Another electric car maker finds crucial cost savings needed to drive this market forward August 6, 2013 General Motors has cut the price of its 2014 model of the Chevrolet Volt by $5,000 (£3,252) to boost demand for the electric car. Prices will start at $34,995, plus an $810 destination fee, although prices could fall as low as $27,495 if federal tax credits are taken into account (release). According to the United [...]
Car sales forecasts up as volumes rise for 17th consecutive month August 6, 2013 Car sales were up 12.7 per cent to 162,228 units in July, according to the Society of Motor Manufacturers and Traders (SMMT). The SMMT has hiked it forecast for 2013 car registrations to 2.216m units, up 8.4 per cent from last year. July's best sellers were the Ford Fiesta (9,089 units), the Ford Focus (7,229) [...]
U.S. results July 24, 2013 Ford boosts outlook Ford Motor boosted its full-year outlook and posted a second-quarter profit that trounced expectations on the strength of operations outside North America. Ford said its pre-tax operating profit this year would be “about equal or higher” than last year’s $8bn (£5.2bn), rather than “about equal”. For the second quarter, it reported a [...]
Main street versus Wall Street: A mixed bag of corporate earnings July 24, 2013 Last week, Federal Reserve chairman Ben Bernanke said that main street is doing better than Wall Street. Judging by today’s second quarter corporate results coming out of the US this afternoon, he could have a point. PepsiCo reported a 35 per cent boost in net income to $2.01bn, or $1.28 per share, up from 94 [...]
New York Report: Apple is set to report in busy earnings week July 21, 2013 WALL Street is experiencing its best month since January and looks poised to extend the rally with a deluge of earnings this week, though significant gains may be harder to come by with major indexes at record highs. Eight Dow components and Apple are among the companies that will report in one of the busiest [...]
What the other papers say this morning – 17 July 2013 July 16, 2013 FINANCIAL TIMES Dell ultimatum as buyout vote looms Michael Dell faces a last-minute ultimatum from some of his company’s biggest shareholders to raise his $24.4bn buyout offer or risk losing his attempt to regain control of PC maker Dell, say people close to the affair. Several large outside shareholders have told Michael Dell and private [...]
MWC special February 27, 2013 For the last four days, tech giants have been unveiling their latest creations. We pick out the very best 1 Firefox OS Mozilla, of Firefox browser fame, launched a smartphone platform. The UK will see its first Firefox handsets from 2014. Price: tbc, mozilla.org 2 Sony Xperia Tablet Z Sony claims its latest tablet is [...]
Profit leaps at GKN February 26, 2013 PROFITS jumped 19 per cent over the full year for car and aeroplane parts maker GKN, as it was boosted by record profit from all four of its divisions. GKN, which includes driveline, powder metallurgy, aerospace and land systems units, this morning posted a pre-tax profit over the year of £497m, up from £417m [...]
Spotify to offer car streaming February 25, 2013 SPOTIFY has inked a deal with Ford that will see the Swedish company’s music streaming service integrated into Ford’s vehicles. The deal is the first of its kind and marks a new area of expansion for Spotify, which has seen rapid growth in users listening on PCs and smartphones in the last few years. Ford’s [...]
The top shows from fashion week February 21, 2013 While New York was a muted affair, British brands embraced colour and everyday decadence in a big way L ONDON FASHION Week is a third of a century old and this season: it showed. There was a maturity and a sense of optimism, both in the way the clothes were presented and in the collections [...]