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 [...]
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. [...]
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 [...]
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 [...]
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 [...]
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, [...]
Nomura eyes top broker spot July 6, 2009 Japan’s Nomura is planning a swift return to the top spot among LSE brokerages for the European equities unit it bought from Lehman Brothers, the former leader on the exchange. The unit is currently sitting in third place behind Credit Suisse and top-ranked Merrill Lynch, acting on 6.3 per cent of all orders sent to [...]
Big guns take significant step July 6, 2009 YOU can usually tell when a Major is round the corner when the big guns come to the fore. Is it a coincidence, for example, that Tiger Woods and two of Europe’s best in Lee Westwood and Ian Poulter begin to show just days before the start of the Open Championship? Westwood may have been [...]
Taxpayer bill for Rock to rise July 6, 2009 The Treasury’s bill for Northern Rock’s losses looks set to increase, after one of the mortgage lender’s subsidiaries breached a contract, putting other creditors ahead of the taxpayer for repayment. Granite, a unit which securitised Northern Rock mortgages, will be forced to speed up the return of £26bn of debts to noteholders. Rock will be [...]
SUMMER SALES FOOTBALL UPDATE July 6, 2009 Ronaldo draws record crowdA WORLD record crowd packed Real Madrid’s Santiago Bernabeu stadium for the unveiling of winger Cristiano Ronaldo last night. The Portugal star, who joined in an £80m deal from Manchester United earlier this month, was greeted by 80,000 fans – more than attended Diego Maradona’s arrival at Napoli. Ronaldo said: “I have [...]
