Microsoft flashes cash to promote WP7 October 17, 2011 MICROSOFT will hand £28m to Nokia and Samsung to spend marketing handsets running the latest version of its Windows Phone mobile software. The move is Microsoft’s latest attempt by to force its way into the smartphone market, with Windows Phone 7 (WP7) languishing in an industry increasingly dominated by Google’s Android and Apple’s iOS. It [...]
RIM offers compensation October 17, 2011 BlackBerry-maker Research In Motion (RIM) will offer millions of customers $100 (£63) worth of apps as compensation for last week’s outages. RIM’s reputation has been tarnished by the failure, which brought down data services from Chile to South Africa. Users will now have free access to premium apps until the end of the year – [...]
More time for takeover talks October 17, 2011 THE Takeover Panel made the first extensions to its new “put up or shut up” deadline imposed on buyers of UK companies yesterday, granting several potential bidders more time to put their proposals together. Entertainment rights company Coolabi, the home of children’s TV favourite cat Bagpuss, is one of four firms that have been granted [...]
H&M sales hit by warm September October 17, 2011 SALES at Hennes & Mauritz (H&M) the world’s second-largest fashion retailer, fell seven per cent on a like for like basis in September as unusually warm weather across Europe dented demand for autumn clothes. Last year total sales in September, the first month in H&M’s fiscal fourth quarter, rose 16 per cent at the group, [...]
Habitat guru made head of design at John Lewis chain October 17, 2011 RETAILER John Lewis has appointed former Habitat creative director Theo Williams as design manager. Williams will be in charge of developing the seasonal and home design trends. The designer, who headed the creative direction at Habitat for four years, will put his energy into revamping the department, focusing on furniture, lighting and 3D design. He [...]
Wetherspoon chief takes pay cut as two directors sign off with £766k October 17, 2011 FOUNDER and chief executive of pub group JD Wetherspoon, Tim Martin, has taken a £19,000 pay cut this year while two top directors have parted with the firm with combined total payments of £766,000. Martin’s salary was £375,000 in the year to 24 July, according to the company’s annual report. That compared with his 2010 [...]
Mattel close to deal for Thomas the Tank Engine October 17, 2011 US TOYMAKER Mattel could buy Hit Entertainment, the British owner of Thomas the Tank Engine and Bob the Builder as soon as this week, paying just over £500m for the media group. Hit has been owned by private equity firm Apax Partners since 2005, but US sources close to the deal have said a sale could [...]
PRADA UPBEAT ON CHINA GROWTH October 17, 2011 PRADA said it would stick to its plan for opening new retail outlets yesterday as it was optimistic over growth in Asia, particularly in China, where sales are expected to double or even triple in the next two to three years. In September it reported pre-tax profits up more than 70 per cent for the first [...]
Rio puts $8bn of aluminium assets on sale October 17, 2011 Global miner Rio Tinto signalled a major retreat from its aluminium business yesterday, putting an estimated $8bn (£5bn) worth of assets up for sale across six countries, only four years after buying aluminium giant Alcan for $38bn. Rio Tinto said it planned to sell 13 assets, including smelters and alumina refineries, in a move immediately [...]
Kinder Morgan to buy El Paso October 17, 2011 KINDER Morgan has struck a $21bn (£13.3bn) deal to buy rival El Paso Corp, combining the two largest natural gas pipeline operators in North America in a huge bet on the fast-growing market for that fuel. The cash and stock deal values El Paso at a 37 per cent premium to its Friday market value, [...]