IBM lines up Saudi telco work August 5, 2012 IBM has inked a $280m (£179m) deal with Saudi telecoms group Etihad Etisalat to handle its IT operations, the telco said yesterday. The five year contract is a boon for IBM, which two weeks ago posted a three per cent fall in revenues to $25.78bn but at the time assured investors that it had work [...]
Hague warns over Syria crisis August 5, 2012 Foreign secretary William Hague said yesterday the situation in Syria is bleak, with a bloody escalation expected as Bashar Assad’s army beats back rebels from their stronghold in Aleppo in the coming days. Hague told Sky News: “This is, I’m afraid, the situation we warned about for a long time – that there would be [...]
Aviva profits to fall in advance of great sell-off August 5, 2012 AVIVA is expected to announce a fall in profits this week as its new executive chairman John McFarlane prepares to flesh out proposals to streamline the business with a series of disposals. The firm adopted a radical change in direction following the resignation of former chief executive Andrew Moss in May, pleasing investors who felt [...]
A successful debut for McFarlane will rely on a clear disposal plan August 5, 2012 WHILE most of the UK’s attention was well and truly focused on the Olympics this weekend, shareholders in Aviva and other insurers may also have had one eye on the weather forecast. Analysts are already predicting Aviva’s general insurance profits will drop by as much as five per cent after heavy rain caused damage across [...]
Coalition to put focus on green energy projects August 5, 2012 THE GOVERNMENT hopes to reinforce its focus on renewable energy today, putting coalition squabbles behind it as part of a global energy get-together. Deputy Prime Minister Nick Clegg is poised to announce which energy efficiency fund managers have been picked to run £100m-worth of government funds. Equitix and SDCL will be taken on to manage [...]
Universal’s rivals are sounded out over EMI August 5, 2012 UNIVERSAL’S takeover of EMI could be affected by its rivals’ concerns after the European Commission (EC) wrote to other labels asking for their input on the music giant’s £1.2bn deal. The EC is keen to gauge concerns over the drawn-out deal, with any competition issues potentially meaning the regulator will apply clauses to the takeover [...]
JJB Sports mulls raft of ideas to save firm August 5, 2012 BOARD members at crisis-struck sports retailer JJB Sports are mulling dozens of different financing options to save the battered firm from further losses, it was revealed yesterday. The Wigan-based company, which jettisoned its chief executive Keith Jones and parachuted in former La Senza boss Beverley Williams last month, is exploring “20 to 30” ideas to [...]
Chicken tycoon deserts idea to snap up pudding maker August 5, 2012 THE OWNER of Goodfella’s pizza maker Northern Foods has ruled itself out as a potential suitor for Gü pudding manufacturer Noble Foods after reports yesterday suggested the two could strike a deal. It is understood 2 Sisters Food Group, the Birmingham based food giant headed by chicken tycoon Ranjit Boparan – which bought Northern Foods [...]
Publicis denies Interpublic talk August 5, 2012 FRENCH advertising agency Publicis said it had not held talks with US rival Interpublic Group, denying a report that sent Interpublic’s shares by 13 per cent on Friday. “Publicis Groupe denies having engaged in any discussions with Interpublic group and confirms that it has not commissioned any bank to undertake any such discussions,” the company [...]
Water firms urged to steady prices August 5, 2012 Water companies should stop price hikes and narrow their focus when it comes to improving Britain’s water supply, the former head of Ofwat argues in a report out today. Sir Ian Byatt wants bills to rise less than inflation, giving firms certainty about how much they can spend on upgrades. The Institute of Economic Affairs [...]
