Low tax boosts investment and jobs in the UK July 23, 2013 INVESTMENT from overseas jumped in 2012, official figures showed today, with business groups praising the UK’s falling corporate tax rate for stimulating the flow of cash. Foreign direct investment (FDI) produced 1,559 projects in 2012-13, UK Trade and Investment said, up 11 per cent on the year. New jobs from the investment increased 12 per [...]
Apple surprises with strong rise in iPhone sales July 23, 2013 SALES of Apple’s iPads fell more than expected in the third quarter, the US tech giant revealed last night, but strong iPhone sales surprised the market and sent shares up in after hours trading. And the firm hinted at new product announcements in the autumn, widely expected to include another update to the iPhone. The business [...]
Pressure rises on banks as they agree to publish local loan data July 23, 2013 BRITAIN’S biggest banks will face even more public pressure and scrutiny as they publish detailed lending figures every quarter starting next year, the Treasury will announce today. The seven largest lenders will make public their business, mortgage and unsecured consumer lending figures, listed by postcode. It is part of a long drive to put pressure [...]
Wall Street titan KKR loses CEO of Financial Holdings subsidiary July 23, 2013 US PRIVATE equity giant KKR yesterday lost one of its top lieutenants after specialty finance boss Bill Sonneborn announced his retirement at the age of 43. Sonneborn, a Goldman Sachs M&A alumni, heads KKR’s asset management unit and is also chief executive of its publicly listed subsidiary KKR Financial Holdings (KFN), which invests in corporate [...]
Swisscom boss found dead July 23, 2013 SWISSCOM chief executive Carsten Schloter was found dead at his home yesterday in a suspected case of suicide. An investigation into the exact circumstances of his death is underway, Swisscom said in a statement. Schloter, 49, became chief executive in 2006.
Telefonica pays £7bn for E-Plus phone network July 23, 2013 TELEFONICA, the company behind O2, yesterday agreed to buy a German mobile phone network for €8.1bn (£6.96bn) in a deal that could herald a new wave of industry consolidation. The Spanish communications giant will take control of E-Plus from Dutch group KPN for €5bn in cash and a further €3.1bn in shares. Although the deal still [...]
Vivendi sells Maroc stake July 23, 2013 VIVENDI said yesterday it had entered into exclusive talks to sell its majority stake in Maroc Telecom to Abu Dhabi-based Etisalat for €4.2bn (£3.6bn) in cash. The deal, when finalised, would be the first major divestment by the French conglomerate as part of its strategy to reduce exposure to capital-intensive telecoms and focus more on [...]
Premium bond prize fund cut July 23, 2013 SAVERS in premium bonds will see returns fall from next month as the payouts from the instruments are cut, National Savings and Investments said yesterday. Instead of receiving interest in the conventional way, the 22m investors stand a chance of winning prizes of up to £1m each month. The overall pot is being cut from £57m each [...]
Bentley invests £800m to build new car in Crewe July 23, 2013 LUXURY car firm Bentley is to build its first SUV model at its Crewe factory, a decision that it says will create 1,000 British jobs. Bentley will invest £800m in its Crewe headquarters and new model development over the next three years. The new SUV will go on sale in 2016. The company, owned by [...]
Chinese police interrogate two more AstraZeneca employees July 23, 2013 CHINESE police yesterday questioned two more employees from AstraZeneca, as the country’s probe into multinational pharmaceuticals firms deepens. The British-Swedish company confirmed just days ago that one of its sales representatives had been questioned by the authorities. “The Shanghai Public Security Bureau has asked to speak with two line managers with whom this representative has [...]
