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Downing Street says it will stand in way of any attempt to take over BP
The government has told BP that it would oppose any potential takeover of the energy company, which was seriously weakened by the huge bill incurred after the Gulf of Mexico oil spill disaster five years ago.
Companies and Markets
Piech leaves VW after bruising board battle
Volkswagen is entering a new era after the abrupt resignation of controversial chairman Ferdinand Piech, who transformed the world’s second-largest carmaker by sales into an automotive powerhouse but frequently irked investors.
Piech departure leaves VW with void to fill
The resignation of Ferdinand Piech, the dominant fierce at Volkswagen for more than two decades, leaves a void at the top of the German carmaker, comparable to Apple without Steve Jobs. Although senior directors became ever more frustrated with the chairman’s campaign to topple CEO Martin Winterkorn in recent days, none of them really believed he would walk away from his life’s work.
Drivers’ details sold to parking firms for £31m
The number of personal driver records being sold to parking companies has increased more than ten-fold in less than a decade amid growing concerns that motorists are being used as “cash cows”. During 2006-07 the number of records obtained by parking firms was 272,000.
Top cars at the bottom for comfort, say drivers
Some of the world’s best-selling car manufacturers have been criticised for leaving motorists with sore backs and aching bottoms. Volkswagen, Toyota, Nissan and Hyundai models were named as the most uncomfortable as part of a survey of more than 61,000 British drivers.
From Saturday’s paper (25.4.) :
Sir Hal Miller
The former Tory MP Hal Miller was a big, doughty man who went into politics because he felt he could make Britain a better place. He was wrong. Eighteen years after he was elected, Miller admitted that going into politics was his biggest mistake.
Exclusive letter to The Telegraph from 5,000 small business owners who helped to get the economy moving again
“Businesses like ours have helped to create 1,000 jobs a day since 2010. We would like to see David Cameron and George Osborne given the chance to finish what they have started. A change now would be far too risky”.
Oil-price crash due to wipe out two-thirds
Shell is expected to reveal this week that the collapse in the price of oil has wiped two-thirds off its first-quarter profits. The company has been hit hard by the economic and geopolitical forces set against the price of oil, which at $65 (£42.80) per barrel costs little more than half as much as it did last summer, in spite of recent gains.
Volvo benefits as Beijing steers away from bling
Drive in the traffic-clogged streets of Shanghai, where red lights and stop signs are often ignored rather than obeyed, and it’s obvious why China is Volvo’s biggest market. With a history of producing the safest cars on the road, the Swedish company’s vehicles are much in demand in China from drivers who want to protect themselves and their passengers.
Oil price fuels profit alerts
Stock market companies have racked up a six-year record for profit warnings after energy firms were hit by the falling price of crude oil. EY’s quarterly report said that 5.4pc of all quoted firms issued warnings in the first three months of the year, the highest percentage since 2009.