Articles about Offshore

To defend offshore finance bods looting developing countries of their tax cash

Worstall @ the Weekend I have been set a task by Reg Commentard Salamander: to critique or defend the offshore finance system. This should be easy enough as I'm clearly a pig dog running lackey of the plutocrats and so the answer is just yes. Whatever they pay me to say. Sadly, there are no plutocratic cheques flying around, just those from the …
Tim Worstall, 5 Apr 2015

Apple has THREE TIMES as much cash as US govt, TWICE the UK

Apple has three times as much cash on hand as The US government, and over twice as much as the UK. These figures come to us from the Bank of America's wealth-management arm, US Trust, as reported by London's Telegraph. In its most recent quarterly SEC filing, Apple reported that it had $158.8bn (£94.9bn) in cash and cash …
Rik Myslewski, 11 Apr 2014
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Hundreds of UK CSC staff face chop, told to train Indian replacements

Computer Science Corporation (CSC) workers heading for the chopping block in Britain have been asked to train their replacements in India and the Czech Republic. Some 750 staff in the UK have been threatened with redundancy under the IT giant's global workforce shakeup, and roughly 200 roles will be moved offshore. CSC - …
Paul Kunert, 2 Aug 2013
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Embrace your outsourced future

The impact of outsourcing and the internet means people in the UK will need to create their own jobs, rather than hope to walk into a job as in the past. There is hardly a job left which cannot be simply and cheaply outsourced and offshored. Where once manufacturing work was sent abroad, increasingly it is design work and …
John Oates, 1 Feb 2011
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Reseller'n'hosting specialist offshores jobs

2e2, which recently bought Morse, is considering sending its support desk jobs to India. Codenamed 'Project Victoria', the process is due to kick off after 25 July when 2e2 should have finished due diligence with Patni - the company to which it is outsourcing the outsourcing. Patni will take on 2e2 support staff except for …
John Oates, 28 Jun 2010
The Register breaking news

New mega offshore windfarms could supply 2% of UK energy

Licences have been awarded to develop nine massive new offshore wind farms which could - if fully exploited - deliver as much as two per cent of the UK's present day energy requirements. Developers have been encouraged to move ahead with expensive offshore wind projects by the government's promise to double the Renewables …
Lewis Page, 11 Jan 2010
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Rebrand ahoy for tainted Satyam

Indian outsourcer Satyam is to rebrand itself in order to draw a line under the revenue-boosting shenanigans of its ex-chief executive and founder, who is still awaiting trial. Ramalinga Raju admitted falsely inflating Satyam revenues by about $1bn. He is still awaiting trial along with two auditors from PwC accused of signing …
John Oates, 23 Jun 2009
The Register breaking news

BT slammed for 'importing' cheap Indian contractors

BT has been accused of laying off expensive UK contractors and replacing them with Indian staff. Workers brought in using intra-company transfers are replacing contractors for about half the price, a contractor told BBC Radio 4. According to a contractor working for BT Global Services on the National Programme for IT - the …
John Oates, 4 Jun 2009
The Register breaking news

UK2 brings support back to Blighty, culls execs

Hosting provider UK2 has shut its overseas call centres in favour of a UK support team and this week culled executives as part of a major reorganisation. About 40 jobs went in India and about 35 in Ukraine when the firm made the switch. Managing director Ditlev Bredahl said: "We actually think that the overall changes we've …
The Register breaking news

Another 0.03% of Blighty goes wind powered

The largest onshore windfarm in Europe goes fully on line today, and a massive offshore scheme in the Thames Estuary will now move ahead. But experts have warned that many hundreds more such projects will be required - at massive cost to electricity users - if the UK is to shake its dependence on fossil fuels. The onshore …
Lewis Page, 20 May 2009
The Register breaking news

Jobs bloodbath at Brit, Danish wind turbine factories

International wind-turbine maker Vestas has announced that it will lay off 1900 employees including 600 in the UK. The news was well received by markets, with Vestas raising £700m in a Danish share issue the next day and announcing investments in Chinese plants. Writing in the company magazine, Vestas president and CEO Ditlev …
Lewis Page, 29 Apr 2009
The Register breaking news

Darling's £0.5bn offshore windfarm 'leccy-bill stealth levy

Budget 09 A lot of people are wondering how the British government can deliver colossal bank bailouts and pay rapidly-climbing dole bills - all the while collecting less taxes as people are laid off and companies founder - and yet still find money to subsidise green energy. Chancellor Alistair Darling has found a cunning way around the …
Lewis Page, 23 Apr 2009
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Tech Mahindra seeks approval for Satyam takeover

Tech Mahindra, the successful buyer of Satyam, has asked European and US competition authorities to approve the takeover. Sources told the Wall Street Journal that Tech Mahindra filed for regulator approval in Europe on Monday and would do the same for US regulators on Tuesday. Four Tech Mahindra executives, including MD …
John Oates, 21 Apr 2009
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Race heats up for Satyam

The race to buy Satyam is heating up and the board could make a decision as early as this Monday. There are believed to be four bidders left in the race to buy the troubled outsourcer. These include building firm Larsen & Toubro, Tech Mahindra, Cognizant Technology and private equity investor Wilbur Ross. The four will be …
John Oates, 8 Apr 2009
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Satyam races to find buyer ahead of Indian election

Satyam hopes the sale of its majority stake will be completed before the Indian general election which starts in mid-April. The company has a shortlist of bidders for its business but they are likely to have to bid blind for the firm - they will be given access to Satyam's books, or rather a "data room", but the full …
John Oates, 31 Mar 2009
The Register breaking news

Fasthosts to offshore support staff

Budget web hosting provider Fasthosts will soon make almost all of its UK customer service team redundant, to be replaced by call centres in Romania and the Phillipines, staff were told on Wednesday. Up to 38 posts are set to go at Fasthosts' Gloucester HQ as a result. In a statement to The Register today, the firm said the " …
The Register breaking news

Abu Dhabi emir rescues Thames Estuary mega-windfarm

The government of Abu Dhabi has stepped in to rescue the financially-troubled London Array mega-windfarm project, intended to build a massive forest of turbines in the middle of the Thames estuary. In a deal inked today, the Masdar Initiative of the Abu Dhabi Future Energy Company (ADFEC) acquired 20 per cent of the Array …
Lewis Page, 16 Oct 2008
The Register breaking news

Shell pulls out of Thames Estuary mega-windfarm

Oil giant Shell has pulled out of the world's biggest windfarm project, in a move which has cast doubt over the scheme's future. The £2bn London Array, intended to be built in the Thames Estuary, will need to find a new backer in order to proceed. For the London Array Project, Shell was partnered with UK power operator E.ON …
Lewis Page, 1 May 2008

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