Price of gold hits $1,000 on uncertainty September 8, 2009 THE PRICE of gold powered through the psychologically-important $1,000 (£606) per ounce barrier yesterday, as the dollar’s weakness, concerns about economic recovery and fear of inflation underpinned sentiment. Spot gold rose to $1,007.45 an ounce in early trading, its highest since March 2008, when bullion touched a record high at $1,030.80. Meanwhile US gold futures [...]
PR PRO FULD CORNERED AT COUNTRY RETREAT September 8, 2009 SOMEONE has finally cornered former Lehman Brothers chief Dick Fuld, the “gorilla” of Wall Street, at his idyllic country pad in Idaho, just a week before the anniversary of the firm’s collapse. “You don’t have a gun; that’s good,” was Fuld’s opening shot to the Reuters reporter, before adding: “I’ve been pummelled, I’ve been dumped [...]
FA and Carlsberg extend deal September 8, 2009 The Football Association and beer brand Carlsberg yesterday announced they have agreed a further four year sponsorship deal. By the end of the new agreement, the sponsorship will have run for 19 years, one of sport’s longest-running commercial relationships. The new deal starts from August 2010.
Skywest suffers slide in traffic September 8, 2009 Australian carrier Skywest said yesterday that passenger numbers and traffic had fallen, but that charter flights and load factor were up in August. Passenger numbers and traffic fell 11.8 per cent and 14.8 per cent year-on-year respectively during the month. But charter services rose 23.45 per cent and load factor improved by to 57.36 per [...]
Emerging car markets near in size to US September 8, 2009 PASSENGER car sales in China during August rose 90 per cent year-on-year, the China Association of Automobile Manufacturers (CAAM) said yesterday, as the emerging market comes ever-closer to topping the US as the world’s biggest car market. Car sales, including sport-utility and multi-purpose vehicles, hit 858,300, compared with 451,300 units sold a year earlier and [...]
BAE fights for army contract September 8, 2009 DEFENCE giant BAE Systems is fighting a decision by the US Army to award a multi-billion dollar vehicle contract to a competitor, saying it did not judge its proposals fairly. The company said that it had filed a protest with the US Government Accountability Office, asking it to review the decision. BAE’s shares fell around [...]
SAIC eyes up a stake in Saab September 8, 2009 China’s largest carmaker SAIC Motor group may take a stake in Saab Automobile by teaming with luxury sportscar maker Koenigsegg, it emerged yesterday. SAIC, which is partnered with a General Motors (GM) in China, is interested in buying into the US carmaker’s Swedish unit, but its ill-fated investment in South Korea’s loss-making Ssangyong Motor weighs [...]
Lufthansa opens up the books on bmi to its rivals September 8, 2009 BRITISH Airways (BA) and Virgin Atlantic have signed confidentiality agreements with Lufthansa over talks with its bmi airline, it is understood. The German carrier has opened its books at Bmi, offering limited due diligence to its rivals ahead of a potential sale of the airline. Bmi’s assets are desirable because they include slots at sought-after [...]
SEE YOU IN McCOURT September 8, 2009 MCDONALD’S yesterday lost an eight year legal battle to prevent a Malaysian restaurant calling itself McCurry. The Kuala Lumpur eatery, which sells biryani rice and fish head curry, won the case on the grounds that there was no evidence to show it was trying to pass itself off as part of the McDonald’s empire. McCurry [...]
Jaegar boss Tillman lands Aquascutum September 8, 2009 LUXURY trench coat brand Aquascutum yesterday returned to British ownership after fashion entrepreneur Harold Tillman and Jaegar chief executive Belinda Earl announced a deal to buy the firm. Tillman, famed for his turnaround of upmarket high street store Jaegar, has said he plans to expand Aquascutum in overseas markets. Tillman said: “There are markets where [...]
