Global revenues from climate-related businesses such as energy efficiency rose by 75% in 2008 to $530 billion and could exceed $2 trillion by 2020, HSBC Global Research estimated.
In the 2006 Stern Review on the economics of climate change, climate-related revenues were forecast to climb to $500 billion by 2050. “We can see that this seemingly huge figure has already been surpassed well ahead of time as more and more businesses adapt their business model,” said Joaquim de Lima, global head of quant research for equities at HSBC.
The climate sector has surpassed the size of the global aerospace or defence industry, with the United States, Japan, France, Germany and Spain accounting for 76% of global climate revenues, the report found. For revenues to rise to $2 trillion, the way energy is generated and used needs to change and continued government support is needed.
The four core investment pillars will be low-carbon energy production, energy efficiency, control of water, waste and pollution and climate finance, the report said. Energy efficiency recorded the highest investment returns in the year to date at 30%.
“This is a very significant trend given the substantial share of climate stimulus funds that have been directed at energy efficiency and energy management by governments across the globe,” HSBC analysts said.
Agencies
Showing posts with label revenues. Show all posts
Showing posts with label revenues. Show all posts
Saturday, September 19, 2009
Monday, March 2, 2009
Will HCL Tech layoff 450 employees?
IT services company HCL Technologies has asked 450 employees at its Delhi and Bangalore offices to leave. A majority of those axed were on the bench.
An HCL Technologies official, on the condition of anonymity, said that the company had sacked 400 people in Delhi and another 50 in Bangalore in the last one-two months. The firm had earlier asked those on the bench, the buffer of employees kept on the rolls for new projects, to get assigned to projects or face the prospect of being asked to leave the firm, he said.
In an email reply, a company spokeswoman didn’t comment on the number of people sacked by the company but indicated that the move was linked to the performance of employees.
“HCL follows a systematic process of performance review and development, and the expectation of the organisation is for employees to meet the stringent performance standards. This is a routine and ongoing process,” she said.
As of December 31, 2008, HCL had about 52,957 employees. The global downturn has impacted the revenues of clients of Indian IT companies, thereby dampening demand for software services.
Agencies
An HCL Technologies official, on the condition of anonymity, said that the company had sacked 400 people in Delhi and another 50 in Bangalore in the last one-two months. The firm had earlier asked those on the bench, the buffer of employees kept on the rolls for new projects, to get assigned to projects or face the prospect of being asked to leave the firm, he said.
In an email reply, a company spokeswoman didn’t comment on the number of people sacked by the company but indicated that the move was linked to the performance of employees.
“HCL follows a systematic process of performance review and development, and the expectation of the organisation is for employees to meet the stringent performance standards. This is a routine and ongoing process,” she said.
As of December 31, 2008, HCL had about 52,957 employees. The global downturn has impacted the revenues of clients of Indian IT companies, thereby dampening demand for software services.
Agencies
Infosys cuts five percent of Australia staff
Top IT firm Infosys Technologies is restructuring its Australian operations. This has created some redundancies, downsizing its workforce at Infosys Australia by around 5 per cent, a source briefed in the matter said.
The subsidiary employs 360 people, a majority of them from Expert Information Services -- the first acquisition Infosys Australia made six years ago.
Infosys board member and director for human resources Mohandas Pai confirmed that there were some separations from Infosys Australia. Responding to a mail, he said, “We have had an organisational restructuring in our Australia subsidiary and as a result, some positions have become redundant. It is the first time after the acquisition that this is being done.”
The tech leader has, however, promised that the laid-off employees would get assistance for outplacement as well as severance pay. A few months ago, Gary Ebeyan, who used to head Infosys Australia, quit the firm citing personal reasons. He was replaced by Jacqueline Korhonen, a former IBM executive. Revenues and profits of Infosys Australia have been slipping in the past three quarters of the fiscal in part due to the impact of the currency movements.
From a first quarter revenue of $34 million and a net income of $3 million, its second quarter revenue slipped to $30.84 million and net income to $2.8 million. In the third quarter, revenue fell further to $26 million and net income to $1.62 million.
“The Australian dollar is weakening significantly,” explained an analyst, who said Infosys could be laying off staff in other regions such as the UK as well. In Australia, Infosys’ largest customer is Telestra, he added.
Agencies
The subsidiary employs 360 people, a majority of them from Expert Information Services -- the first acquisition Infosys Australia made six years ago.
Infosys board member and director for human resources Mohandas Pai confirmed that there were some separations from Infosys Australia. Responding to a mail, he said, “We have had an organisational restructuring in our Australia subsidiary and as a result, some positions have become redundant. It is the first time after the acquisition that this is being done.”
The tech leader has, however, promised that the laid-off employees would get assistance for outplacement as well as severance pay. A few months ago, Gary Ebeyan, who used to head Infosys Australia, quit the firm citing personal reasons. He was replaced by Jacqueline Korhonen, a former IBM executive. Revenues and profits of Infosys Australia have been slipping in the past three quarters of the fiscal in part due to the impact of the currency movements.
From a first quarter revenue of $34 million and a net income of $3 million, its second quarter revenue slipped to $30.84 million and net income to $2.8 million. In the third quarter, revenue fell further to $26 million and net income to $1.62 million.
“The Australian dollar is weakening significantly,” explained an analyst, who said Infosys could be laying off staff in other regions such as the UK as well. In Australia, Infosys’ largest customer is Telestra, he added.
Agencies
Sunday, March 1, 2009
Is HCL BPO eyeing acquisition in US, UK and Australia?
HCL BPO is looking for acquisitions of platform-based BPO firms in the US, UK and Australia with revenues of up to $250 million, its chief executive said. “We want to de-link revenue growth from headcount growth. So, we want to acquire companies in English-speaking countries that derive revenues from output or outcome-based pricing and platform-led services,” HCL BPO president and CEO N Ranjit said.
Last year, the BPO arm of HCL Technologies had acquired two firms —UK-based Liberata Financial Services (LFS) and US-based Control Point Solutions. The BPO firm aims to earn revenues of $1 billion by 2010-11 and expects about 56% or $560 million to come from acquired entities.HCL BPO had revenues of about $223 million in the year-ended June 2008.
Confident of closing at least one buyout this year, Ranjit said the company’s strategy is to buy loss-making or marginally profitable entities at low prices and turning them around. So, while BPO firms typically go under the hammer at 1.5-2 times their revenues, Control Point, with revenues of $27 million, was bought for $20 million. HCL BPO paid $2 million to acquire LFS’ fixed assets and committed an investment of another $24 million. The firm is confident of turning around both acquired companies by the end of calendar year 2009.
The two acquisitions impacted the margins of the BPO firm. In the quarter ended Dec ‘08, its EBITDA margin went down to nearly 14% from 26% a year ago. “We completed the integration of Control Point and LFS in the Oct- Dec quarter. We are hopeful of achieving margins of over 25% by 2009-end ,” Ranjit said. The BPO firm’s revenues were also impacted due to the pound losing value against the dollar as about 72% of its revenues come from the UK.
The company, which only has one Indian client in a large auto maker, said it will not look at increasing its exposure to the domestic market at this stage. “Until Indian companies show willingness to pay more for value addition and information security, we will not look at the market,” Ranjit said.
Agencies
Last year, the BPO arm of HCL Technologies had acquired two firms —UK-based Liberata Financial Services (LFS) and US-based Control Point Solutions. The BPO firm aims to earn revenues of $1 billion by 2010-11 and expects about 56% or $560 million to come from acquired entities.HCL BPO had revenues of about $223 million in the year-ended June 2008.
Confident of closing at least one buyout this year, Ranjit said the company’s strategy is to buy loss-making or marginally profitable entities at low prices and turning them around. So, while BPO firms typically go under the hammer at 1.5-2 times their revenues, Control Point, with revenues of $27 million, was bought for $20 million. HCL BPO paid $2 million to acquire LFS’ fixed assets and committed an investment of another $24 million. The firm is confident of turning around both acquired companies by the end of calendar year 2009.
The two acquisitions impacted the margins of the BPO firm. In the quarter ended Dec ‘08, its EBITDA margin went down to nearly 14% from 26% a year ago. “We completed the integration of Control Point and LFS in the Oct- Dec quarter. We are hopeful of achieving margins of over 25% by 2009-end ,” Ranjit said. The BPO firm’s revenues were also impacted due to the pound losing value against the dollar as about 72% of its revenues come from the UK.
The company, which only has one Indian client in a large auto maker, said it will not look at increasing its exposure to the domestic market at this stage. “Until Indian companies show willingness to pay more for value addition and information security, we will not look at the market,” Ranjit said.
Agencies
Wednesday, December 3, 2008
A lot more job cuts coming?
We are witnessing the worst of financial services job cuts in history? Well, here's one way to look at it: If banks were bent on maintaining their compensation ratio--that is, their compensation costs as a percentage of revenues--they would have to lay off many, many more employees, says a financial analyst.
It says the results of its analysis "range from the farcical (Merrill Lynch) to the disturbing (Credit Suisse), and the reassuring (Goldman and Morgan Stanley)." More specifically, Merrill Lynch would have to lay off more than 58,000. Credit Suisse would have to lay of 16,000. JPMorgan would have to layoff more than 5,000. Meanwhile, Goldman Sachs and Morgan Stanley would not require any additional layoffs, adds the analyst.
Source: Agencies
It says the results of its analysis "range from the farcical (Merrill Lynch) to the disturbing (Credit Suisse), and the reassuring (Goldman and Morgan Stanley)." More specifically, Merrill Lynch would have to lay off more than 58,000. Credit Suisse would have to lay of 16,000. JPMorgan would have to layoff more than 5,000. Meanwhile, Goldman Sachs and Morgan Stanley would not require any additional layoffs, adds the analyst.
Source: Agencies
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