expectations in financial markets that the ECB will have to ride to the [...]
EU demands above inflation budget rise April 25, 2012 THE EUROPEAN Commission (EC) yesterday called for a 6.8 per cent increase in the EU’s budget – a demand the UK vowed to fight. Commissioners have been pushing member states to cut their own budgets, arguing sustained fiscal discipline is necessary to overcome the debt crisis. However, it wants member states to give it €136bn [...]
Dutch triple-A rating is safe April 25, 2012 HOLLAND will not hit its budget deficit target this year, Fitch warned yesterday, but should retain its top credit rating as its national debt is well below that of heavily indebted nations like the UK and Germany. Fitch expects the deficit will come in at 4.5 per cent of GDP this year, and could miss [...]
Greece clamps down on fraud April 25, 2012 ■ Greece has stopped various benefits, including pensions, to 200,000 people who lied to get their monthly cheques or were in fact dead, a labour ministry official said yesterday. The number is roughly two per cent of the Greek population. Debt-laden Athens discovered the fraud after beginning basic data cross checks and means-testing, under pressure [...]
EU approves Hungary plans April 25, 2012 ■ The EU opened the way to talks with Hungary on financial aid yesterday, ending a five-month dispute over the independence of its central bank, but it kept pressure on Prime Minister Viktor Orban by sending a row over the judiciary to Europe’s top court. The European Commission said it was satisfied with Budapest’s assurances [...]
