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‘Companies’ Categoría
Zurich’s Insights Magazine Focuses on Risk in Real Estate Sector
Switzerland (Revista E) - Zurich Financial Services Group’s (Zurich) latest issue of Insights Magazine, its online customer magazine, focuses on risk in the real estate sector. Topics addressed include how to deal with vacant property, the promise of green building methods, protecting property from hurricanes and wind, and some of the practical steps owners can take to limit their liability exposure to slips, trips and falls.
RBS Announces its 2009 Annual Results
Scotland (Revista E) - The Royal Bank of Scotland Group announced its 2009 annual results. Stephen Hester, CEO of RBS Group, reported a loss of £3.6 billion. He said that RBS has clearly signposted the way towards the full process of rebuilding and recovery. Hester commented on RBS core businesses constituting the RBS of the future which made £8 billion of profits in 2009. He also confirmed that RBS have reduced its balance sheet by nearly £700 billion in 2009 and the company is already.
‘Natural Gas Important for Overcoming Climate Challenge’, Says Statoil
Copenhagen (Revista E) - Major reductions in carbon emissions cannot be achieved in the short and medium term without a bigger commitment to gas, said Statoil’s chief executive Helge Lund at a meeting held by the International Gas Union. He arrived in Copenhagen on 13 December, in connection with the UN climate summit to present his views on the contribution natural gas can make to a sustainable future. Carbon emissions can be substantially reduced by replacing coal with natural gas, he said. Gas is also important for realising new energy forms, in part as a back-up for intermittent wind power. He emphasised that no quick fix exists for a non-carbon future, but that natural gas as an energy bearer and carbon capture and storage (CCS) as a technology could give good results.
Ericsson to Acquire Nortel’s North American GSM Business
US (Revista E) - Ericsson was selected as successful bidder to acquire certain assets of the Carrier Networks division of Nortel relating to Nortel’s GSM business in the US and Canada. The purchase is structured as an asset sale at a cash purchase price of USD 70 million on a cash and debt free basis, subject to adjustments. This announcement follows the completion of the auction process initiated by Nortel, and the transaction is subject to approval by courts in the US and Canada and customary regulatory approvals and other conditions.
Saab Group announces first nine months 2009 financial results
Stockholm (Revista E) - Saab’s order bookings for the first nine months of 2009 amounted to SEK 11,381 (approx. US$ 1,654) million compared to SEK 16,050 (approx. US$ 2,332) million during the same period last year. Sales increased by 8 percent to SEK 16,879 (approx. US$ 2,453) million, an increase of 9 percent adjusted for divestments and exchange rate effects.
SAP’s Spanish edition World Tour 2009 starts tomorrow in SIMO Network
Madrid (AGENCIES) - SAP’s Spanish edition World Tour 2009 will start tomorrow, on September 24, inside the fair SIMO Network. An event that is celebrated in more than 70 cities and 50 countries of the whole world, and that in the last years it has congregated to more than 240.000 assistants.
The professional character of the fair has led SAP to realizing a strong bet in this SIMO’s new edition. The company has taken part with an important unfolding in a clear bet for the transparency and the innovation, across an offer of solutions which the companies can act with agility, responsibility and clarity.
In the event the company has been present with 18 partners of the area of the small and medium company, they are celebrated near 20 meetings in which Spanish companies of different sizes and sectors explain how CRM has helped SAP’s solutions to improve his business, and 11 meetings products, where Business Intelligence has appeared the advances and technological innovations in environments of mobility, microvertical, and his offer completes for the segment of the small and medium company. In addition, SAP has taken part in the Program of Conferences, organized by the Instituto de Empresa, with his intervention in the round tables on Cloud Computing and mobility in the small and medium company.
The economic world crisis has led to the company to presenting an offer of solutions that help to the companies to be more transparent, at the time that it has introduced changes in his own management to achieve this aim.
Pittsburgh G-20 Summit: PNC Economist Says Transformation Of Local Economy From Old Industrial To Modern Mix Attracts Global Financial Leaders
P.A. (Revista E) - Pittsburgh prepares to welcome the global leaders attending the G-20 Economic Summit (Sept. 24-25) and the international media. Stuart Hoffman, Ph.D., chief economist at The PNC Financial Services Group, Inc., shares his insight about this prestigious gathering and the transformation of Pittsburgh’s economy from its industrial past to its leading role today in technology, healthcare and more.
Toyota lost 568 million Euros in the second quarter
The Japanese manufacturer of vehicles Toyota Motor announced today that between April and June it lost 77.800 millions of yenes (568 million Euros) and, though district attorney waits for red numbers for all the year round, improved his sales forecasts and results.
In the same period of the previous year, the first world manufacturer had a net profit of 353.660 millions of yenes (2.583 million Euros), but in the first quarter of the year, between January and March, it had lost 765.800 millions of yenes (5.590 million Euros).
The first manufacturer of the world said today that the fiscal year 2009, which it finishes in March, 2010, will sell 6,6 million vehicles, opposite to 6,5 millions that it predicted in May, and it will lose 450.000 millions of yenes (3.287 million Euros), opposite to his previous forecast of 550.000 millions of yenes (4.017 million Euros).
Porsche prepares sale of options

Stuttgart. Porsche Automobil Holding SE, Stuttgart, is in advanced talks on the sale of the cash settled options with respect to Volkswagen shares to one or several investors. Amongst these investors is especially Qatar Holding LLC (QH) with whom talks about an investment in Porsche SE also is underway.
The preparation for the sale of the options on Volkswagen shares leads to a devaluation resulting in a substantial book capital loss. Nevertheless Porsche improves its liquidity situation through the sale of the options structure as it would lead to an inflow of cash in a magnitude of more than one billion Euro, currently serving as cash collateral for the options structure.
Another non cash relevant book loss derives from the initial full consolidation of Volkswagen group. With the increase of the stake in VW to 50.76 percent on January 5 2009 Porsche was obliged to fully consolidate Volkswagen. This triggered a so called Purchase Price Allocation (PPA) under which all assets and liabilities of the part group Volkswagen had to be valued and compared with the price paid for the shares to get to the company’s valuation. This results in a substantial negative impact. Overall the two measures should lead to earnings before taxes for fiscal year 2008/09 of up to minus five billion Euro.
It is important, that the devaluation of the options and the consequences of the PPA are purely accounting related. They do not effect the valuation of the 50.76 percent stake in common shares in Volkswagen AG on Porsche’s balance sheet.
For Porsche SE the big advantage in the devaluation of the options lies in the improvement of liquidity available. Furthermore the equity ratio after these to steps still is a sound 23 percent.
Microsoft, Yahoo! Change Search Landscape
Global Deal Creates Better Choice for Consumers and Advertisers
SUNNYVALE, CA and REDMOND, WA - 29 July, 2009 - Yahoo! and Microsoft announced an agreement that will improve the Web search experience for users and advertisers, and deliver sustained innovation to the industry. In simple terms, Microsoft will now power Yahoo! search while Yahoo! will become the exclusive worldwide relationship sales force for both companies’ premium search advertisers.










