HP upbeat as posts 8pc rise in total sales November 22, 2010 HEWLETT Packard (HP), the world’s largest personal computer manufacturer, reported fourth quarter net revenue of $33.3bn (£20.9bn) yesterday, up $2.5bn, or eight per cent, year-on-year and raised its profit forecast for next year following higher global sales and growth in its core PC business. HP said it now expects earnings of around $5.16 to $5.26 [...]
Firms don’t trust coalition tax pledge November 22, 2010 THE overwhelming majority of businesses do not think that George Osborne will meet his pledge to make Britain?the most competitive tax regime in the G20, according to a survey of 60 leading firms. Big Four accountancy firm PricewaterhouseCoopers found that 82 per cent of firms thought the chancellor would not keep his promise. However, 77 [...]
Germany’s K+S snaps up Potash One for £266m November 22, 2010 GERMAN fertiliser producer K+S AG is buying Canada’s Potash One for C$434m (£266.8m), joining a rush for scale in an industry that will play a crucial role in feeding the world. K+S’s C$4.50-a-share offer, a 31 per cent premium to the average price over the previous 10 sessions, comes less than three weeks after Canada [...]
FOX CALLS FOR BETTER INTERNET SERVICE November 22, 2010 MARTHA Lane Fox, the UK digital champion, yesterday called for radical improvements in the quality and accessibility of government internet services. Her report said shifting 30 per cent of government service delivery contracts to digital channels could save more than £1.3bn a year.
Hitachi tipped to win revamped high speed train deal November 22, 2010 THE government is tipped to confirm Japanese train manufacturer Hitachi this week as the winner of a slimmed-down deal to replace the UK’s ageing Intercity 125 high-speed trains. It is thought ministers have re-jigged an existing agreement with Hitachi’s consortium Agility Trains to make the £7.5bn trains it offered for the UK’s Intercity Express (IEP) [...]
GenSpring ready to buy in Europe November 22, 2010 GENSPRING Family Offices, the largest US-registered investment adviser, is in “very deep conversations” to buy a European wealth advisory firm, the firm’s international business head told Reuters yesterday. New York-based GenSpring expects to complete a takeover of the unidentified firm by the first quarter of 2011, Santiago Ulloa, president of GenSpring International, said in an [...]
Defence boss to take over at water firm November 22, 2010 WATER group United Utilities is recruiting the boss of a subsidiary of Italian helicopter and aircraft maker Finmeccanica to replace outgoing chief executive Philip Green. United, which provides water and sewage services to about 7m people in north-west England, said Steve Mogford will become chief executive on 31 March when Green steps down. Mogford is [...]
BA swoops on bus company’s finance chief November 22, 2010 BRITISH?Airways (BA) has poached the finance boss of train and bus operator Go-Ahead to become its new chief financial officer. BA said Nick Swift would join the flag carrier on 7 March next year, replacing Keith Williams, who becomes chief executive of the company when its merger with Spanish rival Iberia goes ahead. BA’s current [...]
Taylor Wimpey begins £250m bond offering November 22, 2010 HOUSEBUILDER Taylor Wimpey rounded off its refinancing plan yesterday by announcing a new £100m debt facility and plans to sell £250m of five-year bonds. The news follows on from the firm’s £950m credit facility, which was announced last week as the last act by outgoing chief financial officer Chris Rickard. Prudential’s M&G UK Companies Financing [...]
Oracle and SAP in compensation feud November 22, 2010 SOFTWARE heavyweights Oracle and SAP were yesterday battling over compensation figures at the climax of a closely-watched US trial over copyright infringement. Oracle’s lawyers called for SAP to pay $1.7bn (£1.1bn), while SAP replied a more appropriate award would be closer to $28m. The compensation debate comes at the end of a federal trial, where [...]
