Spanish Prime Minister hails his country’s escape from the crisis February 24, 2015 SPAIN’S Prime Minister, Mariano Rajoy, yesterday talked up the country’s impressive economic recovery, ahead of crucial elections that could see him ousted by a move towards socialist parties. “It is a nation that has come out of a nightmare,” Rajoy said. “It has saved itself, recovered economic confidence, enjoys prestige and is once again attractive [...]
Athens torn over compromise with EU so soon after election February 24, 2015 GREEK leaders were divided yesterday over the compromises being agreed with other European nations, with some backing the deal to extend the bailout and others attacking the failure to stick by election vows. Energy minister Panagiotis Lafazanis voiced his opposition to any privatisations, Greek media reported, while there is also the threat of a coalition [...]
Deutsche Bank’s Hewlett Packard outsourcing deal February 24, 2015 Deutsche Bank has signed a “multi-billion dollar agreement” to outsource large parts of its US banking IT infrastructure to Hewlett-Packard (HP). The 10 year deal, which mainly covers Deutsche Bank’s wholesale banking, will see HP provide dedicated data centre services with the aim of reducing infrastructure costs for the bank. Deutsche will retain activities such [...]
Smartphones and tablets keep luring shoppers to buy online February 24, 2015 Britons buying with their tablets and smartphones has reached 40 per cent of online retail sales after a boom in activity over the last three months to the end of January. Quarterly figures from industry analysts IMRG and Capgemini yesterday showed mobile sales rose at their sharpest rate since the same quarter last year, when [...]
Irish government snubs IAG’s £1bn Aer Lingus offer February 24, 2015 The Irish government yesterday rejected a bid by British Airways owner International Airlines Group (IAG) for Aer Lingus, saying it was not willing to sell its stake in the airline without further assurances. The government wants commitments on growth prospects and the safeguarding of jobs, before it considers selling its 25 per cent stake as [...]
Double decker deal for Exponent Private Equity as group snaps up Big Bus Tours February 24, 2015 The former owner of thetrainline, Exponent Private Equity, has added another transport-related firm to its portfolio after snapping up sightseeing company Big Bus Tours. The mid-market buyout manager, which also owns Quorn Foods, and recently floated shares in HSS Hire, will buy the group from shareholders made up of two family backed groups. The Maybury [...]
JP Morgan executive Marianne Lake fights back against break-up speculation February 24, 2015 A JP Morgan executive kicked off their annual investor day yesterday by rallying against recent suggestions that the bank may need to break up. Chief financial officer Marianne Lake said the bank benefitted from its size and would do everything in its power to sustain its current business model. The Federal Reserve is launching new [...]
Apple travels to Scotland to poach Edinburgh-based talent Camel Audio to bolster Logic Pro app February 24, 2015 Edinburgh-based Camel Audio, an audio software development house run by University of Edinburgh alumni Ben Gillett, appears to have been scooped up by US tech giant Apple. In January, Camel informed customers that its “award-winning… professional audio products” (Alchemy Synth, Sound Libraries and CamelPhat) would no longer be available for sale. Then, on Monday, the [...]
Just Retirement’s annuity rebound surprises market February 24, 2015 Just Retirement Group (JRG) gave the market a shock yesterday, reporting strong annuity sales close to the levels they were at before George Osborne announced sweeping reforms of the pensions market in his Budget last year. Sales of annuities were down by just four per cent, from £687m in the six months to 31 December [...]
Intelligent Energy in £1bn fuel deal with Indian telecoms firm February 24, 2015 TECH company Intelligent Energy (IE) confirmed yesterday it has struck a £1bn, 10-year deal with Indian telecommunications firm GTL. Loughborough-based IE already has an estate of more than 10,000 telecom towers in India, which it supplies with its hydrogen fuel cells. The firm has now reached an agreement in principle with GTL to increase this [...]
