YouView gets green light from Ofcom October 19, 2010 OFCOM has effectively given the green light to a controversial video-on-demand service backed by the BBC after declining to launch a competition investigation. The YouView service – previously codenamed “Project Canvas” – is now due to launch by March next year. The platform will allow users to stream on demand content from a number of [...]
Tube boss says sorry to the thousands of commuters forced to walk on tracks October 19, 2010 THE HEAD of the London Underground apologised for a second day of Tube chaos yesterday, which saw thousands of commuters forced to climb out of trains and walk to safety through pitch-black tunnels. The Victoria line was suspended after a train broke down near Seven Sisters station at peak rush hour, stranding around 400 passengers [...]
Autonomy bounces back with robust set of results October 19, 2010 AUTONOMY staged a partial recovery yesterday after its disastrous profit warning earlier this month – which sent its shares falling 17 per cent – an update it now describes as “conservative”. The software giant, which enables searches of information including emails, phone conversations, documents and video, posted third quarter pre-tax profit of $86.3m (£55m), a [...]
Tech giant continues to divide opinion October 19, 2010 AUTONOMY is one of the most divisive companies in the FTSE 100. To the bulls, it is the closest thing Britain has to Microsoft or Google, a genuine trailblazer in the field of meaning-based computing (technology that can understand human interaction). For the bears, the firm’s needless complexity masks the fact that growth – which [...]
O’Leary wants Aer Lingus October 19, 2010 Ryanair hopes the Irish government’s financial woes will help the low-cost carrier finally seal a takeover of Aer Lingus, Ryanair chief executive Michael O’Leary told a German newspaper yesterday. Ryanair, which owns almost 30 per cent of Aer Lingus, has tried twice to take over its rival but has struggled to overcome opposition from the [...]
Xstrata ups its copper production October 19, 2010 Xstrata, the miner, yesterday revealed mixed third-quarter production figures for its two key products, with an increase in copper output and a fall in coal, as strong commodity prices pointed to a surge in annual profit. The Anglo-Swiss company, which has switched focus from takeovers to building mines, also released initial data about the size [...]
Bellway sees muted house price rises October 19, 2010 Bellway said the autumn pick up in house sales had been muted, leading the housebuilder to cut its full-year sales target as uncertainty around the government’s spending review crimps confidence. The housebuilder, which posted full-year results in line with expectations, is the first housebuilder to comment on the traditionally active autumn selling period. A stagnant [...]
Cove in African gas find October 19, 2010 Cove Energy said its licence partner US oil major Anadarko found more than 416 net feet of natural gas at the deepwater Barquentine exploration well in Mozambique, sending the British oil explorer’s shares to an all-time high. Interest in offshore East Africa, which is much less explored than West Africa, has picked up since the [...]
Petroneft raises $43m for Russian drilling October 19, 2010 Petroneft Resources, the Russia-focused oil and gas explorer, raised $43m (£27m) to finance the development of two of its Russian fields. The Aim-listed firm sold 63,125,000 new ordinary shares at 43p each to raise the cash. The firm said it will use the money to accelerate exploration and business development at its licences 61 and [...]
Jupiter flying high as assets shoot up 12pc October 19, 2010 ASSET manager Jupiter posted a 12 per cent rise in assets under management to £22.2bn at 30 September, trumping analyst forecasts and lifting its shares sharply yesterday. The company, which listed on the London Stock Exchange this summer, reported net inflows of £734m in its third quarter as investors flocked to its mutual funds, especially [...]