Lastminute beefs up board
Yahoo! announces best ever results
Lastminute.com has appointed Allan Leighton as non-executive chairman of the company, replacing Pieter Bouw, who has been chairman since November 1998. Bouw will remain as a non-executive director of the board. Leighton is a non-executive director of British Sky Broadcasting Group plc, Wilson Connolly Holdings PLC, Leeds Sporting plc and, until recently, was President and Chief Executive Officer of Wal-Mart Europe.
Yahoo! has announced its best ever quarterly results - although they were "in line with expectations". Revenue was up 89 per cent to $295 million (£204 million), operating profit trebled year-on-year from $20 million to $67 million, earnings per share doubled (year-on-year) to 13 cents. However, Yahoo!'s share price fell 9.2 per cent on the news. The reason? While growth was big, it wasn't as big as previous quarters. The company claimed the third quarter is usually slower. Quarter-on-quarter traffic for all Yahoo!'s
sites was up from 680 million hits per day to 780 million hits. That's a lorra hits.
Vodafone has decided to sell its Italian mobile company Infostrada to Italian utility group Enel for £6.58 billion. The price tag of Italy second largest phone and Net company was lower than the expected £6.9 billion. The sale doesn't come as a surprise to anyone, but it is another indication that France Telecom may be annoying the industry. Originally, Infostrada was to be sold to Wind - a joint venture between Enel and France Telecom. However tension between the two over the deal led to the company being sold to Enel direct. Not that it matters much - Infostrada will now be folded into Wind. The combined company is to be floated next year.
Mick Empson has been appointed COO of Work24 - a £70 million joint venture b-2-b portal from Scottish Power and The Royal Bank of Scotland. Empson - who was the former VP of Operations at AGENCY.COM - will be responsible for the profit and loss of the business plus the strategic development of the business. ®
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