Prius hybrid callback continues to hit brand February 9, 2010 YOUGOV’s BrandIndex shows a steep fall in Toyota’s reputation with consumers following a series of recent recalls of their vehicles. The company has been plagued by a number of problems concerning the reliability of their brakes, accelerator pedals and floor mats. PRIUS HYBRID RECALL EXTENDS Yesterday’s announcement of further recalls of the Prius Hybrid is [...]
Nissan confident as it returns to profit February 9, 2010 NISSAN, Japan’s third-largest automaker, returned to quarterly profit yesterday and lifted its outlook for the second time, as brisk global sales signal the worst may be over for the auto industry. Nissan joins Toyota and Honda in raising annual forecasts, underscoring the impact of government stimulus and the improvement in the global economy following the [...]
BEST OF THE BROKERS February 9, 2010 ICAP Bank of America Merrill Lynch adds ICAP to its “Europe 1” buy list saying its current share price ignores the company’s strong portfolio of assets. Despite its revised earnings guidance for the third quarter, it believes its recent share price fall has been overdone. It notes half ICAP’s profits will come from electronic businesses [...]
CITY MOVES | WHO’S SWITCHING JOBS February 9, 2010 ING Real Estate The investment management company has appointed Mike Evans, the chairman of stockbroker Hargreaves Lansdown, as a new non-executive director. Evans has held an advisory role with ING for over three years. He also recently completed a two-year stint as director of life assurance at law firm Pinsent Masons and originally spent almost [...]
Spain: There’s no costa del crisis February 9, 2010 SPAIN’S finance minister flew to London for emergency talks with bondholders yesterday as debt markets grew fearful over the country’s ability to finance itself. Elena Salgado met with fixed income houses, thought to include M&G and Standard Life, to reiterate the Spanish government’s promise to severely rein in its budget deficit to three per cent [...]
Sky sells contested ITV stake February 9, 2010 BSKYB last night sold the majority of its controversial stake in ITV after a long-running legal battle. The pay-TV group had been ordered to reduce its shareholding in ITV from 17.9 per cent to 7.5 per cent after rivals complained it was harming competition. Morgan Stanley placed the 10.4 per cent stake, raising around £196m. [...]
SocGen picks footie trades February 8, 2010 HERE’S something to take England manager Fabio Capello’s mind off John Terry’s alleged misdemeanours. Countries hosting the World Cup enjoy a boost to economic growth and stockmarket performance not experienced by winners, according to Société Générale. Ahead of this summer’s tournament in South Africa, the French bank has put together a note advising investors on [...]
Don’t assume Pigs will be bailed out February 8, 2010 HISTORY is repeating itself – and much more quickly than we seem to realise. The consensus view appears to be that Portugal, Italy, Greece and Spain – the PIGS – will by hook or by crook be given a bail-out if they need one, just as Dubai, RBS and AIG eventually were – and that [...]
Toyota set for Prius recall February 8, 2010 TOYOTA was last night preparing to recall all Prius hybrid cars sold since the start of the year, as the safety crisis engulfing the Japanese company looked set to cost it $4bn (£2.6bn). More than 180,000 Toyota vehicles have been recalled in the UK because of problems with sticking accelerator pedals. A recall of the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 8, 2010 FINANCE TIMES DE SHAW MOBILISES TEAM TO BUY DISTRESSED ASSETS OF FUND RIVALS DE Shaw, the third largest hedge fund, has established an in-house team to look at buying portfolios of distressed assets and is targeting the holdings of rival hedge funds. The DE Shaw Portfolio Acquisitions Unit, launched last year, aims to capitalise on [...]
