bluebox™ News

Mobile and broadband contracts face Ofcom price action

Submitted by Bluebox Editor on Fri, 04/01/2013 - 09:31

Phone and internet customers may soon be allowed to escape their fixed contracts, without penalty, if the price is put up mid-contract.

The telecoms regulator Ofcom has started a consultation on such a rule, in response to hundreds of complaints about surprise price rises.

The consultation was first mooted in October, and since then Ofcom has hardened its stance.

Swiss bank Wegelin to close after US tax evasion fine

Submitted by Bluebox Editor on Fri, 04/01/2013 - 09:22

Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes.

Wegelin, which was established in 1741, has also agreed to pay $57.8m (£36m; 44m euros) in fines to US authorities.

It said that once this was completed, it "will cease to operate as a bank".

Avis to buy Zipcar for $500m

Submitted by Bluebox Editor on Thu, 03/01/2013 - 09:45

The global car hire firm Avis Budget has agreed to buy Zipcar, the world's biggest car-sharing firm, for $500m (£307m).

The car hire giant is buying into the fast-growing sharing market, which it says is worth $400m in the US.

Zipcar has 767,000 members, who pay an annual joining fee and then are charged by the hour to use its cars.

Start-up loans scheme expanded

Submitted by Bluebox Editor on Thu, 03/01/2013 - 09:34

The government is expanding its start-up loans scheme, which offers young entrepreneurs loans of about £2,500 to help them start businesses.

The scheme had originally been aimed at 18-to-24-year-olds, but is now being expanded to those aged up to 30.

To cater for the wider age band, the funding available for start-up loans will rise from £82m to £112m.

Google sells Motorola Home for $2.35bn

Submitted by Bluebox Editor on Fri, 21/12/2012 - 08:56

Google has agreed to sell the set-top box business of its subsidiary Motorola for $2.35bn (£1.45bn).

The deal to sell Motorola Home has been agreed with US firm Arris, in which Google will take a 15.7% stake.

Google had been widely expected to sell the business, which it bought in May this year as part of its $12.5bn takeover of Motorola.

Blackberry-maker Research in Motion sees big fall in profits

Submitted by Bluebox Editor on Fri, 21/12/2012 - 08:51

Blackberry-maker Research in Motion (RIM) has seen its profits plunge, and reported the first fall in quarterly subscription numbers in the company's history.

The Canadian firm made a net profit of $9m (£5.5m) in the three months to 1 December, down from $265m a year ago.

During the quarter, its global subscriber base fell to 79 million from 80 million.

BAE Systems wins £2.5bn Oman Hawk and Typhoon contract

Submitted by Bluebox Editor on Fri, 21/12/2012 - 08:48

BAE Systems, the UK aerospace company, has won a £2.5bn aircraft contract with the Sultanate of Oman.

BAE will provide 12 Typhoon and eight Hawk Advanced Jet Trainer aircraft.

The contract, due to start in 2017, will cover the supply of the aircraft and in-service support for them and is the latest in a long line of contracts to supply Oman.

Bankrupt Kodak sells off patents to investors for $525m

Submitted by Bluebox Editor on Thu, 20/12/2012 - 08:39

Eastman Kodak has sold its digital imaging patents to a consortium of bidders, which includes Google and Apple, for $525m (£322m).

Kodak said 12 intellectual property licensees led by Intellectual Ventures (IV) and RPX Corp bought the patents.

The photography pioneer has sold the patents to pay creditors after filing for bankruptcy in January.

HMV warns over its future as sales continue to fall

Submitted by Bluebox Editor on Fri, 14/12/2012 - 09:16

HMV has warned that it faces an uncertain future in the face of continuing falling sales, and says it is in talks with its banks.

The troubled music, films and games retailer said it faced a "probable" breach of its current banking agreements next month, and was facing "material uncertainties".

Sales for the six months to 27 October fell to £288.6m, down 13.5%.

Tax returns: HMRC warning to 300,000 late filers

Submitted by Bluebox Editor on Fri, 14/12/2012 - 09:13

About 300,000 people who have failed to send in their tax returns for 2010-11 could soon see their goods seized.

The taxman is sending warning letters to those who have now run up late-filing penalties of £1,300 for that year, under self-assessment.

They can still pay, or ask for the penalty to be taken off their income in 2013-14 if they are in the PAYE system.

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