Autonomy gives HP green light October 3, 2011 HEWLETT-PACKARD last night completed its $12bn (£7.77bn) buy of British software firm Autonomy, the centrepiece of a botched strategy shift that cost ex-chief executive Leo Apotheker his job last month. HP said its £25.50-per-share cash offer had been accepted by investors representing 87.34 per cent of the company’s shares, well ahead of the 75 per [...]
FPC ponders move to boost bank lending October 3, 2011 SOME senior officials on the Bank of England’s new regulatory body want banks to tap their liquidity buffers in order to boost lending and stimulate the recovery. Yet the majority of members on the Bank’s new Financial Policy Committee (FPC) decided that banks should continue to “strengthen levels of capital and liquidity”, the minutes to [...]
British retail industry calls for free trade across EU October 3, 2011 BRITISH retailers face “bonkers” trade barriers that prevent them opening stores in some other European Union countries, a leading industry group will argue today. Excessive regulations deter investment and deprive people of the benefits of free trade, the British Retail Consortium has said. “I applaud the [European] Commission’s efforts to tackle discriminatory national legislation which [...]
Gloomy future for construction October 3, 2011 The construction industry in the UK is set for a significant downturn according to industry surveys released yesterday. The building industry is “heading towards a nose dive”, the Federation of Master Builders (FMB) said, claiming the workloads have fallen for 15 consecutive quarters. Nearly half (44 per cent) of FMB members have reported falling levels [...]
Retail sales grow in Hong Kong October 3, 2011 Retail sales in Hong Kong grew by 28.9 per cent annualised in August, official data revealed yesterday. Yet with inflation taken into account the rise is closer to 20 per cent, according to Société Générale. “On a rolling three-month basis, seasonally adjusted data shows retails sales volumes up just 1.6 per cent compared to an [...]
Swiss high street in slowdown October 3, 2011 Retail sales in Switzerland declined for the second straight month in August, down 3.9 per cent month on month and 1.9 per cent compared to the same time last year.
China’s service sector rebounds October 3, 2011 China’s service sector rebounded in September, according to the latest HSBC purchasing managers’ index (PMI). The PMI rose to 53 last month, recovering from an all-time low of 50.6 in August, lifted by new orders.
Avanti bullish despite jump in its losses October 3, 2011 Satellite broadband provider Avanti saw its full year losses widen as costs associated with its new satellite projects took their toll. The firm posted a pre-tax loss of £12.7m, from £2m last year, with revenues slipping from £5.8m to £5.5m. However, chief executive David Williams told City A.M. the results were in line with expectations [...]
HARDER, BETTER, FASTER, STRONGER | WHAT TO EXPECT FROM THE NEW IPHONE October 3, 2011 Tim Cook (pictured right) will today make his inaugural speech as full-time chief executive of the world’s biggest technology company, writes Steve Dinneen. He will unveil the iPhone 5, the latest version of the handset that has reinvented the smartphone. Apple is notoriously tight-lipped about its upcoming releases. So what can we expect? FASTER Chances [...]
Electrocomponents sees growth in its revenues slow amid weak conditions October 3, 2011 Electronic parts supplier Electrocomponents saw its revenue growth slow in the second quarter as weaker market conditions, particularly in electronics, dragged on sales. The firm, which sells products ranging from batteries and cables to safety equipment, said second-quarter revenue grew eight per cent, compared with 14 per cent in the first, as growth in continental [...]
