Europe Intelligence Wire articles from February 2003

Europe Intelligence Wire archives from February 2003

Mixed response to Higgs.
February 1, 2003... (From Financial Director) Initial responses to the Higgs review are mixed. The CBI gives the report its backing, but expressed concerns that the proposal to give major shareholders the right to meet non-execs could create "damaging...

movers & shakers.
February 1, 2003... (From Financial Director) Mona Navin-Mealey is the new FD of CRM provider GB Group. She joined the company as FC in November 1995. Age: 33 Qualifications: ACMA 1991 What things other than finance do you do in your job? I...

Banking and finance - More jobs to go in banking sector.
February 1, 2003... (From Financial Director) Byline: Jules Stewart. Given the rate of staff cuts in the investment banking industry, one might be forgiven for wondering if there will be anybody around to answer the telephone when the markets finally...

G30 proposes reforms.
February 1, 2003... (From Financial Director) The Group of 30, the body comprising world leaders in central banking and private finance, announced proposals in January to reform the global securities market. The 20 recommendations, published in Global...

FS optimism falls.
February 1, 2003... (From Financial Director) Overall business volume in the financial services sector fell in Q4 2002 with only 21% of respondents to a CBI and PricewaterhouseCoopers survey reporting an increase in business compared to 31% who reported a...

DUBYA'S EXTRA DIVIDEND.
February 1, 2003... (From Financial Director) Byline: John Sterlicchi in San Jose. Over the past few decades US companies have gone to great lengths to avoid paying any taxes. Corporate taxation as a percentage of the total amount received in the federal...

IT strategy - Time for pop-ups to pop off.
February 1, 2003... (From Financial Director) Byline: Tom Berry. Back in the late 1990s when clicks, not bricks, ruled the stock markets I was asked to put together a small business plan for one of my previous employers. The proposition was simple - put...

New role for Goodyear at BHP Billiton.
February 1, 2003... (From Financial Director) BHP Billiton's former CFO Charles "Chip" Goodyear has been appointed chief exec following the resignation of Brian Gilbertson due to "irreconcilable differences" with the company's board. Goodyear joined BHP in...

The Financial Director interview - Nothing last minute about it.
February 1, 2003... (From Financial Director) Byline: Tom Berry. David Howell had to think long and hard when he was offered the job of finance director at e-retailer Lastminute.com in the summer of 2001. Not only had the company's share price taken a...

Cover story - Industry overload.
February 1, 2003... (From Financial Director) Take a monopolistic power market, energise it through market liberalisation, enthuse it with the idea of new, cheap generation assets (the dash for gas), then hit it with perfect competition which kicks in with...

Corporate governance - Clear benefit in open reports.
February 1, 2003... (From Financial Director) Byline: Peter Bartram. When the Centre for Financial Research and Analysis (CFRA) raised doubts about the way that outsourcing specialist Capita Group was accounting for certain expenses last summer, Capita's...

Financial directions - Non-exec fees static, work increasing.
February 1, 2003... (From Financial Director) Byline: Kevin Reed. The Independent Remuneration Solutions (IRS) Independent Director Survey, in association with 3i, surveyed 950 NEDs across a range of companies and sectors. It found that non-exec chairmen...

Business intelligence - Capital value.
February 1, 2003... (From Financial Director) What do investors look for? If organisations are looking to ensure that they are attractive investment propositions, then knowing what drives these investment decisions is a critical knowledge-set for any...

Financial directions - CFOs don't have strategy for property.
February 1, 2003... (From Financial Director) According to Ernst & Young, chief financial officers don't treat property as a serious strategic boardroom issue, and UK companies are poorly equipped to face a downturn as a result. A survey* of over 100...

Financialbites.
February 1, 2003... (From Financial Director) "They seem to be trying to get back the GBP 4,004. But by my reckoning that will take them more than 60 years." Steve Cheston, FD of Durham Police force on the Inland Revenue's decision to tax the force's GBP...

Financial directions - December sees FTSE World Index drop 8%.
February 1, 2003... (From Financial Director) Despite a rally in equity markets in the previous two months, December 2002 saw the FTSE World Index drop by 8%. This showed that investors still had concerns about global and economic development - the situation...

Extraordinary items - Caption competition.
February 1, 2003... (From Financial Director) Another picture caption for you, this time featuring Imperial Tobacco FD Robert Dyrbus (left) and chief exec Gareth Davis. The pair were in the news as they steered the company so competently they earned their...

Extraordinary items - Overtaken by events.
February 1, 2003... (From Financial Director) Fate is an awful thing to tempt, so you have to feel sorry for Merrill Lynch which recently issued a bearish circular on a FTSE-100 company. It poured cold water on press speculation of a leveraged buy-out...

Extraordinary items - Seat on the board.
February 1, 2003... (From Financial Director) Interesting that we should be witnessing Wm Morrison's bid for Safeway just as we're digesting the Higgs report. The supermarket chain has long scorned the idea of having non-executive directors on the board. ...

Extraordinary items - Higgs leads by example.
February 1, 2003... (From Financial Director) Derek Higgs is clearly a man who thrives on a jam-packed daily agenda. In the second half of 2000, for example, he was executive director at Prudential, and chairman of its Prudential Portfolio Managers...

Extraordinary items - What's in a report?
February 1, 2003... (From Financial Director) We looked for a new angle on the Higgs report and decided that, for this page, at least, we could do no better than to consult one of our favourite websites, www.anagramgenius.com. We ran "non-executive directors"...

Budgeting software - Speed up your budget.
February 1, 2003... (From Financial Director) Byline: Malcolm Wheatley. Late. Uninformative. Disorganised. Scratch an FD, and you'll often hear their company's budgeting process described in such terms. Poke a little further into budgeting practice,...

Investigation of Australian rail crash underway as toll revised down.
February 1, 2003... (From Agence France Presse) The death toll from Friday's Australian train crash was revised down from nine to eight after the last of the bodies was extracted from the wreckage, police said here. More than 40 passengers were injured...

US rebukes Canada in drug report.
February 1, 2003... (From Agence France Presse) The United States rebuked close ally Canada for inadequate enforcement of drug regulations that it said had led to an "alarming increase" in the cross-border export of illegal narcotics. However, Washington...

Bush, after talks with Blair, says he might back new UN resolution on Iraq.
February 1, 2003... (From Agence France Presse) US President George W. Bush said he might welcome a new UN resolution on Iraq, after meeting British Prime Minister Tony Blair, as the chief UN weapons inspector considered an invitation Baghdad. But Bush...

Three arrested in visa fraud probe at US consulate in Mexico.
February 1, 2003... (From Agence France Presse) Three employees at the US consulate in Nuevo Laredo, Mexico have been arrested and charged with visa fraud, the Justice Department said. The arrests took place, a day after the State Department took the...

UAL reports record 2002 losses, tough time ahead.
February 1, 2003... (From Agence France Presse) UAL Corp., parent of United Airlines, said it made a record loss in 2002, faced more losses ahead and was fighting to cut costs after filing for bankruptcy. UAL, which entered Chapter 11 bankruptcy December...

Dollar climbs back as markets shift focus to economic news.
February 1, 2003... (From Agence France Presse) The dollar rose for a second day against most major currencies as investors shifted their sights to economic news in the absence of major developments in the Iraq crisis. The euro slipped to 1.0768 dollars...

Slovak railway workers launch unlimited strike at 23:00 CET.
February 1, 2003... (From Czech News Agency) BRATISLAVA, Jan 31 (CTK) - Slovak railway workers have started a strike at 11 p.m. today for an indefinite period of time in protest against austerity measures on the railways, head of the strike committee Jozef...

Powell to give UN top-secret proof Iraq lied about weapons.
February 1, 2003... (From Agence France Presse) US Secretary of State Colin Powell will give the UN Security Council damning electronic evidence that Iraq has repeatedly lied to UN weapons inspectors. In response to demands for hard evidence to justify...

US warns North Korea against reprocessing nuclear rods.
February 1, 2003... (From Agence France Presse) The United States warned North Korea on Friday against taking the "provocative" step of reprocessing nuclear fuel rods to convert them into bomb-grade plutonium. The warning came as US officials reported...

Oh Canada, it's looking tough at the top.
February 1, 2003... (From Agence France Presse) Even if they don't win a single match in South Africa, Canada will be more than happy just to wipe out one of the sport's less flattering records. Back in 1979, they made their only other appearance in the...

Bush says he might back new UN resolution.
February 1, 2003... (From Agence France Presse) US President George W. Bush said he might welcome a new UN resolution on Iraq, after meeting British Prime Minister Tony Blair to plan the next steps in the campaign to disarm Saddam Hussein. But he warned...

Allied special forces on spy mission inside Iraq.
February 1, 2003... (From Agence France Presse) British and US special forces have mounted a six-day covert mission into western Iraq to identify key targets in the event of a war. News reports came as British Prime Minister Tony Blair flew back from a...

Rockets fired at peacekeeper base in Kabul.
February 1, 2003... (From Agence France Presse) Three rockets were fired near a base housing international peacekeeping soldiers on the outskirts of Kabul but there were no casualties, a western military source in the Afghan capital said. The rockets,...

Thailand ponders Cambodian offer to send FM to mend shattered ties.
February 1, 2003... (From Agence France Presse) Thailand said it would consider an offer by Cambodia to send its foreign minister here in a bid to mend ties between the two countries sent plummeting by anti-Thai riots in Phnom Penh this week. "The...

Journalist among four killed, 21 injured in Indian Kashmir.
February 1, 2003... (From Agence France Presse) A Muslim journalist was among four people killed and twenty-one others injured in separate shoot-outs and explosions in Indian-administered Kashmir, police and witnesses said. The fresh violence has come...

Pakistan protests alleged harassment of diplomat in India.
February 1, 2003... (From Agence France Presse) Pakistan has protested against what it says is the harassment of its acting high commissioner in New Delhi, just days after both countries were engaged in tit-for-tat expulsions of embassy staff, officials said....

Peaceful anti-war demonstrations held in Pakistan.
February 1, 2003... (From Agence France Presse) Pakistanis marked a day of protest against a US-led attack on Iraq with rallies in major cities but witnesses said turnout was low despite some 40 political and religious groups joining the nationwide display....

India mulls strategic crude oil reserve as Iraq war looms.
February 1, 2003... (From Agence France Presse) Oil-starved India plans to boost its storage capacity for crude oil reserves to stave off a national crisis in emergencies such as the looming war in Iraq, officials said. Petroleum Minister Ram Naik would...

Italy arrests 28 Pakistanis with explosives, NATO map.
February 1, 2003... (From Agence France Presse) Twenty-eight Pakistani nationals were arrested in the Italian city of Naples with explosives and a map of the town where NATO's southern headquarters are located, court sources said. US naval forces...

Fat's right - Inzamam slims down.
February 1, 2003... (From Agence France Presse) Pakistan vice-captain Inzamam-ul-Haq, who has been the butt of jokes at grounds around the world because of his weight, has unveiled his new slim-line look. The batsman, who played a crucial role in...

Sogo aims to merge operations with Seibu by June.
February 1, 2003... (From Agence France Presse) Japanese department store chain Sogo, emerging from its rehabilitation after a spectacular failure in 2000, aims to merge operations with debt-ridden retailer Seibu by June, the head of Sogo said. If...

Bangladesh set out with limited ambition.
February 1, 2003... (From Agence France Presse) Bangladesh are not even dreaming of winning the World Cup in South Africa, just aiming for a couple of victories to end a long run of dismal and disappointing performances. Bangladesh, who have won just...

Arroyo tells Filipinos in the Middle East to be ready to evacuate.
February 1, 2003... (From Agence France Presse) President Gloria Arroyo urged Filipinos in the Middle East to be ready for evacuation in the event war broke out in Iraq. Arroyo said Saturday she would look into the conditions of the Filipinos when she...

Thailand's three-month war against drugs begins.
February 1, 2003... (From Agence France Presse) Thai Prime Minister Thaksin Shinawatra declared the start of a three-month intensified war against drugs and announced a huge increase in the ceiling of rewards offered to those helping in trampling them out....

PSA Corp. global champion to retire in March.
February 1, 2003... (From Agence France Presse) PSA Corp. deputy group president Goon Kok Loon, who led the Singapore port operator's expansion from the small domestic market into the global shipping scene, will retire in March, the company said. Goon,...

213 Bangladeshis held on Indian border, New Delhi voices concern.
February 1, 2003... (From Agence France Presse) Indian border guards detained 213 Bangladeshis who were trying to sneak into India's West Bengal state, an official said. "The border guards have detained 213 Bangladeshi nationals, including 65 women and 18...

Ten dead in Indonesia landslide.
February 1, 2003... (From Agence France Presse) Ten people have been killed by a landslide that buried their homes in Indonesia's West Java province, a local official said. The deaths early Friday in Kuningan regency followed another landslide elsewhere...

Intense talks under way ahead of Nepal peace pow-wow.
February 1, 2003... (From Agence France Presse) Intensive discussions are under way between Nepal's government and Maoist rebels, including behind prison walls, ahead of the imminent start of formal peace talks, key mediators in the process told AFP. The...

"Just say No" -- Bush dashes Myanmar's hopes of anti-drugs recognition.
February 1, 2003... (From Agence France Presse) ATTENTION - ADDS quotes /// President George W. Bush accused Myanmar of failing to adequately battle drugs production, in a body blow to Yangon's calculated bid to shed its reputation as "narco-state." ...

Editor and 42 others charged over anti-Thai riots in Cambodia.
February 1, 2003... (From Agence France Presse) = (PICTURES) = ATTENTION - INCORPORATES -media /// A newspaper editor and 42 others were charged over violent anti-Thai riots sparked by rumours that a Thai actress had insulted Cambodia. In...

Indian Kashmir leader condemns killing of journalist.
February 1, 2003... (From Agence France Presse) The leader of Indian-administered Kashmir condemned the killing of a Muslim editor as showing no respect for press freedom and ordered a hunt for the killers. At least two gunmen Friday shot Parvaz Mohammed...

Thailand's three-month war against drugs begins.
February 1, 2003... (From Agence France Presse) Prime Minister Thaksin Shinawatra declared the start of a three-month drive to rid Thailand of drugs and announced a huge increase in rewards for helping to stamp them out. "Today is the first day that we...

Four die in Nagaland clashes despite peace process with India.
February 1, 2003... (From Agence France Presse) Four militants have been killed in clashes between rival separatists in troubled Nagaland, highlighting the difficulties brokering an end to India's oldest insurgency, officials said. The Indian government...

Intense talks ahead of Nepal peace pow-wow.
February 1, 2003... (From Agence France Presse) = (PICTURES) = ATTENTION - ADDS quotes, details /// Intensive discussions are under way between Nepal's government and Maoist rebels, including behind prison walls, ahead of the imminent start of formal...

At least 24 killed in Zimbabwe rail accident.
February 1, 2003... (From Agence France Presse) At least 24 people were killed and many more injured when a passenger train collided with a goods train carrying inflammable substances near Dete in western Zimbabwe. "Twenty four bodies have so far been...

Faldo in line for first tournament win in six years.
February 1, 2003... (From Agence France Presse) = (PICTURES) = Six-time major winner Nick Faldo was tantalisingly close to his first tournament victory in almost six years as he wound back the clock to lead the Heineken Classic. The 45-year-old rated...

Japan's Toyota ordered to pay unpaid allowances for overtime.
February 1, 2003... (From Agence France Presse) A labour inspection office has ordered Japan's top automaker Toyota Motor Corp. to pay allowances for overtime owed to some employees, a company spokesman said. "It is true that we have been told to correct...

US envoy raises Indian hackles over protocol breach: press.
February 1, 2003... (From Agence France Presse) The US ambassador to India offended his hosts by flouting protocol during the annual Republic Day celebrations, a newspaper said. The Hindustan Times, quoting foreign ministry sources, said Robert Blackwill...

Seles beats Rubin to make Pan Pacific Open final.
February 1, 2003... (From Agence France Presse) Former world number one Monica Seles faced a scare before beating Chanda Rubin for a final berth in the Pan Pacific Open tennis tournament. Top-seeded Seles stormed back from a set down and a service break...

Bush touts emergency AIDS plan.
February 1, 2003... (From Agence France Presse) US President George W. Bush tried to drum up public support for his plan to help AIDS patients in Africa and the Caribbean, vowing to bring "the merciful powers of modern medicine to people in great need." ...

US soldiers under fire near extremist "base" in southern Afghanistan.
February 1, 2003... (From Agence France Presse) US soldiers scouring a cave complex believed to be an extremist base in southeastern Afghanistan came under fire but there were no casualties, the US military said. Shots were fired at a US patrol by a...

Hong Kongers pray for economic recovery in Year of the Goat.
February 1, 2003... (From Agence France Presse) Temples teemed with thousands of superstitious Hong Kong residents as they marked the new Year of the Goat with prayers for a resolution to the city's economic woes. Thousands of people poured into the...

Beijing residents celebrate New Year with television and fairs.
February 1, 2003... (From Agence France Presse) = (PICTURES) = ATTENTION - REPLACES scheduled Beijing-Lunar /// Beijing residents spent the first day of the lunar in temples and at a fair, after welcoming in the Year of the Goat at special dinners or...

Americans in Saudi Arabia urged to consider leaving.
February 1, 2003... (From Agence France Presse) Thousands of Americans living and working in Saudi Arabia were advised by the US embassy here to consider leaving in light of increased risks as war on Iraq looms large. "Private American citizens currently...

India, Bangladesh talk about deportations over tense border.
February 1, 2003... (From Agence France Presse) Indian and Bangladeshi border troops were holding talks on the deportation of Bangladeshis, as tension between the normally friendly countries ran high over charges of illegal immigration. India last month...

Pakistani want prison trial for Sheraton blast suspects.
February 1, 2003... (From Agence France Presse) Pakistani police applied to have two Islamic militants suspected over an attack that killed 11 French engineers to be tried in prison for security reasons. "We have requested the Sindh home department to...

Philippine high school has five teachers -- and only two students.
February 1, 2003... (From Agence France Presse) A private high school north of the Philippines capital Manila has five teachers but only two students, a local newspaper reported. The school, in the bustling city of Urdaneta, is allowed to stay open as the...

Cambodia's opposition leader detained by Thailand.
February 1, 2003... (From Agence France Presse) Immigration authorities detained Cambodian opposition leader Sam Rainsy as he arrived at Bangkok's Don Muang airport, Thailand's Nation television channel reported. "Foreign ministry spokesman Sihasak...

India 'disappointed' not more US pressure on Pakistan.
February 1, 2003... (From Agence France Presse) India said it wanted the United States to be tougher with Pakistan but that Washington was concerned that more pressure could bring down President Pervez Musharraf. Deputy Prime Minister Lal Krishna Advani,...

Hundreds of thousands in new anti-French protest in Ivory Coast.
February 1, 2003... (From Agence France Presse) Hundreds of thousands of youths took to the streets of Abidjan in a new protest against a French-brokered deal to end a rebel war, a day after Paris urged its nationals to leave after days of riots. An...

Asia prays for greater prosperity during Year of the Goat.
February 1, 2003... (From Agence France Presse) Asia welcomed the Lunar New Year with millions streaming into temples to pray for more prosperous times after another 12 months of economic gloom. Thousands of people poured into Kong Kong's famous Wong Tai...

Saab sheds also-ran tag to take on rivals.
February 1, 2003... (From The Northern Echo) Byline: Nigel Burton COMEBACKS can be so cruel. Expectations run high and the pressure's on. The new Saab 9-3 has big boots to fill; the original 900 was one of the best-loved cars ever built by the...

North-East is a winner.
February 1, 2003... (From The Northern Echo) Byline: Steve Parsley THE North-East has been promised another round of the British Rally Championship after Gateshead's successful debut as a venue last year. Fans packed Watergate Park or made the trip...

Villagers prepare for battle over rubbish skips scheme.
February 1, 2003... (From The Northern Echo) Byline: Bessie Robinson VILLAGERS have vowed to fight a waste company plan to site rubbish skips yards from a caravan park. Durham County Waste Management wants to open a recycling depot in a compound...

Recycling company aiding hospice.
February 1, 2003... (From The Northern Echo) A RECYCLING company has pledged its support to a hospice by giving GBP600. Foreman Recycling, in Spennymoor, has been working in partnership with the Butterwick Hospice at Bishop Auckland for more than three...

Hospital trips made easier.
February 1, 2003... (From The Northern Echo) GETTING to hospital should become easier for people in Durham's rural communities thanks to a GBP740,000 boost for specialist transport services. The county council has Successfully bid for Rural Bus Challenge...

Pensioners to get benefits advice.
February 1, 2003... (From The Northern Echo) PENSIONERS who could be missing out on benefits are invited to an open day to help them with their claims. Age Concern representatives will offer advice to people over the age of 50 at Baring Court, Tow Law, on...

Housing service in spotlight once more.
February 1, 2003... (From The Northern Echo) INSPECTORS who slated a council's housing repairs and maintenance service are paying a follow-up visit in March. Wear Valley District Council came under fire from the Audit Commission in November 2001, when a...

Recycling project delay.
February 1, 2003... (From The Northern Echo) MANUFACTURING problems have been blamed for the late start of Wear Valley's recycling scheme, which should have got under way last month. Green boxes were due to arrive in the district yesterday and will be...

Andy is named poet laureate.
February 1, 2003... (From The Northern Echo) A POEM called "Sexy Baz's Birds" has helped a college lecturer to become poet laureate in his home town for a year. Andy Willoughby, a lecturer in performing arts and higher education at Darlington College of...

But I know Tony is an honourable man. . .
February 1, 2003... (From The Northern Echo) Byline: Chris Lloyd GULLIBLE, naive and a poor judge of character: I may be all those things, but in the ten years since I first met Tony Blair I have always believed that he is a decent, honest and trustworthy...

Why I'm no longer seeing stars.
February 1, 2003... (From The Northern Echo) Byline: Steve Pratt There was a time when the presence of a top star could guarantee a movie's success - but not any longer. Film Writer Steve Pratt says it is now marketing, not talent, that sells tickets ...