After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
BA jumps last Iberia hurdle September 22, 2010 IBERIA has approved British Airways’ (BA) plan to tackle its £3.7bn pension deficit, removing the last remaining hurdle to their merger plans. The decision was made by Iberia’s board, which met yesterday to decide whether it should approve the proposals set out by BA chief executive Willie Walsh. Iberia’s decision means the merger plans, which [...]
Rhetoric is spiralling out of control September 22, 2010 PERHAPS the most depressing part of Vince Cable’s nasty attack on corporate Britain, capitalism and finance was his embarrassing misreading of Adam Smith. The great economist agreed with Cable that business people dream of setting up cartels – but he made it clear in the subsequent sentence that the best way to prevent this was [...]
BBC opens up its books September 22, 2010 THE BBC has agreed to give the public spending watchdog complete access to its books for the first time. Under a deal announced yesterday, the National Audit Office will be able to vet contracts with top executives. It will also be able to scrutinise the BBC’s contracts with other companies, to ensure the licence-fee payer [...]
Lost order could cost BAE £150m September 22, 2010 BAE Systems could lose up to £150m from a cancelled order for three offshore patrol ships, after Trinidad and Tobago said they wanted to back out of the deal. The first of three ships, which are built in portsmouth, was set to be delivered within the coming weeks but the defence group received notification from [...]
McDonalds to sell lattes to Brits September 22, 2010 Fast-food retailer McDonald’s is to target the rapidly expanding British coffee market by selling espresso-based drinks alongside Happy Meals and Big Macs. McDonalds said it sold 84m cups of coffee last year and, since re-launching its coffee business three years ago, sales have jumped 39 per cent. The food chain expects to cash in on [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 22, 2010 FINANCIAL TIMES SIEMENS PROMISES WORKERS JOBS FOR LIFE Siemens’ German workers have struck a deal that will see their jobs secured indefinitely, in an arresting move that highlights how the financial crisis has triggered a fresh consensus between labour and management in corporate Germany. The engineering group said it had sealed an agreement with its [...]
PotashCorp sues BHP over hostile offer September 22, 2010 CANADIAN fertiliser firm PotashCorp yesterday buttressed its defences against BHP Billiton’s hostile $39bn (£24.9bn) bid, filing a lawsuit against the miner in an Illinois federal court. The suit came as BHP’s chief executive Marius Kloppers faced the scrutiny of investors over his $11.3m paycheque for the past financial year – a 9 per cent increase [...]
HSBC says Geoghegan did not threaten to quit September 22, 2010 HSBC dismissed suggestions its chief executive Michael Geoghegan threatened to quit unless he was elevated to the role of chairman. The firm branded the speculation “offensive”, saying Geoghegan, who has been at the bank 37 years, has no intention of stepping down. A spokesman said: “It is nonsense that Mike threatened to resign unless he [...]
Gilts rally after Fed opens door to more stimulus September 22, 2010 YIELDS on UK government bonds saw their sharpest fall in 18 months, after the US?Federal Reserve said it was open to a new round of quantitative easing (QE) to help revive the flagging American economy. The yield on the benchmark 10-year gilt dropped by 15 basis points to 2.97 per cent, the biggest drop since [...]
Post workers to own 10pc of Royal Mail September 22, 2010 AT least 10 per cent of Royal Mail will be owned by employees when the postal service is eventually privatised, Vince Cable announced yesterday. Speaking at the Liberal Democrat conference in Liverpool, the business secretary said Royal Mail’s 155,000 workers would benefit from the “largest employee shares scheme of any privatisation for 25 years”. He [...]