Autonomy hits back at HP’s fraud allegation September 11, 2014 Autonomy founder Mike Lynch yesterday hit back at Hewlett-Packard’s allegations of fraud by publishing a file of internal documents that he claimed contradicted some of his accuser’s most damaging accusations. HP last week publicly disclosed for the first time some of the detail behind its allegations that it was forced to write down more than [...]
BlackBerry swoops for London mobile software startup Movirtu September 11, 2014 BLACKBERRY, the struggling smartphone maker, has bought London-based startup Movirtu, a firm that makes software that allows users to have multiple phone numbers on the same device. BlackBerry yesterday said the move would help it target smartphone users who increasingly use a single device for personal calls and business. Chief executive John Chen said: “In [...]
Waitrose feels the pressure as profit declines September 11, 2014 The John Lewis Partnership warned yesterday that the grocery market would remain tough for some time, as a strong performance across its department stores helped offset a decline at its grocery chain Waitrose. The middle-class food retailer, which accounts for about two-thirds of the group’s sales, has grown its share of the market thanks to [...]
Morrisons profit halves in fight to win shoppers September 11, 2014 MORRISONS appeased investors yesterday by hiking its dividend payout by five per cent despite the troubled supermarket group reporting a plunge in first-half profits. Underlying pre-tax profits fell by 51 per cent to £181m in the six months to 3 August – its lowest in eight years – after Morrisons slashed the price of thousands [...]
Ocado dismisses concerns over Waitrose as sales beat forecasts September 11, 2014 SHARES in Ocado edged two per cent higher yesterday, after the online grocer surprised the City with a better-than-expected rise in sales. Ocado, which prides itself on its high-tech warehouses, said sales rose 15.5 per cent to £218.5m in the 12 weeks to 10 August, up from 13.4 per cent in the second quarter. Chief [...]
Analyst Views: What did you think of Ocado’s performance in the third quarter? September 11, 2014 JAMES GRZINIC | JEFFERIES Market was too concerned on slowing sales and the confirmation of an acceleration in third-quarter retail sales growth to 15.5 per cent was a relief. NICK BUBB | INDEPENDENT ANALYST The figures didn’t look too bad, although given the amount of extra capacity, it is hard to escape the feeling that [...]
David Cameron won’t rule out UK air strikes in Syria September 11, 2014 The Prime Minister has not ruled out air strikes in Syria against Islamic State (IS) militants, his spokesman confirmed yesterday. The intervention came after foreign secretary Philip Hammond said the UK would definitely not be taking part in any military air action in the country. Speaking in Berlin, Hammond said: “Britain will not be taking [...]
M&C Saatchi’s ad revenue soars on strong UK and US markets September 11, 2014 ADVERTISING giant M&C Saatchi saw revenues rise three per cent during the first half of the year, it reported yesterday, to £82.6m on the back of strong growth in the UK and US. With a 17 per cent jump in profit to £8m during the six months to 30 June, the group said it was [...]
Floral tribute for victims of 9/11 terror September 11, 2014 Friends and relatives of the nearly 3,000 victims of the devastating 9/11 attacks on New York’s World Trade Centre —many of whom worked for BGC Group — have marked the 13th anniversary of the terrorist atrocity by putting flowers, toys and photos on the names which are written at the National September 11 Memorial and [...]
Europe’s banks hit their capital buffer targets September 11, 2014 Europe’s biggest banks were closing in on their capital targets at the end of last year, global regulators at the Basel Committee said yesterday, indicating the lenders appear to have met the goals by now. Now the banks have built up the vital buffers, they should be able to dedicate more resources to lending and [...]