Rolls-Royce car sales hit new record
Rolls-Royce Motor Cars has reported a 31% rise in sales during 2011 to 3,538 cars.
The growth rate was weaker than that seen last year, when sales rose 150%.
The year's sales nevertheless marked a fresh record for the BMW luxury marque.
Rolls-Royce's £165,000 Ghost model, which is smaller and less ostentatious than the £235,000 Phantom models, has been the main driving force behind the company's sales growth.
"We had an outstanding year in 2011 and we should take a moment to reflect on this Great British success story," said chief executive Torsten Muller-Otvos.
Rolls-Royce's strong performance last year was more than matched by rival ultra-luxury car company Bentley, which sold 7,003 cars during 2011, marking a 37% rise that returned it to pre-recession levels.
Further expansion
Rolls-Royce said last year's sales were the highest in the marque's 107-year history, beating the previous record set in 1978 when 3,347 Rolls-Royce models were sold.
At the time, the Bentley and Rolls-Royce marques were both parts of the same company.
The two brands went separate ways a decade ago, when the German automotive giant Volkswagen Group took over the Crewe factory in Cheshire, where Bentleys are still being produced.
BMW acquired the right to use the Rolls-Royce brand and built a brand new factory on the edge of the Earl of March's Goodwood estate in West Sussex where it started manufacturing new models.
That factory has been expanded in line with a broadening of the model line-up, which currently includes four Phantom models and one Ghost model.
The expansion is set to continue as the product range is developed further, Mr Muller-Otvos said.
Industry insiders predict that a convertible Ghost could hit the road in a couple of years.
Global markets
The market for Rolls-Royce models grew particularly fast in Germany and Russia, where sales more than doubled last year.
Sales in the Asia Pacific region rose 47%. In the UK they were up 30%, while in the Middle East they rose 23%.
The US and Chinese markets are the most important ones for the company, though it has not released detailed figures about how many cars it sold in individual markets.
Looking ahead, the carmaker will further develop its global network of dealerships, and will enter new markets in South America, Mr Muller-Otvos said.
Hong Kong Airlines places $3.8bn Airbus A380 order
Hong Kong Airlines (HKA) has placed an order for 10 Airbus A380 aircraft worth about $3.8bn (£2.5bn) at list prices.
The contract will be a relief for the European planemaker, as the order risked being derailed by a dispute between the European Union and China.
Beijing opposes an EU plan that international airlines comply with a scheme to tackle carbon emissions.
But Kenneth Thong, HKA's corporate governance head, told a television interview the order would go ahead.
The carrier, which has ambitious expansion plans, is likely to have got a big discount on the order for the super-jumbo aircraft.
Mr Thong said the aircraft were needed to help boost the airline's growth, particularly in the development of business class services with Europe.
HKA has previously ordered Airbus A330s, which will be used for services between Hong Kong and several European cities.
Mr Thong told Bloomberg television in Hong Kong: "We think the business connection between Asia and Europe is going to be very exciting for the next couple of years, after the current (economic) crisis is over. We are planning for the aftermath."
It had been expected that HKA would announce a large A380 order last year.
But the Financial Times newspaper reported that this was held up over the China's opposition to the EU's carbon emissions trading scheme, which would involve airlines paying additional costs.
The US also has concerns about the scheme.
The contract will take Airbus's order backlog to 188. Airbus reportedly declined to comment ahead of a formal announcement of the contract on 17 January.
Japan Airlines plans to relist shares in Tokyo
Japan Airlines (JAL) is planning to relist its shares on the Tokyo Stock Exchange as the next step in its recovery from bankruptcy.
The company may sell between 500bn yen ($6.5bn, £4.2bn) and 1tn yen of shares, reports have claimed.
Should the sale go ahead, it would turn JAL into one of the world's biggest listed airlines.
The sale would come as JAL faces a number of issues, such as weaker global demand and more domestic competition.
Restructuring operations
JAL filed for bankruptcy in January 2010 with more than $25bn (£16.1bn) of debt and was granted a government-backed bailout.
After de-listing from the stock market, it cut about a third of its workforce, and trimmed employee benefits and routes. It came out of bankruptcy last year.
"When JAL went into bankruptcy, they were able to re-negotiate their agreements with the union, which helped to re-structure its costs," said Leithen Francis of Aviation Week.
The share sale, which could end up being the biggest in Japan since Dai-Ichi Life Insurance listed in 2010, would help the government recoup its investment.
A JAL spokesman declined to comment on the size of the share sale, but said that Nomura and Daiwa Securities had been hired to lead the listing.
Tough market?
However, JAL's future success is far from guaranteed with the company facing increasing competition in its domestic market.
JAL recently announced that it was entering the low-cost market by establishing Jetstar Japan with Australian carrier Qantas and industrial and finance group Mitsubishi.
This puts it up against rivals including AirAsia Japan, a venture between All Nippon Airways and Malaysia-based AirAsia, the region's largest budget carrier.
Another competitor is Skymark Airlines, Japan's biggest low-cost carrier.
Despite the more crowded market, JAL has done a lot to shore up its finances. In the 2010 financial year, JAL posted a record operating profit of 188.4bn yen.
Bad timing?
However, despite the restructuring, some analysts have questioned the size of the planned share sale, warning that global market uncertainty may put off some investors.
They said the timing of the IPO was not ideal, not least due to the prolonged European debt crisis and a global economic slowdown.
There have been fears that an uncertain economic environment will dent demand for travel, hurting profits at airline companies.
Other airlines, including the Indonesian subsidiary of AirAsia, have deferred IPO plans due to the uncertain global outlook.
"In general, companies are wary of having an IPO in the current economic climate," said Siva Govindasamy of FlightGlobal Group.
"It just seems like a difficult time to go into the market, but then again, JAL is a company that appears on track to be leaner and more profitable," he added.
Third ratings agency gives Hungary a junk credit rating
Fitch has become the third ratings agency to cut Hungary's credit rating to junk status.
The agency blamed "unorthodox policies" for its decision to cut the country's rating from BBB- to BB+.
Hungary's centre-right government has been accused of undermining the central bank's independence and imposing losses on the country's foreign-owned banks.
The country is attempting to resolve a stand-off with the International Monetary Fund over a new loan facility.
One of the biggest challenges facing the country is the large amount of foreign-currency mortgages, particularly those denominated in Swiss francs, which have been taken out by home-buyers in recent years.
Hungarians were attracted by the cheap interest rates available, but face impossible debt repayments as the Hungarian forint loses value.
"The downgrade of Hungary's ratings reflects further deterioration in the country's fiscal and external financing environment and growth outlook, caused in part by further unorthodox economic policies, which are undermining investor confidence and complicating the agreement of a new IMF/EU deal," said Matteo Napolitano of Fitch's sovereign ratings division.
The Hungarian government has sought to agree a standby facility with the IMF, but talks broke down over a new law that strengthened the government's control of the Hungarian central bank's governing board.
Fitch follows Moody's and Standard & Poor's, which also cut their ratings for Hungary to junk levels in recent weeks.
Malaysian Court Acquits Anwar of Sodomy
Malaysia's high court has acquitted opposition leader Anwar Ibrahim of charges of sodomy.
The judge ruled Monday that the DNA used by prosecutors as evidence was unreliable. The judge also said there was not enough corroborating evidence proving that Anwar had sex with a former male aide.
Homosexuality is illegal in Muslim-majority Malaysia. If he had been convicted, Anwar could have faced 20 years in prison.
Anwar is a former deputy prime minister who was forced to resign in 1998 after his conviction on an earlier sodomy charge. The Supreme Court later threw out that verdict.
Anwar has denied all the sodomy charges, saying his chief political rival, Prime Minister Najib Razak, concocted them. The prime minister denies the allegation.
Anwar is considered to be a leading opposition candidate in this year's general elections.
Republican debate: Mitt Romney under fire
US Republican front-runner Mitt Romney has come under fire from fellow contenders ahead of Tuesday's primary vote in the state of New Hampshire.
At a nationally televised debate on Sunday, the former Massachusetts governor's economic programme was called "timid" and his conservative credentials were also questioned.
Mr Romney has a lead over his rivals since his narrow win in Iowa last week.
The winner will challenge President Barack Obama in November's election.
Six candidates remain in the race for the Republican nomination.
Primaries and caucuses will take place in every US state over the next few months before the eventual Republican candidate is crowned at the party convention in August.
But votes in New Hampshire, South Carolina and Florida this month could well shape the race for the nomination.
'Pious baloney'
Sunday's debate was the second in less than 24 hours. It was co-hosted by NBC's Meet the Press, the New Hampshire Union Leader and Facebook - with questions being sent over the social networking site.
Former House of Representatives speaker Newt Gingrich accused Mr Romney of "pious baloney" for saying he was not a career politician.
"Just level with the American people," Mr Gingrich urged him.
To which Mr Romney quipped: "Politics is not my career. My life's passion has been my family, my faith, my country."
Mr Gingrich described Mr Romney as a "relatively timid Massachusetts moderate" - adding, "I think he'll have a very hard time getting elected."
But Mr Romney replied: "I'm very proud of my record and I think the one thing you can't fool the people of New Hampshire about is the record of a governor next door."
Rick Santorum, the former Pennsylvania senator who lost the Iowa caucus by just eight votes, questioned why Mr Romney had not sought a second term as Massachussetts governor.
"Why did you bail out? And the bottom line is, I go fight the fight," Mr Santorum said.
Mr Romney adopted the same tactic as during Saturday's debate, largely refraining from making digs at his opponents - though he pointed to Jon Huntsman's period as ambassador to China under Mr Obama.
Mr Hunstsman replied on Sunday: "I was criticised last night by Governor Romney for putting my country first. He criticised me while he was out raising money. I want to be very clear. I will always put my country first."
Mr Romney's three main rivals - Mr Santorum, Mr Gingrich and Texas congressman Ron Paul - attacked each other again.
Mr Santorum said Mr Paul had "never really passed anything of any importance".
"One of the reasons people like Congressman Paul is his economic plan. He's never been able to accomplish any of that, has no track record of being able to work together. He's been out there on the margins and has really been unsuccessful in working together with anybody to do anything."
And when asked about President Obama's patriotic credentials, Rick Perry said: "We have a president that's a socialist. I don't think our founding fathers wanted to make our country as socialist country."
South Korean President to Visit China
South Korean President Lee Myung-bak arrives in Beijing Monday for an official visit that will focus on the North Korean leadership transition following the death last month of longtime President Kim Jong-Il.
During his three-day stay, Mr. Lee is due to meet with his Chinese counterpart, Hu Jintao, Premier Wen Jiabo, and other high-ranking officials.
In a statement Sunday, Mr. Lee's office said “the two presidents are to discuss ways to further develop a bilateral strategic partnership and cooperative measures for peace and stability on the Korean peninsula.” They will also exchange views on Asian and global issues.
Both countries are closely watching the situation in North Korea amid fears that a power struggle could destabilize the nuclear-armed country.
Little is known about Kim's chosen successor, his son Kim Jong-un, who was made a four star general last year.
Kim Jong-un had accompanied his father on several trips across North Korea recently and has reportedly involved himself in the country's foreign and domestic policy.
Ahmadinejad Begins Visit to Latin America
Iranian President Mahmoud Ahmadinejad has started a five-day Latin American tour that U.S. officials have called a sign of desperation for the country heavily sanctioned over its controversial nuclear program.
Mr. Ahmadinejad arrived Sunday evening in Venezuela, and was met at the airport by that country's Vice President Elias Juau. He smiled and waved to the crowd, but did not make any remarks before driving away. He is scheduled to meet Monday with his longtime ally, Venezuela's President Hugo Chavez.
The Iranian president also will make stops in Nicaragua, Cuba and Ecuador.
In recent years, the Iranian president has courted leftist, populist and anti-American Latin American leaders, particularly Venezuelan President Hugo Chavez, much to Washington's dismay.
On Friday, U.S. officials urged Latin American countries not to deepen their ties with Iran. A State Department spokeswoman accused the Iranian government of being “desperate for friends” and of,what she called “flailing around” to find new allies.
While on his trip, Mr. Ahmadinejad also will attend the inauguration of Nicaraguan President Daniel Ortega.
The United States is expelling a Venezuelan diplomat amid reports that she discussed possible cyber-attacks on U.S. soil while she was stationed at her country's embassy in Mexico.
The State Department said Sunday it had declared Livia Acosta Noguera persona non grata and given her until Tuesday to leave the country.
There was no immediate reaction from the Venezuelan government.
Protests, Repression to Continue in Middle East in 2012
The international human rights group Amnesty International has warned of another year of protests and government repression in the Middle East and North Africa, if the region's rulers do not ensure democratic and human rights for their people.
In a report released in London Monday, the group described how governments across the region were willing in 2011 to deploy extreme violence in an attempt to resist unprecedented calls for fundamental reform. But it said the protest movements have “shown that they will not be fooled by reforms that make little difference.”
Mass uprisings sparked by the self-immolation of a Tunisian vegetable vendor that swept the Arab world last year led to the downfall of presidents Zine el-Abidine Ben Ali in Tunisia, Hosni Mubarak in Egypt and Libya's Moammar Gadhafi. Amnesty called on those countries to make sure the past abuses are not repeated.
The report highlighted the policies of governments elsewhere, notably in Syria, that remained “grimly determined” to cling to power “at any cost in human lives and dignity.”
Amnesty said international and regional bodies such as the African Union, Arab League and EU have been “inconsistent” in their response, and have “failed to grasp the depth of the challenge.”
Despite this, Amnesty said, the refusal of ordinary people “to be deterred from their struggle for dignity and justice is what gives us hope for 2012.”
Fraudster donor Michael Brown held in Caribbean
A fraudster and Lib Dem donor who went on the run has been arrested in the Dominican Republic, police have said.
Michael Brown was sentenced in his absence to seven years in jail in 2008 for stealing £36m from clients including nearly £8m from Manchester United's ex-chairman Martin Edwards.
He posed as a bond dealer and claimed royal connections to steal the money, Southwark Crown Court heard.
Brown gave some £2.4m to the Lib Dems ahead of the 2005 general election.
City of London Police said they were "pleased" to hear he had been detained and were establishing contact with authorities in the Caribbean country, which has no extradition treaty with Britain.
'Buffer zone'
"Clearly, at some stage we will look for his return to the United Kingdom, so he can serve the sentence for the fraud offences for which he has been convicted in this country," a spokesman said.
The British Foreign Office said it was aware of the reports of his arrest.
Brown used investors' money to fund the money he gave to the Lib Dems' election war chest - its largest ever donation.
Charles Kennedy, who was leader at the time it was made, said in September his party went the "extra mile" to check Brown out before accepting his money.
"We were very careful, we always were in the Lib Dems, to keep a distance, a buffer zone, over donations," he said.
The Electoral Commission ruled in 2009 the party could keep the money.
A Lib Dem spokesman said: "The Electoral Commission inquiry in 2009 found that the party accepted the donation in good faith, and were in no way at fault.
"It cleared the party of all wrongdoing and accepted that at the time of the donation, Michael Brown was a permitted donor.
"There is no indication that the Electoral Commission will revise its opinion in this matter but any arrest abroad should lead to his extradition to the UK."