Business planning
Volkswagen is evaluating the expansion of its €2 billion cost-cutting plan, just three months after its unveiling, due to the challenging German market. The existing plan, dubbed ForMotion, was criticized by Standard & Poor's, which downgraded VW's credit score and warned of potential future downgrades. The
Business planning
Nokia, the world's largest producer of mobile phones, has admitted its market share in the first quarter fell to 32 percent, a sharper decline than initially indicated. Despite this setback, the company is holding onto its long-term target of gaining 40 percent of the global handset market. However,
Business planning
As part of its bid to boost its appeal and profile, Accor, Europe's largest hotels group, will become the largest shareholder in Club Mediteranee after paying Euros 252m for a 28.9% stake. The deal, which represents a 31% premium over the company's closing price, is
Business planning
The indebted hotels group Queens Moat Houses plans to sell its UK, German, and Dutch businesses to Pedersen Group, Soros Private Equity, and Bridgepoint, respectively, in a deal worth £410m. The sale comes after speculation that a bid might be made for the group, with Goldman Sachs taking a large
Business planning
Madisons Coffee, seeking to expand its restaurant arm, has announced plans to issue 30 million new shares to fund a potential acquisition. The company, which sold its coffee operations in November to focus on Richoux restaurants, is now under the leadership of Andrew Guy, former CEO of The Restaurant Group.
Business planning
Luc Vandevelde and Roger Holmes will leave Marks & Spencer (M&S) immediately, the company announced, succumbing to shareholder pressure amidst an expected £10 billion takeover bid from entrepreneur Philip Green. Stuart Rose, the former Arcadia executive, will replace Holmes as CEO, bringing a new team, including Charles Wilson
Business planning
Slovakia has undergone a remarkable transformation over the past 18 months, emerging as a leading car assembly site for central and eastern Europe. The country has won a significant share of recent investment in the sector, with major players PSA Peugeot-Citroen and Kia selecting Slovakia as the site for their
Business planning
As reported in The Financial Times, chief executive pay in the UK rose by 168% between 1998 and 2003. However, during the same period, the FTSE All-Share index declined by 16%, and the net dividend paid on the All-Share increased by only 3%. Meanwhile, the gross value added at factor
Business planning
Rentokil Initial, the business services group, is facing significant challenges in achieving growth in its high-margin businesses of hygiene services and pest control. The departure of Sir Clive Thompson as non-executive chairman has raised questions about the company's short-term focus on meeting profit expectations, rather than its long-term
Business planning
The sale of part of Hong Kong Telecom (HKT) to China Netcom, a mainland China fixed-line telecoms operator, has sparked speculation and concern in the market. Richard Li, controlling shareholder of PCCW, HKT's parent company, is planning to sell at least part of HKT to China Netcom, in
Business planning
Levi Strauss, a privately-owned company, is exploring the sale of Dockers, one of the world's largest casual clothing brands, to ease its debt burden and focus on its Levi's jeans brands. The company has hired Citigroup to find a buyer for the brand, which generates worldwide
Business planning
Ebookers, the online travel group, reported a significant increase in sales growth, driven by high-margin products such as car rental and package holidays. Non-flight sales, which yield higher margins than air-ticket sales, accounted for 40% of revenues in the first quarter, up from 29% a year ago. The company'
