Knowing who is in charge is the key to success July 26, 2010 Twice in the past month, I’ve got back in touch with businesses with husband and wife teams at their core. In both cases, the businesses are doing well, and my hesitancy to not get involved because of the “power knot” may have been too strong. A girlfriend is considering buying a business with a friend [...]
Madoff trustee could sue 1,000 July 26, 2010 THE trustee overseeing the liquidation of Bernard Madoff’s investment firm might sue about 1,000 victims whom he believes profited improperly from doing business with the now-imprisoned Ponzi schemer. Irving Picard, the court-appointed trustee, “could sue” about half of the estimated 2,000 former Madoff clients whom he considers “net winners,” a spokesman said. Picard has until [...]
Pearson gets digital boost July 26, 2010 Publisher Pearson expects to see a seven per cent spike in full-year earnings after a boost from its digital services division. The company now says it is wholly focused on the education aspect of its business, with online services taking the forefront in its expansion. Pearson’s education business, the world’s largest, saw a nine per [...]
IBM faces competition probes July 26, 2010 EUROPEAN Union competition regulators launched two anti-trust investigations against IBM, suspecting it of abusing its dominant position in the mainframe computer market. One investigation followed complaints by emulator software vendors T3 and TurboHercules against IBM’s practices, and focuses on the US computer group’s alleged tying of mainframe hardware to its mainframe operating system. The second [...]
Pace buys US box-maker 2Wire in a £307m deal July 26, 2010 Pace, the world’s largest set-top box maker, has thrown down the gauntlet to internet TV providers by snapping up US broadband technology firm 2Wire for $475m (£307m). The acquisition will allow it to broaden its customer base beyond cable and satellite into the rapidly expanding online TV market. The British firm, which overtook Motorola to [...]
GOOGLE HIT BY CHINA RETREAT July 26, 2010 GOOGLE’S dominant position on the global online search market slipped slightly in the second quarter, as it retreated from the Chinese market. Its market share fell to 69.7 per cent in the April to June quarter from 71.1 per cent in the previous three months. The biggest gainer on the global scale was China’s Baidu, [...]
CITY MOVES | WHO’S SWITCHING JOBS July 26, 2010 Deloitte The accountancy giant has appointed Nick Sanderson to head up its real estate corporate finance advisory business. Sanderson joins Deloitte as a partner from Japanese bank Nomura, where he was a managing director and head of real estate investment banking. He has also previously worked at Lehman Brothers and UBS and has 10 years [...]
EU loses in world trade row July 26, 2010 A World Trade Organisation (WTO) panel has ruled that the EU was wrong to impose duties on three types of electronics products from the US and other countries, trade sources said yesterday. The WTO panel backed the US as well as Japan and Taiwan in their complaint that EU duties on flat-panel displays, multifunction printers [...]
BBC warned over spending July 26, 2010 Culture secretary Jeremy Hunt yesterday warned the BBC must check its spending or face losing the trust of the public. He warned the broadcaster must be “on the same planet as everybody else” when it spends public money. Speaking yesterday, he said: “As we’re having to be very careful about every penny of taxpayers money [...]
Singapore Air beats forecast with recovery July 26, 2010 Singapore Airlines, the world’s second-largest airline by market value, yesterday said a recovery in passenger and freight traffic should be sustained in the near term after posting a better-than-expected first quarter profit. Global airlines are recovering from the worst downturn in aviation history, but some analysts doubt if the rebound can be sustained with the [...]