Business and City Summary
Monday 25 January 1993
BT had no immediate comment on US reports that it was considering the purchase of a significant stake in Electronic Data Systems, a Dallas data processing company owned by General Motors.
A report said the two companies had been negotiating since November. EDS hoped to raise dollars 5bn from any deal.
The European Court of Justice will begin hearings on the Coloroll pensions case in Brussels tomorrow. The action is concerned with equalisation and backdating of pension benefits between men and women and could cost British employers between pounds 25bn and pounds 50bn in claims. Judgment is due in July.
Talks towards a new international coffee agreement with price stabilisation powers start today at the International Coffee Organisation in London. The current administrative pact expires in September this year.
Price Waterhouse, receivers to the Glasgow-based Lilley Group, have sold MDW and Meadowline Services to a management buyout team backed by Bank of Scotland, 3i and Scottish Enterprise. At the same time a number of major Lilley contracts in contracting and construction have been sold to Amec.
The average price paid for a private company in the UK was 9.5 times earnings in the fourth quarter of 1992 compared with 8.3 times a year earlier, according to the latest Stoy Hayward-Acquisitions Monthly private company index.
The number of jobless people in western Germany will increase to above 2 million in 1993 and eastern German unemployment will also show a significant rise, the Federal Labour Office said.
The Chilean government is proposing new laws to reform the country's capital markets. The aim is to improve investor protection, increase opportunities for institutional investors and ease access for smaller companies.
Industrial research and development (1991). Money and BS figures (Dec). CBI trends (Jan).
Finals: Lookers, Templeton.
Interims: Euro Disney (first quarter).
Finals: Aukett Associates, Domino, Shandwick.
Interims: Budgens, Cantors.
Construction - new orders.
Finals: Richmond Oil & Gas.
Interims: Allied Textile, WH Smith.
Trade figures (Dec).
Interims: Farepak, MFI, Misys Unitech.
Finals: Partridge Fine Arts, Stakis, Warner Estates.
Interims: Goodhead Group EGM, Stanhope.
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