Business and City in Brief
Wednesday 10 November 1993
Motorola, the telecoms equipment manufacturer, has agreed to trade the last of its US mobile telephone licences to Nextel, a radio-paging network operator, for dollars 1.8bn worth of shares in the company.
Motorola will invest another dollars 260m in New Jersey-based Nextel, bringing its stake to 20 per cent, while Japan's Nippon Telegraph will pay another dollars 75m to acquire a 1 per cent stake.
Fisons has suspended its West Midlands regional sales manager, Rick Tiller, while it investigates allegations that staff gave inducements to GPs to buy the company's asthma treatment, Tilade.
The Office of Fair Trading has called for greater transparency in the supply of photocopiers and for the introduction of standard contracts to eliminate confusion among customers. A report due in about four weeks' time is expected to catalogue a range of malpractices and excesses in photocopier leasing.
The Central Statistical Office has decided to delay tomorrow's release of August trade figures until Friday to allow time for extra work on seasonal adjustment. The CSO said the delay did not imply that the figures were particularly unusual or that there would be significant revisions to earlier data.
New air links
American Airlines has been cleared to start daily services from Gatwick to Nashville, Tennessee and Raleigh-Durham, North Carolina, two of its main hubs in the US, from 27 May next year.
Queens Moat Houses' property valuers were facing questions from the Royal Institution of Chartered Surveyors last night about the differences in their valuations of the company's assets. The institution wants an explanation of how property valued at pounds 2bn by Weatherall Green & Smith in 1991 was worth pounds 861m according to Jones Lang Wootton two years later.
The airports operator BAA has formed a joint venture with the US property group McArthur- Glen Realty to set up a chain of American-style 'outlet' shopping malls in Britain and Continental Europe, selling designer label goods direct to the public at low prices.
Spring Ram, the kitchen and bathroom manufacturer, said it had received resignations from two directors, Ron Farr and David Riley, having requested them at the time of the interim results announcement.
New York: Encouraged by the inflation figures, shares made headway but the advance was not sustained. By the close the Dow was down 7.83 at 3,640.07
Tokyo: Negative sentiment on the outlook for the economy sent the Nikkei average plunging 499.45 points to 18,125.71.
Hong Kong: Doubts over the Sino-British talks lowered the Hang Seng 89.48 to 9,088.47.
Sydney: Early buying support evaporated, leaving the All Ordinaries 3.4 points easier at 2,050.8.
Johannesburg: Volatility in the financial rand played havoc with share prices. Industrials were the main losers as the overall index dipped 23 points to 3,997.
Paris: Prices followed Wall Street higher, with the CAC-40 index gaining 28.1 to 2,112.89.
Frankfurt: Short-covering in quiet trade lifted the DAX index 12.02 points to 2,022.83.
Zurich: With investors focusing on blue chips, the SPI added 27.07 points to 1,719.88.
Milan: The market closed sharply lower, led by telecom stocks.
London: Report, page 32.
Sales of the tablet are set to fall again, say analysts
Met Police confirm there was a 'minor disturbance' and that no-one was arrested
George Lucas criticises the major Hollywood film studios
Does Chris Grayling realise what a vague concept he is dealing with?
Trend which requires crisps, a fork and a strong stomach is sweeping Mexico's streets
Parties threaten resort's image as a family destination
I Am Bread could actually be a challenging and nuanced title
- 1 Indian footballer Peter Biaksangzuala dies after injuring spine doing somersault celebration
- 2 Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
- 3 Banksy arrest hoax: Internet duped by fake report claiming that the street artist's identity has been revealed
- 4 Drink alcohol and eat meat to improve male fertility - but cut down on coffee, studies suggest
- 5 Brian Harvey turns up at Downing Street and 'demands to speak to Prime Minister'
Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
Banksy arrest hoax: Internet duped by fake report claiming that the street artist's identity has been revealed
'Russian submarine spotted' by Swedish military off coast of Stockholm
Brian Harvey turns up at Downing Street and 'demands to speak to Prime Minister'
Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver allegedly kicks gay couple off for kissing
Amal Alamuddin calls for the return of the Elgin Marbles from Britain: 'Injustice has persisted for too long'
Lord Freud: Tory welfare minister apologises after saying disabled people are 'not worth’ the minimum wage
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