Jobs Outsourcing

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  • MUMBAI, Dec 14- India's Mahindra group, with interests in automobiles, finance and IT services, has agreed to buy Italian car designer Pininfarina for about 33 million euros to boost its design capabilities. The deal will be done via a new unit in which automaker Mahindra& Mahindra Ltd will hold 40 percent and Tech Mahindra Ltd, the IT outsourcing arm, will own the...

  • *CSC to buy Xchanging for 190 p/shr in cash. *Xchanging recommends CSC offer over Capita bid. Dec 9- British outsourcing company Xchanging Plc agreed to be bought by Computer Sciences Corp for about 480 million pounds after the U.S. technology consulting company topped an offer from Capita Plc.

  • Dec 9- Technology consulting company Computer Sciences Corp will buy Xchanging Plc for about 480 million pounds, the companies said, beating out other suitors in a bidding war for the insurance-focused outsourcing company. The cash offer of 190 pence per share represents a premium of about 72 percent to Xchanging's closing price on Oct. 2, the day before the...

  • LONDON, Dec 7- British outsourcing company Serco on Monday showed that its revival will be a long process, warning that revenue and trading profit would fall in 2016, due to the sale of a call centre business and some lost contracts, sending its shares down more than 10 percent. Serco, whose UK division accounts for about half of its business, said it expected revenue...

  • LONDON, Dec 7- British outsourcing firm Serco said on Monday it expected revenue and trading profit to fall in 2016, due to the sale of its offshore call center business and a number of lost contracts. Serco has suffered over the past few years, following problems with government contracts that included overcharging the British government for monitoring...

  • CHENNAI, India, Dec 5- India deployed hundreds of extra soldiers and relief workers to the flooded city of Chennai on Saturday, as criticism mounted that the government has been slow to respond to the heaviest rains in a century. Chennai has boomed as a centre for vehicle factories and IT outsourcing, but trash-filled drains and building on lake beds in the rush to...

  • CHENNAI, India, Dec 2- The heaviest rainfall in over a century caused massive flooding across the Indian state of Tamil Nadu, driving thousands from their homes, shutting auto factories and paralysing the airport in the state capital Chennai. Prime Minister Narendra Modi has blamed climate change for the rain, injecting urgency into the debate at global climate...

  • CHENNAI, India, Dec 2- The heaviest rainfall in over a century caused widespread flooding across the southern Indian state of Tamil Nadu, driving thousands of people from their homes, shutting down factories and paralysing the airport in the state capital Chennai. India's fourth-largest city is a major auto manufacturing and IT outsourcing hub for companies...

  • COLUMN-Pensions take another hit Thursday, 19 Nov 2015 | 9:00 AM ET

    CHICAGO, Nov 19- Congress pounded one more nail in the coffin of traditional pensions earlier this month- and it did not have to happen. Adding insult to injury, Congress did not increase funding for multi-employer pension funds- even though it is in much worse financial shape than PBGC's single-employer program; multi-employer premiums are not counted as...

  • Is it safe to outsource workers? Thursday, 19 Nov 2015 | 3:30 AM ET
    Is it safe to outsource workers?

    Jeff Gravenhorst, CEO of ISS, which employs more than 510,000 people, says he is certain the company has not hired potential terrorists because it has very good vetting procedures.

  • Nov 16- Insurance software maker Ebix Inc said it made a takeover approach for Xchanging Plc, valuing the outsourcing company at about 450 million pounds. Ebix said it sent a letter to Xchanging outlining a potential cash offer for the company at 175 pence per share. Xchanging, which confirmed the talks, has already agreed to a 412 million-pound cash offer from...

  • Nov 12- Outsourcing company Xchanging Plc, which has already accepted a takeover offer from Capita Plc, has received a proposal from U.S.-based Computer Sciences Corp that values the company at about 421 million pounds. Shares in Xchanging- which offers services ranging from back-office invoice processing to insurance claims settlement- surged over 7...

  • UK's Xchanging says receives takeover approach from CSC Thursday, 12 Nov 2015 | 10:55 AM ET

    Nov 12- Insurance-focused outsourcing company Xchanging Plc said it had received an approach from U.S.-based Computer Sciences Corp to acquire the company for about 421 million pounds.

  • Nov 6- United Continental Holdings Inc will not outsource more jobs in baggage handling or customer service until at least 2019 and will start "expedited" contract talks for nearly 30,000 workers, the airline said on Friday. The news marks the latest effort by United, the second-largest U.S. airline by capacity, and new Chief Executive Officer Oscar Munoz to build...

  • NEW YORK, Nov 3- Bank of America Corp, the No. 2 U.S. bank, has agreed to sell its $87 billion money-market fund business to BlackRock Inc in one of the cash-management industry's largest deals ever. "Combining our business together with the Bank of America assets and distribution puts us in a unique competitive position," said Tom Callahan, co-head of global cash...

  • Oct 1- ConAgra Foods Inc said it will cut about 1,500 jobs, or about 30 percent of its office-based workforce, and outsource technology and back office functions to reduce costs. The maker of Slim Jim beef jerky and Chef Boyardee pasta said it expects to save at least $300 million in the next three years due to the cost cuts. The company also said it plans to move its...

  • Demand from N America drives Accenture results Thursday, 24 Sep 2015 | 11:28 AM ET

    Accenture reported better-than-expected quarterly earnings and revenue, helped by strong demand in North America.

  • Sept 24- Accenture Plc, a provider of consulting and outsourcing services, reported better-than-expected quarterly earnings and revenue, helped by strong demand in North America. Accenture forecast revenue of between $7.70 billion and $7.95 billion. Accenture, whose shares were little changed in premarket trading on Thursday, also said its board approved a...

  • Accenture reports slight increase in revenue Thursday, 24 Sep 2015 | 7:11 AM ET

    Sept 24- Consulting and outsourcing company Accenture Plc reported a 1.4 percent rise in fourth-quarter revenue, helped by higher demand from its North American customers. Net income rose to $788.1 million, or $1.15 per share, in the three months ended Aug. 31, from $760.2 million, or $1.08 per share, a year earlier. Net revenue rose to $7.89 billion from $7.78...

  • *Peru's Buenaventura cuts forecast 2015 silver output. AREQUIPA, Peru, Sept 23- Mining companies in Peru are wringing bargains from contract and supply companies to weather slumping mineral prices, the head of the country's main mining association said Wednesday. But competitive operating costs still put mines in Peru at a safe distance from possible...