Safety still rules at unflashy Volvo July 24, 2012 The law of Jante is a Swedish idea that discourages individuality and showing off. Literally it means: “Don’t think you’re anyone special or that you’re better than us”. It’s a fascinating idea because it’s contrary to the concept of a premium car, which by its very nature means “I deserve the best”. This puts Volvo [...]
CAR TALK July 24, 2012 Vauxhall’s new urban-chic small car Vauxhall has released images of its new urban-chic small car which will be launched at this year’s Paris motor show in September. Called Adam, the three-door, four-seater has a distinctive two-tone “floating” roof and will be offered with a choice of three petrol engines with optional start/stop technology and a [...]
Poor US factory data hits stocks July 24, 2012 DISAPPOINTING economic data weighed on US stocks yesterday, as worrying surveys continue to dent confidence in the recovery of the world’s biggest economy. An estimate of American factory activity for July revealed the slowest growth in 19 months, while a regional manufacturing survey showed its worst top line since April 2009. The Richmond Federal Reserve’s [...]
British Airways shows firms can recover ground July 24, 2012 IN January, I wrote about how British Airways had recovered from the difficulties it faced in 2010 when strikes, snow and the Icelandic ash cloud all caused delays and cancellations. In 2011, crisis was avoided and the company overtook many of its rivals in terms of brand perception to sit in second place behind Virgin [...]
Chinese survey picks up in July July 24, 2012 BUSINESS conditions in Chinese factories worsened this month, according to data released yesterday by Markit and HSBC. Yet the fall was only marginal, as the rate of decline improved significantly. The flash purchasing managers’ index (PMI) for manufacturing rose to 49.5 in July, where 50 indicates no change – the highest result for five months. [...]
US corporate results round-up July 24, 2012 AT&T beats expectations Telecoms firm AT&T posted higher than expected second quarter earnings yesterday. Gross profit was at $3.9bn, up from $3.59bn a year before. Customers waiting for the new iPhone postponed upgrades in the last quarter, falling to six per cent from seven per cent. Europe drags on Whirlpool Household appliance maker Whirlpool was hit [...]
CITY MOVES | WHO’S SWITCHING JOBS July 24, 2012 Intelligent Environments The digital banking software provider has appointed David Webber as its managing director. He has over 20 years’ experience in financial services software and joins from Patsystems Group, where was chief executive. Houlihan Lokey Magnus Scaddan has been appointed managing director, and head of consumer and retail for Europe, Middle East and Africa, [...]
BEST of the BROKERS July 24, 2012 AFRICAN BARRICK GOLD Numis has upgraded the miner from “hold” to “add” with a target price of 430p, due to price depreciation. Full-year forecasts are reduced after a miss on Q2 costs. AMLIN Canaccord Genuity has upgraded the insurer from “hold” to a speculative “buy” with a 400p price target ahead of first half results [...]
FTSE tumbles below 5,500 mark as Spain edges closer to a full bailout July 24, 2012 BRITAIN’S top share index closed back below 5,500 for the first time this month yesterday, with financials among the worst off on Eurozone debt exposure fears as Spain looked to be nearing a full sovereign bailout. Spain paid the second highest yield on short-term debt since the birth of the euro at an auction yesterday, [...]
Worrying stats help pull Wall Street lower July 24, 2012 WALL Street stocks fell yesterday, hit by signs the Eurozone crisis is worsening and evidence that Europe’s slowdown is hurting US companies, including bellwether UPS. The decline was the third straight for the S&P 500 index, which tested its 50-day moving average, a technical support level that could trigger more selling if convincingly broken. United [...]
