20 Business Monday, February 1, 2010 D Business Bites FRENCH automaker PSA Peugeot Citroen is recalling 100,000 cars across Europe to change accelerator pedals on two models designed and produced in a joint venture with Toyota. The recall involves Citroen C1 and Peugeot 107 models produced in the Czech town of Kolin in the 50-50 venture with Toyota, which extended a massive recall to some of its models in Europe and China last week. The recall is a preventive measure, said the companys spokesman Jean-Marc Sarret, adding that there has been no evidence of accidents or safety problems linked to the pedals. Peugeot recalls 100,000 cars Over a barrel: Lukoil president Vagit Alekperov, left, shakes hands with Iraqi oil officials in front of oil minister Hussain al- Shahristani, centre. The Russian corporation has sealed a multi-billion- dollar deal to operate one of Iraqs largest oil fields with known reserves of 13billion barrels for the next 20 years Picture: AP UNIONS representing thousands of workers at Cadbury in the UK voiced fresh fears for jobs on the eve of the expected takeover of the chocolate maker by US giant Kraft. Cadbury shareholders will vote today on a revised offer from Kraft, but Unite called on Kraft to make its intentions clear, warning that workers were extremely worried for their future. Cadbury workers will lobby the UK government today for support to win jobs and investment guarantees from their new employer. The Dairy Milk maker employs about 1,100 people at bases in Coolock and Tallaght in Dublin and Rathmore in Co Kerry. Fresh fears for Cadbury jobs Thousands of jobs to go at drugs company Glaxo By Nicky BurridgeDRUGS giant GlaxoSmithKline is ex- pected to announce plans to cut up to 4,000 jobs this week as part of its on- going restructuring. It is thought most of the cuts will be made to its European and US work- force, as the group shifts its focus to emerging markets, according to a Sun- day newspaper. The group, which employs about 1,500 people in Ireland and 99,000 staff worldwide, is looking for 1.96billion of annual cost savings by the end of 2011, and trying to improve the efficiency of its research and de- velopment arm. GlaxoSmithKline (GSK), which manufactures pills for conditions such as heart disease and diabetes, makes the top-selling anti-depressant Serox- at, as well as consumer products in- cluding household names, Lucozade, Ribena and Sensodyne toothpaste. The company is also shifting its fo- cus away from low-growth markets in the West to emerging ones, such as China, where there is greater potential to expand sales, as well as developing its consumer products division. It is expected to announce the planned job cuts alongside its full-year results on Thursday, when it is thought GSK will report a return to annual profits growth, following an 11 per cent fall during the previous financial year, boosted by sales of its swine flu vaccination. It said it was expecting a 962mil- lion sales lift in the final three months of its financial year from sales of the vaccination. Overall, analysts are ex- pecting the group to report a 12 per cent rise in profits to 10billion, with sales of 32.52billion. Within this, the consumer products division, is expected to report an 18 per cent jump in annual sales to 5.4billion. The announcement by Glaxo would be further bad news for the pharma- ceutical sector, after rival AstraZeneca said another 8,000 jobs will go from its global operations between now and 2014, on top of 12,600 already cut. GSK lowered its financial guidance for 2010 and warned that it faced chal- lenges from generic competition as its drugs patents run out. Best-seller: Tablets of GSKs anti-depressant drug Seroxat TENDERS have been invited to roll out the planned 15million national postcode plan by the end of next year. The Department of Communications said the selected consultants will begin work in late March. Minister for Communications, Eamon Ryan, said Ireland was the only country in the EU that did not have postcode system in place. The future economy depends on a national system which can access and collate spatial data, he said. Mr Ryan was criticised last year for introducing the plan when public spending was being cut. But the department MOBILE phone company O2 has been announced as the sponsor of disability support services at National College of Ireland to be headed-up by the colleges student support officer, Stephen Kennedy. The colleges disability support service will offer guidance, encouragement and support for students with disabilities currently attending NCI. THE Governments pension policy is failing to address the crisis in private sector pensions, according to the latest survey from the Irish Business and Employers Confederation (Ibec). Ibec director Brendan McGinty said: It is time the Government and the Pensions Board faced up to the scale of the difficulties defined benefit pension schemes are facing. In a survey of 253 employers, NEW copies of books published by Macmillan were unavailable on Amazon.com last weekend a drastic step in the ongoing dispute over e-book prices. Macmillan CEO John Sargent said he was told its books would be removed from the online store, as would e-books for Amazons Kindle e-reader. Mr Sargent characterised the dispute as a disagreement over the long-term viability and stability of the digital book market. Macmillan and other publishers have criticized Amazon for undercharging for best-selling e- books on its Kindle e-reader, with prices less than half what they charge for hardcovers. Amazon book row escalates Recall: Peugeots Logo 62 per cent said they faced difficulties in funding their pension scheme, while half are considering increasing employee contributions and 8 per cent have closed their scheme entirely. said it would bring economic benefits and improve Government planning, as well as speed up the postal service. business@metroherald.ie Business & Finance PRIVATE businesses in Ireland score higher than our European neighbours in innovation and new products, according to Opportunity Knocks? The survey from KPMG and Ibec, carried out in eight EU states, found 65 per cent of Irish firms plan on developing new products this year, compared with an average of 55 per cent. index.html2.html3.html4.html5.html6.html7.html8.html9.html10.html11.html12.html13.html14.html15.html16.html17.html18.html19.html20.html21.html22.html23.html