Cap Gemini gets to grip with costs 31 Oct 2002 The French IT services firm has calmed fears that it won t make it through the cycle without raising capital. But the shares already discount part of the next upturn.
Fiat recapitalises auto business 31 Oct 2002 Actually, all it appears to be doing is cancelling intracompany loans to its ailing auto business, not injecting fresh capital.
Hays warns of 10-15% profit shortfall 31 Oct 2002 A deteriorating environment may well be partly to be blame. But so, undoubtedly, has been the long absence of a CEO. The new boss, who joins next week, will have his work cut out. At least the slate has been wiped before his arrival.
Investors claim victory in Marzotto battle 31 Oct 2002 In a seemingly rare coup, minority shareholders in Zignago blocked a deal with Marzotto that hurt their interests. But would they have won if the Marzotto family were not feuding over the future of the Italian clothing group?
Deutsche Bank turns in a lousy Q3 31 Oct 2002 Deutsche has not managed to escape the troubles besetting its German peers, and has taken a whopping E790m provision for bad debts. On top of that, revenues have slumped. True, planned cost savings are on track. But they were not enough to compensate.
HVB and Bauer to buy Kirch Media 31 Oct 2002 Foreign bidders, including former Kirch shareholders, have lost out in the sale of Germany's leading broadcaster. They didn't have the locals' stomach for paying a fat price.
Nycomed sold by one private equity group to another 30 Oct 2002 The E1.1bn transaction driven by the dearth of trade buyers and the inability to launch an IPO may look like a game of pass the parcel. To the ultimate investors, the transaction may look odd. But from the perspective of the private equity firms, it is entirely logical.
Vivendi rejects Vodafone’s Cegetel offer 30 Oct 2002 Vodafone's E6.8bn bid for the conglomerate's 44% of Cegetel is inadequate "as it stands", says the conglomerate. Vodafone remains adamant that it wont pay a penny more. Really?
Latin America weighs again on SCH and BBVA 30 Oct 2002 Spain s two biggest banks must wish that Latin America was more like Europe. Negative real interest rates in Spain means domestic business is booming. The reverse is true for their Latam businesses.
Tesco in £530m bid for T&S corner shops. 30 Oct 2002 Tesco should be able to drive turnover at T&S, using margin gains to cut prices. The UK supermarket chain would increase the number of its Express stores fivefold, buying into the faster growing urban market.
Alcatel flatters to deceive 30 Oct 2002 The French telecoms equipment group has taken advantage of falling sales to squeeze working capital and cut debt. This is unsustainable. Costcutting will still determine whether Alcatel remains viable in its current form.