The top three US car manufacturers saw vehicle sales drop again in June, with General Motors reporting a 33.6% drop and Chrysler’s sales falling 42% from the previous year, but there was some stabilisation in the car market as Ford posted its smallest drop in a year at 10.7%.
Ford is the only car manufacturer not to have filed for bankruptcy during the economic crisis, with Chrysler filing for bankruptcy protection in April and General Motors joining them in June. Chrysler have subsequently emerged from its bankruptcy protection after Italian car manufacturer Fiat bought its top assets, but GM has been told that its financial support will be pulled if it does not get permission to sell its strongest assets by July the 10th.
General Motors is looking for court approval to sell its assets to a new company, which the US government will be the majority stake holder, but the deal has been opposed by GM’s bondholders, who do not want to sell.
US vehicle sales continue to drop despite large discounts being offered to car buyers. Analysts estimate that sales will increase over the next couple of months as the US introduces their ‘cash for clunkers’ scheme, which it hopes to encourage customers to trade in their old cars for newer models. Similar schemes have already been introduced in Germany and the UK.
Barclays Bank has released its pre-tax profit for the first quarter of 2009, showing a 15% increase compared to the same quarter of last year, despite the ongoing economic climate. Pre-tax profits were up to £1.37 billion, with total income rising to a record £8.15 billion due to a healthy performance from its investment banking [...]
The top three US car manufacturers saw vehicle sales drop again in June, with General Motors reporting a 33.6% drop and Chrysler’s sales falling 42% from the previous year, but there was some stabilisation in the car market as Ford posted its smallest drop in a year at 10.7%.
Ford is the only car manufacturer not [...]
The top three US car manufacturers saw vehicle sales drop again in June, with General Motors reporting a 33.6% drop and Chrysler’s sales falling 42% from the previous year, but there was some stabilisation in the car market as Ford posted its smallest drop in a year at 10.7%.
Ford is the only car manufacturer not [...]
Australian immigration has announced plans to increase the fees charged to foreign students wishing to study in Australia with a student visa.
The increases, which will result in student visa fees increasing by around 20%, will come into play next year, after the changes were announced in the budget.
The current student visa application fee is AU$450. [...]
General Motors and Cadillac have shown the first pictures of Barack Obama’s presidential limousine. Nicknamed ‘The Beast’, the new armoured Cadillac makes its debut on the 20th of January and will take Barack Obama to the inaugural parade.
The Secret Service has said that the 2009 Cadillac Limousine is a valuable asset for the highest level [...]
Today, the BBC was fined a total of £95,000 by Ofcom for broadcasting radio quizzes that listeners could not win. The fine covers 13 quizzes between 2005 and 2006, including 8 from Dermot O’Leary’s Radio 2 show and 5 competitions broadcast on Tony Blackburn’s BBC radio London shows.
The media watchdog Ofcom found that all of [...]
The top three US car manufacturers saw vehicle sales drop again in June, with General Motors reporting a 33.6% drop and Chrysler’s sales falling 42% from the previous year, but there was some stabilisation in the car market as Ford posted its smallest drop in a year at 10.7%.
Ford is the only car manufacturer not [...]
Australian immigration has announced plans to increase the fees charged to foreign students wishing to study in Australia with a student visa.
The increases, which will result in student visa fees increasing by around 20%, will come into play next year, after the changes were announced in the budget.
The current student visa application fee is AU$450. [...]
US car manufacturer General Motors is widely expected to file for bankruptcy later today, which is set to become the largest failure of a US industrial company. General Motors has reportedly racked up losses exceeding $81 billion over the last 4 years, plunging the company to the verge of collapse.
President Obama is expected to give [...]
One of the rarest forms of diamond, the blue diamond fetched a record breaking 10.5 million Swiss Francs (£6.2m) at an auction house in Geneva. The diamond, which weighs 7.03 carats, is so rare that there is only a handful in existence.
The diamond was mined in the South African Cullinan mine last year, and once [...]
Barclays Bank has released its pre-tax profit for the first quarter of 2009, showing a 15% increase compared to the same quarter of last year, despite the ongoing economic climate. Pre-tax profits were up to £1.37 billion, with total income rising to a record £8.15 billion due to a healthy performance from its investment banking [...]
Informational leaflets about swine flu have started to be sent out to all UK households today as a countrywide campaign begins to help prevent the spread of the virus after the number of confirmed cases reached 27. The leaflets will provide people with information about the virus and recommend good hygiene practises to prevent the [...]
With the current economic downturn, coupled with consumers cutting costs, Marks and Spencer has announced today that its sales were down for the fourth consecutive quarter and that the outlook remains unsteady.
Marks and Spencer’s announced the latest figures, which do not take into account store openings and closures, shows a 4.2% fall in like-for-like sales [...]
Official figures released by the Office of National Statistics, shows that UK unemployment rose to above 2 million for the first time in 12 years. The rate of unemployment was up 165,000 from November to January taking the total figure to 2.03 million.
The number of individuals claiming jobseekers allowance also shot up by a record [...]
Online retail research group IMRG, has released figures that show that online shopping has seen a 13% annual sales rise in February, compared to the same time last year; bucking the downward trend on the High Street. But despite the annual sales increase, online shopping in February fell by 11% from January, although this is [...]
The Trades Union Congress (TUC), which represents 58 trade unions in the UK, has warned that for every job vacancy there is an average of 10 jobseekers wanting the position. The TUC’s research indicates that the problem is hitting the South East of England hardest, with up to 60 people chasing each job.
The most recent [...]