Two-thirds of London businesses are struggling to hire due to a shortage of skilled workers September 4, 2014 London’s businesses are calling out for skilled workers but 66 per cent have struggled to recruit the highly skilled workforce they need, according to research released yesterday by the Confederation of British Industry (CBI) and professional services firm KPMG. As a result nearly half of London’s companies (45 per cent) now say that there is [...]
Google settles 10-year legal spat with LVMH September 4, 2014 SEARCH giant Google and luxury goods group LVMH Moet Hennessy Louis Vuitton yesterday announced they had settled a decade-long legal dispute over counterfeit goods being advertised online. LVMH had complained that Google was selling ads that infringed on its trademarks and linked to counterfeit products for sale. Yesterday’s settlement will see both firms work together [...]
Getty Images taking Microsoft to court over new Bing Widget online photo tool September 4, 2014 Microsoft has launched a new online product that Getty Images says allows website publishers to embed digital photographs on their sites and is a “massive infringement” of copyrighted images, the photo agency claimed in a lawsuit filed in federal court in New York yesterday. Microsoft’s Bing Image Widget, released on 22 August, gives publishers the [...]
Chemicals firm Alent sees boss Corbett resign September 4, 2014 Speciality chemicals maker Alent announced yesterday that its chief executive Steve Corbett would step down immediately, and its assembly materials division president Rick Ertmann would take over as interim chief executive. Shares in the company fell as much as three per cent during early morning trading yesterday after the company did not announce a reason [...]
Paddy Power bets on retail head to be new chief executive in 2015 September 4, 2014 BOOKMAKER Paddy Power yesterday named its head of UK and Ireland retail operations Andy McCue as successor to chief executive Patrick Kennedy, who departs at the start of next year. The appointment followed what Paddy Power chairman Nigel Northridge described as an extensive international search of candidates: “We were very pleased, if unsurprised, with the [...]
Standard Life signs £2.2bn deal to sell Canadian arm September 3, 2014 Edinburgh-based insurer Standard Life last night announced it has clinched a C$4bn (£2.2bn) deal to sell its Canadian operations to Toronto-based insurer Manulife Financial. The sale will see Standard Life shareholders receive a £1.75bn windfall, or 73p per share, as part of the deal that also sees the two firms agree a collaboration agreement that [...]
Perform Group’s board rejects £700m Len Blavatnik offer September 3, 2014 Directors at London-listed internet sports distribution firm Perform Group yesterday rejected the £701.6m takeover bid by Ukrainian-born billionaire Len Blavatnik’s investment group Access Industries. Perform – which floated in 2011 and supplies video clips, live action and sports news and data to media groups and online bookmakers – saw its shares soar 26.35 per cent [...]
Balfour sheds US design arm September 3, 2014 CANADA’S WSP Global is set to buy Balfour Beatty’s US design division Parsons Brinckerhoff for £820m, the business arm that had been a stumbling block for Balfour’s failed £3bn merger with rival Carillion. The deal will allow WSP to expand in the UK and give it a stronger presence in growth regions. Balfour said it [...]
US economic growth steady September 3, 2014 THE US recovery is on a relatively strong footing, the Federal Reserve said last night, as its car industry shows strong growth and banking conditions improve. In its Beige Book report of anecdotal information on business activity collected from contacts across the US, the Fed said six of its 12 districts reported “moderate” economic growth. [...]
Germany’s €6bn mega-float puts London on notice September 3, 2014 Europe’s biggest online fashion player Zalando, a rival to Britain’s Asos, plans to raise more than €500m (£399m) to fund its expansion by listing a stake on the Frankfurt stock exchange. The announcement comes as London’s tech community launches a fight back to maintain its lead over its European rivals. Yesterday, the Coalition for a [...]
