Kelly Gilblom, Bloomberg 8:00 am CST, Tuesday, February 5, 2019 In this Tuesday, Feb. 2, 2016 file photo, the logo of the BP is seen outside its petrol station in East Molesey, southwest London. NEXT: See recent earnings statements from energy companies of interest to the Houston area. less In this Tuesday, Feb. 2, 2016 file photo, the logo of the BP is seen outside its petrol station in East Molesey, southwest London. NEXT: See recent earnings statements from energy companies of interest to the ... more Photo: Matt Dunham, Associated Press Photo: Matt Dunham, Associated Press Image 1 of / 27 Caption Close Image 1 of 27 In this Tuesday, Feb. 2, 2016 file photo, the logo of the BP is seen outside its petrol station in East Molesey, southwest London. NEXT: See recent … [Read more...] about BP surges as profit exceeds expectations and returns get a boost
Expected market return
These days it seems as though every automaker, no matter how small, has a performance division on hand to offer up the occasional heart-pounding model variant to be coveted by enthusiasts. However, it only seems that way. Many brands have to go without. Despite once branding itself as the everyday performance brand, Mazda hasn’t delivered a new Mazdaspeed vehicle since 2010. This left us wondering if the brand’s performance division would ever return. We even asked the company to weigh in on the situation back in 2017, with Mazda suggesting that all of its models are performance oriented (before saying it couldn’t comment on future products or any associated speculation). Subsequent inquiries were met with nearly interchangeable explanations. Similarly dissatisfied, the folks at Road & Track adjusted their line of questioning in the hopes of prying more information out of Mazda. Rather than asking what’s happening with Mazdaspeed, they asked what it … [Read more...] about Don’t Expect a Return of Mazdaspeed
FILE PHOTO: Sergei Frank, president and chief executive of Russia’s Sovcomflot shipping company, attends the St. Petersburg International Economic Forum (SPIEF), Russia May 25, 2018. REUTERS/Sergei Karpukhin/File Photo MOSCOW (Reuters) - Russian state-owned shipping company Sovcomflot said on Tuesday that uncertain conditions in the freight market are delaying its long-planned initial public offering (IPO). The Russian government has weighed a listing of Sovcomflot for years as part of broader privatization plans, but obstacles ranging from weak markets to international sanctions placed on Russians over Moscow’s role in Ukraine crisis have prevented an IPO. The Russian economy ministry has said it had hoped to raise 24 billion rubles ($358 million) from the sale of a stake in Sovcomflot. Sovcomflot’s chief executive Sergei Frank told reporters that shipping markets are expected to improve this year, with signs of a recovery seen in the fourth quarter of last … [Read more...] about Russia’s Sovcomflot IPO hobbled by weak freight markets: CEO
Tweet TweetBMW withdrew from the world of Formula One after the 2009 season due to the severe global economic downturn. The German company was forced to cut costs, and although their Sauber outfit was competitive in the Constructors’ Championship in the 2007 and 2008 terms, finishing second and third respectively. Despite their relative success in the sport, the expense ended their involvement and they have not opted to re-join the action since. However, with new regulations coming into force for the 2021 term, there could be an opening for a return, considering that the financial markets have settled. The company had previously been solely an engine supplier, most notably in a six-year spell working with Williams between 2000 and 2005. The outfit came close to victories in the Constructors and Drivers’ Championship, with Juan Pablo Montoya reeling off back-to-back third-place finishes. Ralf Schumacher also enjoyed success with Williams during the run, notching six … [Read more...] about Could BMW Return to Formula One?
Suzuki announced today that it is making plans to return to the North American automotive market in 2021. The Japanese automaker pulled out of the U.S. and Canada in 2013, after only having its subcompact SX4, compact Grand Vitara SUV, and mid-sized Kizashi sedan as offerings. The company, according to an anonymous source, has said it reevaluated the U.S. market and decided to focus on its strength of small crossovers and hatchbacks. It is expected the company will initially offer the latest variant of the SX4 S-Cross pictured above. However, this will be its largest vehicle offering. "Suzuki has learned from its experience in the North American Markets, and will be focusing on what we do best, which includes small cars and crossovers," says an anonymous source from within the company. "We're excited to bring our expertise in this vehicle genre back to North America, where we feel we will be extremely successful." Suzuki also said it plans to introduce a couple of kei cars to the … [Read more...] about Suzuki Announces Plan to Return to North American Market