Business & Financial News

Italian Enel SpA power company and Acciona SA building company have made the official joint offer on purchase of Spanish Endesa power company. The corresponding application has been directed today to Spanish CNMV market regulator.
The companies offer 41,3 euros (55,42 dollars) for Endesa’s share that evaluates the Spanish company approximately in 43,4 billion euro. Enel’s and Acciona’s offer is on 3,3 % above the offer of the German E.On power concern, which has estimated Endesa’s shares in 40 euros for each.
On the eve the board of Enel’s directors has approved Acciona’s offer on purchase of Endesa’s shares at the price of 41,3 euros per share. The transaction will be carried out according to the terms, which have been put forward by the companies on March, 26th, 2007.
Then Enel and Acciona have declared the intention to offer at least 41 euros/actions for Endesa. The purchase of Endesa is planned to be carried out by means of creation of holding, supervised by Acciona. Thus it was informed, that Enel and Acciona can make the joint offer on purchase of Endesa only in case that German E.On (within the limits of the merge) wont be able to lead its share in the Spanish company up to 50,01 %. Now the companies own 46 % of Endesa’s shares.
On April, 2nd, 2007 E.On has recognized the defeat in struggle for Endesa and has entered into the agreement with Italian Enel and Spanish Acciona in order to purchase Endesa. Thus E.On can receive Endesa’s assets for the sum of 10 billion euro in Spain, Italy, France, Poland and Turkey.
The German concern has entered the struggle for Endesa on February, 21st, 2006, having offered 29,1 billion euro money resources. According to the terms of the offer, the concern should consolidate not less than 51,01 % of shares of the Spanish company. In case of realization of transaction, E.On would turn to one of the largest gas and power concerns in the world.
In February 2007, the transaction on merge has been blocked by Italian Enel and Spanish Acciona, which managed to consolidate more than 45 % of Endesa’s shares.
Endesa has leading positions in the power market of Spain, Chile, Argentina, Colombia, and Peru. The company also works in Brazil, Italy, France, Portugal and Dominican Republic. The established capacity of its stations exceeds 42,9 thousand mW. Endesa is the second-largest gas operator in Spain, supervising 4,2 % of the adjustable market of gas of the country. In 2006 net profit of the company has decreased on 6,7 % - up to 2,969 billion euro in comparison with 2005. The operational profit has increased on 23,4 % - up to 5,239 billion euro, EBITDA - on 18,6 % - up to 7,139 billion euro.
 

Leading American manufacturer Boeing has received orders for more than 500 planes B-787 which is also known as a Dreamliner. Thus, B-787 became one of the most quickly bought up planes in the world.
The orders for Dreamliner have started to come since April, 2004. Thus till now B-787 has not made any flight. Tests of the liner will be started in August.
It has become known that 43 airlines from all worlds are among the customers of the plane. At present moment Japanese JAL Company has become the last customer. In view of its order Boeing has to construct 514 liners.
While no Russian airline did not order B-787. Earlier an opportunity of purchase of the American liners was declared by the Russian largest air carrier “Aeroflot”, however in the beginning of 2007 the company management has chosen A350 among the European Airbus Concern.
The main difference of B-787 from other long-distance liners is that it will consume up to 20 percent of fuel less, than modern planes do. Besides, the designing of the Dreamliner was completely conducted by means of a computer, without paper drawings. It has allowed Boeing to save significant financial and labor resources.
 

According to DigiTimes, Asus company can transfer manufacture of portable computers under own easily soiled affiliated Asusalpha Computer firm in the nearest future.
The principal cause of possible refusal of independent notebook’s release relies in escalating pressure on Asus from its partners. The matter is that Asus carries out large orders for such known companies, as Dell, Toshiba and Apple. At the same time popularity of notebooks, let out by Asus trade mark, has essentially increased for the last two years. As a result the Asus’ production has started to compete with notebooks of the basic customers of the company.
Sony and Apple have already refused form Asus’ services, having transferred orders for manufacture of portable computers to Foxconn Electronics and Quanta Computer companies. Toshiba Corporation has made a decision to reduce volume of notebooks’ release on Asus’ capacities. And Dell Company has also demanded Asus to transfer manufacture of portable computers under own easily soiled affiliated firm till 2008. Otherwise the contract about Dell and Asus further cooperation can be reconsidered.
However, even if Asus will transfer the production of notebooks under the easily soiled affiliated firm, the company will not refuse from the production of parent hardware and basic computer components. By the way, now Asus carries out large orders on PlayStation 3 manufacture. And the business connected with computer games and system hardware (in opinion of some observers) will help Asus to support te production of its own notebooks.
However, Asus’ top-managers do not make any comments on the information on possible transfer of manufacture of portable computers to an affiliated firm of the Company.
 

Hackers have managed to receive the detailed information on 45,7 million bank cards which were used by clients of American TJ Maxx trading network and its British branch - TK Maxx.
As TJ Maxx admits that, unfortunately, now it is impossible to establish precisely, which data have been stolen and how it will affect owners of cards.
At the same time, the company assures, that in 75 % of cards’ owners should not worry about data which have come into the hands of hackers. The majority of the transactions “intercepted” by malefactors, concern to 2003-04, and it means, that validity of many cards has already expired. Besides in some cases hackers could not get access to numbers of cards.
The representative of APACS British payment association has told that if their clients carried out transactions with TK Maxx in 2003-04, the majority of them have already received absolutely new debit or credit cards. - Therefore they can be assured that there was an outflow of data with their old, instead of their new cards.
The representative has also added, that banks can return money to the clients in case that their money has been stolen by means of TK Maxx computer system failure.
TK Maxx Representatives have informed that hackers managed to steal 100 files from its British server. Thus the company will not, probably, manage to find out, which data was stored in these files.
According to the company, for the first time hackers have managed to get access to its computers in July, 2005. Computers were cracked up to the middle of January 2007, however last time data about consumers have come into the hands of malefactors in December, 2006.
Hackers have obtained data about transactions in TJ Maxx shops in the USA, Puerto Rico, Canada, the Great Britain and Ireland.
Now TJ Maxx management calls the clients to check up closely reports on the transactions in order to reveal possible abductions.

The manufacture of MG Rover cars has been again renewed after a two-year-old break. However Nanjing Automobile Company - the new owner of the brand - now is collecting the cars not in the Great Britain, but in the east of China.
As one of Nanjing Automobile top-managers has told, the company has started manufacture of cars of MG7 series and MG TF sports car. As he has also said, the cost of machines will make from 23 thousand up to 51 thousand dollars.
The company declares that it is measured to sell cars worldwide. However, the observers consider that China, where demand increases for 10 million cars a year, will become a basic market Nanjing Automobile nevertheless becomes.
How has Rover been removed from the Great Britain?
Till 2000 MG Rover company was included into BMW Concern. However Germans could not rescue the British division, losing the market, and have sold it to Phoenix Venture Holdings for symbolical 10 pounds, having reserved the rights to release cars under Rover and Mini brands.
The new owner was also unable to correct the situation. In the end of March, 2005, MG Rover factory has been closed, Phoenix Venture Holdings has declared bankruptcy, and the court has appointed PricewaterhouseCoopers as the external managing director of the company.
By that moment MG Rover has run into 1,4 billion pounds (2,8 billion dollars) creditors dept and has dismissed 5 thousand workers of the basic factory in Birmingham.
PwC has declared the sale of MG Rover. The tender was won by Chinese Nanjing Automobile state company, having offered 87 million dollars for a brand and industrial actives of the company. The manufacture of cars has been transported to China.
Nanjing Automobile plans to make 200 thousand cars a year.
 

Johannes Feldmayer, a member of German Siemens AG board, has been arrested in a Nuremberg on charge in excess of powers within the limits of case on briberies.
Siemens stuff has also confirmed, that the police have made searches at offices of the company in Nuremberg, Munich, and also that consequence on Feldmayer’s case is being preceded; besides Feldmayer is the head of IT-service and constructing technologies departments.
The Public Prosecutor Office suspects, that some Siemens head managers gave a bribe at a rate of hundreds millions euro for reception of contracts.
One month ago the police have already hold searches in some offices of the company, however then it was a question of evasion from payment of taxes. The search was spent at Siemens objects in Munich and Nuremberg. The inspectors were looking for some documentation, concerning several tax payments.
Lately, the Siemens’ widespread application informed, that the German industrial giant renders all-round assistance to consequence. In particular, the copy of the document on results of the internal investigation, lead by the company, has been transferred to Office of Public Prosecutor.
It is also worth of reminding that not so long ago the Concern had to pay the penalty (423 million euro), which has been imposed on the Company by Eurocommission on charge in cartel fraud.
 

The American tires manufacturer Goodyear Tire and Rubber Co. plans to sell its EPD Inc. business unit to the Carlyle Group investment company for 1,475 billion dollars. As it has become known such radical Goodyear’s measures are to be held within the limits of the program on the company’s re-structuring policy, which purpose is to focus Goodyear’s activity on manufacture of tires.
Earlier, Goodyear, the largest US tires manufacturer, has already declared about its intention to sell EPD Inc. subdivision in the 1st decade, 2007.
Now the financial business of the American tires manufacturer is far from the in the best positions. So, in 2006 the company has been compelled to borrow almost 1 billion dollars to cope with consequences of the working enterprises strike.
Let’s remind, that on October, 5th, 2006, the workers of 12 Goodyear’s American factories have declared strike. Trade unions did not manage to achieve the adoption of the workers requirements put forward the company’s management. Striking workers have declared, that they will not allow to close factories in the USA and to reduce workplaces. The opposition, which has prolonged contracts with employees for some months, has also caused the increase in charges of the company.
Therefore for increase of profitableness of Goodyear’s business, management considers an opportunity of transferring of a greater part of manufacture to China. Sale of EPD subdivision within the limits of re-structuring will also allow Goodyear to compensate the greater part of its losses.
 

Google Company tests the new system of context advertising. The New York Times informs that according to the new rules, the advertiser pays only in case that after transition under the advertising reference the user was registered in advertised service, has filled the questionnaire or has bought firm’s production of the.
The present systems pf online-advertising foresee payment of each display of a banner or transition under the reference to a site of the advertiser irrespective of, whether that he has received profit on such advertising. Google will change system of context advertising

Ford has found the buyer for Aston Martin. Contrary to hearings that the legendary British company the French manufacturer of the goods of a premium-class will buy Louis Vuitton, Aston Martin has been sold to Englishmen. According to the official version - now Aston Martin is in the Arabian sheikhs’ possession.
Last year Ford, which now faces huge financial problems, has estimated Aston Martin in $925 million and it is obvious, that Ford will sell not all company entirely - Americans have decided to reserve approximately 8 % of Aston Martin. The tenders for other shares were being held for a very long time. As a result, the control over James Bond’s favorite trade mark has received a consortium of investors for $848 million.
This consortium is headed by the racer David Richards. Ha has not just won the world championship on rally, but now he also supervises Prodrive company, which specializes on preparation for racing and on sports cars.
However, the basic financial charges will be incurred not by Richards, and two Kuwaiti investment companies - Investment Dar and Adeem Investment Co. (plus John Sinders - the collector of Aston Martin cars and millionaire will be also included into this business).
 

Representatives of Eurocommission have scarified system of protection against the copying, used by Apple at sale music on the Internet. Now the business concerns only penalties, however a number of countries can start proceedings against the company. Nevertheless, Apple tries to shift the responsibility on Sony BMG, EMI, Universal and Warner.
The eurocommissioner on protection of consumers’ rights has found out the infringement of the consumers’ rights that the music bought in the Internet-shop iTunes Music Store can be listened only on iPod players. The reason is simple - both iTunes and players are advanced by Apple Company. In other words, a technology of digital management of copyrights DRM (Digital Rights Management) which interferes with reproduction of the files loaded with iTunes, on any devices, except for a player iPod, is under the threat. Thus the eurocommissioner marks, that there are no similar restrictions on musical compact disks (CDs).
The eurocommissioner was not the first who has lifted a question concerning DRM, used by Apple, and the infringement of consumers’ rights. Earlier the representatives of consumers’ rights in France, Finland, Germany and Norway spoke about the same problem.
Norway (that is not the EU member-state) has even promised to start investigation of Apple’s activity if the company will not cease to use the system of protection of files from copying till October, 1st, 2007.