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Phoenix Four net another £3.5m

Further return for buyers of failed car manufacturerThe Phoenix Four business executives who bought MG Rover from BMW in 2000 have received a further £3.5m in dividends and share payments in the four years since its collapse.The cash has come from their investment in MGR Capital, a car finance joint venture with a subsidiary of banking group HBOS, now part of Lloyds TSB. MGR Capital, which bought the Rover cars finance and lease loan book from BMW for £313m in 2001, was wound up last year. The Phoenix Four could also be entitled to a further windfall of £12m from ...

GM Europe may slip away from Magna

MAGNA’S grasp on General Motors Europe, the owner of Vauxhall and Opel, appeared to be slipping this weekend as it emerged that all three bidders for the group will be asked to present their plans to Barack Obama’s automotive task force at the end of the month.

Heathrow-on-Sea set for takeoff

Looking out from Southend pier, the Thames estuary is a hub of activity. On a busy day its grey waters are filled with nearly 100 vessels a day, from 1,000ft container ships bearing tons of clothes and other consumer goods to oil tankers, passenger ferries, yachts and speedboats.

Sunday, 12 July 2009

BBC News

The Observer

  • Phoenix Four net another £3.5mFurther return for buyers of failed car manufacturerThe Phoenix Four business executives who bought MG Rover from BMW in 2000 have received a further £3.5m in dividends and share payments in the four years since its collapse.The cash has come from their investment in MGR Capital, a car finance joint venture with a subsidiary of banking group HBOS, now part of Lloyds TSB. MGR Capital, which bought the Rover cars finance and lease loan book from BMW for £313m in 2001, was wound up last year. The Phoenix Four could also be entitled to a further windfall of £12m from ...

The Telegraph

Times Online

  • GM Europe may slip away from Magna MAGNA’S grasp on General Motors Europe, the owner of Vauxhall and Opel, appeared to be slipping this weekend as it emerged that all three bidders for the group will be asked to present their plans to Barack Obama’s automotive task force at the end of the month.
  • Heathrow-on-Sea set for takeoffLooking out from Southend pier, the Thames estuary is a hub of activity. On a busy day its grey waters are filled with nearly 100 vessels a day, from 1,000ft container ships bearing tons of clothes and other consumer goods to oil tankers, passenger ferries, yachts and speedboats.
  • 400,000 new ˜green-collar™ jobsPLANS for the creation of up to 400,000 œgreen-collar jobs will be unveiled by the government this week as part of a blueprint for a low carbon economy.
  • Fresh blueprint for the low carbon economyMINISTERS will this week make their third attempt in five years to map out a low-carbon future for the UK by publishing detailed proposals to cut greenhouse gas emissions.
  • Revealed: £200,000 pay rise for chief of ailing BA pension fundTHE fund manager running British Airways™ troubled pension fund received a pay rise of nearly £200,000 last year, giving her a bigger wage than the airline™s finance director.
  • Jaguar poised to shut for the summerEXECUTIVES at Jaguar Land Rover, the Midlands carmaker, are drawing up plans for an extended shutdown of its UK plants and a new round of staff layoffs as it struggles to cope with the slump in the world car market.

Daily Express

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C.N.N.

Washington Post

  • VW sweetens bid for half of Porsche AG: report FRANKFURT (Reuters) - Volkswagen has sweetened its bid to purchase almost half of sports car maker Porsche AG and is prepared to offer considerably more than 4 billion euros ($5.58 billion), Germany's Der Spiegel reported.
  • Hawaii wants to add space travel to attractions HONOLULU -- Space pioneers envision launching high-end Hawaii tourists from the sand to the stars, taking island-hopping to new heights.
  • Space companies eye HI as potential new frontier HONOLULU -- Tourists coming to Hawaii for high-end getaways could someday be launched from the sand to the stars, taking island-hopping to new heights. Hawaii could even be the first state where space travelers use rocket planes to get from one place to another. Rather than launching and landing in the same spot, planners envision the planes taking off in one place, traveling through space, then coming down in another, going from the Big Island to Oahu. Within a decade, space travelers could island hop from Hawaii to Japan in 45 minutes.

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