The man spending GEC's 6bn pounds sterling

Article Abstract:

General Electric Co (GEC) Chief Executive George Simpson has placed strong emphasis on acquisitions. Indeed, he has invested more than 6 billion pounds sterling in acquisitions since Apr 1998, as well as selling the Marconi defence electronics business to British Aerospace for 7 billion pounds sterling. His style has proved very different from that of his predecessor, Lord Weinstock. Large GEC shareholders believe that Simpson has made wise purchases, but they are not yet sure about whether he will be able to manage them effectively.

United States, Semiconductor Devices, Semiconductor and Related Device Manufacturing, Telecommunications Equipment, Communications Equipment Manufacturing, Other Electrical Equipment and Component Manufacturing, Military Electronics, Semiconductor industry, Telecommunications equipment industry, Telecommunications systems, General Electric Co., Company Profile, Military electronics industry

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Another day, another windfall, as the AA sells up and its members cash in

Article Abstract:

Centrica, the trading and supply division of the former British Gas, has purchased the Automobile Association (AA) for 1.1 billion pounds sterling. AA members will receive a one-off payment of 240 pounds sterling, and will also benefit from discounts on membership as long as they agree to take electricity from British Gas Home Energy. The AA name will be retained, as will the 3,600-strong fleet of patrol vans.

Asset sales & divestitures, Acquisitions & mergers, Direct Property and Casualty Insurance Carriers, Gas Utilities, Natural Gas Distribution, Auto Insurance, Other Similar Organizations (except Business, Professional, Labor, and Political Organizations), Automobile Associations, Mergers, acquisitions and divestments, Services, Automobile Association Ltd., Automobile services industry, Automotive services industry, Centrica PLC, Automobile insurance

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Hands loses Midas touch as 2bn pounds sterling hotels deal hits trouble

Article Abstract:

Growing problems at Nomura's Le Meridien luxury hotel chain are putting pressure on Guy Hands, who leads Nomura's Principal Finance Group. He is currently leaving Nomura and establishing his own fund, but will keep the Le Meridien management contract.

Hotels & Motels, Hotels (except Casino Hotels) and Motels, Hotels and motels, Officials and employees, Hands, Guy, Le Meridien Hotels and Resorts Ltd., Nomura Principle Finance Company Ltd.

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