Microsoft shop set to challenge Apple outlets October 18, 2009 MICROSOFT is set to open its first-ever store in the next few days, as the software maker takes its first step to match rival Apple’s successful venture into retail. Expectations are running high that the store, in an upscale Arizona city, will open this week, to coincide with the launch of Microsoft’s Windows 7 operating [...]
Aviva to offer shares in Dutch arm at a discount October 18, 2009 INSURER Aviva is to offer shares in its Dutch subsidiary Delta Lloyd at a discount, sources familiar with the matter said yesterday, giving the unit a market value of about £2.7bn. The group, which aims to list 30 to 40 percent of Delta Lloyd, is likely to receive 1bn euros (£913m) to 1.3bn euros from [...]
Iceland agrees deal with UK over Icesave October 18, 2009 ICELAND has reached a deal with the British and Dutch governments to reimburse them for compensating savers who lost money in the collapse of Icesave bank, the Icelandic government said yesterday. “An understanding has been reached with the UK and the Netherlands,” a statement from Prime Minister Johanna Sigurdardottir’s office said. Iceland’s parliament approved in [...]
Aer Lingus must cut costs or fail October 18, 2009 Ireland’s Aer Lingus must push through severe cost savings announced earlier this month if it is to survive, the country’s transport minister and 25 per cent stake-holder Noel Dempsey said yesterday. Aer Lingus, which has rapidly been burning through its cash reserves, is to cut almost a fifth of its 4,000 staff to reduce annual [...]
Citi could lose Mexican bank October 18, 2009 Mexico’s Supreme Court will this week investigate whether it should force Citigroup to sell its lucrative Mexican subsidiary, which is 34 per cent owned by the US government following its bailout during the global credit crisis. Foreign governments are generally not allowed to own banks in Mexico, and the nation’s senators have requested the probe [...]
Alizyme investors eye payout October 18, 2009 Investors in collapsed biotech firm Alizyme may receive a small payout after administrator Grant Thornton sold its weight-loss and diabetes drug Cetilistat. Privately owned drugs developer Norgine paid £4.6m for the drug, though the deal has still got to be cleared by the regulators. It is not known how much money would be passed to [...]
Ad industry to fight back October 18, 2009 Advertising Association chief executive Tim Lefroy will this week urge members to retaliate against dwindling public trust in advertising, after a survey found that only 15 per cent of adults “generally” trust advertising. Lefroy blames lobbyists for the lack of trust. Advertisers such as Barclays, Unilever and Diageo are uniting to provide a fund into [...]
Shortage tips house prices 2.8pc higher October 18, 2009 AVERAGE asking prices in the UK are now higher than they were a year ago as a shortage of stock pushed up property prices by 2.8 per cent, the biggest October rise in six years, according to recent data from Rightmove. London asking prices also surged by 6.5 per cent to a record high of [...]
BAA lawyers start airport sale appeal October 18, 2009 AIRPORT owner BAA will today challenge the Competition Commission’s (CC) ruling to make it sell three of its seven UK airports. The CChad said Spanish-owned BAAshould dispose of Gatwick, Stansted, and either Glasgow or Edinburgh, as it dominated the UK airport market.But BAA, eager to hold on to Stansted airport at least, is challenging the [...]
Financial officers believe future looks promising October 18, 2009 FINANCIAL optimism is at its highest level for two years, according to a new survey of chief financial officers by Deloitte released today. But while those polled are full of optimism for their own companies, they do not foresee a strong recovery throughout the sector. Growth next year is expected to remain sluggish by 73 [...]
