M&B grabs rival exec as new CEO September 10, 2012 PUB chain Mitchells & Butlers (M&B) yesterday ended its 18-month search for a new chief executive, poaching Alistair Darby from rival group Marston’s. Darby, who served as chief operating officer at Marston’s, will join M&B at the start of next month. The appointment caps a turbulent period for the company, which last year saw off [...]
Nokia launches conduct review after ad shame September 10, 2012 NOKIA yesterday attempted to limit the embarrassment caused by misleading adverts for its new smartphones by promising to conduct an ethics review into its business practices. The embattled handset manufacturer, which unveiled its flagship phones last week, was accused of deceiving consumers when a promotional film for its Lumia 920 phone’s video shooting technology was [...]
London salutes British heroes September 10, 2012 LONDON’S streets overflowed with pride yesterday as an estimated million people cheered Great Britain’s Olympic and Paralympic heroes through the city, bringing down the curtain on a glorious sporting summer. Some 800 athletes, including cyclist Sir Chris Hoy, swimmer Ellie Simmonds and heptathlete Jessica Ennis, took to floats for the parade from Mansion House to [...]
Infosys tries to buck outsourcing slowdown by buying Swiss firm September 10, 2012 SOFTWARE exporter Infosys said yesterday it had agreed to pay 330m Swiss francs (£218.4m) for Lodestone, a Zurich-based technology consultancy. Infosys, which has seen outsourcing income in its home country of India and in key US and UK markets hit by increased competition and the global slowdown, said the purchase was part of a strategy [...]
Heineken’s APB takeover faces 11th hour threat September 10, 2012 DUTCH beer group Heineken was hit yesterday by the threat of a late challenge to its crucial takeover of the maker of Tiger Beer. Shares in the firm fell on reports that Thai drinks company ThaiBev is looking for a loan of 9bn Singaporean dollars (£4.6bn) to fund a purchase of Fraser & Neave (F&N), [...]
British inventor of first laptop computer Bill Moggridge dies September 10, 2012 THE BRITISH inventor of the laptop computer, Bill Moggridge, has died aged 69 after a battle with cancer. The industrial designer created the Grid Compass computer in 1979. It was the first device of its kind to marry a screen and a keyboard connected by a pair of hinges, a design which revolutionised the portable [...]
Figures reveal GDP decline in France and Italy September 10, 2012 THE FRENCH economy shrank in the third quarter of the year, according to updated estimates released yesterday, while the pace of Italy’s economic decline appears to be worse than previously believed. France, the second largest economy in the Eurozone, will lose 0.1 per cent of GDP in the three months to September, its central bank [...]
Fresh calls for asset purchases after US consumer debt shrinks September 10, 2012 US CONSUMER credit shrank in July, the Federal Reserve revealed last night, the first fall for nearly a year. The change surprised analysts and gave yet further impetus to the calls for another programme of asset purchases. Driven by Americans paying off credit card debt, consumer credit shrank by nearly $3.3bn (£2.1bn) in July, compared [...]
South Korean stimulus fails to stir markets September 10, 2012 SOUTH Korea will engage in additional fiscal stimulus, in order to carry its export-driven economy through the world slowdown, it announced yesterday. Policymakers in Seoul cannot do anything about their beleaguered export markets directly, and are therefore adding nearly £3.3bn worth of stimulus to the near-£4.5bn announced in June. But markets were disappointed by the [...]
Sluggish demand at home and abroad knocks Chinese trade September 10, 2012 CHINESE export growth disappointed last month according to trade data released yesterday, increasing the prospect of more monetary and fiscal stimulus from Beijing authorities. Exports were up 2.7 per cent compared to August last year, yet growth is being weighed down by weak demand in areas such as the Eurozone. And imports shrank by 2.6 [...]
