Global STM group Reed Elsevier has reported a 16% rise in sales in 2008, with revenue up to £5.3bn up by 7% without currency fluctuations. Reported operating profit grew by 1% to £901m, with adjusted operating profit up 21% to £1.4bn.

Divisionally, its science unit recorded growth of 4% to £1.7bn, its legal...

The appointment of Ian Smith, the former chief executive of the housebuilder Taylor Woodrow, as c.e.o. of Reed Elsevier, has come as a surprise to investors, who had expected the appointment of someone with a background in the industry, notes the Independent.

Gareth Thomas, an analyst at Collins Stewart, said Smith's appointment...

Reed Elsevier, the Anglo-Dutch publisher, has started its search for a successor to long-serving chief executive Sir Crispin Davis, who is likely to retire next year, reports the Telegraph. No firm date has yet been set for Davis' retirement, although it is expected to happen around the middle of next year.

Reed declined to give any...