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Phone giant’s decline has a knock-on effect

first_img Vodafone AirTouch, the global mobile phone giant, saw its share price falter last week. It retreated to its lowest level in at least three weeks. The decline in Vodafone’s stock price had a direct knock-on effect on the FTSE 100 index. The index of leading UK companies came under sustained pressure last week as it struggled to hold on to its recent gains. Investors remain cautious about the direction of interest rates on both sides of the Atlantic. The telecoms sector has not been red hot with investors in recent weeks. The exit of some high-profile names such as Baltimore Technologies, Kingston Communications, Thus Telecom and Psion from the UK top index seems to have diluted investor optimism, at least in the short term. Also, the relative calm in the sector largely explains the somewhat dull markets with low volumes of transactions. BT deals promise hot stuff in the telecoms sector BT’s proposal to set the sector alight involves making various strategic acquisitions. Last week, the company announced that it intends to buy media companies as part of its strategy to build strong broadband Internet business. The company has hinted that it is even prepared to hatch a deal to rival the one struck a few months ago between America Online and Time Warner. It has also emerged that BT could even consider seeking an Initial Public Offering for Openworld, its broadband Internet subsidiary. BT is reported to be actively contemplating media targets, which it can then use to provide content for its Internet operations. BT has its fingers in so many pies but appears unable to harvest value from its vast empire. Many market analysts are frustrated that shareholders have been denied access to all the nectar and blame the company’s poor performance on the stock markets on the management.Cross-Channel ad rivals announce $1.89bn collaborationSaatchi & Saatchi, the UK advertising company, and Publicis, its French rival, announced that they were tying the knot with a $1.89bn agreed deal. The all-paper transaction puts the combined company in fifth position in world rankings. But as if that was not enough, both companies are now in talks with Cordiant about possible merger. If the talks are successful, all three companies will be able to amalgamate their subsidiary businesses. Saatchi & Saatchi and Cordiant own Zenith Media between them while Publicis is parent to Optimedia.Business-to-business provider admits loss of £2mJust2Clicks, the UK business-to-business (B2B) provider of Internet platforms, which floated on the London stock markets in February raising £50m, said last week that it made a loss of nearly £2m for the trading period to the end of March. The company also urged new entrants to join its business sector so that e-commerce, particularly B2B, can develop at least in the UK. Just2Clicks, whose stock price has massively underperformed the market so far, was resilient last week despite the news of the trading loss. Phone giant’s decline has a knock-on effectOn 27 Jun 2000 in Personnel Today Previous Article Next Article Comments are closed. Related posts:No related photos.last_img read more

ConocoPhillips adds new board member

first_imgHouston-based energy giant and LNG player ConocoPhillips has elected Sharmila Mulligan, founder and chief executive officer of ClearStory Data Inc., to serve as a board member.Mulligan spent her career building innovative software companies, most recently founding ClearStory Data Inc. in 2011. She previously served in senior roles at numerous software companies, including Aster Data, Hewlett-Packard, Netscape and Opsware Inc.“We are pleased to add a new director who brings technology expertise to our board,” said Ryan Lance, chairman and chief executive officer of ConocoPhillips.“Sharmila’s experience in cloud computing, scalable data analytics and a broad range of big data technologies will add exceptional value to our board of directors as we increasingly utilize our global data assets to monitor and optimize our operations. We look forward to her contributions as we continue to execute the company’s value proposition to deliver double-digit returns to our shareholders,” said Lance.Mulligan serves on the board of Lattice Engines and serves as an advisor to numerous other technology companies. She holds bachelors’ degrees in business and economics, as well as computer science, from Northwestern University. She also holds a master’s in management from Northwestern’s Kellogg School of Management.The appointment of Mulligan increases the number of ConocoPhillips directors to 11, of which 10 are independent. Mulligan will serve on the Audit and Finance Committee and Public Policy Committee of the ConocoPhillips board.last_img read more

Kiffin cuts post-practice interview short

first_imgEvery Tuesday through Thursday morning, USC coach Lane Kiffin meets with media members following football practice, first summarizing the day’s session and then fielding a handful of questions.Tight-lipped · USC coach Lane Kiffin believes disclosing injury information in advance of games puts his team at a disadvantage. – Carlo Acenas | Daily TrojanBut Kiffin abruptly ended his interview on Wednesday after roughly 28 seconds in response to a question about a previously injured player’s return to practice.“Really good practice today,” said Kiffin to begin the media session at Howard Jones Field. “I thought the offense came out and was really crisp in both the running game and the passing game.”In response to his opening statement, a reporter asked whether Kiffin thought the improved offensive performance was a “function” of the injured player’s return to practice in preparation for Saturday’s game against California.“I don’t know,” Kiffin replied.Midway through the next question about senior safety T.J. McDonald’s pass-rushing role against Stanford last Saturday, Kiffin simply said, “I gotta go,” brushed past a handful of reporters and jogged away.He did not speak with the media further.USC instituted a new policy in August preventing credential media members from reporting injury-related news they observe during practice. Citing the competitive disadvantage those reports create, Kiffin has also instructed his players not to comment on their respective injuries.Last week, Scott Wolf, a reporter from the Los Angeles Daily News, had his USC football media credentials revoked for two weeks after he reported sophomore kicker Andre Heidari had undergone knee surgery and would be sidelined for three weeks.Heidari had not played in the team’s Sept. 8 game against Syracuse in East Rutherford, N..J.Upon appeal, the ban was lifted, and the reporter was reinstated two days later.“I apologize if that was taken the wrong way,” Kiffin said last Thursday following Wolf’s reinstatement. “We viewed it differently. There’s not necessarily a right or wrong. The editors and our people are going to try and get together so you people can do your job the best you can and also for us not [to compromise] a competitive advantage. I know it’s not exactly the best thing for you, but we’re also trying to protect our team, too.” Joey Kaufman contributed to this report.last_img read more