Xerox launches $6.4bn takeover

Photocopier giant Xerox has unveiled a takeover deal which takes it into the fields of data management and technology outsourcing.

It is buying Affiliated Computer Services (ACS) in a cash and shares deal worth $6.4bn (£4bn).

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Scottish Housing Finance Gains Access to 50 Million Pound European Lending Facility From EIB

Scottish Housing Associations are to benefit from access to a £50 million European lending facility, the Scottish Government and the European Investment Bank announced today.

Housing and Communities Minister Alex Neil said gaining access to alternative sources of funding at competitive rates signalled a 'new dawn' in Scotland's ability to attract and access European investment.

The fund will offer housing associations an alternative private lending source helping to support new affordable private home developments and jobs in the house building sector.

The Minister met the Vice President of the European Investment Bank (EIB) in Brussels today to shake hands on the deal and scope out opportunities for making available European lending in other areas.

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Kesa appoints new finance director

Comet owner Kesa has appointed Dominic Platt as it finance director.

Platt will join as an executive director to the board of the electricals retailer in January.

He leaves Cable and Wireless where he is group financial controller.

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Businesses call for public finance action

Britain’s business leaders have urged whichever political party wins the general election to commit to balancing the country’s books within six years and to reducing the country’s burgeoning public sector pension deficit.

The CBI will publish a report today which sets out the demands of business for the political party that wins next year’s general election.

John Cridland, the deputy director-general of the CBI, said: “Any new government will have a lot to do in its early days, but the economy must be central to its plans, especially given the state of the public finances and the global downturn. Our proposals make clear what the priorities should be to help put our economy on the road to sustainable growth.

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Student Finance Guide Launched

In time for the start of the new academic year comes a new book from the Complete University Guide experts on how students can manage their money. Published in association with UCAS, The Complete University Guide to Student Finance explains the intricacies of the student funding system, including loans, bursaries, grants and tuition fees – and gives useful advice on how students can draw up their own budgets.

Covering accommodation, food, travel and study costs, it describes how students can fund their time at university – and, most important of all, it contains a complete list of bursaries and scholarships in higher education. This is a book that will be of especial help to those in the final year of school who are preparing to apply to university. That’s because of its list of bursaries that enables students to compare one university with another. But it will also be valuable for freshers starting out on a three- or four-year degree.

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Gold bounces back to around $1,010

Spot gold rallied to trade around $1,010 on Thursday as the precious metal continued to look to the dollar for direction, though a sense of caution prevailed due to the threat of heavy liquidation of futures positions.

Spot gold -- which fell in the previous session after the dollar turned higher -- is currently down about 1 percent from the 18-month high of $1,023.85 hit last Thursday.

"The trend of a strong euro and weak dollar is what's keeping the price of gold above $1,000," said Shuji Sugata, a manager at the Mitsubishi Corp Futures & Securities research team.

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Peru miner signs deal to control Chile gold site

Peru gold miner Minera IRL Ltd said on Wednesday it has signed a deal to acquire control of the La Falda porphyry in the Maricunga gold belt of northern Chile, where it plans to begin drilling by the close of 2009.
The London- and Lima-listed company owns the small Corihuarmi mine in southern Peru, which produced some 52,000 ounces of gold in 2008.

Minera IRL (MIRL.L) (IRL.LM) said it inked the deal to operate the La Falda project with Catalina Resources.

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