Nokia JV sells assets in push to cut costs December 3, 2012 Mobile telecoms equipment joint venture Nokia Siemens Networks, which is focusing on its core business, will sell its optical fibre unit to US investment firm Marlin Equity Partners. Up to 1,900 employees, mainly in Germany and Portugal, will be transferred to the new company, the company said yesterday. The sale price was undisclosed but estimated [...]
Sportech bags veteran Schreff for executive role in Americas December 3, 2012 GAMBLING firm Sportech has underlined its commitment to growth across the pond by appointing a chief operating officer for the Americas region. The pools operator has brought in David Schreff, a sports and media industry veteran, to oversee the fledgling businesses in the US, Caribbean, and Latin America. “This senior appointment represents an important next [...]
Miller supports self-regulation December 3, 2012 CULTURE secretary Maria Miller challenged Britain’s newspapers to implement an acceptable system of self-regulation yesterday, as she warned that the state may intervene if the industry does not respond to the proposals put forward by the Leveson report. Clashing with her Labour counterpart Harriet Harman in the House of Commons, Miller echoed last week’s comments [...]
Ericsson seeks US ban on Samsung December 3, 2012 Swedish telecoms gear maker Ericsson has filed a request with the US International Trade Commission to ban US imports of products made by South Korean group Samsung. The request from Ericsson, which said yesterday the products infringe on its patents, came after it sued Samsung for patent infringement in a US court last week. Samsung [...]
Computer Sciences sells credit unit December 3, 2012 US technology services provider Computer Sciences said yesterday it will sell its credit services unit to business information provider Equifax Inc for $1bn in cash, and record after-tax proceeds of about $750m to $800m. CSC, currently valued at about $5.91bn, said the sale of its credit services unit would help it focus on its technology [...]
Boeing splits off development arm December 3, 2012 Boeing said yesterday it is creating a new division to oversee airplane development, hiving off that function from production as it seeks to ramp up factory output. The company named Scott Fincher, who heads Boeing’s 777 jet programme, to lead the new division, “airplane development”, which will handle design and flight certification of planes that [...]
Polymetal ups estimates at Albazino site December 3, 2012 RUSSIAN precious metals miner Polymetal said it would decide next year whether to double production capacity at its Albazino gold project in Russia’s far east after doubling its estimate of mineral resources there. “Exploration results at Albazino highlight the tremendous potential of this asset and pave the way for the expansion decision to be taken [...]
BP sees off TNK-BP shareholder claim as it sets out new strategy December 3, 2012 MINORITY shareholders in Anglo-Russian oil firm TNK-BP are withdrawing a 100bn rouble (£2.01bn) damages suit against BP after the main stakeholders agreed last month to sell their stakes to Russia’s Rosneft. A Siberian court in July awarded the damages against the British oil major in a case brought by a group of minority shareholders in [...]
Uganda’s East African Gold to ring in New Year with listing December 3, 2012 GOLD miner East African Gold yesterday announced its plans to list on London’s Alternative Investment Market (Aim), becoming the first Ugandan-focused company to seek a London flotation. East African Gold, which was formed in September 2011 and holds more than 800 square miles of exploration licences in northern Uganda, said its shares will begin trading in [...]
St Modwen hunts for a partner on Elephant and Castle scheme December 3, 2012 ST MODWEN yesterday confirmed it was searching for a development partner for the £500m Elephant and Castle shopping centre regeneration in south London. In a trading update for the year to 30 November, the developer said it has hired Colliers International to find a joint venture partner for the scheme, which is expected to provide [...]