AIA CHIEF IN THREAT TO QUIT OVER PRU DEAL
AIA’s chief executive has told friends and industry executives that he would quit if the UK’s Prudential succeeded in its $35.5bn (£24.6bn) takeover of the Asian businesses of AIG. Mark Wilson has said he would step down once the deal closed because the proposed combination of the two Asian businesses was “unworkable”. One person said: “Mark remains loyal to AIA, but doesn’t plan to stay with the merged group because he feels it is a disaster waiting to happen. Many colleagues feel the same way.”
YAHOO AND NOKIA IN MOBILE WEB DEAL
Yahoo and Nokia, two companies under pressure from increasingly forceful competitors Google and Apple, have struck a broad alliance to strengthen their mobile internet offerings, particularly in emerging markets. Yahoo will provide its email and instant messaging services on all Nokia handsets, which remain the most popular smartphones worldwide. Nokia will supply its mapping services to help Yahoo fight against Google’s similar applications. The arrangement helps Yahoo in its drive to reach more consumers in emerging economies, where tens of millions of people access the internet only from mobile phones.
SEOUL TO HALVE TRADE WITH N KOREA
Seoul said it would cut just under half its trade with Pyongyang and close its waters to North Korean vessels in retaliation for the sinking of a South Korean warship that killed 46 sailors. The US swiftly threw its weight behind South Korea in the dispute. The Pentagon said the US navy would conduct a joint anti-submarine exercise with South Korean forces.
WEB CUSTOMERS WAITING AS IPAD MAKES CURRYS DEBUT
Apple is planning a high street blitz to sell the iPad when it is launched in Britain on Friday — but people ordering online could have to wait more than two weeks for delivery. Apple has signed a deal with DSGi to stock the tablet computer at 139 PC World and Currys stores from launch, more than trebling the number of shops at which it will be available. DSGi has agreed a 60-day window with Apple to sell the iPad ahead of rivals such as Comet, Tesco, John Lewis and the Carphone Warehouse.
PACE TAKES LEAD IN SET TOP BOXES
Pace has unseated Motorola to become the world’s biggest maker of set-top boxes. The company, based in Saltaire, near Leeds, recorded a 31 per cent increase in shipments last year to leapfrog Motorola
The Daily Telegraph
BANK OF NEW YORK MELLON FACING £1M LAWSUIT FROM 'OVERWORKED' EMPLOYEE
The London office of Bank of New York Mellon is facing a £1m lawsuit from a senior executive for workplace stress. James Lazarus, head of the bank’s executive office, alleges bullying, excessive workload and a chaotic approach to work at the bank contributed to his insomnia, stress and depression.
SKY HITS OUT OVER CANVAS
Sky’s chief operating officer, Mike Darcey, has accused the BBC and ITV of placating the Office of Fair Trading when presenting Project Canvas, the controversial BBC-led plan to bring iPlayer-like services to televisions. The IPTV joint venture between the BBC, ITV, Channel 4, Five, BT, TalkTalk and Arqiva, received clearance from the OFT at the end of last week
WALL STREET JOURNAL
FDA TOBACCO REGULATOR PROMISES FIRM APPROACH
The top tobacco regulator at the Food and Drug Administration signaled to industry executives that he would take a firm approach to overseeing the industry, but pledged to keep an open mind about new products and ideas to reduce tobacco-related illnesses. Dr Lawrence Deyton, director of the agency's Center for Tobacco Products, said in a speech at an annual tobacco-industry conference here that his job “is to address this enormous toll of confusion, suffering and death caused by the current state of tobacco use in this country”.
FORD TO ADD JOBS IN MICHIGAN
Ford said it plans to make more of the components for its hybrid and electric vehicles in the US as part of an effort to increase the number of low- or zero-emission models its offers.