The weaker yen isn’t a panacea for Japan’s ails January 15, 2013 JAPAN’S new government has wasted little time in trying to free the country from deflation, economic stagnation and a strong currency. It intends to act aggressively. It has “three-arrows” within its arsenal: bold monetary policy, flexible fiscal policy, and a growth agenda. The yen’s recent slide suggests that the market currently has faith that these [...]
Europe will dominate audit in 2013 January 15, 2013 Involvement with the EU on legislation and regulation is crucial THE Mayans’ reputation as expert astrologers and doomsday forecasters recently took a knock when 21 December 2012 came – and safely went. You could argue that we shouldn’t have paid so much attention to this forecast, given that the Mayans spectacularly failed to predict there [...]
Is the M-Class the perfect city car? January 15, 2013 IT’S A given that the latest version of the Mercedes-Benz M-Class will be effortless to drive. Mercedes customers have always demanded comfort and luxury, but the company’s recent models have also been getting sportier in an attempt to attract younger buyers. As a result, the ML350 is sports-car quick. And it doesn’t stop there: Mercedes [...]
Car talk January 15, 2013 Renault’s new Captur could be most exciting in years Renault has revealed one of its most exciting new models in years. The dynamic-looking Captur urban crossover is stylish and a little quirky, which is just what a Renault should be. The compact SUV will rival Nissan’s Juke, Peugeot’s forthcoming 2008 and the Vauxhall Mokka. Could [...]
Renault to cut 7,500 jobs in France by 2016 January 15, 2013 Carmaker Renault aims to cut around 7,500 jobs in France by 2016, as it tries to boost competitiveness amid a slump in its domestic and European markets. The reduction in headcount is equal to 14 per cent of Renault staff in France. Around 5,700 departures are expected to come through natural turnover, according to Renault. [...]
Burberry tops FTSE 100 January 15, 2013 The leading share index was modestly higher in early deals, as Burberry was the star performer following an upbeat trading statement. The British luxury brand soared 5.2 per cent on the FTSE 100 this morning, as investors were cheered by its latest trading statement. Revenue over the third quarter jumped nine per cent, thanks to [...]
Inflation remains unchanged at 2.7 per cent January 15, 2013 Inflation remained unchanged for the third consecutive month in December, as consumer price inflation (CPI) came in at 2.7 per cent. Price hikes in gas and electricity bills were the largest upward pressures on the index over the month, with utility costs rising 3.9 per cent, according to the Office for National Statistics. This was [...]
Amplats in major overhaul of South African operations January 15, 2013 Anglo American Platinum this morning spelled out a radical overhaul of its business, involving the sale of a mine complex and the closure of several shafts. As part of the review commissioned last February, Amplats will trim its Rustenberg operations into three mines, mothballing four high-cost shafts, resulting in a drop of 400,000 ounces of [...]
Rio Tinto hits iron ore production targets January 15, 2013 Global iron ore output hit 253m tonnes over 2012 for miner Rio Tinto, beating guidance as demand from China drove a price recovery. Rio had set a target of 250m tonnes for 2012, after posting output of 245m tonnes over the previous year. Chief executive Tom Albanese said this morning: “Markets remain volatile, but our [...]
Burberry sales jump in third quarter January 15, 2013 Luxury brand Burberry this morning posted a nine per cent jump in underlying revenue over the third quarter, thanks to a strong week of trading before Christmas. The retailer racked up total sales of £613m over the three months to 31 December. Retail revenue from the group, which last year issued a shock profit warning, [...]
