In brief: NTR plc announces new CEO of group
APPOINTMENT: NTR plc, the international renewable energy group, has announced that Michael McNicholas has been appointed chief executive officer of the group. This follows his appointment as deputy chief executive officer in February 2011. He has over 25 years' experience in the Irish and international energy industry and was previously a managing director of ESB International.
Schaeuble: Greece will need more aid
German Finance Minister Wolfgang Schaeuble said Greece will need new aid in a second package, with "quantified and substantial" participation from bondholders, according to a June 6 letter to ECB president Jean-Claude Trichet, the IMF and EU finance ministers.
Credit cards down but borrowing up
Americans borrowed more money in April for the seventh straight month, but they cut back on using their credit cards. The Federal Reserve said consumer borrowing rose by nearly $7.2bn, fuelled by greater demand for school and auto loans. A category that measures credit card use fell for the second time in three months. It has risen only twice since August 2008, the height of the financial crisis.
Oil prices rise amid supply speculation
Oil edged higher in New York and surged the most in almost two weeks in London amid speculation that an increase in OPEC production quotas will reduce spare capacity and cause tight supplies when demand rebounds. New York futures rose 8 cents, rebounding in the last 90 seconds of trading. Brent gained more than $2 a barrel.
Demand for small cars boosts sales
Ford Motor Co. said growth in Asia and increasing demand for small cars will boost global sales 50pc to eight million vehicles annually by 2015 as the automaker switches gears from restructuring to expansion. "Growth is a new skill to learn for us," Chief Financial Officer Lewis Booth said yesterday.