Lots of bark and plenty of bite November 9, 2010 YOU may not have heard of Amédée Gordini but his name is synonymous with sporty Renault cars from the 1960s onwards – he had the magical ability of being able to squeeze race car-like performance out of regular petrol engines. A Le Mans-winning racer, Gordini’s master tuning helped Renault develop classic hot hatches, including the [...]
CAR TALK November 9, 2010 BMW VISION EFFICIENTDYNAMICS FOUR-SEATER BMW has announced it is to put its stunning Vision EfficientDynamics four-seater sports car concept into production. Powered by a diesel/electric hybrid system, the 328bhp coupé will be capable of 0-62mph in 4.8 seconds and of reaching 155mph when it goes into production in 2013. Average fuel consumption should be just [...]
Gaffe sees Babcock boss quit November 8, 2010 THE deputy chairman of defence contractor Babcock International was forced to resign in embarrassing circumstances yesterday after he called the Royal Navy’s procurement of two aircraft carriers the company is building a “disaster”. Former trade minister Lord Hesketh, who has been deputy chairman of Babcock since 1996, was reported as saying the Navy’s two new [...]
BP didn’t cut corners on safety November 8, 2010 THE US commission investigating the largest oil spill in American history said yesterday its preliminary investigation had found no evidence to support the accusation that it happened because BP and its partners cut costs to save money. The White House commission instead blamed the oil spill on a series of misjudgments by employees working on-site. [...]
Fears see Irish bond sell-off November 8, 2010 IRELAND came under renewed pressure yesterday as investors remained wary of buying Irish assets after Germany stood firm on its call for bondholders to bear a share of the cost should Dublin need a bailout. The premium investors demanded to hold Irish debt over benchmark German bunds hit new highs extending a month-long climb that [...]
Stupid policies have destroyed Eire November 8, 2010 IT is starting to look truly grim for Ireland, which is moving ever closer to the abyss. An article yesterday by Morgan Kelly, a professor of economics at University College, Dublin, added fuel to the fire. By next year Ireland will have run out of cash, Kelly claimed, and the terms of a formal bailout [...]
Oracle doubles SAP loss November 8, 2010 ORACLE’s chief executive Larry Ellison claimed in court yesterday that SAP’s theft of its software cost his company $4bn (£2.4bn), doubling his previous estimate. But Ellison failed to bring written evidence to support his testimony. SAP lawyers immediately challenged Ellison to back up the new figure, but Ellison said he could not cite documentation proving [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 8, 2010 FINANCIAL TIMES MERKEL WARNS ON PROTECTIONISM The greatest danger facing the global economy is a return to trade protectionism, Angela Merkel, German chancellor, has warned ahead of this week’s meeting of global leaders in Seoul. In an interview with the FT Merkel suggested that China must be persuaded with “facts and benchmarks” to set a [...]
Ex-Lloyds boss is UK ambassador November 8, 2010 Former Lloyds chairman Sir Victor Blank – who oversaw the bank’s troubled merger with HBOS – is to be made a UK business ambassador. Sir Victor is among 32 people due to be appointed, including Jimmy Choo co-founder Tamara Mellon and former Hong Kong governor Chris Patten. Business ambassadors are unpaid – and use their [...]
Morgan Stanley sues Peak Ridge November 8, 2010 Morgan Stanley yesterday sued Peak Ridge Capital Group’s commodities hedge fund, alleging that the fund failed to cover more than $40m in losses stemming from bad bets on natural gas. Morgan Stanley contends it suffered the losses in connection with the Peak Ridge Commodities Volatility Master Fund, after Peak Ridge failed to maintain proper margin [...]
