The Artesian Blog takes a look at the business headlines:
National Express gets new bid - Spain's Cosmen family and private equity group CVC have made a joint takeover approach for National Express, the Financial Times reported on Friday, citing people close to the situation.
The paper said the Cosmens, who are the transport group's largest shareholders, with an 18.5 percent stake, and CVC want to acquire all of National Express in a deal that would value it at more than 500 million pounds. (full story)
Economy expected to shrink slower - The economy probably shrank for the fifth quarter running in the three months to June but the pace of decline should have eased as the worst of the recession passes.
Official figures due on Friday at 9:30 a.m. are expected to show GDP fell by 0.3 percent in the second quarter of 2009, according to a median forecast in a Reuters poll. (full story)
Microsoft profits down by a third - Microsoft has reported disappointing results for the April to June quarter, with profits down by almost a third.
Net profit for the period was $3.1bn (£1.9bn), down by 29% from the same period a year earlier. Revenue came in at $13.1bn, down 17% from a year ago. (full story)
Hopes for 3,000 Corus jobs fade as consortium walks - Hopes of saving 3,000 jobs at Teesside's last remaining steel plant appeared to be dashed on Thursday night after a consortium of four international companies abandoned truce talks with the plant's owner, Corus, and pressed ahead with plans to ditch an allegedly legally-binding contract. (full story)
Vodafone continues with cost-cutting drive - Vodafone, the mobile phone operator, expects to be two thirds of the way through its £1 billion cost-cutting drive by the end of its current financial year next March, the company said in a trading statement this morning.
The cuts include about 500 in Britain, the company confirmed in February, about a third at its Newbury headquarters in Berkshire. Last month Vittorio Colao, the chief executive, said that 200 more jobs would move from Newbury to a new headquarters in Paddington. (full story)
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