News Corp eyes bid for media in Turkey January 22, 2012 NEWS CORP has reportedly joined the queue of potential bidders for Sabah-ATV, the Turkish media set which has already garnered the attention of Time Warner. Comprising daily newspaper Sabah and television station ATV, Turkey’s second largest media group currently belongs to Calik Holding, the Turkish corporation led by Berat Albayrak – the Turkish prime minister’s [...]
Volvo hunting for partner to develop compact vehicles January 22, 2012 VOLVO Cars is hunting for a partner to share in the development of its compact models. Chief executive Stefan Jacoby, who took the helm at the Swedish brand when Volvo was bought by China’s Zhejiang Geely for $1.8bn (£1.16bn) in 2010, said a partnership would make sense for the relatively small carmaker to find economies [...]
French would-be president Hollande slams world of finance in key speech January 22, 2012 SOCIALIST challenger Francois Hollande, front-runner in the race to unseat French President Nicolas Sarkozy, declared war on the world of finance yesterday in a speech to 25,000 supporters, three months before the presidential election. The address, attended by Socialist Party top-brass and some showbiz celebrities, was more an exercise in presidential style than substance. Without [...]
Anti-Davos protesters charged January 22, 2012 Swiss police will charge more than 100 demonstrators with breaching the peace after they rallied in Bern to protest against the World Economic Forum that holds its annual meeting in Davos this week. The protesters, some wearing masks, began an unauthorised demonstration but were stopped by police in Bern, 270 km west of the Davos [...]
EU to propose tough web rules January 22, 2012 The European Union will propose tough new rules in the coming days on how corporations handle internet users’ personal data, a long-awaited move that could have far-reaching implications for web giants such as Google and Facebook. Viviane Reding, vice president of the European Commission, said yesterday that the new data-protection legislation was needed to protect [...]
Lufthansa closer to sale of BMI Regional January 22, 2012 GERMAN airline Lufthansa has moved a step closer to selling its bmi Regional and bmibaby brands, the parts of the business that were not included in the sale of their parent company to IAG last year. Lufthansa has found a buyer for bmi Regional, which operates from airports including Aberdeen, Edinburgh, Glasgow, Leeds Bradford and [...]
CITY MOVES | WHO’S SWITCHING JOBS January 22, 2012 Kentz Corporation The FTSE 250 engineering group has announced that Christian Brown (pictured) will replace Hugh O’Donnell as chief executive on 1 February. Brown steps up from the role of group chief operating officer, while O’Donnell, who has led Kentz since 2000, will continue as an exclusive adviser to the group for the next three [...]
BEST OF THE BROKERS January 22, 2012 PETROFAC JP Morgan downgrades the oil services group to neutral with a target price of 1,699p, despite seeing good potential for a margin upside to balance any shortfall in revenue from its order intake and project progress. The broker says the $8bn (£5.14bn) of orders it has estimated as necessary to meet consensus forecasts for [...]
WALL STREET WEEK AHEAD January 22, 2012 STOCKS rising, bulls rampant are motifs you might pick if designing a coat of arms for Wall Street at the moment. But the motto should read: Caveat emptor. Yes, buyer beware. The S&P 500, a broad measure of the market valuation of the biggest US publicly traded companies, is up 20 per cent from its [...]
New technologies that will allow us to live even longer will pay economic dividends January 22, 2012 THERE is little downside to the wonderful reality that human beings are now living longer than ever before. While many assume that society’s economic burden radically increases with greater longevity, the reality is the opposite. Everyone is better off because of longer life expectancies. For example, in 1850, life expectancy in the United States was [...]
