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Hertz gains speed after chief announces his exit– Shares in Hertz, the car rental company struggling with accounting problems, rose yesterday after its chief executive announced his exit. Mark Frissora, who has been in the post since July 2006 said he was leaving for “personal reasons”. Shares rose nearly 2 per cent by lunchtime before closing 0.14 per cent higher at $28.50.
Cracks in the road give German growth a rough ride – Chris Scott, the director of Claridon, a British international logistics company with an office in Dusseldorf, rates Germany’s roads the best in Europe. “I wish we had their network in the UK”, he said. The image of a smooth ride along the autobahn is as synonymous with the German experiences as the luxury cars speeding along it. But what has traditionally been a big economic advantage for the eurozone’s largest economy is in danger of passing into myth.
Investors pull cash from Scotland – Asset managers, investors and pension savers are moving hundreds of millions of pounds out of Scotland, according to industry executives, amid rising concerns about the consequences of a Yes vote in next week’s independence referendum.
Carney rejects sharing the pound – The governor of the bank of England said yesterday that a currency union between the UK and an independent Scotland would be “incompatible with sovereignty”, in a marked hardening of his position against sharing the pound.
Renault joins billionaire in emission-free launch – French billionaire Vincent Bollore and carmaker Renault are teaming up to make electric cars in a bet on a pick-up in demand for emission-free vehicles and the expansion of “green” urban car hire.
European groups blame Chinese carmakers in parts pricing probe – European car parts suppliers have claimed carmakers in China forced them to sign exclusivity agreements that broke the country’s anti-monopoly law and pushed up prices for spares.
The Daily Telegraph
Female drink-drive convictions double – The number of women drink-driving has almost doubled in the past 15 years, a survey has shown, as experts blame middle-class drinking habits. The AA blames drinking habits that see mothers having wine at lunchtime before going on the school run or couples drinking with their evening meal before driving to work the next day, believing they are fit to do so.
Jaguar’s new baby fuels flotation hype – Jaguar Land Rover took its first big step into the mainstream of the cut-throat car market last night with the launch of the long-awaited “Baby Jag” aimed at stealing market share from BMW, Mercedes-Benz and Audi. The expected success of the all-new Jaguar XE and that of the Range Rover Evoque, which will be the launch model of the group’s new factory in China, is firing speculation of a partial flotation of Jaguar Land Rover, a subsidiary of Tata Motors.
Workers won’t enjoy par rises until 2016, warns Bank chief – The cost of borrowing will increase before workers benefit from a real increase in their wages, the governor of the Bank of England said yesterday. Mark Carney said that interest rates were likely to rise from their record low of 0.5 per cent in the spring of next year, possibly before the next general election.