Buffett ups his stake in Tesco to more than 3pc June 24, 2010 US investor Warren Buffett has raised his stake in British supermarket group Tesco to over three per cent, according to a regulatory statement published yesterday. Buffett’s investment firm, Berkshire Hathaway, has bought around two million shares in the world’s third biggest retailer to take its stake to 242m, or 3.02 per cent of the total. [...]
Global stocks to post good year poll finds June 24, 2010 The world’s major stock markets should trade higher a year from now but fears of a slowing economic recovery might permit only modest gains in some rich-world markets, a Reuters poll showed yesterday. Against expectations of previous quarterly Reuters polls, most stock markets from both the rich world and emerging markets are on course to [...]
Fabric lives on after firm is bought by private investors June 24, 2010 FABRIC nightclub will stay open after it was bought by private investors yesterday. The club’s Administrators PricewaterhouseCoopers (PwC) said Fabric 591, the company that owns the landmark venue, had been sold for an undisclosed sum to Fabric Life Limited, a company formed eight weeks ago by a group of supporters. It went into administration last [...]
Google wins piracy battle with Viacom June 24, 2010 Google won a landmark victory in the battle over pirated content yesterday after a US judge threw out a $1bn (£670m) lawsuit accusing the company of turning a blind eye to illegal videos on its YouTube service. The ruling against Viacom, which the firm has vowed to fight, will have far reaching implications for the [...]
Mark Zuckerberg says Facebook will float in the future June 24, 2010 THE world’s biggest social networking site will float at some point, according to its founder yesterday. However, he would not put a time-frame on the listing of the firm, which has been privately valued at over $1bn (£670m). He also said Facebook is poised to surpass 1bn users. The only major markets where the site [...]
Apple fans rush to buy first iPhone 4s June 24, 2010 APPLE fans queued for more than six hours to get their hands on the first batch of the firm’s new iPhone 4 yesterday. The iPhone fever was heightened by rumours the same supply issues that dogged the release of the iPad would strike Apple’s latest must-have gadget. But while supply was plentiful yesterday, early reports [...]
Micro Focus shares hit by departure of its CFO June 24, 2010 SHARES in IT firm Micro Focus International fell 11 per cent yesterday as the departure of chief financial officer Nick Bray, nine months after former chief executive Stephen Kelly left, overshadowed better-than-expected results. Micro Focus’ results were boosted by the acquisitions of two applications testing businesses last year, which helped profit rise 39 per cent [...]
Porn sites to get .xxx addresses June 24, 2010 THE company that oversees web addresses is expected to give the go-ahead today for the creation of a .xxx suffix for websites with pornographic content, company officials said yesterday. The Internet Corporation for Assigned Names and Numbers (ICANN), which oversees the Internet on behalf of the US government, has in the past resisted creating a [...]
Weak Irish growth may hit deficit plan June 24, 2010 THE clear possibility of weaker growth than Irish authorities anticipate could endanger Dublin’s plans to cut its budget deficit, the International Monetary Fund said yesterday. Ireland has so far stayed the course with its fiscal reform plans without too much resistance from voters but there was a risk “consolidation fatigue” could set in, the IMF [...]
Pennon expands its recycling subsidiary June 24, 2010 VIRIDOR, a subsidiary of waste management group Pennon, has bolstered its recycling business after completing a £23.8m acquisition of Reconomy Recycling Solutions. The acquisition is part of Viridor’s plans to expand its recycling business, which will be bolstered by Reconomy’s East Anglia and South Midlands operations. Colin Drummond, chief executive at Viridor, said: “The UK’s [...]