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Fiat offers $125 million for Canada’s Chrysler stake: CEO

admin — Mon, 06 Jun 2011 18:31:47 +0000

Fiat has offered $125 million to buy the Canadian government’s stake in Chrysler Group LLC as it moves swiftly to strengthen its control of the U.S. automaker, Fiat Spa CEO Sergio Marchionne said on Saturday.

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Chrysler Said to Prepare to Pay Back Government Loans Next Week

admin — Thu, 19 May 2011 04:35:37 +0000

May 18 (Bloomberg) — Chrysler Group LLC plans to repay U.S. and Canadian government loans on May 24, clearing the way for Fiat SpA to increase its ownership in the U.S. automaker, two people …

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Uninsured Cars to be Crushed Under New Government Proposals

admin — Tue, 19 Apr 2011 06:01:22 +0000

It is an offence to drive an uninsured car and soon it will be illegal to keep a car that is uninsured to. Under new Government proposals uninsured new and used cars in Yorkand across the UK will be crushed whether they are been driven or not.

This does not apply to cars which have been declared off road, but is designed to discourage drivers from driving without insurance. It is estimated that about one million people drive uninsured in Britain, costing law abiding motorist an extra 30 a year on their insurance premium. Owners will be issued with a 100 fine if the vehicle is not insured by a certain date and face their vehicle being seized and crushed if it is not subsequently insured. Critics suggest that the new proposal will not deter those who deliberately drive without tax or insurance but will catch out the average motorists- ‘chancers’ who leave it a few months before renewing. Records from the Motor Insurers’ Bureau and the Drivers and Vehicle Licensing Agency (DVLA) will be compared in order to catch offenders. But those who drive cars not registered in their name- ‘the motoring underclass’- will not be detected through this system and will only be caught if police pull them over. The tough new motoring rules will not take into account those who are away for a period of time or in hospital when their insurance renewal is due.

But those who drive cars not registered in their name- ‘the motoring underclass’- will not be detected through this system and will only be caught if police pull them over. The tough new motoring rules will not take into account those who are away for a period of time or in hospital when their insurance renewal is due.

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The tough new motoring rules will not take into account those who are away for a period of time or in hospital when their insurance renewal is due.

Most Asia Stocks Fall After China Reports Property Measures

admin — Fri, 24 Dec 2010 06:01:11 +0000

Dec. 23 (Bloomberg) — Most Asian stocks declined as developers in China fell after the government stepped up scrutiny of real estate investments to curb rising housing property prices, countering gai

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Bank scheme ‘did not lift loans’

admin — Tue, 21 Dec 2010 02:43:12 +0000

A government plan to restore confidence to the markets worked but it did not fully succeed in boosting lending, a report says.

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FG Reconstitutes Board of Federal Mortgage Bank

admin — Mon, 13 Dec 2010 09:51:54 +0000

The Federal Government has approved the reconstitution of the board of the Federal Mortgage Bank of Nigeria (FMBN). A statement from the office of the Special Assistant (Media/Admin) to the Minister …

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Mortgage exit fee ban could backfire

admin — Sun, 12 Dec 2010 11:07:33 +0000

The federal government’s vow to ban mortgage exit fees on new home loans could unintentionally hurt smaller lenders.

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Calif. economic study: Gains after near-term pain

admin — Tue, 07 Dec 2010 10:23:37 +0000

New state government reforms and a revived housing market along the coast could put California’s economy on a strong footing when it finishes its long, slow slog through a sluggish recovery, according to an economic forecast released Tuesday. Read comments

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Spanish Government to approve privatisation, scrap benefit

admin — Fri, 03 Dec 2010 11:49:50 +0000

The Executive may also approve an increase in tax on tobacco. Zapatero cancelled an official trip to Bolivia for the Ibero-American summit to chair Friday’s meeting.

The Council of Ministers of Spain on Friday is set to pass a series of anti-recession measures which will include a reduction in taxes for SMEs (Small and Medium Enterprises) , the withdrawal of a monthly unemployment benefit worth 426 Euros (for those no longer covered by their national insurance) as well as the partial privatisation of airport handlers AENA and the national lottery.

In addition, a further unexpected measure may also be passed: An increase in the tax on tobacco.

Spanish Government President José Luis Rodríguez Zapatero, who announced new measures on Wednesday , was expected to chair Friday’s meeting after cancelling a trip to Bolivia where he was to participate in the Mar del Plata (Angentina) Ibero-American summit.

The announced package of measures seeks to boost business investment and employment via a tax cut designed to benefit 40,000 SMEs, and improve tax provisions for the investment and amplification of capital to favour all businesses regardless of their size.

The Government also plans to approve plans to privatise 30% of the national state lottery and 49% of AENA, the, up until now, wholly state-owned company which manages almost all of Spain’s airports. The Government intends to put both Madrid’s Barajas and Barcelona’s Prat airports out for tender in the hope of raising 14,000 million euros .

The Executive also intends to scrap a 426 euro benefit created last year for long-term unemployed whose usual state allowance had run out.

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China lending to top $1.2 trillion in 2010: report

admin — Tue, 30 Nov 2010 14:51:07 +0000

HONG KONG (MarketWatch) — China’s total credit growth this year could reach 8 trillion yuan ($1.201 trillion), exceeding the government’s target of 7.5 trillion yuan in new lending, according to a report Tuesday by the state-run China Daily. About 588 billion yuan of new loans were extended in October, lifting the total loan issuance in the first 10 months of the year to 6.88 trillion yuan, the China Daily reported, without saying where it got the figures. If the government were to enforce its lending quota, about 600 billion yuan would be available for the remaining eight weeks of the year, the report said. Credit growth for the full year, however, is likely to total 8 trillion yuan, or 6.7% more than the government’s target, according to estimates compiled by Deputy Director of Renmin University’s School of Economics, Liu Yuanchun.

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