Ericsson cuts 1,550 Swedish jobs November 7, 2012 Ericsson yesterday announced a plan to cut 1,550 jobs at its head office in Sweden – around nine per cent of the 17,700 people employed there – following a third quarter profit fall of 43 per cent to 2.18bn kronor (£203m). Tomas Qvist, head of human resources at the Swedish telecoms giant, called the redundancies [...]
Cognizant profits up a fifth November 7, 2012 IT outsourcing firm Cognizant yesterday reported a 22 per cent rise in profits in the third quarter of the year. The US-based company, which provides technology consultancy services to many blue chip companies, said growth was driven by more business from financial services firms. Cognizant, which employs most of its staff in India, saw revenue [...]
Veolia profits drop 25 per cent November 7, 2012 French utility firm Veolia Environnement yesterday reported a 25 per cent drop in nine-month profit, as it sought to reassure investors that plans to reduce debt remained on track. The waste, water and energy firm said it could cut debt by up to €3bn (£2.4bn) in the fourth quarter by divesting several small assets, and [...]
Who’s switching jobs November 7, 2012 Deloitte Michael Lee has been appointed director of Deloitte’s analytics practice. He joins from Detica NetReveal, and is a specialist in using analytics to detect and prevent fraud and financial crime. HSBC Andy Clark has been appointed chief executive at HSBC’s UK asset management branch. He has worked for the bank since 2005, most recently [...]
Best of the Brokers November 7, 2012 ABERDEEN ASSET MANAGEMENT UBS has maintained its “buy” rating on the firm and upped its target price to 370p from340p, after raising multiples to reflect good relative flow prospects for 2013. BLINKX Numis has initiated cover of the video search engine with a “buy” rating and a target price of 104p. The broker sees scope [...]
Re-election joy eclipsed by worries over Eurozone and US economies November 7, 2012 UK stocks fell sharply yesterday after bleak forecasts for the Eurozone economy and fiscal problems in the United States eclipsed initial relief over US President Barack Obama’s re-election. In morning trade the FTSE 100 had hit a level not seen for nearly two months as the Obama win fuelled hopes the US Federal Reserve would [...]
Wall st plunges on fears over US economy November 7, 2012 THE Dow industrials lost more than 300 points in a sell-off yesterday that drove all major US stock indexes down over two per cent in the wake of the presidential election as the looming “fiscal cliff” debate and Europe’s economic troubles returned to the forefront. The Standard & Poor’s 500 Index posted its biggest daily [...]
It was attitudes not demographics that determined the US campaign November 7, 2012 THERE are three things that matter about the US election result, seen from my pollster’s point of view. What do we learn about the role of demographics against attitudes in determining outcome? What might the result mean for the next UK general election? And why did we get that Mitt Romney phantom swing? A lot [...]
The President has a mandate but must now battle the second term curse November 7, 2012 AS AMERICANS congregated around their television sets on election night, all eyes were on Florida. With its 29 electoral college votes, losing the state would put an early end to Mitt Romney’s hopes of winning the White House. But, with quick and decisive victories elsewhere, it was clear that President Barack Obama would win re-election [...]
EU banking union is a vital moment to defend finance November 7, 2012 THE fortunes of UK financial services hang in the balance, as the future of a European banking union is resolved. If we make the right choices now, this could be an opportunity to secure advantages for Britain. By some measures, financial services account for 10 per cent of our GDP and over 10 per cent [...]
