Pace in talks to launch digital service in India February 3, 2011 UK set-top box maker Pace is in talks with a satellite provider to launch a new digital service in India. The discussions are believed to be with pay-TV operator Tata Sky, a joint venture between Indian conglomerate Tata and News International-owned Star TV. Analysts say the deal will not lead to a rush of sales [...]
Visa and Monitise sign mobile payment deal February 3, 2011 MONITISE has signed an agreement to provide mobile payment services for Visa’s member banks and financial institutions across Europe. The new services will include contactless payments in store, peer-to-peer payments and mobile alerts. The partnership gives Visa Europe a licence to Monitise’s industry-leading mobile technology. Bob Liao, an analyst with Canaccord Genuity, says the deal [...]
From albatross to global powerhouse February 3, 2011 WHEN Ian Livingston took the helm at BT, Global Services was a complete mess. One of the first things he had to do after becoming chief executive in 2008 was issue a dramatic profit warning due to underperforming contracts at the division, which competes with the likes of IBM for big corporate IT deals. Shareholders, [...]
Service sector soars on both sides of pond February 3, 2011 BOOMS in service sector activity were recorded in both the UK and the US last month, data revealed yesterday. After a snow-affected dip in December, Britain’s largest sector hit an eight-month high in January, jumping to 54.5 in the latest purchasing managers’ index (PMI) from 49.7 in December, well above the 51.4 reading expected. All [...]
Rate futures lift as Eurozone sticks with loose policies February 3, 2011 EUROZONE interest rate futures rose yesterday after the central bank held rates at a record low of one per cent, and avoided making hawkish noises. While warning that inflation could remain above the European central bank’s (ECB) two per cent target for most of 2011, medium run expectations remain “firmly anchored,” it said. Euribor futures [...]
High streets across Euro area hit February 3, 2011 Retail sales across the euro area fell for the second month in a row, dropping by 0.6 per cent in December compared to the previous month. “We suspect that this was partly down to the bad weather, with parts of the Eurozone snow-bound,” said ING’s Martin van Vliet.
American unemloyment claims fall February 3, 2011 US jobless claims fell to 415,000 in the week ending 29 January, it was revealed yesterday. The number of unemployed benefit claimants had increased the previous week due to heavy snow in four states, according to Barclays Capital. And separate data showed a 0.2 per cent rise in US factory orders for December. “This was [...]
Housing market dip continues February 3, 2011 Mortgage approvals dipped in January, according to chartered surveyors e.surv. Purchase approvals were down 6.2 per cent, it reported. “Far fewer people were able to get out and about house hunting in December with snow disrupting travel or simply offering something more fun to do at the weekend,” said e.surv’s Richard Sexton. “As a result, [...]
US PUBLIC DEBT CONCERNS FED’S BERNANKE February 3, 2011 AMERICA’S “extraordinarily wide” government deficit must be tackled, Federal Reserve chairman Ben Bernanke warned last night. Referring to “the daunting fiscal challenges” the US faces, Bernanke said the public finances were “unsustainable” and would remain so unless “Congress enacts significant changes in fiscal programmes.” The government’s annual deficit has risen to more than nine per [...]
TUI in £30m blow from Africa crisis February 3, 2011 TRAVEL group TUI said yesterday the unrest in Tunisia and Egypt could cost it up to £30m as the holiday destinations effectively became no-go zones. The company, Europe’s largest travel operator, said that the bill from the Egypt crisis was likely to be £25m with Tunisia denting its figures by £5m. The warning came as [...]
