Aston Martin targets return to profitability in 2018

Aston Martin CEO Andy Palmer peers down the lines of a display model of a AM-RB 001 ahead of the 2017 Canadian International Autoshow. (Reuters)Aston Martin CEO Andy Palmer peers down the lines of a display model of a AM-RB 001 ahead of the 2017 Canadian… Read More
TORONTO: Aston MartinHoldings Ltd expects a return to profitability in 2018, as the now money-losing luxury automaker plans to boost revenues with renewed versions of its sports cars, chief executive Andy Palmer said on Wednesday.

The British automaker, whose sports cars were popularized by James Bond films, is investing heavily to update existing models and develop several new vehicles through the end of 2019, including its first SUV, and the 2 million pound ($2.5 million) to 3 million pound ($3.7 million) Formula 1-inspired AM-RB 001, the most expensive new car ever built by Aston Martin.

“You’ve got a complete renewal during the course of 2018 of the sports cars,” Palmer told Reuters on the sidelines of the Canadian International Auto Show in Toronto.

Unlike other luxury sports car brands, which are part of mass-volume auto groups and can benefit from economies of scale,

Aston Martin remains independent, Palmer said.

“We have to amortize the R&D (costs) on a small volume,” he said. “That’s what justifies the car being expensive.”

The carbon fiber AM-RB 001, which is being developed with Red Bull Advanced Technologies for expected delivery in 2019, is using Canadian composite specialist Multimatic as a supplier, Palmer said. All 150 cars have been sold, with another 25 to be manufactured as a separate variant for the track.

Palmer said one of Aston Martin’s highest volume models will be its DBX SUV, which when delivered in late 2019 would compete with the Bentayga produced by Bentley Motors Ltd, a division of the Volkswagen Auto Group.

Pickups and SUVs accounted for 59.5 per cent of U.S. auto sales in 2016, up from 55.8 per cent in 2015, and North American appetite has prompted luxury makers such as Rolls Royce and Lamborghini to come out with new SUV models.

Palmer said Aston Martin expects to build between 4,000 to 5,000 SUVs a year.

“We don’t want to go to big volume,” he said. “It’s basically high price, low volume, exclusivity.”

Aston Martin, which is to publish its 2016 financial figures at the end of February, is held by Kuwait’s Tejara and Italy’s Investindustrial. The private equity firms hold an equal voting stake, he said.

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Daimler has a 5 per cent stake in Aston Martin in return for access to certain technologies for connected and autonomous cars

source”cnbc”

IITs to come under Single Engineering Entrance Exam from 2018

The ministry has decided to conduct single engineering entrance test every year and it will be designed in a way that the linguistic diversity of the country is taken into consideration

IITs to come under Single Engineering Entrance Exam

IITs to come under Single Engineering Entrance Exam

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  • Shahnaz Husain’s detailed interview makes its way into Harvard University curriculum
  • 10,285 vacancies for teachers in Kendriya Vidyalayas: Prakash Javadekar
  • CBSE: Three language subjects may become compulsory for Class 10 boards by 2020
  • Roll back age criteria for NEET 2017: Petition filed in apex court

On the lines of NEET-examination, a single engineering entrance examinations will be conducted for admission into engineering colleges from the academic year 2018-19.

It is learnt that the coveted IITs, for which a nationwide competitive examinations are held, may also be brought in under the ambit of the new test.

HRD sets stage for one engineering entrance exam:

The HRD ministry has recently asked the All India Council for Technical Education (AICTE) to explain and mention suitable norms for holding such an exercise.

The HRD ministry has told the AICTE that the proposal is in line with the government’s policy and it could incorporate suitable regulations to enable the holding of such a test, sources said.

The AICTE, oversees the aspects related to technical education in the country, had discussed at a recent meeting proposal for having a single entrance test for engineering colleges for undergraduate courses

Single Engineering Entrance Exam to be conducted multiple times every year:

The ministry has taken this decision to bring in greater transparency, maintain higher standards and also try to ensure that students are saved from the burden of taking too many tests, the sources said. The ministry is also in favour of seeking constructive suggestions from states and Deemed Universities for the successful holding of such a test, they added.

It has also been decided that the single entrance test would be conducted multiple times every year and it will be designed in a way that the linguistic diversity of the country is taken into consideration, the sources said.

A common NEET exam for admission to medical colleges already exists, but there are a number of exams for entrance into engineering colleges.

source”cnbc”

IITs to come under Single Engineering Entrance Exam from 2018

The ministry has decided to conduct single engineering entrance test every year and it will be designed in a way that the linguistic diversity of the country is taken into consideration

IITs to come under Single Engineering Entrance Exam

IITs to come under Single Engineering Entrance Exam

  • Bihar plus two exams 2017: Bar coding to be used in answer sheets
  • Shahnaz Husain’s detailed interview makes its way into Harvard University curriculum
  • 10,285 vacancies for teachers in Kendriya Vidyalayas: Prakash Javadekar
  • CBSE: Three language subjects may become compulsory for Class 10 boards by 2020
  • Roll back age criteria for NEET 2017: Petition filed in apex court

On the lines of NEET-examination, a single engineering entrance examinations will be conducted for admission into engineering colleges from the academic year 2018-19.

It is learnt that the coveted IITs, for which a nationwide competitive examinations are held, may also be brought in under the ambit of the new test.

HRD sets stage for one engineering entrance exam:

The HRD ministry has recently asked the All India Council for Technical Education (AICTE) to explain and mention suitable norms for holding such an exercise.

The HRD ministry has told the AICTE that the proposal is in line with the government’s policy and it could incorporate suitable regulations to enable the holding of such a test, sources said.

The AICTE, oversees the aspects related to technical education in the country, had discussed at a recent meeting proposal for having a single entrance test for engineering colleges for undergraduate courses

Single Engineering Entrance Exam to be conducted multiple times every year:

The ministry has taken this decision to bring in greater transparency, maintain higher standards and also try to ensure that students are saved from the burden of taking too many tests, the sources said. The ministry is also in favour of seeking constructive suggestions from states and Deemed Universities for the successful holding of such a test, they added.

It has also been decided that the single entrance test would be conducted multiple times every year and it will be designed in a way that the linguistic diversity of the country is taken into consideration, the sources said.

A common NEET exam for admission to medical colleges already exists, but there are a number of exams for entrance into engineering colleges.

source”cnbc”

CBSE Class 10 board exams are compulsory again from 2018

CBSE Class 10 board exams are compulsory again from 2018

CBSE to reintroduce compulsory Class 10 board examination from 2018.

CBSE Class 10 board exams are compulsory again from 2018

CBSE Class 10 board exams are compulsory again from 2018

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The long awaited decision on return of Class 10 board examination has finally arrived.

During the informal conversation with media, the government finally gave nod to reintroduce compulsory Class 10 board examination from the academic session 2017-18.

Union HRD minister Prakash Javadekar after meeting the Rajasthan Education Minister, informed about the decision to re-introduce board examination.

Why are Class 10 board exams important?

Scrapping the exam affected academic standards as it let off students with far less academic growth than before.

Announcement on Class 5 and Class 8 board examinations:

  • Meanwhile, Javadekar also said that the state governments will be given full freedom to reintroduce Class 5 and 8 board examinations
  • For this, a proposal will be tabled in the cabinet and then in Parliament
  • “The decision to conduct Class 5 and 8 board examinations will be left with the state,” Javadekar added

Furthermore, the HRD minister said the main focal point ofthe ministry is to improving the quality of school education, specifically in government schools, he said.

Education status in Rajasthan:

  • While admiring the education initiatives taken in school in Rajasthan, Prakash Javadekar said that there has been a visible improvement in the quality of education in government schools in the state
  • Now, the state has scrapped the remark which was 25 years ago called “Bimaru”
  • Till now, about 15 lakh candidates have enrolled in government schools with Utkarsh Adarsh schools being opened at panchayat level
  • Meanwhile, asking  the minister to comment on the suicide by several students preparing for IITJEE at coaching institutes of Kota, Javadekar said a website ‘IIT-PAL’ will be introduced for free of cost to give them study material and guidance by experts

While concluding the statement, Javedkar said, Narendra Modi-led government is working to improve academic standards and wants the curiosity among students to grow with education.

source”cnbc”

CBSE Class 10 board exams may return in 2018: Discussion to be held today

CBSE Class 10 Board Exams

After making Class 10 boards optional in 2010, CBSE may reintroduce them from 2018. HRD Minister Prakash Javedekar will discuss the matter with the education ministers of states and central minsters today, October 25.

Speaking to India Today Education, Ruchika Chhabra, Counsellor from Ramjas School said, “It’s a good start again for education system schools children. Mass failure will reduced in class 9. It is a hope that children will start taking studies more seriously. Their attitude and seriousness will bring a drastic changes in positive way. I wish good luck to all.”

Whereas Gautam Narang, a teacher of coaching institute said, “CCE pattern is the worst pattern as it pressurises students. Class 10 boards are the best way to check a person’s capability as it is completely anonymous. It also helps the children to get prepared or you can say a practice for their class 12 boards. I have seen those students who did not give class 10 boards were too scared to give boards in 12 which almost lead them to a nervous breakdown. All in all having class 10 boards is the best thing our education ministry can gift us back this new year.”

Here are some reasons for the reintroduction of Class 10 board exams:

  • Number of drop-outs has reduced
  • Scrapping away the exam affected the academic standards

Introducing no-detention policy:

As per the reports, the education minster will also announce ‘no-detention’ policy, wherein students will be promoted to class 5.

Thereafter, the states can devise this alternative till class 8. If a student fails, the opportunity of a ‘re-test’ should be given to them.

Also, the Board has decided to discontinue the re-evaluation of answer scripts. To read more on this, click here.

What is your take on the reintroduction of CBSE Class 10 board exams? Write on the comments section below!

source”cnbc”

You won’t see $70 oil until 2018: Morgan Stanley

Morgan Stanley has downgraded its outlook for oil prices, expecting low prices to persist for longer than previously thought as the supply and demand imbalance looks set to continue for at least another two years.

The bank lowered its average 2016 Brent price forecast to $30 per barrel, down from $49 previously. Morgan Stanley now expects an average price of $40 per barrel in 2017 as oversupply persists, before climbing past $50 by the end the year to average $70 by 2018.

Oil barrels over supply

Gary Gladstone | Getty Images

“To rebalance the market, we maintain that demand must ‘catch up’ to supply, as production is unlikely to retrench materially. The challenge is that demand growth is slowing. When combined with seasonality and lagged data, confirmation of large draws and rebalancing now may not be apparent until mid-2017 in our base case,” said analysts led by Andrew Sheets at the group.

Sheets said any recovery will need to be a “three step” process, where an oversupplied market needs to rebalance by cutting production and increasing demand, working off high oil inventories and allowing producer hedging to run its course.

Oil extended a rally above $35 a barrel on Thursday, adding to the previous session’s 7 percent jump, as support from a weaker dollar offset concern about over supply and record-high U.S. inventories.

Crude bounced from an earlier decline after comments from an Iranian official suggesting Tehran supported a meeting between the oil-producing cartel OPEC and other producers raised hopes — despite much skepticism in the market — that they could take action to support prices.

Brent crude was up 62 cents at $35.68 a barrel in afternoon trading Thursday. Prices have gained over 30 percent since falling to $27.10, the lowest since November 2003, on January 20th. U.S. crude was up $1.11 cents to $33.41.

Looking at the impact low oil prices will have on other asset classes, Morgan Stanley expects further weakness in the oil producer currencies, specifically the Canadian dollar and the Norwegian crown. Exporters of other commodities should generally move in line, including the Australian and New Zealand dollars.

With Brent averaging $30 in 2016, Russia will have to choose between the depletion of their sovereign wealth oil fund, or a 3–3.5 percent contraction in the economy this year, analysts at the bank said.