IBM bids $2bn for analytics firm Netezza September 20, 2010 IBM yesterday said it will buy data analytics company Netezza for $1.7bn (£1.1bn) in a bid to expand its technology services business. It hopes the acquisition will help its clients more expertly analyse market information as it shifts its focus from computer hardware to higher-margin software and services. The deal values Netezza at $27 per [...]
Clipper in talks with UTC over possible takeover September 20, 2010 Wind turbine maker Clipper Windpower is in talks with major shareholder United Technologies Corp (UTC) over a takeover or financing deal as it seeks additional capital to continue operating. Clipper, which is burning through cash, said UTC had indicated it would be willing to acquire the remaining shares in Clipper it does not already own, [...]
HP and Oracle sign agreement over transfer of Mark Hurd September 20, 2010 HEWLETT-PACKARD said yesterday it has settled a legal dispute over Oracle’s hiring of Mark Hurd. The companies did not disclose the terms of the settlement, but said in a joint press release that, “Hurd will adhere to his obligations to protect HP’s confidential information while fulfilling his responsibilities at Oracle.” In a filing with the [...]
Retail chiefs in call for rates shake-up September 20, 2010 RETAIL chiefs have demanded that the government changes the way it calculates business rates to help struggling shops to stay afloat. The current rate is partly based on September’s Retail Price Index (RPI) which is expected to be around four per cent. But the British Retail Consortium (BRC) has called on the coalition to find [...]
Foster’s wine in the sights of US private equity businesses September 20, 2010 PRIVATE equity firms Kohlberg Kravis Roberts and TPG have held early talks about teaming up to bid for the wine unit of Australian brewer Foster’s. The pair are yet to decide whether to proceed either together or separately, according to reports in Australia. In 2007, KKR and TPG united to take Texas-based Energy Future Holdings, [...]
House of Fraser plans to set up shop out of town in bid to boost revenues September 20, 2010 DEPARTMENT store chain House of Fraser is understood to be drawing up plans to open out-of-town stores. House of Fraser has hired property agency DTZ to find out-of-town stores as precious city centre space becomes more difficult to find. It would be the first time that the department store has opened stores outside city centre [...]
Ivy founder in Middle East deal September 20, 2010 Richard Caring, the entrepreneur behind The Ivy, Rivington Grill and Scott’s has signed a joint venture with Jumeirah, the Dubai-based hotels and leisure business. The deal allows Jumeirah to open restaurants under the Caring brands. There is already a Rivington grill in Dubai, which opened in 2008. It is understood Caring’s holding company, Caprice, will [...]
Queenco in Cambodia move September 20, 2010 Hotel and casino operator Queenco Leisure is moving into Cambodia. It yesterday signed a joint-venture deal with Paradise Investment to open a hotel, casino, restaurant and karaoke premises. This is Queenco’s first move into Asia, though it has businesses in Greece, Belgrade and Bucharest. It will own 70 per cent of the Cambodian venture, which [...]
Hong Kong gains ground on the City September 20, 2010 THE government was warned yesterday not to risk London’s position as the world’s largest financial centre as a report showed the City and New York losing ground to Hong Kong. Hong Kong has now joined New York and London as one of the “Big Three” financial centres for the first time, according to the latest [...]
French authorities fine 11 banks after price-fixing probe September 20, 2010 ELEVEN banks, including UK giant HSBC, were yesterday fined €384.9m (£323m) for colluding to fix the price they charge for handling cheques. The French competition authority found that the banks acted in concert to set interbank cheque fees on 80 per cent of cheques circulating in France between January 2002 and July 2007, during the [...]
