Australian (Australia) Russians, British end feud over TNK-BP
05 Sep 08
The deal “closes the books on an ugly chapter for TNK-BP”, said Andrew Neff, an analyst with US-based research group Global Insight.
“Nevertheless, TNK-BP is not out of the woods just yet as there are important details still to hammer out,” Mr Neff said, referring to disputes over TNK-BP projects outside Russia and a deal on the Kovykta gas field in Russia.
Birmingham Post (UK) UK's abysmal car sales now back to the Swinging Sixties
By John Cranage
05 Sep 08
The VDA, Germany's equivalent of the SMMT, said yesterday however that despite the August slump it expects sales this year to be comparatively flat at about 3.2 million Economist Howard Archer of the consultants Global Insight, said of the UK figures: "Even allowing for the fact that August is typically a quiet month for the car market due to the number plate change in September, this was very worrying."
BusinessWeek The 65 mpg Ford the U.S. Can't Have
Ford's Fiesta ECOnetic gets an astonishing 65 mpg, but the carmaker can't afford to sell it in the U.S.
By David Kiley
05 Sep 08
Yet while half of all cars sold in Europe last year ran on diesel, the U.S. market remains relatively unfriendly to the fuel. Taxes aimed at commercial trucks mean diesel costs anywhere from 40 cents to $1 more per gallon than gasoline. Add to this the success of the Toyota Prius, and you can see why only 3% of cars in the U.S. use diesel. "Americans see hybrids as the darling," says Global Insight auto analyst Philip Gott, "and diesel as old-tech."
Daily Telegraph (UK) BP's Russian alliance with Gazprom put on ice
By Russell Hotten
05 Sep 08
However, Andrew Neff, energy analyst at Global Insight, warned that Kovykta was one of BP's "lingering issues'' in Russia that would eventually have to be resolved. The fear is that Gazprom's attention has been diverted to other projects, but that eventually the Russian company's interest in Kovykta will return.
Guardian (UK) Credit crunch: Small cars suffer least as vehicle sales move into the slow lane
By Mark Milner
05 Sep 08
Howard Archer, the chief UK and European economist at Global Insight, said: "Sharply deteriorating car sales are a further clear sign that consumers are increasingly cutting back on their spending.
"Many consumers are doing this out of necessity, due to squeezed purchasing power, but it is also likely that many are retrenching out of choice, reflecting serious concerns about the economic situation and outlook."
Home news New car sales crash to lowest since 1966
Ken Gibson, Motoring Editor
05 Sep 08
August is traditionally a slow month for sales, as many drivers wait for new number plates in September. But economist Howard Archer said: "Even allowing for that, this is very worrying.
"Sharply deteriorating car sales are a further clear sign that consumers are cutting back on their spending.
"It is likely that many are retrenching out of choice, reflecting serious concerns about the economic outlook." Record petrol prices have created a surge in demand for more fuel-efficient diesel motors. They account for 43 per cent of new car sales this year, up by 6.3 per cent. The Society of Motor Manufacturers & Traders expects total sales of 2.26 million this year, down from 2.6 million in 2004.
Los Angeles Times Survey finds rate of decline in house prices slows in 2Q; overvaluation concerns ebbBy The Associated Press
05 Sep 08
The median price of a U.S. home slipped at an annual rate of 5.3 percent in the second quarter, compared with a 6.6 percent decline in the first quarter of this year, according to the House Prices in America study by Global Insight Inc.
...."Although the markets that were extremely overvalued two years ago are seeing expected price declines, other areas are seeing price declines due to weak economic conditions," said Jeannine Cataldi, senior economist and manager of Global Insight's Regional Real Estate Service "The market has a lot of inventory to work through before prices will change course."
New York Times Sales Decline 20%, but G.M. Sees a Bright Spot
By NICK BUNKLEY
05 Sep 08
The market is expected to remain challenging until 2010, said George Magliano, an analyst with the research firm Global Insight.
“I’m keeping my Champagne in the cooler for now,” Mr. Magliano said. “We may be at the bottom, but it’s going to be a long, long bottom.”
Gas prices have fallen about 11 percent since peaking in mid-July, according to the AAA motor club. That has helped dealers persuade some shoppers to buy S.U.V.’s again, but many would-be buyers were still putting off their purchases for now.
“It’s taken a lot of lunacy out of the market,” Mr. Magliano said. “When gas prices were going up, people were saying, ‘I’m not going to buy anything. Not a sport utility or anything that even looks like a sport utility.’ ”
Phillipines Daily Enquirer (Phillipines) Oil prices fall on drop in US fuel demand
05 Sep 08
"Demand is still pretty weak," said Simon Wardell of Global Insight. "We are seeing much more supply and I think demand is going to take precedence at the moment."
Reuters (UK) Angola election officials say vote campaign fair
By Henrique Almeida
05 Sep 08
"In reality, the election is likely to be a one-horse race," said Global Insight analyst Kissy Agyeman.
"However, it will be interesting to see whether the MPLA can maintain its huge majority in parliament, or whether the opposition parties will increase their representation."
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