FERROUS STEELS ITSELF FOR LONDON FLOAT
Ferrous Resources, the Brazilian iron ore miner, confirmed its intention to list in London next month, adding momentum to a new round of mining and energy flotations in the capital of resources finance. With an expected valuation of about $4bn (£2.8bn), Ferrous could be the biggest “pure-play” iron ore company listed in London, at a time when iron ore prices are buoyant.
BIG YELLOW BRINGS BACK DIVIDEND
A pick-up in the number of housing transactions helped push Big Yellow back into profit and prompted the self-storage group to reinstate its dividend. For the full year to March 31, the group made a pre-tax profit of £10.2m ($14.7m), compared with a loss of £71.5m the year before, on revenue that fell 1 per cent to £58m.
GOOGLE SET FOR PROBES ON DATA HARVESTING
Authorities on both sides of the Atlantic on Monday moved towards investigating Google following the internet group’s disclosure that it had recorded communications sent over unsecured wireless networks in people’s homes. Peter Schaar, the German commissioner for data protection, called for a “detailed probe” by independent authorities into the practice by Google.
CRITICS HIT AT MOBILE PHONE CANCER STUDY
The largest ever international study of mobile phone safety has concluded the devices do not raise the risk of brain cancer – except possibly a slight increase in tumours among the most intensive users. The telecoms industry, which contributed $6m (£4m) to the $24m Interphone study through an “arm’s length” funding mechanism, said the findings, supported its view that mobile phones were safe.
STELIOS GIVES EASYJET A MONTH TO TOE LINE
Sir Stelios Haji-Ioannou has backed away from a fight with the board of the airline he founded, giving it a month to confirm that it is putting all expansion plans on hold. he Greek-born entrepreneur resigned from easyJet’s board on Friday, saying that he would be seeking shareholder support for moves to force the management to adopt a new strategy.
BANKERS TRADE THEIR BLACKBERRYS FOR IPHONES
Thousands of Standard Chartered bankers will be able to swap their BlackBerrys for iPhones as Apple continues to make inroads into the corporate market. The Asian-focused British bank is the latest company to adopt the iPhone, which has come to be regarded not only as a trendy toy but also as a practical device.
The Daily Telegraph
JON ASGEIR LEAVES HOUSE OF FRASER TO FIGHT FRAUD CLAIMS
Jon Asgeir Johannesson, the retail investor, has resigned as the chairman of Iceland Foods and a director of House of Fraser to fight allegations that he led a $2bn (£1.4bn) conspiracy to “loot” collapsed bank Glitnir. Mr Johannesson, who lives at an unknown location in London, was one of the original “Viking raiders” whose company, Baugur, led an investment charge on the UK high street.
YOUTUBE HITS TWO BILLION VIEWS A DAY
YouTube has exceeded two billions views a day as it celebrates the fifth anniversary since first launching in 2005. The Google-owned video site has also launched a new channel called: “YouTube 5 Year Channel” which brings together a group of clips from people around the world.
WALL STREET JOURNAL
DEMAND FOR CARS WANES IN EUROPE
New-car registrations in Europe declined 6.9 per cent last month to 1.2 million vehicles, the first decrease in 10 months, after state-backed incentive plans that propped up demand in many big countries last year either ended or started to phase out. The German and Italian markets contracted by 32% and 16% from a year earlier, respectively.
JURY SAYS NOVARTIS DISCRIMINATED AGAINST WOMEN
A federal jury on Monday found that the US unit of Swiss drug maker Novartis engaged in a “pattern or practice” of discrimination against its female employees. In its fifth day of deliberations, the jury of four men and five women found Novartis engaged in the pattern of discrimination by paying its female sales force less than its male employees.