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Mercedes C-Class adds zip to Daimler’s sales
Daimler’s first-quarter net profit almost doubled compared to a year ago helped by demand for the new Mercedes-Benz C-Class saloon and surging truck sales in North America.
Audit urges overhaul of Nigeria’s state oil company
Nigeria’s state oil company is assuming “carte blanche” and spending nearly half the proceeds from crude oil sales before they reach the treasury, according to a long-awaited audit into billions of dollars of allegedly “missing” oil revenues.
Companies and Markets
Trade wind BP’s buying and selling division cushion fall in profits after crude price rout
BP’s oil trading division, one of the biggest and most active of any big energy company, helped the group report a smaller than expected fall in first-quarter profits despite the sharp drop in crude prices, writes David Sheppard.
Ford waits for its pick-up truck to deliver
Ford has missed earnings targets because of the delayed introduction of the redesigned and re-engineered F-150 pick-up truck and the Edge model for the popular “SUV crossover” market. European operations stuck deep in the red have not helped the American group, either.
BP profits sink amid rising tide of crude and lower oil prices
A strong performance from its refining and trading division has helped to insulate BP from the collapse in oil prices, but the group warned yesterday that it was in the middle of a painful adjustment to a new era of plentiful crude.
Miliband goes on the offensive over welfare cuts and cost of living
Ed Miliband will today issue a stark warning that another term of Conservative government would put family budgets, the NHS and the country’s future “at risk”. The Labour leader’s claim that millions of working people would suffer will be seen as an attempt to create a “fear factor” about a Tory administration.
Russia and weak oil price savage BP profit
BP’s profits dived by 39 per cent in its first quarter as the sliding oil price took its toll on the bottom line. The FTSE 100 oil giant reported a $2.1bn (£1.4bn) profit for the first three months of 2015, down from $3.5bn a year earlier.
Cameron’s pledge: No tax rises for five years
There will be no income tax, national insurance or VAT rises for the next five years under a Conservative government, David Cameron will announce today as he promises to enshrine the pledge in law. The Prime Minister will say that the choice facing voters is the “clearest for a generation” as he commits to a five-year “tax lock” that would effectively bar a future Conservative government from raising the taxes.
All cars to have tracking devices from 2018
All new cars are to contain tracking devices that alert the emergency services in the event of an accident. Under EU laws passed yesterday the technology will be compulsory from 2018 and fitted as standard in every model of car and small van.
Gatwick oil: no permit for further drilling
Drilling for oil at Horse Hill near Gatwick will not be allowed to proceed any further because its backers, including the entrepreneur David Lenigas, do not have the necessary approvals from government agencies.