Xchanging scores contract with BAE Systems August 17, 2011 Struggling tech firm Xchanging yesterday boosted its flagging share price by 9.5 per cent with news of a $150m (£90.6m) contract to procure some back-office services for BAE Systems over the next seven years.
Blinkx to host Future’s web magazines August 17, 2011 BLINKX, the world’s biggest video search website, added mountain biking, heavy metal music and gaming to its burgeoning content portfolio yesterday as it penned a partnership with magazine group Future Publishing. Future, which produces magazines such as Metal Hammer and Xbox World 360, will make all of its 100 or so digital magazines available on [...]
Motorola director quits firm August 17, 2011 MOTOROLA director William R Hambrecht (pictured right) has quit the company just two days after Google made a shock $12.5bn (£7.6bn) bid for the phonemaker. Hambrecht had been installed on the board by activist investor Carl Icahn, who had campaigned for the firm to be split in half, which came to fruition in December. The 76-year-old [...]
Bloomberg wins case against pregnant women August 17, 2011 Bloomberg has won a significant court victory after a US judge denied a class action discrimination suit brought against the financial news and media services company by pregnant women. The privately-held New York-based Bloomberg, founded by New York City Mayor Michael Bloomberg, was sued in Manhattan federal court in 2007 by the Equal Opportunity Commission [...]
Hochtief beats forecasts with a jump in orders and airport disposal progress August 17, 2011 GERMANY’S largest builder Hochtief beat forecasts for second-quarter earnings, thanks to a rise in new orders, and said it was pleased with the progress in selling its airports division. The company also confirmed its full-year outlook for 2011-2013, and said it expected its troubled Australian unit Leighton to return to strong performance soon. The group [...]
SAS swings into profit as cost cuts start to pay off August 17, 2011 SCANDINAVIAN airline SAS yesterday beat forecasts as it swung to a second-quarter pre-tax profit yesterday and said it was on track for the full year, lifting its shares up 21 per cent. “I stand by the outlook we gave in the first quarter that we will be in the black for the whole of 2011,” [...]
Eaton Vance attracts less cash August 17, 2011 Asset manager Eaton Vance Corp said quarterly profit jumped 63 per cent, but net inflows of cash from investors declined amid volatile markets. Like other asset managers whose prospects are closely tied to market indices, Eaton Vance investments have been whipsawed by recent market shocks. The concern is that volatility will make investors more reluctant [...]
Sweden can seize Saab assets August 17, 2011 Sweden’s debt enforcement agency is preparing to seize assets of troubled car maker Saab in an attempt to recover at least 4m Swedish crowns owed to parts suppliers. The agency can now seize assets, including any cash in Saab’s bank accounts. Car production at the cash-strapped company, rescued in early 2010 by Netherlands-based Swedish Automobile, [...]
Pearson in line for sale windfall August 17, 2011 Publisher Pearson yesterday unveiled a $115m (£69.4m) windfall from the sale of its government solutions business in 2006. Pearson, owner of the Financial Times and book brand Penguin, sold the US-based government solutions arm to private equity group Veritas five years ago for $600m but retained an equity stake under the name Vangent. Now that [...]
CITY MOVES | WHO’S SWITCHING JOBS August 17, 2011 Stephenson Harwood The law firm has strengthened its projects team by hiring Jonathan Cripps and Rebecca Carter (pictured) as partners. Cripps and Carter join from Eversheds, where they acted for public and private sector infrastucture clients including the Ministry of Justice, the North London Waste Authority and the Office of Government Commerce. The firm has [...]
