Cable & Wireless Worldwide says it is happy with current full-year target November 16, 2010 TELECOMS firm Cable & Wireless Worldwide is comfortable with full-year expectations after posting first-half sales and earnings in line with forecasts despite pressure from cuts to UK public spending. C&W Worldwide (CWW), which concentrates on the global corporate market and has a large presence in Britain, said the “satisfactory” results had been held back by [...]
Facebook to shake up email November 16, 2010 EXPERTS expect Facebook’s new email service to provide a real threat to rivals such as Google and Microsoft. Facebook chief executive Mark Zuckerberg says the platform will offer integrated email, chat and text messaging to its users. The firm believes it can take advantage of a fragmented communications market where internet users must switch between [...]
CITY VIEWS: WOULD YOU SWITCH TO A FACEBOOK EMAIL ACCOUNT? November 16, 2010 EMMA GALLIVAN | ANGLO ROMANIA BANK “I wouldn’t switch from my Yahoo account. I’m too used to it and have it customised. Another problem is that my work bars Facebook from our computers so I wouldn’t be able to access my email there.” JOHN PICKETT | LLUK “I’m very IT literate and I will be [...]
Doubts hang over Cairn’s Indian sale November 16, 2010 UK OIL and gas explorer Cairn Energy yesterday cast doubt on the planned sale of most of its Indian business to miner Vedanta Resources for up to $8.5bn (£5.4bn)?, but said it still hoped to seal the deal next year. Cairn said there was no guarantee it would sell 40 to 51 per cent of [...]
New car sales fall in Europe November 16, 2010 CAR sales in the UK and Europe plummeted in October as the end of government help for the car industry and uncertainty about spending cuts took their toll. New car registrations in the EU fell 16.6 per cent to 1.03m versus October 2009, the European Automobile Manufacturers Association said. Demand dipped 5.5 per cent to [...]
BEATLES EAT INTO APPLE CHART November 16, 2010 BEATLES albums yesterday flooded iTunes top 200 chart on their first day on sale. Analysts predict they could topple top selling albums by Michael Jackson and Black Eyed Peas. The release of the rights to iTunes after a lengthy legal wrangle is good news for Terra Firma boss Guy Hands, whose embattled music firm EMI [...]
K1 founder charged with fraud for Ponzi scheme November 16, 2010 HELMUT Kiener, founder of German hedge fund group K1, is being charged with fraud, forgery of documents and tax evasion more than a year after he was arrested in a multi-million-dollar investigation. He is accused of having swindled investors out of about €345m (£293.6m) with an elaborate Ponzi scheme, the public prosecutors’ office in Wuerzburg, [...]
CITY MOVES | WHO’S SWITCHING JOBS November 16, 2010 Barclays Corporate Barclays Corporate has appointed a new head of financial institutions. Matt Tuck will return to the bank where he started his career, having worked for the last eight years for Deutsche Bank. In his new role, he will be responsible for enacting a new stage in the expansion of the bank’s financial institutions [...]
Selfridges snaps up Dutch store November 16, 2010 RETAIL group Maxeda Retail Group B.V. said yesterday it has agreed to sell the Dutch luxury department store chain, De Bijenkorf – or “the beehive” to Selfridges Group for an undisclosed sum. The transaction is part of an overhaul of the Dutch non-food retail sector, with KKR’s Maxeda also selling the Hunkemoeller lingerie stores and [...]
SFO chief in vow to chase Russian fraud November 16, 2010 RICHARD Alderman, director of the UK Serious Fraud Office (SFO), has told the Anglo-Russian business community that his organisation will actively seek to exercise new powers worldwide in the global fight against corruption. Referring to new powers available to the SFO following the implementation of the Bribery Act in April 2011, Alderman told an event [...]
