French fancy May 18, 2010 PEUGEOT is targeting Audi TT, VW Scirocco, even Mini Cooper S buyers with its new 2+2 seater sports car. Even if you’re the kind of car buyer that usually allows your head to rule your heart the RCZ may still be the car for you. Not only do you get the fun of a sports [...]
BHP ready to compromise on mining tax May 17, 2010 BHP BILLITON yesterday said it is prepared to cut a deal with the Australian government over its plans to introduce a new mining tax. Jac Nasser, chairman of the Anglo-Australian miner told shareholders in a letter yesterday that the levy should only apply to new projects, not existing investments. The government also signaled it might [...]
FTSE hits two week high on stronger metal prices, but sentiment is fragile May 13, 2010 BRITAIN’S top stock index hit a two-week closing high yesterday as miners gained, tracking stronger metals prices, but persistent concerns about euro zone debt problems prompted investors to stay cautious. The FTSE 100 ended up 50.28 points, or 0.9 per cent, at 5,433.73, the highest close since 30 April. The blue chip index has gained [...]
Xstrata and BHP ditch Aussie expansion plans May 10, 2010 GLOBAL mining giants have scaled back their investment in Australia as the backlash against the government’s “mining tax” intensified. Xstrata suspended copper exploration in the state of Queensland, coal giant Peabody Energy cut its offer price for Macarthur Coal and BHP Billiton warned that approving key expansion projects would be difficult given the new tax. [...]
Banks boost FTSE after Euro bailout May 10, 2010 BRITAIN’S leading share index scored its biggest one-day per cent rise in nearly 18 months yesterday as the $1 trillion (£645bn) Eurozone rescue package doused concerns of EU debt defaults and further economic dislocation. Bank stocks, which plunged last week on their exposure to debts of Greece and other EU states, led the advance as [...]
Live and let drive… Bond-style May 5, 2010 FIRST: a confession. I probably should have told the good people at Lotus that I have a slightly unlucky history with James Bond. The first 007 film I ever saw was Moonraker. Dressed up smartly in my white broderie anglaise blouse, I sat with my family in a rather grand former theatre in Auckland, New [...]
Australian mining tax and Greece’s EU bailout drag FTSE to a two-month low May 4, 2010 BRITAIN’S top share index fell sharply yesterday to a two-month closing low as Eurozone debt contagion fears grew, hurting banks, and with miners hit by an Australian mining tax and concerns over tightening in China. The FTSE 100 closed down 142.18 points, or 2.6 per cent, at 5,411.11, its lowest close since early March. The [...]
Korea Progression May 4, 2010 IF any car proves Korean manufacturer Kia’s star is in the ascendant then it must be its compact car, the Venga. It’s something of an illusion because it’s clear from the moment that you get in it that this is not really a compact car at all, in fact it’s what is known in the [...]
Miners say they will flee Aussie tax May 3, 2010 THE world’s top miners have said they will scale down their operations in Australia if the Government goes ahead with plans to slap a 40 per cent tax on mining profits. According to mining chiefs at BHP Billiton, Rio Tinto and Xstrata, the plans by the Australian government will hamper long-term investment in the country, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 22, 2010 FINANCIAL TIMES GOLDMAN ROLE IN LLOYDS DEAL IN SPOTLIGHT Goldman Sachs was both an underwriter and an investor in Lloyds Banking Group’s vast refinancing deal late last year, the FT has learned, highlighting the potential conflicts of interest at the heart of the investment bank’s business model. According to four people involved in the capital [...]