19:44:30

Honda's May China vehicle sales up 33 pct

SHANGHAI, June 14 (Reuters) - Honda Motor Co.'s (7267.T: Quote, Profile, Research) China vehicle sales jumped 33.3 percent in May, outperforming 23 percent growth in China's overall passenger car market.

Honda, maker of the Civic, Accord, CR-V and Odyssey models, sold 29,812 vehicles in China during the month, up from 22,364 units in May 2006, it said in a statement on Thursday.

Sales at its venture in central China jumped 194.8 percent to 9,546 units, due to robust demand for its Civic sedan which hit the market in April last year.

Sales at its venture in south China climbed 6 percent to 20,266 vehicles.

In the first five months of the year, Honda, which competes with Toyota Motor Corp. (7203.T: Quote, Profile, Research) and others in the world's second-largest auto market, moved 159,122 vehicles in China, up 38.8 percent from 114,678 units a year earlier.

8:19:45

Asia markets mixed as Europe, US equities see gains

Asia-Pacific equities markets were mixed on the session on Friday. In Australia, the Sydney Ordinaries added 0.46 percent to 6,317.1 and the Hang Seng index gained 0.72 percent to 21,017.05 in Hong Kong. On the other hand the Straits Times index in Singapore dropped 0.06 percent to 3,581.16, while the Sensex fell 0.33 percent to 14,162.71 in India. In Tokyo, meanwhile, the markets were higher as the yen continued to weaken. The Nikkei 225 was 0.7 percent higher to 17,971.49, while the Topix index added 0.9 percent to 1,772.94. Small and mid-cap indexes did even better, with the Mothers market gaining 1.3 percent to 939.29 and the Jasdaq ending 1.7 percent higher to 82.46.

In Tokyo, exporters did well. Toyota Motor (TYO: 7203.T; NSYE: TM; LSE: TYT) gained 1.6 percent to 脗楼7,690.

13:26:46

Honda Civic Type R ready for new asphalt challenge

The Honda Civic Type R run by JAS Motorsport faces a new challenge as it moves onto asphalt for round three of the Intercontinental Rally Challenge, the Ypres Rally Belgium.

Drivers Dani Sola and Luca Betti made a promising debut with the car on the all-gravel Rally of Turkey last month, but the specialist asphalt roads of Belgium will mark another chapter in the new cars development particularly as the Honda drivers will be up against a wide variety of well-known local experts.

JAS ambitions will be officially supported by Pirelli, providing factory support and custom developed tyres to suit one of the most competitive front wheel drive rally cars.

Engine development will still be incooperation with GIANFA, continuing a long and well established partnership with Carlo and Giuliano Facetti which are the mainactors of the oustanding success of JAS-tuned Honda engines in the last 6 years.

15:16:02

BMW 335i Cabrio

A BMW convertible has always been a desirable drop-top, and especially the 3 Series cabriolet draws a lot of attention. This sunseeker grabs the attention of the upwardly mobile trendsetters who are eager for flashy wheels that will make them look cool.

And the latest 3 Series cabriolet is no different. It is again a trendsetting and distinctive topless number. However, the big news on this model is the fact that it now comes with a retractable hard-top roof.

You will be forgiven if you see a 3 Series cabrio with the top up jetting pass you and mistake it for a coupe. Most of the car's design cues, such as the nose, are similar to that of its coupe sibling. Only if you see the side profile you'll notice the difference. The cabriolet version appears "flatter" and not as curvaceous as the coupe.

21:43:10

A tax rate that enrages Middle England

In this current boom, the super-rich are making such extraordinary fortunes that they are not just stoking the suspicion of the working class, but the well-paid middle classes, too. The battle lines in Britain’s class war are shifting: it is no longer Citizen Smith and the Tooting Popular Front agitating for change, but Mr and Mrs Smith and the Wimbledon Neighbourhood Watch scheme who are crying "Power to the People!"

University-educated men and women working hard and enjoying successful careers in public companies are finding themselves frozen out of swaths of the London property market by a new breed of wealth: hedge fund managers, private equity partners and investment bankers. There are signs of a new kind of fissure between the reasonably well-off and the absurdly wealthy – not a blue-collar/white-collar divide, but suit-and-tie versus open-necked shirt; not over how much you are paid, but how: are you someone who measures your earnings in salary or capital gains?

In this context, Nicholas Ferguson’s observation that many private equity executives are "paying less tax than a cleaning lady" has only played to the politics of middle-class envy.

17:02:17

Speed demons cause crash; Highway 400 closed, creating traffic chaos

In was sheer luck and seatbelts that saved the lives of numerous people involved in a serious Highway 400 collision, Saturday evening. While 11 victims of the multi-car crash were taken to hospital, including a four-year-old boy, police said none suffered life-threatening injuries.

Excessive speed by two drivers caused the four-car accident between highways 88 and 89 shortly before 7 p.m. A 22-year-old female driver of a VW Golf and a 26-year-old male driver of a Honda Civic were arrested and charged with criminal negligence and dangerous driving causing bodily harm. Police said it has yet to be determined whether or not the cars were racing, or simply just driving fast.

"We don't think they knew each other, but witnesses said they were making really aggressive lane changes all the way up the highway.

13:39:44

Williams: Lewis is unique

Sir Frank Williams on Friday night described Formula One rookie sensation Lewis Hamilton as a unique talent.

The Williams team boss, who has won nine constructors' titles and secured seven drivers' crowns for the likes of Nigel Mansell, Alain Prost, Damon Hill and Jacques Villeneuve, claimed Hamilton's instant impact on the sport was unparalleled.

"In my opinion," Williams said of the 22-year-old McLaren driver. "I've never seen anyone arrive and be so successful so quickly. That is to say from his first race. It is quite remarkable. I am looking hard to find fault with him and he is very nice, which is quite unusual, too."

Williams, who has been in motor racing for almost 40 years, was asked if Hamilton reminded him of any other drivers in his long career.

"Nobody," he replied.

21:01:14

DFC Intelligence Estimates Worldwide Portable Game Market to ...

SAN DIEGO-(Business Wire)-March 21, 2007 - According to a new report from DFC Intelligence, worldwide revenue from the portable game systems from Nintendo and Sony is expected to exceed $10 billion in 2007. The market is being led by the Nintendo DS, the hottest selling system of 2006. "The DS has the potential to be the best-selling interactive entertainment platform ever," says David Cole, an analyst with DFC Intelligence.

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21:08:41

CDC Games to Expand Development Partner Program with Up to $100 ...

BEIJING--(BUSINESS WIRE)--CDC Games, a business unit of CDC Corporation (NASDAQ: CHINA) and pioneer of the "free-to-play, pay-for-merchandise" model for online games in China, today announced plans for its accelerated expansion into the development of online games through the establishment of a subsidiary to be named CDC Games Studio.

CDC Games Studio expands the scope of the Online Games Developer Partner Program announced in August of 2006. The original partner program was funded by up to $20 million and focused on investments in strategic games development partners to accelerate the development of new and original online games for the China market. CDC Games Studio will continue to place strategic investments with selected game developers and also support emerging game developers with the resources they need to rapidly develop innovative new games.

11:42:00

Nigeria: Nigeria Eyes Grand Master for Chess Glory

Nigeria's quest to maintain her performance at the All-Africa Games has received a big boost following a fruitful attempt by the Nigeria Chess Federation (NCF) President ACP Sani Mohammed to bring top British chess Grand Master, Nigel Short to tutor the country's male and female teams to the African fiesta.

The chess boss, who was in Britain recently, revealed that he was in contact with the highest ranked British champion while in London on his return journey from the Hajj last month and both parties have shown tremendous interest in working together to ensure that Nigeria come tops in the 15 medal chess event of the 9th-All Africa Games.

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10:06:45

BitTorrent to sell movie downloads

BitTorrent, the San Francisco company that created the most popular software for pirating content on the Web, launched a marketplace of legal movies on the Internet Monday.

The site has the blessing of four major studios and about three dozen other publishers of video, games and software.

"BitTorrent has the infrastructure, technology and established user base to significantly move the needle on digital distribution with quick, easy and affordable delivery," Thomas Lesinski, president of Viacom's Paramount Pictures Digital Entertainment, said in a statement.

BitTorrent.com's library will contain more than 3,000 movies and TV shows, rivaling the selection found at CinemaNow and Movielink, legal sites that long have had the blessing of the entertainment industry.

investing companies

UTV on an expansion spree

UTV wants to be a global player in the entertainment industry. The company has announced its floating of eight new international channels, targeting all sections, including kids, youth, and families by investing $200 million.

Four of the channels will kick off in August and the other four by this year's end.

Ronnie Screwvala's promoted UTV also plans to make 12 films in a month. The company will be listed on London Stock Exchange next month.

It may be recalled that Walt Disney acquired a 15% stake in the company. .

futures brokerage

General Freight Services鈥?Greg Sebolt Elected to TIA Board

ATLANTA--(BUSINESS WIRE)--General Freight Services, Inc. today announced that Greg Sebolt, president and COO, has been elected to the board of directors for the Transportation Intermediaries Association (TIA).

TIA is the premier professional and educational organization of the $114 billion third-party logistics (3PL) industry and is committed to advocating for best practices and ethics in the industry. Board members are elected by the membership of TIA, which consists of logistics service providers, shippers and carriers.

"This opportunity gives me the ability to impact my profession and peers in even greater and more direct ways," said Sebolt. "As a board member, I will help shape the future of our industry promoting continued growth and success for both the 3PL community and TIA."

Sebolt was recently promoted to the role of President and COO of General Freight Services and brings more than 15 years experience in supply chain and logistics services.

high yield investing

Explore Investment Opportunities With HSBC

Bandar Seri Begawan - HSBC has always been at the forefront of the investment market and their qualified financial planners are readily available to help their customers choose the best investment opportunities.

To keep their customers abreast of upcoming investment opportunities, HSBC is organising a seminar, entitled "Exploring New Investment Opportunities-, exclusively for its valued customers.

Conducted by Ashley Neal, Vice President of BlackRock Investment Management (Singapore) Limited, it will be held on April 28 at the Mutiara Ballroom of Sheraton Utama Hotel.

Among the products that will be addressed at the seminar include the MLIIF Global Allocation Fund, a diversified core mutual fund investing in US dollars and international stocks, bonds and alternative cash equivalents, which can help protect investors during market downturns, while still letting them benefit if the markets rise.

stock broker switzerland

Who's to blame for dangerous subprime mortgages?

We've all been reading stories about the subprime mortgage meltdown for months, but a comprehensive study by the Reinvestment Fund, a nonprofit that works to stimulate growth in low- and moderate-income neighborhoods, made the issue hit home.

A Philadelphia Inquirer front-page story on the study offered some heartbreaking cases of Philadelphians likely to lose their homes, and perhaps tumble into bankruptcy. It's a tragedy, an outrage.

To be precise, the TRF study was on predatory lending -- selling high-risk mortgages to people who cannot afford them. That's not quite the same as subprime mortgages, which are loans to people with poor credit. Not every subprime mortgage is predatory.

But most predatory loans are subprime mortgages.

The first homeowner described in the story bought a $66,900 house in 2003 with plans to fix it up and rent it out.

forex blog

CURRENCIES: Euro Lower After Trichet; Yen Slumps As Carry Back In ...

The euro fell against the dollar on Thursday after the European Central Bank hiked its key interest rate by a quarter percentage point to 3.75% as expected and said rates are now "moderate" rather than "low." Jean-Claude Trichet, President of the Frankfurt-based ECB, which sets interest-rate policies in the 13 countries that use the euro, said rates remain "accommodative" and that the central bank will "very closely" monitor price developments, an indication that a rate hike in the next quarter is likely. But Trichet did make one concession, saying that rates are now "moderate." He added that he wasn't preparing markets for a "restrictive" policy. "Trichet opted for a less hawkish tone when he said that interest rates are now moderate rather than low," said Kathy Lien, chief strategist at DailyFX.com.

pioneer investments

Fidelity unveils Advisor funds

Fidelity Advisor International Real Estate, Fidelity Advisor Canada and Fidelity Advisor Small Cap Independence funds will provide financial advisers and their clients with greater diversification across asset classes and geographical areas, Boston-based Fidelity said in a statement.

Class A, T, B, C and Institutional shares will be offered through advisers at institutions such as brokerage firms, banks and insurance companies.

With the addition of the three funds, Fidelity said it now offers 99 Advisor funds.

Creating a well-diversified portfolio for clients is the primary goal of any successful financial [adviser], Martha B. Willis, executive vice president at Fidelity Investments Institutional Services Co., said in a statement.

By investing in a range of asset classes and geographical areas, [advisers] can add significant value to a clients portfolio by mitigating risk through diversification and focusing on long-term investment objectives.

institutional investor

Joost Adds Millions To Launch Plans

Joost, an Internet television service set to launch later this year, today announced $45 million in financing from two venture capital firms, two major content companies and a charitable trust. Index Ventures, Sequoia Capital, CBS Corp., Viacom and Li Ka Shing Foundation each invested in a minority percentage of the company.

"We've carefully selected these investors from a variety of interested parties, as they are best-in-class in their respective arenas and bring unique assets to Joost that will enable us to significantly accelerate growth and development of the Company," Joost co-founder Janus Friis said in a statement.

Index Ventures is a European venture capital firm which invests in technologies that with global reach. Sequoia Capital, according to Joost, Sequoia has been the first investor and business partner in companies that make up 10 percent of the NASDAQ's value.

brokerjoker

Townsend Analytics Goes Live with Expanded Connection to ISE

CHICAGO, May 2 /PRNewswire/ -- Townsend Analytics (http://www.townsendanalytics.com/), a leading provider of multi-broker, multi-asset, multi-currency, and multi-route electronic trading solutions for the global capital markets, today announced the successful expansion and activation of its direct market access (DMA) connection with the ISE Stock Exchange.

RealTick's institutional buy-side clients and investors around the world now have direct access to the enhanced functionality and trading flexibility offered by the ISE Stock Exchange. ISE's equity trading platform combines a fully displayed stock market with its MidPoint Match(TM) liquidity pool for trading equities anonymously at the midpoint price of the National Best Bid and Offer (NBBO).

Through its order types, the ISE Stock Exchange provides an innovative way to integrate dark and displayed pools of liquidity to maximize execution quality.

spain property investment

Tenants to Confront Landlord in His UCLA Classroom

A group of low income tenants will attempt enter their landlords real estate investment class this evening (Tuesday, May 15) and come face-to-face with the man who is trying to displace them. They plan to demand he stop what they say are illegal attempts to evict them.

The tenants landlord is UCLA Professor Eric Sussman who teaches a Real Estate Investment class at UCLA Anderson School. The tenants say they are concerned that a professor at a taxpayer-funded institution may be setting an example for his students that the way to manage real estate holdings and maximize profits is through illegal business practices. Tenants are requesting that the University conduct a complete review of the business practices of Sussman. The tenants live in a 66-unit rent-controlled complex in Echo Park.