Car sales rise on scrappage August 6, 2009 NEW car sales went up for the first time in 15 months in July, as business secretary Lord Mandelson’s “cash for bangers” scheme trickled down to dealers, helping drive up sales by 2.4 per cent year-on-year. The Society of Motor Manufacturers and Traders (SMMT) said 157,149 new cars were registered in the UK last month, [...]
Ex-Ford boss named as the new chairman of BHP Billiton August 4, 2009 BHP Billiton, the world’s largest miner, yesterday said that ex-Ford chief executive Jac Nasser would be its new chairman. Nasser, who has been a non-executive director at BHP since 2006, will step into incumbent Don Argus’ shoes when he steps down next year after a decade at the helm. He beat off competition from John [...]
US car sales jump in July August 3, 2009 US CAR sales jumped to their highest level of the year in July as Americans took advantage of the government’s cash for clunkers scrappage scheme, according to industry figures released yesterday. Ford, led by chief executive Alan Mulally, posted a two per cent increase in sales, its first rise in nearly two years, while other [...]
Ford in July sales uptick August 2, 2009 BELEAGUERED US carmaker Ford said last night it sold more cars in July than the same month last year, its first year-on-year sales rise since November 2007. The group will today become the first major US automaker to report a sales rise since the financial crisis kicked off, thanks to a surge of orders under [...]
OUT THIS WEEKEND PREVIEWS July 30, 2009 FILMCROSSING OVER Drama about US immigration issues, with Harrison Ford and Ray Liotta. G-FORCE Animated fun for the kids, about a crack team of specially trained guinea pigs. LAND OF THE LOST Will Ferrell’s latest spoof (of the old TV show) misses more than it hits. DVDKNOWING Nicolas Cage finds out what happens when the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 30, 2009 FINANCIAL TIMES VW BRACED FOR “ZERO GROWTH” IN CAR MARKETVolkswagen warned yesterday that it could face flat sales in 2010 as Europe’s largest carmaker reported a sharp profit drop in the second quarter. The third-biggest carmaker behind General Motors and Toyota said it expected “zero growth” in the car market next year. PRIVATE EQUITY SUFFERED [...]
BHP to elect new chairman soon July 30, 2009 The world’s largest miner BHP Billiton is close to announcing a new chairman to replace Don Argus and is understood to have narrowed the field to two candidates. Current non-executive directors Jacques Nasser, the former Ford chief executive and John Schubert, the chairman of Commonwealth Bank of Australia, head the running.
Jaguar hits 673.4m in losses as it inches towards loan deal July 26, 2009 CARMAKER Jaguar Land Rover (JLR) saw its UK operations tumble to a dramatic loss of £673.4m last year, down from a net profit of £641.5m in 2007. Accounts filed at Companies House show that total recognised losses – which includes money lost on pension schemes – hit almost £1.2bn for 2008. The news of how [...]
GM and Berlin still locked in talks over European operations, Ford posts profit July 23, 2009 US carmaker General Motors said yesterday it was still in detailed talks with both Canadian car parts firm Magna and Belgian private equity outfit RHJ International, who are looking to buy its European arm. GM has been considering three final offers for GM Europe – which consists of Opel in Germany and Vauxhall in the [...]
BHP Billiton in talks with its top two candidates for the chairmanship role July 19, 2009 BHP Billiton, the mining giant, is believed to be holding interviews this week with Jacques Nasser, former chief executive of Ford, and John Schubert, a former managing director of Esso Australia, for the post of chairman. The current BHP chairman Don Argus is expected to be stepping down after the £71bn iron ore joint venture [...]