Xerox beats forecasts but will cut jobs October 21, 2010 OFFICE equipment giant Xerox posted higher-than expected quarterly profit yesterday, but warned it would cut 2,500 jobs over the next year as part of a restructuring linked to an acquisition in 2009. Sales at US-based Xerox climbed 48 per cent to $5.43bn (£3.46bn) thanks to its purchase of Affiliated Computer Services. Without last year’s acquisition, [...]
Toyota’s latest recall to affect 17,000 UK cars October 21, 2010 TOYOTA has recalled 1.66m cars, mostly in Japan and the US, in the latest large-scale recall to hit the world’s biggest car-maker. The firm said yesterday it will repair 1.66m cars from its Lexus, Avalon and Highlander ranges due to various brake cylinder and fuel pump wiring problems. The total includes 17,000 vehicles in the [...]
McCoy passes 100-win mark October 21, 2010 HORSE RACING: Grand National winning jockey Tony McCoy recorded his 100th win of the season yesterday at Ludlow. McCoy has won every champion jockey title since 1996 and is 20 wins clear of rival Richard Johnson.
Flawless Lawrie leads in Spain October 21, 2010 GOLF: Paul Lawrie is the joint leader of the Castello Masters in Spain after carding a first round seven-under-par 64. The 41-year-old Scotsman notched four birdies in a row in a bogey-free round.
Fifa official pleads innocence October 21, 2010 FOOTBALL: A Nigerian Fifa official provisionally suspended over the World Cup bribery scandal has denied wrongdoing. Amos Adamu said: “Whilst I wholly refute all allegations made, I fully support the inquiry.”
1,800 jobs go at Nokia amid phone delay October 21, 2010 NOKIA’s new chief executive Stephen Elop put his stamp on the company yesterday by cutting 1,800 jobs, equivalent to three per cent of the company’s workforce, and delaying the launch of a key product after the mobile phone manufacturer posted stronger -than-expected results. It is not known whether UK workers will be affected by the [...]
Shaken Montgomerie suffers bruising in four-vehicle smash October 21, 2010 RYDER CUP captain Colin Montgomerie suffered “terrible shock” yesterday after a four-vehicle crash left him trapped inside his car. Montgomerie sustained severe bruising after a transit van swerved into his car on the A80 near Glasgow before two other vehicles smashed into the Scotsman’s BMW 7-series, sending it “spinning out of control.” Montgomerie later said: [...]
FTSE 100 hits six-month high on US and European results October 21, 2010 Britain’s leading shares surged to a six-month closing high yesterday, led by miners, as UK investors were buoyed by strong earnings in the US and Europe, but TUI Travel fell after reporting accounting errors. Europe’s largest travel firm TUI Travel slumped more than 11 per cent after it revealed its finance chief would quit and [...]
Goldman traders to join KKR October 21, 2010 Kohlberg Kravis & Roberts (KKR) is hiring part of Goldman Sachs’ proprietary trading team, in the latest sign of private equity firms widening their business beyond pure leveraged buyouts. Goldman’s proprietary trading desk is being shut down in light of the “Volcker rule”, which limits the extent to which banks can bet with their own [...]
Wall Street edges up after turbulenceTHE NEW YORK REPORT October 21, 2010 Wall Street inched higher in a volatile session yesterday, torn between strong corporate earnings and a surge in the US dollar. The Dow Jones Industrial Average gained 38.60 points, or 0.35 per cent, to 11,146.57. The Standard & Poor’s 500 Index gained 2.09 points, or 0.18 per cent, to 1,180.26. The Nasdaq Composite Index gained [...]
