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Archive for December 14th, 2007Daimler in heavy vehicle venture with India’s Hero GroupPosted by UK Economy News
In UK financial news
14Dec 07 German auto giant Daimler and India's Hero Group have agreed to form a joint venture to produce light, medium and heavy duty commercial vehicles for the Indian market, Daimler said Friday.
Read full story China pushes World Bank aid group pledges to record highPosted by UK Economy News
In UK financial news
14Dec 07 The World Bank body that aids the poorest countries said Friday that donors had made record pledges for the next three years at a conference here, including China's first-ever contribution.
Read full story Comments Off Moody’s may cut B&B debt ratingPosted by UK Economy News
In UK financial news
14Dec 07 Moody's Investors Service on Friday said it might cut Bradford & Bingley's ratings on concerns over lending concentrations and access to funding, sending the cost of insuring the mortgage lender's debt sharply higher.
Read full story Comments Off Citigroup’s financial migraine worsens with asset shiftPosted by UK Economy News
In UK financial news
14Dec 07 Citigroup's move to shift ailing investments on to its balance sheet shows radical steps to right its finances, but analysts said Friday the banking giant's financial woes had worsened.
Read full story Comments Off CORRECTED:Akzo Marine smoothes way to high marginsPosted by UK Economy News
In UK financial news
14Dec 07 Growth in Akzo Nobel's Marine and Protective Coatings unit will underpin higher core earnings for the chemical and coatings maker as it expands through mergers, the head of the business told Reuters in an interview.
Read full story Comments Off Oil prices rebound as IEA, OPEC raise demand forecastsPosted by UK Economy News
In UK financial news
14Dec 07 Oil prices fell on profit-taking Friday after a brief jump back above 93 dollars here on expectations of higher demand for crude in 2008.
Read full story Comments Off World Bank aid group receives record pledgesPosted by UK Economy News
In UK financial news
14Dec 07 The World Bank body that aids the poorest countries said Friday that its donors have pledged a record 41.6 billion dollars for its 2008-2011 budget.
Read full story Comments Off US consumer inflation sizzles in NovemberPosted by UK Economy News
In UK financial news
14Dec 07 High oil prices drove US consumer inflation to the fastest pace in more than two years last month, data showed Friday, raising concerns the Federal Reserve will hold back from further interest rate relief.
Read full story Comments Off Citigroup earmarks $49 billion in stressed ‘assets’Posted by UK Economy News
In UK financial news
14Dec 07 US banking behemoth Citigroup has decided to move a vast portfolio of stressed investments totaling 49 billion dollars onto its balance sheet as it seeks to stem multibillion-dollar losses.
Read full story Comments Off Eurozone November inflation revised slightly higher to 3.1 percentPosted by UK Economy News
In UK financial news
14Dec 07 Inflation in the 13 nations sharing the euro was slightly higher than initially thought in November at 3.1 percent, the EU's Eurostat data agency said Friday, revising up its first estimate of 3.0 percent.
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