Autonomy April 21, 2010 NOBODY can deny that Autonomy is a tremendously exciting company with high growth prospects, the closest thing the UK has to a Microsoft or a Google. A market leader in the field of meaning-based computing, it is only scratching the surface of what is possible. The world, as they say, is its oyster. It’s a [...]
Ericsson buys into JV with Korea’s LG April 21, 2010 SWEDEN’S Ericsson has agreed to buy bankrupt Nortel’s controlling stake in a venture with LG Electronics for $242m (£157m), to access the Korean telecoms equipment market. Ericsson, the world’s largest mobile network equipment maker, said the deal would boost its earnings within a year of closing the deal. Nortel, once North America’s biggest maker of [...]
PEARL & DEAN GOES FOR A SONG April 21, 2010 ICONIC cinema advertising firm Pearl & Dean was yesterday disposed of by STV for a nominal sum of £1. It was snapped up by Image Limited, a newly formed company backed by Empire Cinemas director Thomas Anderson, on a cash-free, debt-free basis. STV said the deal would enable it to refocus on its core television [...]
Blow for Labour as unemployment rises April 21, 2010 UNEMPLOYMENT has surged to its highest level in 16 years, in a major blow for Labour ahead of the general election. The Labour Party says it has protected jobs in the wake of the deepest recession in a generation, but unemployment in the UK increased by 43,000 to 2.5m in the three months to February. [...]
Our panel: surge in support for Nick Clegg is here to stay April 21, 2010 THERE has been a significant increase in support for the Liberal Democrats on our panel of City workers. The City A.M./PHI Panel, which has been specially recruited with PoliticsHome.com to represent a cross-section of London’s financial and business community, were asked if they were likely to vote Lib Dem. Almost a third of panellists said [...]
CITY VIEWS: WHO DO YOU THINK IS GOING TO WIN THE GENERAL ELECTION? April 21, 2010 BRIAN JEROME | D & D LEASING “I think Gordon Brown is going to win. While I don’t support the Labour party, I think people will go with what might provide the most stability. It’s going to be a close election.” CHRIS CROSSLEY | colt technical services “I think there will be a hung parliament. [...]
HUNG PARLIAMENT April 21, 2010 Q. what do mps mean when they talk about a ‘hung parliament’? A. A hung parliament occurs when no party has an overall majority.?There are 650 seats up for grabs in the next House of Commons, meaning the winner of the election will need to have 326 seats to command an overall majority. If they [...]
GOLDMAN AND GORDON HAVE SEEN BETTER DAYS April 21, 2010 GORDON Brown’s savage attack on Goldman Sachs for being “morally bankrupt” must have come as a surprise to those who can recall a time when the Prime Minister’s attitude to the bank was rather different. BGC’s veteran market commentator David Buik yesterday reminisced about a fundraising gala dinner he attended years ago in aid of [...]
ELECTION2010 April 21, 2010 IMF hurts Brown with forecast The International Monetary Fund yesterday slashed its 2011 UK growth forecast, delivering a pre-election blow to the government. The Washington-based fund cut its growth forecast for next year from 2.7 per cent to 2.5 per cent. It maintained its 2010 forecast. Its forecast is signficantly lower than that of chancellor [...]
CITY EYE April 21, 2010 JUBILATION reigned in the City yesterday as an airborne passenger jet streaked through the skies, a sight which has become all too rare over the past week