Raven earnings rise but warns on sanctions August 26, 2014 RAVEN Russia said yesterday that it planned to boost its payout to shareholders after a positive set of results, despite warning that sanctions on Russia could pose an increasing risk to the company. The £530m London-listed firm supplies warehouse space for blue-chip companies in Russia such as Pepsi and has long been a favourite of [...]
WPP results ‘ravaged’ by strength of the pound August 26, 2014 The world’s largest advertising company, WPP, reported a 1.5 per cent rise in profit to £532m in the first half of the year yesterday, hampered by the effects of a strong pound. WPP reported that the strength of sterling had “ravaged” its billings and at a constant currency the same profits would have risen 15.6 [...]
Ride a black swan? WPP’s Sir Martin Sorrell adds Russian crisis to his list August 26, 2014 The Sochi Winter Olympics in February were a key turning point in the West’s deteriorating relationship with Russia, says WPP boss Sir Martin Sorrell who now lists the Russian crisis as the most threatening of his unknown unknowns – or “black swans” – supplanting the Eurozone debt crisis. “I think we made a mistake [...]
Regus steps up expansion but shares take a hit August 26, 2014 REGUS boss Mark Dixon sought to ease concerns after the company announced yesterday it had brought forward its expansion plans, saying the benefits would far outweigh costs to the business in the short term. The workspace provider, which runs around 2,000 centres across the world, said it expected to open at least 450 new sites [...]
Fujifilm is in the picture as anti- flu drug is earmarked for ebola August 26, 2014 The Japanese government yesterday gave Fujifilm the go ahead to make an experimental anti-flu drug available for use on ebola patients. Favipiravir, developed by Fujifilm subsidiary Toyama Chemical, was approved as a flu treatment by Japan’s health ministry in March. It now seems to have potential applications for ebola treatment, too. Fujifilm is now involved in [...]
CWC acquires Grupo Sonitel August 26, 2014 LONDON-listed Cable & Wireless Communications (CWC) has acquired Panama-based Grupo Sonitel, an IT and telecoms business with clients in Panama, El Salvador, Nicaragua and Peru, for $36m (£21.7m). CWC said the deal, which included an additional $5m contingent consideration, would help to boost business-to-business and business-to-government operations in the region.
Bunzl is hit by strong pound August 26, 2014 STRONG revenue growth was eliminated at international distribution and outsourcing group Bunzl in the first half of the year due to the strength of sterling, as it also continued its acquisition drive. The impact of the pound meant revenue growth was down one per cent, instead of being up seven per cent on a constant [...]
Amazon’s Twitch takeover puts tech deals at 14-year high August 26, 2014 Amazon's $970m (£585m) takeover of eSport video website Twitch on Monday pushed the value of global tech M&A (mergers and acquisitions) so far this year to $174bn, its highest level since 2000, according to industry data. Global tech M&A activity is up 54 per cent compared to the same period last year, according to [...]
Britain leads economic growth among biggest OECD countries August 26, 2014 THE UK’S economy is outstripping all other big rich countries, the Organisation for Economic Co-operation and Development (OECD) said yesterday. Britain’s GDP grew by 3.2 per cent on the year to the second quarter – far faster than second placed US, which registered an expansion of 2.4 per cent. The strong growth puts the UK firmly [...]
Safe havens at risk of crunch August 26, 2014 ASSETS like gold and US government bonds could be vulnerable to a crunch as the recovery takes off, Blackrock warned yesterday. The so-called safe haven assets shot up in price in the crisis, and so could drop back as investors returned to riskier assets such as equities. “Gold and short – to intermediate – duration US [...]