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October 29, 2007
by Kay Murchie
Skype is a software that allows you to use your computer and internet connection to communicate with anyone and is the best-known provider of conversation over the internet.
Ebay division, Skype, and the mobile phone provider 3 have launched a mobile handset that lets users make free calls over the internet.
The phone is being launched in 9 markets including the UK, ...
by Kay Murchie
Coca-Cola has developed a new drinks can which can be re-sealed. It works by using a flat plastic tab that swivels over the can's opening.
Coca-Cola has been testing the can in Jersey and Guernsey and the group is now assessing the idea and considering whether to roll it out further. However, there are no plans as yet to sell the cans in ...
by Kay Murchie
There has been speculation over the weekend that Merrill Lynch’s Chief Executive, Stan O’Neal, who took up the top job 5 years ago, is to leave the US investment bank. If he does step down, the 56-year-old will be entitled to a multi-million dollar severance package. The Chief Executive earned $48 million last year.
The bank’s directors have been in discussions ...
by Kay Murchie
LK Bennett, the womenswear fashion house famous for it shoe chain is up for sale at £150 million. LK Bennett employs 600 staff in 74 stores, including 1 in Paris and 3 in Ireland.
The business was founded and owned by Linda Bennett, who tried to sell the business in 2004 for £75 million, suitors included 3i but they ...
October 26, 2007
by Stewart Douglas
Software giant Microsoft has today announced strong profit figures for the last quarter as a result of strong sales in its operating system Windows Vista and its relatively young video game market continued to bring strength to the world's biggest software company.
The world's largest software company today reported a substantial increase in profit figures over the first quarter of its ...
by Stewart Douglas
The Qatar based firm behind the proposed takeover of supermarket giant Sainsbury's has today said it will go ahead with plans to increase its offer by as much as £500 million, to provide more weight to its 600p per share bid.
Investment group Delta Two, funded by the Qatari royals, is hoping to offer £500 million extra in its cash offering, ...
by Elaine Frei
Crude oil prices jumped again Friday as geopolitical factors affecting or potentially affecting oil production just will not resolve and as the dollar weakened again.
Brent crude added 62 cents to $88.10 per barrel on the ICE Futures Europe exchange in London, while December contracts for West Texas Intermediate crude closed $1.40 higher at $91.86 per barrel after going as high as $92.22 in ...
by Elaine Frei
Asia-Pacific stocks were higher Friday. In Hong Kong, the Hang Seng index added 1.84 percent to 30,405.22, closing over 30,000 for the first time and setting a new closing record after rising to 30,562.63 during the session for an all-time intra-day high. Meanwhile in South Korea the Kopsi index gained 2.6 percent to 3,038.06 for that index’s ...
by Kay Murchie
The battle for jeans costing less than £15 and £3 vest tops has just got more brutal following the news that Primark will overtake George at Asda as the UK’s most popular value clothing retailer.
Analysts have forecast that Primark, the Irish-based fashion chain, will take an 18.4% share of the value clothing market this year.
Primark will increase sales in the ...
by Kay Murchie
Shares in PartyGaming, the online gambling operator, jumped 11% yesterday after rapid growth in revenue from its casino and sports-betting units more than offset a slowdown for its core poker business.
PartyGaming, owner of the PartyPoker online betting group, said third quarter revenues increased 24% and the company said it was confident about prospects for the full year.
The Gibraltar-based company’s shares jumped ...
by Kay Murchie
Sir Philip Green, the British billionaire businessman and clothing guru, has announced strong sales growth at his Arcadia fashion chain in spite of a challenging summer for High Street fashion chains.
Sir Philip owns the Arcadia fashion empire with his wife Tina and the chain includes Burton, Topshop, Dorothy Perkins and Miss Selfridge.
Profits at the group increased from £288.6 million to £293.3 ...
by Kay Murchie
The huge success of the Nintendo Wii computer games console has taken everybody by surprise, including Nintendo, making it a Christmas gift winner.
Analysts said Nintendo Wii sales have been particularly strong in the last 2 months, even outselling the popular PlayStation 3 by Sony.
Nintendo announced yesterday that it expects to sell 17.5 million Wiis worldwide this year, 1 million more ...
October 25, 2007
by Elaine Frei
Crude oil prices rose to new highs in both New York and London on Thursday as the President of Turkey threatened more attacks on Kurdish-controlled northern Iraq, as the United States imposed new sanctions on Iran, and as traders continued to react to Wednesday’s US inventories numbers.
West Texas Intermediate crude for December delivery added $3.36 to $90.46 per barrel on ...
by Elaine Frei
Asia-Pacific equities markets were mixed on Thursday. Taiwan’s Taiex was 1.33 percent higher to 9,568.26 while in India the Sensex was up 1.39 percent to 18,770.89. In Singapore, the Straits Times index gained 1.59 percent to 3,707.14. The Hang Seng index added 1.78 percent to 29,854.49 in Hong Kong, while South Korea’s Kospi index jumped 2.24 percent to ...
by Stewart Douglas
Telecomms technology giant Ericsson has today lost its chief financial officer amidst poor performance over the third quarter which saw profit figures fall by over one third, in a move that will likely cause further disruption to the Swedish business.
Chief Financial Officer Karl-Henrik Sundstrom has today announced his resignation, shortly after the company posted some of its weakest results in recent memory. The ...
by Stewart Douglas
No-frills airline Easyjet has today announced it has acquired UK-based GB Airways in a deal thought to be worth in excess of £103 million which will see the company expand its fleet over the next few months.
The low cost airline announced today that it will acquire the assets and business of GB Airways, excluding its Heathrow operation, in a move that will see ...
by Kay Murchie
GlaxoSmithKline (GSK), Europe’s second largest company is to axe 7,600 jobs worldwide and British workers will be affected.
The company employs over 100,000 people worldwide and warned yesterday that some of the 22,000 employees in Britain will “inevitably” be at risk. The drugs giant has sites at Dartford, Worthing, Maidenhead, and Ware.
Jean-Pierre Garnier, Chief Executive, said unfortunately there will be factory closures ...
by Kay Murchie
Talkmobile, a new low-cost mobile service, has been launched by Vodafone and Carphone Warehouse which suggests they have worked through their problems after a disagreement 12 months ago.
In October 2006, Vodafone signed an exclusive deal with Phones4u to sell to UK contract customers while dumping Carphone Warehouse in the process. As a result, some £446 million was wiped ...
October 24, 2007
by Stewart Douglas
Software giant Microsoft has today invested $240 million in a minority stake in the world's largest social media site, Facebook, valuing the company at in excess of $15 billion just four years after its establishment in accordance with its 1.6% equity stake.
Facebook has taken the Internet by storm as part of the so-called Web2.0 phenomenon, allowing its members to interact on a ...
by Stewart Douglas
Investment banking firm Merrill Lynch has today announced a significant downturn in profit figures over the third quarter as a result of market volatility particularly in the US sub-prime sector, seeing it heading in a similar direction to many other global investment banks.
The figures released today for the period reflected a downturn of just under $8 billion, its first reported loss in ...
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