Finance

France Telecom’s new CEO signals continuity

France Telecom’s new CEO sent a message of continuity to markets by pledging to keep cash flow targets and a prudent stance on acquisitions this year, as he named a new management team composed largely of insiders. Europe’s third-largest telecom operator posted in-line revenues and operating profits for 2009, and predicted that sales would be […]

Toyota suffers as recall grows; rivals benefit

Toyota Motor Corp could face an unprecedented recall of eight million cars over problems with sticking acclerators in the biggest ever blow to the reputation of the world’s largest auto maker. The recall and related sales suspension in North America have dented Toyota’s once unshakeable record for safety and reliability and come as its grapples […]

The bottom line

If we are to learn anything from the past year, it is that if you want to achieve business transformation, look first at the basic financial building blocks and make sure you build on a solid foundation. Hilary Robertson, Group BPO Strategy Director, Steria reports

Anguilla: The road ahead

Like all growing international financial centres, 2009 was a tough year for Anguilla economically but the offshore industry continued to weather the storms

Poland has no plan to cede control of Lotos

Poland has no immediate plan to cut its stake at No.2 refiner Lotos below 50 percent and cede control of the company, although such a scenario cannot be ruled out in the distant future, the treasury ministry said. Puls Biznesu daily newspaper reported earlier in the month that Poland, which wants to sell 13 percent […]

Greece pledges to cut deficit

Greece’s three-year fiscal consolidation plan targets a budget deficit of 2.8 percent of GDP in 2012, the finance minister has announced. Greece, whose fiscal ills have prompted ratings downgrades and higher borrowing costs, is under pressure from markets and EU peers to take drastic action to restore its public finances. “According to the plan, the […]

German halt casts shadow over European GDP recovery

Europe’s post-recession recovery has hit a roadblock as German economic growth unexpectedly ground to a halt in the final quarter of 2009, though France made up for some of the damage. The news comes at a hard time for Europe’s single currency bloc as governments struggle to sort out Greece’s debt difficulties and contain financial […]

GM’s Whitacre to stay on as CEO

General Motors Co Chairman Ed Whitacre has said he would stay on as chief executive indefinitely, ending an eight-week search for his successor in a move intended to bring stability to the automaker’s turnaround plans. The announcement confirmed what many analysts and GM insiders had expected after Whitacre, 68, announced on December 1 that he […]

MAN assets shed four percent on AHL

Assets at Man Group fell back four percent to $42.4bn as poor performance from its flagship AHL strategy and profit taking by some institutional clients knocked the group’s recent recovery off course. The world’s largest listed hedge fund manager, which in the autumn began to see assets recover from the effects of the credit crisis, […]

Kenya suspends ministers over graft

Kenya’s prime minister has suspended two ministers over corruption allegations after the president took the same action against eight officials in moves that will please donors but underline coalition divisions

Why Guernsey makes business sense

Guernsey’s successful economy has many defining characteristics, but there are probably three areas which are particularly key, writes Carla McNulty Bauer, Minister of Guernsey’s Commerce and Employment Department

Economic opportunities in Guernsey

Guernsey provides a competitive and stable environment in which to do business, writes Lyndon Trott, Chief Minister of Guernsey

Estate Planning with the Aamil Group

Estate planning was once viewed as a one-time operation. One met with the clients, drafted their plan, reviewed it and signed it. Today, that view is very different, writes Dr. Ludovic C. Verbist, Managing Director of AAMIL Group

Business at the Channel Islands Stock Exchange

The Channel Islands Stock Exchange (CISX) attracts business from all over the world. Its Official List is comprised of 23 countries and more than 200 international issuers who have made it the launch pad for the primary listing and the trading of their securities

Rogue trading: The ultimate fraud

Despite examples of catastrophic investment errors and chequered administration practices, banks rarely close down and their CEOs are seldom dismissed. there are events, however, that can bring banks and their executives to their knees

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