IN THE PAPERS
In the papers 17 April
17-04-2008
by Sylvia Leatham
Samsung chairman indicted | Vodafone may bid for Tiscali
The Irish Times reports that Intel beat analysts' forecasts with record first-quarter revenues of USD9.1 billion. Read the details of Intel's results on ENN.
The paper also says that e-learning firm ThirdForce had a "transformative year" in 2007, as reported by ENN on Wednesday.
The Irish Independent notes that around 100 Aer Lingus passengers were told on Wednesday night that EUR5 premium transatlantic tickets they had booked on the web were the result of a "glitch" on the airline's site and had been cancelled. "Due to a technical error in our reservation system, a small number of bookings were priced incorrectly," Aer Lingus told customers in an e-mail.
The Wall Street Journal reports that a special prosecutor in Seoul, Korea has levelled tax evasion and breach of trust charges against the leader of Samsung Group. The special prosecutor said Lee Kun-hee, Samsung's chairman, would not be arrested because that would "cause enormous disruptions" to the 59 Samsung companies, which includes Samsung Electronics. Nine other Samsung executives were indicted on similar charges as the prosecutor concluded an investigation that began in early January.
The paper also says that LG Electronics has swung to a first-quarter profit from a loss a year earlier, citing strong handset sales and gains from its investment in flat-panel maker LG Display. LG posted first-quarter net profit of KRW422.2 billion (USD427.9 million), compared with a loss of KRW122.6 billion a year earlier. Global sales rose 17 percent to a record KRW11.22 trillion from KRW9.59 trillion. South Korea's second-largest electronics maker by revenue, after Samsung Electronics, forecast better second-quarter earnings, helped by continued growth in sales of handsets and flat-screen television sets.
According to the Financial Times, Vodafone is considering joining the bidding for Tiscali as the Italian telecoms group set a deadline of 5 May for initial non-binding offers. A number of companies are expected to review a bid for the group, which could be attractive to larger companies that want to increase their share in the Italian and UK fixed-line broadband markets. A person familiar with the situation said Vodafone was considering bidding for both the whole group or just its UK assets.
The paper also says that France Telecom is in the early stages of examining a takeover of TeliaSonera, the Nordic operator, in a bid to increase its exposure to emerging markets and strengthen its position in mobile internet services. Gervais Pellisier, France Telecom's finance director, told the newspaper his company was looking at a possible tie-up with the Swedish-Finnish operator as well as other options, including Telenor of Norway.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 