Toyota plans to slash costs December 21, 2009 Carmaker Toyota plans to cut auto parts procurement costs by around 30 per cent over three years to help it regain profitability, according to Japanese reports yesterday. Toyota has asked its suppliers to cut prices of some parts by 30-40 per cent for cars that will hit the market by 2013, the Asahi daily said. [...]
Goldman may win top spot as dealmaker December 21, 2009 GOLDMAN Sachs is on track to steal the top spot in a league table of global M&A advisers in 2009 with $624bn (£388bn) worth of deals. Morgan Stanley in line for second place. Figures to be released by Dealogic tomorrow are thought to show Goldman Sachs has advised on 266 deals this year, giving it [...]
Eurostar launches probe as limited services resume today December 21, 2009 EUROSTAR yesterday launched an independent investigation into the problems which forced it to cancel all train services for three days in a row. The review will be led by Christopher Garnett, former chief executive of GNER and the former commercial director of Eurotunnel, and Claude Gressier, the French inspector general of bridges and roads. Eurostar [...]
BA ordered to give up slots for Oneworld alliance December 21, 2009 BRITISH Airways, Iberia and American Airlines have been told they must surrender slots at congested airports including London Heathrow if they are to extend their Oneworld alliance. The airlines are among five Oneworld partners who have applied for immunity to anti-trust cases, which would let them jointly price and market international flights without fear of [...]
ManTech in $242m Sensor deal December 21, 2009 ManTech International said it agreed to buy privately owned Sensor Technologies for $242m (£151m) in its biggest deal to expand its presence in the high-end defence and intelligence market. Sensor Technologies, a Red Bank, New Jersey-based provider of IT services to the US Army, is expected to see revenue growth of about 32 per cent [...]
Banks with politics got bailouts December 21, 2009 US banks that spent more money on lobbying were more likely to get government bailout money, according to a study released yesterday. Banks whose executives served on Federal Reserve boards were more likely to receive government bailout funds from the Troubled Asset Relief Programme, according to the study from Ran Duchin and Denis Sosyura, professors [...]
Kroenke nears Arsenal threshold December 21, 2009 US sports and real estate entrepreneur Stan Kroenke has bought another 25 shares in Arsenal football club, taking him close to the threshold for a mandatory takeover offer. The Premier League club said in a statement to the London Stock Exchange yesterday that Kroenke bought the shares for £8,500 each on 17 December, giving him [...]
SALES CHILLED December 21, 2009 HEAVY snow and freezing temperatures have deterred Christmas shoppers from hitting the High Street for some last minute purchases. According to data firm Experian, the number of shoppers on 19 on 20 December was 6.9 per cent lower than for the same weekend last year. Central London was one hot spot, with the West End [...]
Avanti raises funds to grow December 21, 2009 SATELLITE company Avanti yesterday raised £282m through a combination of shares and debt facilities to fund growth in providing broadband to inaccessible markets. The company, which sells broadband using satellite technology to remote and rural locations, will use the money to launch its second satellite in 2012. Avanti current rents space on other satellites, and [...]
Vodafone gives details of its £35 a month iPhone offering December 21, 2009 VODAFONE will make its move in to the iPhone market on 14 January, becoming the fourth UK network to sell the sought-after handset. It will offer customers a free handset for £35 a month on a two-year contract. Vodafone joins Orange, Tesco and O2, which had the original exclusive deal with Apple for the handset’s [...]