WHAT THE OTHER PAPERS SAY THIS MORNING March 30, 2010 FINANCIAL TIMES M&A SURGE IN ASIA WHILE THE US AND EUROPE SUFFER Mergers and acquisitions boomed in Asia in the first quarter in sharp contrast to a slump in deal volume in Europea and the US, underlining a global shift in activity in the wake of the credit crisis. The value of global M&A overall [...]
Ford agrees sale of Volvo March 28, 2010 THE Chinese carmaker Geely has agreed to buy Volvo from US giant Ford for $1.8bn (£1.2bn) in the country’s biggest overseas car purchase to date. The takeover highlights China’s arrival as a major force in the global automobile industry and ends nearly two years of talks over Volvo. Geely said it had secured all the [...]
Under-fire Johnson gets RFU backing March 24, 2010 UNDER-FIRE England boss Martin Johnson was last night handed a stay of execution by Rugby Football Union bosses despite the disappointing Six Nations campaign. Defeats to Ireland and France, and a draw with Scotland, left Johnson’s men languishing in third in the table with many blaming the lacklustre displays on a lack of direction under [...]
Ford and Geely close to Volvo deal March 22, 2010 US carmaker Ford will sign a deal to sell its Volvo cars business to China’s carmaker Zhejiang Geely within days, sources close to the deal said last night. The Chinese carmaker will pay $1.8bn (£1.2bn) for Volvo, while a further $750m of working capital is being raised to develop the Swedish brand, famous for its [...]
Government backs electric car revolution March 18, 2010 The government yesterday announced it will back Ford and Nissan in the development of electric cars and environmentally friendly engines, allotting nearly £2bn to the cause in an effort to further green motoring development in the UK. Ford is preparing to invest £1.5bn into its four UK sites over the course of five years after [...]
CITY MOVES | WHO’S SWITCHING JOBS March 18, 2010 Avoca Capital Holdings The European credit investment manager has hired Clayton Perry, formerly principal and managing director at Broadchalk Advisors, as its new chief operating officer. Prior to establishing Broadchalk, Perry was head of global collateralised loan obligation (CLO) business at Credit Suisse, responsible for CLO transactions in the US and Europe. The appointment comes [...]
REVOLUTIONISING the runabout March 16, 2010 OFTEN it’s the least exciting cars that are the most surprising. Testing an eco model from the most traditionally conservative car segment – the Supermini or B segment – promises to be, if not dull, then certainly a pedestrian experience. Yet, in a difficult car market, the Supermini segment is where all of the action [...]
It’s a family affair when you’re looking for a scent March 15, 2010 THE modern male may be rather more comfortable with primping, preening and beautifying – so long as we can call it grooming – but deciding on a scent is still a problematic exercise. Even the most confident bloke can feel ill at ease in the heightened feminine atmosphere of a perfume department, and given the [...]
CHINA CLOSE TO VOLVO DEAL March 10, 2010 GEELY, the Chinese carmaker, has secured funds for its planned purchase of Volvo Cars from US rival Ford from Chinese financial institutes and regional authorities, according to reports yesterday. Ford said late last year it had agreed terms to sell its Swedish unit Volvo to Geely for around $2bn (£1.3bn). Volvo employs 22,000 workers worldwide, [...]
Lookers doubles its profit as car dealers see healthy trade pick-up March 9, 2010 CAR dealership Lookers doubled its annual profit in 2009, reporting pre-tax profits of a record £28.3m. The company, which sells cars from manufacturers like Peugeot, Ford and Volvo, saw its pre-tax profit , goodwill and one-off items jump 102 per cent from 2008. It also benefited from the government scrappage scheme, due to end on [...]