London 2012 will be most expensive Olympics ever June 25, 2012 LONDON 2012 is set to be the most expensive Olympics to date with a projected cost of £8.4bn, according to a report released yesterday. Researchers at the University of Oxford’s Said Business School say this equates to a 101 per cent overrun compared to the original budget of just £4.2bn in 2005. But Professor Bent [...]
Samsung calms investors with solid forecasts June 25, 2012 SAMSUNG executives leapt to reassure investors yesterday over the company’s performance after its shares fell by 4.4 per cent to a four month low. Since the launch last month of its latest smartphone, the Galaxy SIII, Samsung has been cursed with the blessing of overwhelming demand. But the South Korean firm revealed it expects to [...]
Campaigners for women in boardrooms oppose quotas June 25, 2012 A House of Lords select committee yesterday heard campaigners for female representation in boardrooms reject calls for fixed quotas of female directors. Lords were urged to fight against European legislation on the issue in favour of self-regulation at a meeting of an EU sub-committee. “We are reaching a tipping point where chairmen who have the [...]
New Look to close stores as it falls to a loss June 25, 2012 NEW LOOK said yesterday it had won extra time from its banks to pay back its burgeoning debt pile as the fashion chain slumped to a £55m pre-tax loss for the year. The retailer, owned by founder Tom Singh and private equity groups Apax Partners and Permira, said its lenders had agreed to extend its [...]
Lenovo shares plummet on PC market worries June 25, 2012 SHARES of Lenovo Group, the world’s number two PC maker, fell by more than six per cent yesterday on market concern over the outlook for the PC market amid the global economic slowdown. Lenovo’s shares fell as much as 6.3 per cent to HK$6.26 in afternoon trading, extending earlier losses and hitting the lowest intraday [...]
WPP boosts its empire with I&E French buy June 25, 2012 ADVERTISING giant WPP yesterday kept up its blistering acquisition-fuelled growth pace with the purchase of French firm I&E for an undisclosed sum. The communications consultancy business will become part of WPP’s wholly-owned subsidiary Burson-Marsteller. Paris-based I&E – which specialises in reputation management, brand marketing and change management – employs around 110 people. France is WPP’s [...]
Sony and Panasonic launch tie-up for latest design TVs June 25, 2012 RIVAL Japanese television makers Sony and Panasonic said yesterday they will cooperate to make OLED (organic light emitting diode) sets as they battle Korean rivals Samsung and LG Electronics for pole position in the next-generation TV market. The race to garner a lead in OLED, widely touted as the successor to liquid-crystal displays, will depend [...]
Google and Sony launch UK viewing platform June 25, 2012 GOOGLE will make its first foray into UK television next month with the launch of its long-awaited interactive TV service that allows viewers to browse the internet, watch films and play with apps. The tech giant, in partnership with Sony, announced yesterday its new internet TV set-top box, priced at £200, will be available from [...]
Sick men of Europe need a nap June 25, 2012 CONTAGION from the Greek economy is known to pose a serious threat to neighbouring Eurozone countries. But now it appears that the struggling state’s ailments are also being caught by people closer to home. The new Prime Minister, Antonis Samaras, has been struck down by a problem with his eyes, forcing him to miss this [...]
Uncover sordid Soho with the National Trust June 25, 2012 If you thought the National Trust was all country cottages and stately homes, think again, for the guardian of British heritage has released an app that promises to do for London’s red light district what the Kindle did for soft porn page-turner 50 Shades of Grey. Audio app Soho Stories allows you, O intrepid explorer, [...]