Toyota executive claims he warned of accelerator defect April 8, 2010 A senior Toyota executive in the US warned in a January email that the automaker needed to “come clean” on a safety defect that caused accelerator pedals to become stuck open. The 16 January email from Irv Miller, then Toyota’s top US spokesman, was sent five days before the automaker launched a recall for about [...]
CITY MOVES | WHO’S SWITCHING JOBS April 8, 2010 Merrill Lynch Wealth Management Nick Booth has joined the wealth management firm as a business development director within the Merrill Lynch Portfolio Managers division. Booth, who will be based in Jersey, will focus on ultra high net worth clients and trust companies in the Channel Islands, working closely with the wealth structuring and advisory teams. [...]
BAILOUT CHIEFS FACE HOLLYWOOD PARADE April 8, 2010 HERE’S betting that the key players in the downfall and rescue of the US banking system never believed they’d have it so good. After countless sleepless nights and stress-soaked days, it’s probably fair to say that policymakers and bank bosses weren’t looking their best when they emerged, battered and bruised, on the other side of [...]
BEST OF THE BROKERS April 8, 2010 SALAMANDER ENERGY Oriel Securities has maintained a “buy” rating on Salamander Energy after calling it one of the most active drillers in its peer group this year. Despite the announcement that Salamander was to close its Phu Kheng-1 exploration well in Thailand, Oriel says the move is broadly immaterial as it will be followed by [...]
BG Group confirms light oil field potential off Brazil April 8, 2010 BG Group, the gas exploration firm, completed drilling at its Tupi field offshore from Brazil and estimated that recoverable reserves top 5bn barrels of light crude oil and natural gas. BG Group and its partners, Brazil’s Petrobas and Portugal’s GALP, said yesterday the appraisal well, designed to test the outer limits of the expected reservoir [...]
City accountants paid more than peers April 8, 2010 CITY based accountants enjoy higher salaries than their counterparts elsewhere in the country, according to new research. Accountants based in London received a basic salary of £87,100 last year, marking an £11,000 leg up on accountants based outside of the capital, who received a £74,200 salary. Research conducted by the Institute of Chartered Accountants in [...]
CITY EYE April 8, 2010 Sunlight glints off the glass facades lining the water at Canary Wharf yesterday, as financial workers strolled along in the balmy air with a taste of spring in their step
FTSE 100 declines on weaker metal prices and concerns over Greek debt April 8, 2010 Britain’s top share index posted its steepest one-day decline in six weeks yesterday, pressured by miners hit by weaker metals prices, and banks on revived concern over Greece’s debt. The FTSE 100 closed 49.36 points, or 0.9 per cent, lower at 5,712.70, its lowest close since March 31, after it shed 0.3 per cent on [...]
Wall Street rises on strong March retail sales data April 8, 2010 US stocks gained yesterday after strong March retail sales increased optimism that the economic recovery is on track. Investors snapped up retailers’ shares after top US chains reported a record year-over-year increase in same-store sales for March. The sales reflected a boost in consumer demand that some investors doubted would materialize so soon. Online merchant [...]
Continuing Greek crisis means euro is still facing a long fight for its life April 8, 2010 THE blowing out of the Greek bond yields this week brings the Greek government’s debt crisis closer to boiling over. Having met its funding requirement for April, the Greek government may have a few weeks to decide on its next step. That said, with every incremental increase in Greek bond yields a decision either to [...]
