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Business in brief.

A brief look at other local business news

Still paying late

Legislation to curb the late payment of invoices by companies has had no effect, according to research from business solutions firm Experian.

Overall, the average time UK firms take to settle accounts is 57.9 days - the same as in October 1998 when the new laws were introduced.

Driving forward

Upmarket car dealer Inchcape today said that first half pre-tax profits accelerated 17.3pc to pounds 63.7m as it unveiled the acquisition of six UK BMW dealerships. The hike had been driven by a sharp rise in profits in Singapore, along with strong performances in Greece and Australia.

Siemens buy

Paris-based energy company Alstom has completed the second part of its sale of turbines to Munich-based electronics giant Siemens for pounds 76.7m.

Ad company sold

LONDON-based advertising company WPP Group has completed the purchase of debt-laden rival Cordiant Communications, the former Saatchi & Saatchi.
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Title Annotation:Business
Publication:Evening Gazette (Middlesbrough, England)
Date:Aug 4, 2003
Words:156
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