In brief: LinkedIn gets advice on going public
Published 07/01/2011 | 05:00
LINKEDIN, the largest networking site for online professionals, is said to have hired banks to advise on an initial public offering this year. Morgan Stanley and JPMorgan Chase, Bank of America, and LinkedIn are aiming to complete an IPO prospectus by the end of the first quarter.
Shannon Stubo, a spokeswoman for LinkedIn, said, "an IPO is one of many tactics that we could choose to pursue". An IPO would follow a $500m (€384m) investment in Facebook, owner of the most popular social network, by Goldman Sachs and Russia's Digital Sky Technologies. Their stake valued Facebook at $50bn. LinkedIn would be the first major US social-networking website to go public in an initial offering.
Profits fall 81pc at National Radio Cabs
PRE-TAX profits at the country's largest taxi company, National Radio Cabs (NRC), last year plunged by 81pc from €426,736 to €78,131. In accounts just filed to the Companies Office, NRC sustained the severe decrease in pre-tax profits after the company's revenues dropped by 25pc from €15m in 2009 to €11.2m to the end of February 2010.
Airbus wins order for six new A380s
AIRBUS won an order for six A380s from Asiana Airlines, building momentum for sales of the superjumbo after a dry spell of more than three years. Asiana, South Korea's second-biggest carrier, said yesterday it will take its first A380 in April 2014 in an order valued at $1.8bn (€1.4bn) as it challenges larger rival Korean Air Lines on intercontinental routes.
Financier 'not fit for trial', court hears
ALLEN Stanford, the financier accused of leading a $7bn (€5.4bn) investment fraud scheme, has a "major depressive disorder", a psychiatrist testifying on his behalf said in a hearing on his fitness to stand trial. Dr Victor Scarano yesterday told a court in Houston that Stanford (60), is addicted to an anti-anxiety drug, suffers from a traumatic brain injury he suffered in a beating and isn't competent to stand trial on January 24. Each side has said a delay is warranted.