MG Rover quartet slam call for probe July 6, 2009 A QUARTET of executives accused of asset-stripping in relation to their purchase of collapsed carmaker MG Rover yesterday described moves towards a probe by the Serious Fraud Office (SFO) as “mystifying”. Business secretary Lord Mandelson has asked the SFO to decide whether a criminal investigation should be launched into the 2005 collapse of MG Rover, [...]
New GM may be launched by end of July July 6, 2009 A SENIOR figure in President Obama’s automotive task force said last night that GM could be relaunched as a new company by the end of the month. Steve Rattner said a judge’s ruling that GM can sell its assets to a government-backed company would clear the way for the firm to emerge from bankruptcy and [...]
Stage winner Cavendish sprints into history books July 6, 2009 BRITAIN’S Mark Cavendish toasted his team’s courage after retaining the green jersey with his second successive Tour de France stage victory. The Team Columbia rider’s success made him the first Briton to hold the jersey – awarded to the leading sprinter – for consecutive days. Cavendish finished strongest in a 27-man breakaway on the Tour’s [...]
Federer unable to rest on his laurels after Wimbledon win July 6, 2009 WIMBLEDON champion Roger Federer has admitted his 15th grand slam title left him so excited he could not sleep, but insisted it failed to take any of the sheen off his record-breaking feat. Federer overcame American Andy Roddick in Sunday’s marathon five-set men’s singles final, eclipsing Pete Sampras as the most successful player of all [...]
Ancelotti: Terry not for sale July 6, 2009 CARLO ANCELOTTI issued ambitious Manchester City with a chilling warning on his first day in charge at Chelsea yesterday, insisting: “John Terry is not for sale.” Terry has been the subject of sustained interest from mega-rich City, who are preparing a third audacious swoop for the England captain this week in the region of £35m. [...]
Fiat to enter Chinese car market July 6, 2009 Italian carmaker Fiat is to enter the rapidly growing Chinese automotive industry which will see it make cars and engines there from 2011, in a joint venture with Guangzhou Automobile Group (GAC). The deal will see the two firms invest more than €400m (£344m) in the project, including the construction of a 700,000 square metre [...]
Qataris tighten grip on Barclays July 6, 2009 Qatari investors have upped their stakes in Barclays with the conversion of mandatory convertible notes into common stock, booking paper profits of around £700m. The Qatari Investment Authority now has 7.38 per cent of the bank, while Challenger, which acts for Sheikh Hamad Bin Jassim Bin Jabr Al-Thani of Qatar Holding, has 2.84 per cent. [...]
AUSSIES SUFFER LEE BLOW July 6, 2009 AUSTRALIA have been handed a massive blow ahead of tomorrow’s first Test in Cardiff after paceman Brett Lee was ruled out with a rib injury. The 32-year-old complained of soreness following last week’s draw with England Lions and underwent a scan yesterday, which revealed a torn muscle. Furthermore, the Aussie strike bowler only has a [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 6, 2009 FINANCIAL TIMES SUN VALLEY SET TO CONSIDER PAID CONTENTA debate over paid content that has riven the newspaper business and spread across the rest of the media sector is expected to frame discussions at the annual confab of media and technology power brokers and entrepreneurs in Sun Valley this week. The US recession has forced [...]
Strauss calls for calm in Ashes furore July 6, 2009 CAPTAIN Andrew Strauss has called on his England players to show composure and not get caught up in the hype surrounding the Ashes series.The Middlesex opener leads his side out for the eagerly-awaited first Test against Australia in Cardiff tomorrow with the intention of recreating the intensity of the victorious 2005 series. But with an [...]
