Business and City Summary

EU threatens car recovery

Geoffrey Whalen, president of the Society of Motor Manufacturers and Traders, said European Union demands for stricter car emission standards were threatening recovery in the motor industry.

Speaking on the eve of the Geneva Motor Show, Mr Whalen said more stringent regulations were unrealistic and could not be met by 1996, the date laid down by the Environment Committee of the European Parliament.

Strong issues

New issue activity remained strong in February, a Stock Exchange report says. Twenty-five UK and Irish companies were listed for the first time, raising pounds 1.5bn. Nineteen of these had a market value of less than pounds 100m.

Banking worries

More demanding customers and growing competition are likely to force a shake-out among UK and other European private banks in the next few years, according to a Price Waterhouse study out today. A quarter of the 52 private banks questioned said competition was their greatest concern, compared with 23 per cent citing legal constraints and just 5 per cent worried about recession.

Borrowers on the rise

Consumers are taking on more longer-term borrowing, a report today by the Finance & Leasing Association says. Consumer credit in January rose by 37 per cent to pounds 1.18m year-on-year, suggesting that April's planned tax rises have not dented confidence. Consumers borrowed 57 per cent more, pounds 504m, to buy cars than a year ago. Personal loans rose by 42 per cent to pounds 180m.

TODAY 7.3.94

Interims: Close Bros, Cornwell Parker, Domestic and General, Hays, Lloyds Chemists, Perpetual Japanese Inv Trust, Pict Petroleum, Waterglade Int.

Finals: BBA, Badgerline, British Polythene Inds, British Vita, Candover Invs, Hartons, IMI, Intrum Justitia, Parkdean Leisure, Perkins Foods, USDC Inv Trust.

Economic statistics: consumer credit (Jan).

TOMORROW 8.3.94

Interims: HTR Japanese Smaller Cos, MR Data Management, Polypipe, Thorntons.

Finals: Brent Int, Burnfield, De Beers Consolidated Mines, Expamet Int, Fisons, Gartmore, Gibbs & Dandy, Instem Kerry Gp, Laporte, Pegasus, Plantsbrook, Robinson Bros, Sumit, Sunleigh, Suter, WPP, Wates City of London Props.

Economic statistics: Manufacturing output and industrial prod (Jan).

WEDNESDAY 9.3.94

Interims: British Bio-Technology, Dartmoor Inv Trust, Logica, NM Smaller Australian Cos Trust.

Finals: BAT Industries, BICC Bluebird Toys, Cadbury Schweppes, Exeter Pfd Cap Inv Trust, Foreign & Colonial Inv Trust, Glynwed Int, Harrington Kilbride, Holliday Chemical, Independent Newspapers, Jessups, Kleinwort Smaller Cos Inv, M&G Income Inv Trust, M&G Recovery Inv Trust, Metal Bulletin, Microvitec, Portals, RTZ, Relyon, Select Appointments, Singer & Friedlander, Standard Chartered, T&N, Transport Development.

THURSDAY 10.3.94

Interims: BM, BZW Endowment Fund, Mucklow (A&J).

Finals: BTR Barclays, Christies Int, Clarke (T), Cussins Property, Enterprise Oil, Ferry Pickering, Fife Indmar, Hillsdown Hldgs, Jacobs (JI), Kode Int, MTL Instruments, Manders, Pentland, Rolls-Royce, Sheffield Insulations, Singapore Para Rubber Estates, Smith & Nephew, Speak (JW), TI Gp, Telemetrix, Victaulic.

FRIDAY 11.3.94

Interims: Headway, Walker (Thomas).

Finals: Abbott Mead Vickers, Abtrust Lloyds Ins Trust, Alliance Trust, Forward Technology, Radius, Takare, Vivat.

Economic statistics: December visible trade.