Mobile firms unite to offer apps platform February 15, 2010 A GROUP of 24 telecom companies are clubbing together to build a mobile phone application platform in a bid to compete with Apple. The alliance – which includes O2, Orange and Vodafone – is hoping that its combined customer base of 3bn will allow it to steal market share from Apple’s App Store. Mobile applications [...]
Microsoft to launch new mobile service February 15, 2010 MICROSOFT boss Steve Ballmer yesterday unveiled Windows Phone 7 as the latest weapon in his fight against Google and Apple. The much-anticipated mobile operating system will start appearing on handsets in the second half of 2010, Ballmer said at Mobile World Congress, the industry’s annual trade fair. He added: “Windows Phone 7 marks a turning [...]
CITY MOVES | WHO’S SWITCHING JOBS February 15, 2010 HSBC Private Bank Bassem Snaije has been appointed as head of the London-based Middle East and North Africa (MENA) team at the private bank. Snaije joins from Cosmos Advisors and Pegase Partners Group in Paris, where he was a partner advising on private equity, real estate and M&A deals in the Middle East. He also [...]
ARM men sell £8.5m shares February 15, 2010 SENIOR figures at ARM Holdings, the Cambridge-based microprocessor designer, have cashed out £8.5m worth of shares after the stock soared on speculation its technology is used in Apple’s new iPad. Chief executive Warren East raised £1.8m by selling 937,000 shares last week, leaving him with around 1m shares. Other members reducing their stakes included finance [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 15, 2010 FINANCIAL TIMES MUTUALS CLOSE TO CAPITAL DEAL Building societies are close to finalising details of a new investment instrument that would allow them to comply with tough new capital requirements without compromising their mutual status. According to senior figures in the industry, talks are close to conclusion on the creation of of “mutual ordinary deferred [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 10, 2010 FINANCIAL TIMES BOCOM EYES $500M PRIVATE EQUITY FUND Bank of Communications is to launch a US dollar private equity fund in the latest sign of mounting Chinese interest in the asset class. BoCom International, the bank’s overseas arm, said on Wednesday it was targeting a $500m fund that would invest in mainland groups. The fund [...]
Taiwan phone maker HTC announces plans for £144m of share buybacks February 9, 2010 The world’s fifth-largest smartphone manufacturer, High Tech Computer Corporation (HTC), yesterday said it was planning to buy back up to 15m shares in a deal worth £144m Analysts said the buyback was intended to halt its slipping share price. Taiwan based HTC said that the buyback plan would “maintain the company’s credibility and safeguard shareholders’ [...]
Wolfson in loss after Apple contract ends February 9, 2010 BRITISH microchip maker Wolfson Microelectronics yesterday reported its first full-year loss since its 2003 flotation, after losing a major contract with Apple. The Edinburgh based company was hit after Apple started switching contracts for its iPod Nano and iPod Touch in 2008 to other electronics firms. It is not expected to feature in the iPad [...]
Prius hybrid callback continues to hit brand February 9, 2010 YOUGOV’s BrandIndex shows a steep fall in Toyota’s reputation with consumers following a series of recent recalls of their vehicles. The company has been plagued by a number of problems concerning the reliability of their brakes, accelerator pedals and floor mats. PRIUS HYBRID RECALL EXTENDS Yesterday’s announcement of further recalls of the Prius Hybrid is [...]
Rise of Texas is a lesson for London February 8, 2010 HERE is an intriguing question which says a lot about modern America but which everybody here in London always gets wrong. Which US state is home to most big companies? New York, surely, host to Goldman Sachs, News Corporation and Pfizer? Or could it be California, home of Apple, Intel and Walt Disney? Wrong, on [...]