Vinnie Paul says Pantera became 'a business'

Vinnie Paul says he is happier with how Hellyeah is run as a band as opposed to Pantera – which he says became more like a business.

The drummer says the fun of being in a group is eradicated by the business aspect, but adds that supergroup Hellyeah hasn't yet reached that stage.

Paul is joined in Hellyeah by Mudvayne frontman Chad Gray, as well as Tom Maxwell and Kyle Sanders. He insists he is proud of what Pantera achieved but that his energy is now solely focused on Hellyeah.


Vinnie tells Metal-Rules: "You know, it's a good legacy to have but people do have to realise that that was then and this is now. A lot of people get hung up on living in the past and I'm not doing that. I'm living for today and for tomorrow.

"What I did back then was amazing, it was great and I'm hoping to achieve that again with this. It's a much different day and age, it's more difficult and harder, but I'm willing to do it.

"When you're in a band like Mudvayne or Pantera, they turn into a business after a while and the fun goes away from it because it's a lot of fucking work.

"I try telling people all the time — try being married to one person for any length of time, much less four or five other guys in the band, and you know that's what it's like. You really have to learn give and take and how things work."

Hellyeah released fourth album Blood For Blood this year, but almost quit before recording began due to an atmosphere described as "toxic." It resulted in the sacking of Greg Tribbett and Bob Zilla, who were replaced by Maxwell and Sanders.

source: classicrock.teamrock.com

Maiden named leading UK business

Iron Maiden have been cited by financial experts as among of the best UK success stories of recent years.

They’ve been named one of six organisations spearheading the music industry in the 21st century, and listed as one of the 1000 most inspiring companies in Britain.

And the London Stock Exchange has hailed the NWOBHM giants’ business model of working hard and touring regularly, noting that it’s turned the potential losses caused by illegal filesharing into big profits.

Iron Maiden LLP, the band’s holding firm, oversaw an online fanbase increase of five million during their Somewhere Back In Time world tour. Over the same period they scored well in terms of steady profit, strong online communication, creating jobs and securing contracts.

Greg Mead of analysts Musicmetric tells the Guardian: “The report suggests Maiden have been rather successful in turning free filesharing into fee-paying fans. This is clear proof that taking a global approach to live touring can pay off.”

And Tom Gilbert of the London Stock Exchange says relatively small firms like Maiden hold the key to future economic achievement. “Over the last few years the biggest companies have produced very few jobs,” he explains. “Jobs recovery has come from small and medium sizes companies.

“The vast majority of companies in the UK are small or medium and their success is something of an unreported story.”

source: classicrockmagazine.com

Online marketing techniques

In the last article we discussed the importance of building an effective online presence. In this follow-up article I will look at three essential marketing techniques for promoting your business online.

Pay-per-click advertising:

"If you build it, they might not come" is very true for a website. You need to spend as much time on promoting your website as you do building it. This may start with some initial search engine optimisation and signing up to online directories to ensure you are found on Google, but consider also adding a pay-per-click campaign to your strategy.

There are many advantages to a pay-per-click campaign: it brings in immediate results and gives you the ability to see which keywords are performing and tweak the campaign instantly to make it more effective.

Using the Google Keyword Tool, work out what keywords bring you traffic and those to use in your pay-per-click campaign. You can also use Wordstream, which gives you more information and I think is better than Google's keyword tool.

The key tip for getting value for money is to set a very restrictive budget. Don't set the budget that Google tells you to set. Set something you are comfortable with. Then, monitor your campaign closely to see if it brings the results you want.

While Google dominates advertising online with Google AdWords, it is not the only medium. Now you can advertise using pay-per-click campaigns in LinkedIn and Facebook. Both are more affordable than Adwords and might be a more relevant medium depending on your audience.

Email marketing:

Email marketing is an important part of online marketing and often overlooked by small businesses. Customers need to be reminded you are out there, and email marketing is the way to do it. E-newsletters are not considered to bespam if a) they contain valuable information; and b) you always provide an opt-out or unsubscribe function.

To run an email marketing campaign you first need a list of contacts. You can start with your existing customers but often small businesses aren't in the habit of collecting names, emails, mobile numbers and so on. Note to self: it's time to start!

Include a form on the landing page of your website with an attractive offer that encourages people to sign up, and you will kick-start the lead-generation process.

Next, use a safe and secure email program such as Mailchimp to send out email marketing. Mailchimp offers great social sharing tools and analytics but there are many other tools out there, including some fully automated marketing software such as Infusionsoft or Hubspot. The important thing is make sure your email marketing campaign gets results by making the content stand out.

Social media marketing:

Social media marketing is the next level of online marketing for micro business owners. Many have started to play with Facebook, Twitter or blogging but without any real strategy. So how do you know which medium will work for you?

Facebook is more geared towards the consumer environment. Retail businesses can use it to make offers and run contests. Having said that it is a great engagement tool for local businesses to share content and build an online community.

Having a blog can position you as an authority in your industry and can gain you credibility amongst your peers and customers.

For service-based businesses, I find a blog combined with email marketing and a PR strategy very effective; while a Facebook, Twitter and social interaction strategy is more effective for a retail business.

The important thing in social media marketing is to monitor the conversation on every platform. This can be daunting for the micro business owner, so I suggest only engaging those tools you are going to manage and use every day and that are appropriate to your business. If your business is in human resources, for example, it is better to be committed to LinkedIn and leverage that as a forum rather than be on Twitter, Facebook and YouTube.

Choose where your audience is and go there. I also recommend using social network monitoring tools such sproutsocial, which helps to track your brand on social media.

Rather than take on all of these techniques at once, start with one and do it well. The real measure of effective online marketing is whether your leads, contacts, new opportunities and returning customers increase.

-- Danielle MacInnis thinks like a customer and creates insightful, practical marketing strategies for small businesses.

source: skynews.com.au

Shutdown could harm US economy

Financial markets are taking the partial shutdown of the US government in their stride in hope of a swift political breakthrough.

Australian shares ended Wednesday's trading session 0.2 per cent higher, while the Australian dollar was modestly lower at around 93.5 US cents.

US Congress failed to reach a compromise on its budget ahead of the US financial year-end on September 30, prompting the shut down that sent about 800,000 public servants home without pay and left only essential government services open.

Bank of America Merrill Lynch economist Saul Eslake said, if the shutdown lasts a few days, there should be only a minor impact on the world's largest economy.

Longer than that and the consequences become more significant. If it extends to a couple of weeks it could reduce US growth in the December quarter by 0.5 per cent.

Any longer could wipe out all growth in the quarter.

The bigger concern will be if the US Congress doesn't agree to lift its debt ceiling by the middle of this month, risking default for the first time.

'If Congress isn't able to resolve this impasse before the US hits the debt ceiling, one of the possible consequences could be a fall in the US dollar and further unwelcome (upward) pressure on the Australian dollar,' Mr Eslake told ABC radio.

'The Reserve Bank clearly wants a lower exchange rate and is quite frustrated about its inability to fulfil that.'

The Reserve Bank of Australia (RBA) left the cash rate unchanged at 2.5 per cent at its monthly board meeting on Tuesday.

But RBA governor Glenn Stevens said a lower currency would assist in rebalancing growth in the economy.

Economists believe that after slashing the cash rate to an all-time low, the central bank will be reluctant to cut much further.

National Australia Bank has pushed back its expectation of a further rate reduction to February 2014, rather than next month.

But NAB still expects economic growth to slow to around two per cent by the end of the year, and well below trend at around three per cent.

This will put pressure on employment and with the new federal government shedding public servants the jobless rate could hit 6.75 per cent in the second half of 2014.

The rate was 5.8 per cent in August.

'With the big picture still unmoved, we continue to see a cut coming but right now there is no rush,' NAB group chief economist Alan Oster said in a note to clients.

The improvement seen in confidence, retail spending, manufacturing and house prices since the August interest rate cut failed to extend into August building approvals, which fell by a larger than expected 4.7 per cent.

Housing Industry Association chief economist Harley Dale said, while approvals are still trending higher, the recovery has been too slow and too narrow geographically.

'This has been the case for some time and the situation simply isn't changing,' Dr Dale said in a statement.

source: skynews.com.au

Asian shares down as US faces shutdown

Asian markets have slumped as the US government edged towards a shutdown over a budget battle.

The face-off in Washington also sent the US dollar lower, while the euro suffered selling pressure from a crisis in Italy that has left the country's five-month-old government on the brink of collapse.

Tokyo on Monday fell 2.06 per cent, or 304.27 points, to 14,455.80, Sydney shed 1.66 per cent, or 88.2 points, to end at 5,218.9 and Seoul eased 0.74 per cent, or 14.84 points, to 1,996.96. Hong Kong shed 1.50 per cent, or 347.18 points, to close at 22,859.86.

But Shanghai rose 0.68 per cent, or 14.64 points, to close at 2,174.67 after a survey by banking giant HSBC showed Chinese manufacturing expanded further in September.

Traders have been spooked by the latest row on Capitol Hill, with the US government on the brink of shutting down after the House of Representatives approved a Republican bill seeking to delay President Barack Obama's health care law.

Legislators now have until midnight on Monday to reach an agreement to keep the government open, but analysts say the chances of a breakthrough are slim.

Obama has threatened to veto any bill that undercuts his sweeping health overhaul, while Democratic Senate Majority Leader Harry Reid says his chamber will reject the bill.

Adding to the crisis is a deadline to raise the country's borrowing limit, which comes up in mid-October. With Republicans determined not to raise the debt ceiling unless Obama gives way on the health bill, there are fears that Washington will run out of cash and default on its repayments.

'Things are far from the 'panic stage', but they don't have to be for investors to be spooked by the apparent intractability of the US political deadlock,' said Tachibana Securities market analyst Kenichi Hirano.

The impasse weighed on the US dollar on Monday, with the unit weakening to Y97.87 from Y98.24 in New York on Friday.

The euro fell to $US1.3500 and Y132.16 compared with $US1.3519 and Y132.88.

The single currency suffered selling pressure after Italian Prime Minister Enrico Letta called a vote of confidence in his left-right government, as former premier Silvio Berlusconi pulled his party's ministers out of the coalition.

President Giorgio Napolitano will have to mediate to find a way out of the latest political impasse, and has said he would dissolve parliament, triggering new elections, only 'if there are no other solutions'.

On oil markets New York's main contract, West Texas Intermediate for delivery in November, fell $US1.35 to $US101.52 in afternoon trade. Brent North Sea crude for November was down 95 US cents to $US107.68.

Gold cost $US1,340.86 at 1805 AEST, compared with $US1,324.60 on Friday.

In other markets:

- Taipei fell 0.69 per cent, or 56.81 points, to 8,173.87.

Taiwan Semiconductor Manufacturing Co shed 2.43 per cent to $Tw100.5 while Hon Hai Precision was 0.52 per cent lower at $Tw75.9.

- Wellington eased 0.97 per cent, or 46.29 points, to 4,736.39.

Telecom fell 1.9 per cent to $NZ2.33 and Warehouse Group was off 2.92 per cent at $NZ3.66, while Air New Zealand rose 0.33 per cent to $NZ1.52.

- Manila slipped 2.95 per cent, or 188.01 points, to 6,191.80.

Alliance Global Group fell six per cent to 23.50 pesos while SM Investments dropped 4.41 per cent to 7.80 pesos.

source: bigpondnews.com

Spain public debt hits record high

Spain's accumulated public debt soared to a record high at the end of June, the Bank of Spain says, shattering government targets despite a relentless austerity squeeze.

Spain, which boasts the eurozone's fourth largest economy, had racked up an unprecedented public debt of 942.8 billion euros ($A1.36 trillion) by mid year, the bank said on Friday.

The figure was equal to 92.2 per cent of the nation's total annual economic output - up 14.7 percentage points from the same period last year.

With just half of the year gone, Spain had already missed its target of limiting the public debt to 91.4 per cent of gross domestic product in 2013, the figures showed.

Prime Minister Mariano Rajoy's conservative government is battling to rein in the soaring public debt by curbing spending.

The ensuing budget cuts have sparked angry street protests as Spaniards endure a two-year recession which pushed the unemployment rate to 26.26 per cent in the second quarter of this year.

High unemployment leads to lower tax income and bigger social security bills for the state, making it even harder to plug the hole in Spain's public accounts.

Rajoy's Popular Party government says it is determined to pursue austerity measures to help the country save 150 billion euros between 2012 and 2014.

It aims to curb the annual public deficit from 7.0 per cent of economic output last year to 6.5 per cent in 2013, on the way to finally bringing it below the European Union-agreed ceiling of 3.0 per cent by 2016.

The Bank of Spain also revised up the first-quarter figures to show the public debt amounted to 90.1 per cent of gross domestic product rather than 88.2 per cent, in line with recent downward revisions of Spain's economic growth.

source: bigpondnews.com

Asian stocks mostly higher on US rally

Asian markets have mostly edged up, with a rally on Wall Street and an upbeat global economic outlook helped by receding fears of a US-led strike on Syria.

However, profit-taking on Wednesday capped gains after the previous two days' advances, while firms linked to Apple dipped in a lacklustre response to its latest range of iPhones.

Tokyo ended flat owing to a late sell-off as dealers cashed in after a four per cent gain since the weekend that was fuelled by Japan's successful bid to host the 2020 Olympics and stronger than expected growth data.

The Nikkei ended 1.71 points higher at 14,425.07, while Sydney added 0.64 per cent, or 33.2 points, to 5,234.4 -- a 2013 high. Seoul closed 0.49 per cent higher, advancing 9.79 points to 2,003.85.

Shanghai rose 0.15 per cent, adding 3.28 points to end at 2,241.27, after another round of Chinese indicators that suggest the world's number two economy is picking up after a slowdown this year. However, Hong Kong was 0.32 per cent down in the afternoon following four straight sessions of gains.

US President Barack Obama vowed in a national address in Washington on Tuesday to give diplomacy a chance before launching a military attack on Syria for using chemical weapons on its own people last month.

The Assad regime earlier in the day agreed to a proposal by Russia to 'place the chemical weapons under international control and then have them destroyed'.

The news soothed tensions on global markets, which slumped last month as traders bet on an attack by the US and its allies, which they feared could spark a wider conflict in the Middle East.

Improving confidence among investors helped the dollar up against the yen, which is considered a safer bet in times of uncertainty.

In the afternoon the greenback bought 100.43 yen, compared with 100.40 yen late New York and well up from the 99.60 yen in Asia on Tuesday.

The euro fetched 132.91 yen and $US1.3253 against 132.48 yen and $US1.3251.

Regional markets were given a positive lead by Wall Street on the back of the Syria developments and the economic data out of China and Japan that suggest a healthy pick-up in the global economy. The Dow rose 0.85 per cent, the SP 500 added 0.73 per cent and the Nasdaq advanced 0.62 per cent.

Oil prices were mixed as easing Syria woes reduced concern about supply from the Middle East. New York's main contract, West Texas Intermediate for delivery in October, eased 30 cents to $US107.09 a barrel in afternoon trade, while Brent North Sea crude for October gained 18 cents at $US111.43.

Both contracts had hit multi-month peaks in August, at the height of the Syrian crisis.

Apple-linked firms were broadly lower, with investors less than enthusiastic about the US firm's latest iPhones, which it unveiled on Tuesday. There was also disappointment that a trumpeted low-cost phone was not as cheap as had been hoped for.

Taiwanese assembler Hon Hai fell 1.3 per cent to Tw$76.00 and camera-lens supplier Largan shed 6.4 per cent to Tw$945.00, while in Tokyo parts supplier Murata Manufacturing Co. fell 2.6 per cent.

Gold cost $US1,367.60 an ounce at 0705 GMT compared with $US1,372.04 late Tuesday.

source: bigpondnews.com

Australian share market closes higher

Australian shares are close to their highest point for the year as investor confidence is boosted by a decisive federal election result and encouraging Chinese economic data.

Stocks are also being boosted by the need for major construction projects in Japan - Australia's second largest trading partner - ahead of the 2020 Olympics.

Easing anxiety over Syria after Russia suggested that Syria place its chemical weapons under international control has also influence trade.

Major resources companies, the big banks and other blue-chip stocks had led the Australian market higher, Lonsec senior client adviser Michael Heffernan said.

'The result of the election has injected a bit of confidence and positive sentiment. That's flowed over yesterday and today,' he said.

Recent economic data from China indicated that the Chinese economy was performing quite well, providing a boost for Australian resources stocks.

BHP Billiton rose 26 cents to $35.90, Rio Tinto added 93 cents to $62.88 and Fortescue Metals was six cents higher at $4.51.

Among the major banks, Westpac was 48 cents richer at at $32.41, National Australia Bank gained 26 cents to $33.44, ANZ firmed 23 cents to $30.17 and Commonwealth Bank jumped 27 cents to $73.90.

Elders rose one cent to 10.5 cents after the rural services provider announced that it had nearly completed refinancing the group and would slash about 10 per cent of its staff.

source: bigpondnews.com

US stocks rise despite Syria

Strong car sales, revived merger and acquisition activity and an expected product launch from Apple have helped propel stocks higher in a week that also featured some major headwinds.

Despite uncertainty over Syria and a disappointing jobs report at the week's close, all three leading indices posted gains for the holiday-shortened week.

The Dow Jones Industrial Average rose 112.19 (0.76 per cent) to 14,922.50. The broad-based SP 500 advanced 22.20 (1.36 per cent) to 1,655.17, while the tech-rich Nasdaq Composite Index tacked on 70.14 (1.95 per cent) at 3,660.01.

Markets were closed on Monday for the Labor Day holiday.

The week's gains were a big improvement over August, which saw the steepest monthly declines for the Dow and SP 500 since May 2012.

Perhaps the week's biggest bright spot was US August auto sales, with the industry selling 17 per cent more cars than a year ago. General Motors, Ford and Chrysler all posted double-digit gains.

The robust auto sales lifted stocks on Wednesday and 'spilled over into better sentiment in general,' said Michael James, managing director of equity trading at Wedbush Securities.

Markets also digested Monday's news that Verizon would buy out Vodafone's 45-per cent stake in their Verizon Wireless joint venture for $US130 billion ($A143.16 billion). Verizon plans a record $US25 billion debt offering associated with the deal in the next week or two, a person close to the situation said.

On Tuesday, Microsoft turned heads when it announced a $7.2 billion acquisition of Nokia's handset business in a bid to become a bigger player in the smartphone business.

Some analysts see increased merger and acquisition activity as a sign of rising confidence in the economy.

Analysts were also cheered by an invitation from Apple announcing a September 10 event in California. The gathering is widely expected to launch two new versions of the iPhone, including a less expensive model expected to appeal to China and other emerging markets.

On Friday, The Wall Street Journal reported that Apple was preparing to ship iPhones to China Mobile in a long-anticipated deal. Apple closed the week 2.3 per cent higher at $498.22.

The news on autos, telecommunications and Apple helped offset Friday's disappointing jobs report. The Labor Department reported a gain of 169,000 jobs in August, below the 177,000 projected by analysts. The report also slashed the jobs estimates for June and July.

The report, while 'not a disaster,' was weak enough to suggest that the Federal Reserve will either delay its plans to taper its bond-buying program, or reduce the program even more gradually than previously thought, said William Lynch, director of investment at Hinsdale Associates.

'I don't think the economy, as sluggish as it is, can take too much in the way of tapering,' Lynch said.

Investors are also skittish over the Obama administration's efforts to launch a military strike on Syria in response to Syria's purported use of chemical weapons.

Crude oil prices Friday pushed to a 28-month high of $US110.53 in New York amid US-Russian tensions over Syria. But equity markets have reacted inconsistently to Syria news, sometimes dropping in recent weeks on Syria headlines, and sometimes not.

'Of all the risks out there, the one that has the highest probability to hurt the market in the near term is the Middle East situation,' said Scott Wren, senior equity strategist at Wells Fargo Advisors.

'The market's not as focused on it as I think it probably ought to be.'

Congressional debate on Syria is expected to dominate next week's news. The economic calendar is relatively light, with August retail sales and inflation data due on Friday.

The calendar also includes a September 12 meeting with Securities and Exchange Commission Chair Mary Jo White and leading exchanges in the wake of the August 22 outage at Nasdaq Stock Market caused by a tech glitch.

Anthony Conroy, a trader at BNY Convergex Group, predicted the market would trade in a 'tight range until we get more clarity on the Fed and more clarity on Syria.'

source: bigpondnews.com

Unsecured Business Loans Offer Easy Way To Success For Businesses

Every person dreams of owning a business at some point of time. But, often times that dream remains a dream for many due to shortage of funds. Running and controlling a business is really a lengthy and tedious process which calls for lots of time and effort. If you own a business and discontented from its present plight, then you’ve got to be search for a way to ensure that your business will get the preferred status.



Without a doubt, proper preparation and implementation of latest trends aren’t possible without appropriate financial support. For established businesses, implementing such changes isn’t that wearisome but for startups, the business owner is required to arrange for funds. For the fulfillment of business needs, unsecured business loans are considered to be the best choice available in the market.

Unsecured business loans offer versatility to businesses as these can be used for any business purpose. The total amount borrowed can either be employed for initiating a new business enterprise, expansion, renovation, purchasing and re-financing in order to restructure finances or to preserve working capital for the business.

The best thing about unsecured loans is that it doesn’t required borrowers to place any collateral or personal guarantee. Hence, there is no risk for borrowers of repossession of their property or valuable assets.

Due to unstable economy, banks along with other private lenders have to put interest on making any perilous decisions. If you’re a high-risk customer, you have to exercise something to be able to become unsecured lender acquiescent as it’s all dependent on your fund-capacity. If you can exhibit the lender that you operate a stable business with a strong business and private credit portfolio, you can successfully assure them of excellent financial standings to make a good impression around the unsecured business loan lender for approving quick financing.

Online loan application is the easiest approach to avail quick loans. Online lending is the easiest and straight forward approach which merely takes few minutes to fill and it offers funding within 24 hrs from the loan application submission. Any business can avail funds without any special documentation or requirements. Least efforts and documentation allows loan companies to approve your loan application and release funds immediately.

source: onlinecheck.com

Online Small Business Loan Is Your Key To Success

Cash flow is an essential ingredient for effective business operations. The feasibleness of sustaining a business gets worthless without the availability of sufficient funds. Due to strict economy conditions and rigid bank lending criteria, many business owners still have the perception that getting a business loan is almost impossible for them. But, there’s no such root behind such quite perception. You can easily apply for a small business loan today.


Getting benefit from a small business loan is a matter of few clicks. Now a small business can easily avail financing with online small business loans. Applying for a small business loan is not just easy but also time saving.

Online small business loans are of 2 sorts just like common small business loans. One is to assist those businesses that are in need of quick funds for expansion. And another sort is usually for start ups. Such loans covers all initial expenses that might incur to kick start a new venture.

Online small business loans are available in secured as well as unsecured form. The secured small business loans are secured on borrower’s collateral or personal guarantee. The borrowers can use any valuable assets as collateral collateral like, property, automobile, saving account as a security for secured loans. This way, borrowers can easily borrow big loan amounts for longer repayment terms and at lower interest rate. In case of unsecured small business loans, borrowers don’t have to pledge any collateral as security for the loan amount. However, borrowers can avail short loan amounts for shorter repayment terms and at higher interest rate.

Bad credit borrowers can also avail online small business loans. Those who suffer from CCJS, arrears, defaults, IVAs, late obligations, late payments and bankruptcy can make a small business loan application. Online small business loans serve numerous benefits to small business in many ways including:

• Borrowers can easily avail funding without facing any trouble.
• The lending is available 24/7, so you’ll be able to apply for small business loans anytime you want.
• Securing best loan deal is easier. By browsing through online websites of the small business loan lenders and comparing their terms and rates, you can secure the best loan deal as per your needs.
• The loan application process is far easier than traditional lending. No bulk of documentation is required. You just fill an online loan application and the amount will be transferred in to your bank account after approval.

Also before applying for a loan, checking own financial requirement and condition is necessary. Evaluate your financial requirements and then make a loan application. You must consider how much amount your business really needs and whether you can repay the amount borrowed? Reviewing such needs is compulsory before making a decision. Only a well-thought decision can get your business to the top.

source: onlinecheck.com

Jaguar Land Rover mulls manufacturing in India: report

MUMBAI, India — Jaguar Land Rover, the British luxury car unit owned by Tata Motors, is considering manufacturing vehicles from scratch in India, a report says.

Jaguar Land Rover (JLR) currently assembles some cars in India with parts shipped from Britain. Manufacturing the whole car in India would make it cheaper, as it would save on government import taxes and labour costs.

“Like Brazil, India is one of the possibilities for Jaguar Land Rover to fully manufacture cars,” a person close to the development told The Wall Street Journal on Sunday.

However, he cautioned the process was at a “very preliminary stage”.

Tata Motors officials were unavailable for comment.

JLR assembles two of its vehicles at its west India plant using kits, engines and gearboxes imported from Britain.

Sales of Jaguar and Land Rover models have been key growth drivers for Tata Motors, part of the sprawling salt-to-steel Tata Group, in recent quarters.

Indian car sales have slowed down in the last year due to high borrowing costs, costly fuel and rises in prices due to increased raw material costs.

Global auto makers such as Ford, General Motors and Nissan have invested millions of dollars in the past few years in India to use the country as a global manufacturing base, where demand for cars is higher than in the West.

Tata Motors bought Jaguar and Land Rover from Ford Motor Co in 2008 for $2.3 billion as part of plans to expand its reach beyond Asia.

The deal vaulted Tata Motors from a commercial vehicle and small-car maker into a global player with luxury brands in its range of offerings.

JLR reported record global sales of 357,773 vehicles in 2012, a 30 percent year-on-year rise, led by strong demand in China, Britain and the United States.

source: interaksyon.com

GM, Ally Seeking Big Pay Packages for CEOs in 2013

General Motors (GM) and its former finance company, Ally Financial, are again seeking large pay packages for their CEOs and other top executives though the companies have not fully repaid their taxpayer bailouts, according to documents obtained by FOX Business on Monday.

The companies are seeking approval for cash and stock compensation from the Treasury Department’s acting pay czar, Patricia Geoghegan, who is reviewing the proposals.

According to the documents, GM is requesting $11 million for CEO Daniel Akerson. Ally wants $9.6 million for its CEO, Michael Carpenter, as well as $8 million for the Thomas Marano, the CEO of its mortgage subsidiary, Rescap, which is currently in bankruptcy.

Pay packages for GM and Ally have been criticized by Christy Romero, the special inspector general of the TARP bailouts of banks and auto companies, as “excessive.” Her January report on the issue is here

Taxpayers have recovered only about half their $49.5 billion investment in  GM and a third from Ally, which got $17 billion.

Geoghegan has previously approved multimillion-dollar pay plans for top GM and Ally executives as necessary “to remain competitive” with the pay of top executives at other major companies and to assure taxpayers are repaid.

But she has said she has “limited excessive compensation” and has worked to shift more pay to stock rather than cash.

Geoghegan and Romero are scheduled to testify on executive pay at bailed-out companies before a House oversight subcommittee on Tuesday.

"As a general matter, the Office of Special Master does not comment on individual proposals,” a Treasury official said. “But I would note that just because a company makes a particular proposal does not mean it will ultimately be approved."

A spokesperson for GM declined to comment on its executive pay requests, but he added, “Overall, General Motors complies with all TARP restrictions and Special Master's decisions while we focus on driving solid business results for the company.”

A spokesperson for Ally echoed GM’s comments, saying that Ally’s executive compensation “is in line with all TARP restrictions and Special Master determinations.”

“Ally is focused on strengthening its leading auto services and direct banking franchises, while also executing on a number of transformative strategic actions that will best position the company to repay the remaining Treasury investment,” she added. She declined further comment.

source: foxbusiness.com

Fin’l Expertise Of Filipinos Improving, Latest Survey Of Citibank Reveals

Financial awareness as translated through savings, budgeting and retirement plans are more intrinsically woven into the daily lives of the average Filipino as finances and job security improves.

In its latest survey on the financial quotient or “Fin-Q” of local consumers, Citibank Philippines said that for the second year in a row, the tally of financially-driven and “money-wise” Filipinos remain on the high side and further noted record-high scores on budgeting, insurance and retirement plans.

Sustaining last year’s high mark, Filipino consumers scored a high of 53 out of 100 in the survey.

“The improved score was driven by increased awareness among respondents of the importance of planning personal finances, ownership of several financial products such as investments and insurance, and a general optimism on their financial future,” according to the American bank Citibank, considered the largest foreign bank in the Philippines. “More and more Filipinos now understand the value of budgeting and planning for their retirement, and claim building their savings has become a personal priority.”

Based on the latest survey results, 9 out 10 Filipinos are budgeting, planning and working around getting retirement plans as part of their long-term financial future and security.

“They create a budget on a monthly basis, and 65 percent acknowledged the importance of sticking to their budget,” said Citibank.

“In preparing for their future,” the bank concluded, “Filipinos seem to be right on track as well. In fact, it was a record year in terms of their confidence in their insurance coverage, with nearly 8 out of 10 saying they own insurance products or enjoy income protection.”

The survey noted especially that as far as preparing for a retirement plan, 63 percent of respondents said they are on track with their financial condition as far as savings are concerned.

“As they prepare for retirement, a total of 63% said they are on track with their retirement savings or had already started to set aside some savings for it.

The online survey, which started in 2007, covered the bank’s account holders and credit card holders. It included 80 basic questions on financial habits and know-how and a scoring of 11 different questions with 100 as being the maximum possible score.

The latest survey data was conducted in 2012 and culled 3,500 online respondents located in seven countries including the Philippines. Citibank said about 500 interviews were conducted in Australia, India, Indonesia, Korea, Singapore and Taiwan.

According to Citibank Country Officer Sanjiv Vohra, “when consumers are engaged in discussions on saving, budgeting and investing, it raises awareness on the importance of being able to make smart financial decisions for their future.”

As for the region-wide survey, Citibank said that consumers across Asia Pacific generally have scoring of above the 50-point market or an average of 53.2 points.

About 67 percent of those surveyed show optimism in their financial futures while 44 percent have started to build up their savings. A higher number of 63 percent are aware of their need to secure retirement plans while 57 percent already have insurance policies.

Last December, Citi hosted the regional conference Citi-FT Financial Education Summit in Manila.

source: mb.com.ph

BPO sector identifies 40 more potential host-locations to sustain growth

MANILA - The Philippines has identified another 40 locations that can support the growth momentum of the business process outsourcing (BPO) industry.

This is on top of the 10 so-called "next-wave cities" (NWC) that the Business Processing Association of the Philippines (BPAP) identified earlier.

Gillian Virata, BPAP senior executive director, said IT-BPO companies can also explore other potential locations such as Iligan, Zamboanga, General Santos, Leyte, Laoag, Bohol, Legazpi City, and other provinces in Central and Southern Luzon.

“There is so much more untapped potential in areas outside Metro Manila. The Next Wave Cities are part of the solution in terms of providing talent. They are central to expanding economic growth beyond Metro Manila, Metro Cebu and Metro Clark. IT-BPO can make a difference in the lives of the people and these opportunities just need to be made known and available to them,” Virata said.

The 10 next-wave cities are Davao, Sta. Rosa in Laguna, Bacolod, Iloilo, Metro Cavite (Bacoor, Imus, and Dasmariñas), Lipa in Batangas, Cagayan de Oro, Malolos in Bulacan, Baguio, and Dumaguete.

The BPAP and Department of Science and Technology-Information and Communications Technology Office (DOST-ICTO) identified the next wave cities using a scorecard, the data of which is updated every year.

The NWC Scorecard is a tool to measure the suitability of a location to host IT-BPO operations. Locations are assessed on the basis of availability of talent and relevant infrastructure, connectivity through fiber-optic or other telecommunications networks, accessibility, cost of related factor inputs, and the business environment, including vulnerability to natural disturbances and issues related to security and safety.

Included in the NWC Scorecard are 34 cities and municipalities assessed to be collective “metro” areas.

“The aim of the NWC program is to help ease the inflationary pressures brought about by concentration of recruitment and office space for IT-BPOs within Metro Manila,” Virata said.

He said talent is a key indicator for a location’s potential to become a credible IT-BPO hub. While Metro Manila produces the greatest number of university graduates, 75 percent or over 350,000 annual graduates come from schools outside Metro Manila. These numbers prompted industry stakeholders to take a second look at potential locations outside of Metro Manila and enhance their potential in attracting global clients and foreign investment.

 “The IT-BPO industry is aware that the next wave of growth must involve alternative locations,” Virata said.

In 2011, the Philippines’ IT-BPO industry generated more than $11 billion in revenue and employed almost 640,000. Under its roadmap, BPAP projects the industry to grow to $25 billion and employ 1.3 million by 2016.

source: interaksyon.com

Brazil auto sales up but output down in 2012

Sao Paulo — Auto sales in Brazil rose 4.9 percent in 2012 compared with the previous year but production fell 1.5 percent, the first decline in the past 10 years, industry data showed Friday.

“In general it was a positive year although we experienced many difficulties. The sector showed major growth, undoubtedly with lower profitability but with prospects of continued growth next year,” said Cledorvino Bellini, president of the National Association of Motor Vehicle Manufacturers (ANFAVEA).

He told a press conference that sales got a boost from measures adopted by the government to stimulate sluggish economic growth, including a reduction of taxes on industrialized goods.

Brazil boasts the world’s fourth largest car market after the United States, China and Japan.

Meanwhile the Central Bank has cut its inter-bank lending rates to boost growth and consumption in this country of 194 million.

ANFAVEA said 3.8 million units were sold this year, up from 3.6 million in 2011 while production was projected to fall from 3.4 million last year to 3.3 million in 2012.

Bellini explained the decline saying Brazil’s production is for both the domestic market, which rose, and for exports, which failed to expand.

source: interaksyon.com

Italian fund buys 37.5% stake in Aston Martin

ROME — Italian private equity fund Investindustrial has bought a 37.5-percent stake in British carmaker Aston Martin, the companies said in a joint statement on Friday.

“Investindustrial is investing 150 million pounds (186 million euros, $240 million) in Aston Martin in the form of a capital increase for a 37.5-percent stake,” the firms said.

The 99-year-old car-maker will get an injection of Italian expertise and much-needed resources to compete with luxury competitor giants such as the Fiat Ferrari.

There had been a bid from Indian jeep maker Mahindra & Mahindra for the stake in the British manufacturer, whose flashy vehicles feature regularly in James Bond movies.

Aston Martin said it would now proceed “with its extensive and exciting plans for sustainable long-term growth”.

The car-maker rose to fame thanks largely to its DB5 sportscar, a favourite of early Bond actor Sean Connery which returned to the limelight in Daniel Craig’s car chase through Italy in the 2008 “Quantum of Solace”.

The company said production would continue to take place in Gaydom in Britain, where 1,600 workers are based.

Andrea Bonomi, senior principal at Investindustrial, said: “We are delighted to form part of this iconic global, but quintessentially British brand.”

Sales at Aston Martin have been hit along with other small car-makers during the global economic slowdown and it had been looking for key funds for research and development.

Aston Martin said it intended to invest “more than half a billion pounds in its new product and technology programme over the next five years.”

The car-maker is owned by Kuwait-based finance firm Investment Dar, which bought it from Ford Motors for $767 million in 2007.

Investindustrial, owned by Italy’s Bonomi family, used to own Italian motorcycle maker Ducati.

source: interaksyon.com

Facebook interested in buying mobile chat app WhatsApp?

WhatsApp, the maker of a popular cross-platform mobile chat program, has been in talks to be acquired by Facebook, sources tell TechCrunch.

TechCrunch had no information about a possible price range or how advanced the talks might be. CNET has contacted Facebook and WhatsApp for comment and will update this report when we learn more.

Founded in 2009, the Santa Clara, Calif.-based company provides a smartphone app for Android, BlackBerry, iOS, Symbian, and Windows Phone that delivers text messages as well as images and audio and video messages. The ad-free app reportedly has about 100 million daily users, with a presence in 250 countries on a variety of platforms.

The startup announced in October 2011 that it was serving up 1 billion messages per day: "Just how much is 1 billion messages? That is 41,666,667 messages an hour, 694,444 messages a minute, and 11,574 messages a second," the company wrote in a blog post at the time. The company added that it was a "small step closer towards our goal: providing a great mobile messaging system for a global market, regardless of your handset."

The WhatsApp Messenger app came under criticism recently from security and mobile researchers who alleged security risks based on its authentication process. Several anonymous bloggers called the process a "security nightmare," saying the app leaked data collected off the device when it's being sent to servers. A research paper also concluded that the local database storage encryption could be decrypted.

source:  news.cnet.com

BMW sees room for more growth in China’s luxury car market

BEIJING — German carmaker BMW sees continued double-digit sales gains in China next year as the luxury car market there, at 9-10 percent of overall sales, still lags the developed world, where the luxury segment accounts for 15 percent of the total.

The German firm, which is building a second plant in northeast China to initially double its capacity to 200,000 vehicles, later rising to 300,000, expects to sell 1 million cars in China over the next three years, Duan Jianjun, deputy sales chief at BMW’s venture with the state-owned parent of Hong Kong-listed Brilliance China Automotive Holdings, told Internet portal Sohu.com at the Guangzhou auto show.

China’s luxury car market has lost some of its steam after years of break-neck growth, though demand for high-end cars remains robust as personal wealth grows.

“We have sold 1 million cars in China so far. We will strive to sell another million in the next three years,” Duan said.

BMW’s China car sales grew 35 percent in January-October from a year earlier, five times the growth rate of the overall market, and topping Audi’s 31.2 percent and Mercedes-Benz’s 8 percent growth.

Daniel Kirchert, senior vice president at BMW’s China venture, told Sohu.com separately that the venture was preparing to launch a China-only car. He did not elaborate. BMW and Brilliance plan to produce 200,000 4-cylinder, 2-litre petrol engines a year at an engine plant in Shenyang.

source: interaksyon.com

US economy may avoid direct hit from 'Sandy'

WASHINGTON/NEW YORK - Hurricane Sandy is shaping up to be one of the biggest storms ever to hit the United States but even with the severe damage that is expected, the blow to the economy is seen as short-term.

Economists say some of the impact caused by businesses closing will be offset by reconstruction efforts, and point to catastrophic storms like Katrina, which devastated New Orleans but did not deal lasting damage to the national economy.

Still, Sandy's sheer breadth - 10 states have declared a state of emergency - means it could hurt this quarter's economic output, even if the long-term impact ultimately proves neutral.

Gross domestic product in the region between New York and Washington amounts to some $2.5 trillion, so every day the region's economy is halted amounts to about $10 billion in lost output, said Mark Zandi, chief economist at Moody's Analytics.

Peter Morici at the University of Maryland estimates that Sandy will cause about $35 billion to $45 billion in losses and damages but then be followed by as much as $36 billion in recovery spending.

Damage caused by last year's Hurricane Irene totaled as much as $20 billion, he said.

Predicting the impact of Sandy is made all the harder by complexity of the rare, hybrid "super storm" involving other weather systems that could get trapped over the Northeastern United States and amplify inland flooding.

"The range of possible scenarios for Hurricane Sandy remains enormous. There are examples of natural disasters ultimately exacting only minimal toll - Irene - and others having an outsized impact, such as Hurricane Katrina when the (New Orleans) levees broke," said Eric Lascelles, chief economist RBC Global Asset Management Inc. "Really, it is a game of probabilities."

Disaster modeling company Eqecat forecast economic losses caused by Sandy at $10 billion to $20 billion.

The toll from Katrina in 2005 exceeded $100 billion by most accounts. U.S. economic growth slowed in the quarter after the devastation inflicted on New Orleans but bounced back quickly.

The U.S. economy grew 2 percent in the third quarter of 2012, picking up from earlier in the year but still a weak number, as consumer spending helped to offset a worrisome pullback in business investment. Many analysts were already concerned that retail sales could suffer later this year.

Retailers bear a significant brunt of any storm's economic impact as shoppers stay at home. But the last-minute scramble for supplies and emergency goods has a moderating effect on the overall sales declines.

Still, Evan Gold, a senior vice-president at Planalytics, a Philadelphia consulting firm that advises businesses on weather-related matters, was less optimistic about seeing any upside, particularly with Sandy hitting so close to the holiday season.

"If consumers in this part of the country are spending hundreds, if not thousands, of dollars to buy things like generators, or after the storm, to do clean-up, that is likely going to cut into budgets that people might have for their holiday shopping," said Gold.

FORECASTERS CHANNEL METEOROLOGISTS

One thing economists do agree on is that data releases in coming weeks will be even harder than usual to forecast. For instance, the impact of Sandy is likely to skew figures on weekly jobless benefit applications and chain store sales.

"The monthly economic data will become more volatile - October retail sales, vehicle sales, and industrial production will be hurt, but they will bounce back in November and December," Zandi said.

"Restaurants will be hurt, but grocery stores will benefit; general merchandise stores will lose business, but online retailing should get a boost, he added. "Of course, if the storm knocks out major infrastructure like refineries, cell towers, trains, sea and airports, then the economic damage will be more severe and difficult to recover from."

The hurricane has the potential to cause some of the largest losses the global insurance industry has faced this year, but nothing that would strain insurers financially aside from hurting earnings this quarter, according to analysts.

Sandy may also add to the financial headaches for already cash-strapped local governments which will probably have to spend millions of dollars to protect citizens and fix damage from high winds and floods.

But over the long run, they are likely to be able to cope with the extra burden which will be offset by federal aid and rainy-day funds, analysts said.

"Sometimes there are liquidity issues in the beginning but generally, these things have no long-term effects on finances," said Amy Laskey, managing director at Fitch Ratings. "Sometimes the added spending is a positive for local economies."

source: abs-cbnnews.com