Software firm Zoo falls to loss June 28, 2010 THE Sheffield-based firm that supplies software to Hollywood film studios yesterday reported a loss despite a spike in revenue. Its revenue increased 33 per cent to $15.1m (£10.04m) but it still drooped to a pre-tax loss of $868,000, compared to a $380,000 profit the year before. Zoo specialises in software that allows movies to be [...]
Thinking more inclusively can boost business June 28, 2010 Every entrepreneur I have ever met, and that’s quite a few, has expressed on some level exasperation with the public for not getting what they are bringing to life. The best ones focus on educating their audiences; the ones who never breakthrough drivel in their exasperation. To some extent, they are right. A car is [...]
Cobham wins missile contract June 28, 2010 Defence technology group Cobham has been awarded a $17.4m contract from Raytheon Missile Systems for its Cobham Sensor Systems business to make microwave modules for use in ground-to-ground and air-to-ground missiles. Andy Humen, president of Cobham Sensor Systems, said: “This award is a further indication of the strong technical and business relationship that exists between [...]
Special projects win for Anglian June 28, 2010 Anglian Water has won a five-year special projects framework worth up to £90m from housebuilder Galliford Try’s water business in a joint venture with Imtech. The framework will include one-off large schemes such as biosolids treatment plants. Galliford Try chief executive Greg Fitzgerald said: “We are delighted to renew our longstanding relationship with Anglian Water, [...]
Theo Fennelllaunches into youth market June 28, 2010 BRITISH jeweller Theo Fennell – championed by celebrities like Elton John and Naomi Campbell – plans to launch a range of lower-price products to target younger customers, the firm said yesterday. The new range of silver jewellery, to be priced between £70 and £2,000, is part of the company’s turnaround plan. Theo Fennell made a [...]
CAPELLO TAKES OVER THE REINS AT LIBERTY June 28, 2010 A FORMER investment banker will be the new head of Liberty department store. Marco Capello leads the private equity team that yesterday finalised its £32m deal for the historic Regent Street store. BlueGem Capital Partners, run by former Merrill Lynch bankers, said it would “continue to revive this utterly unique British brand”. Capello said: “Liberty [...]
FSA lists new retail adviser standards June 28, 2010 THE FINANCIAL Services Authority (FSA) has finalised a list of requirements retail investment advisers will need to meet before they can operate under the new Retail Distribution Review (RDR). Within the next three years, the FSA has proposed that investment advisers will have to hold a statement of professional standing, which confirms that the adviser [...]
SRG to raise £25m from IPO June 28, 2010 The owners of British coal miner Scottish Resources Group are seeking to bank more than £200m next month by selling stakes held for 16 years in an initial public (IPO) offer. The company is currently mostly owned by investment vehicles Parkburn and Palmaris Capital, who have held their stakes since 1994 when it was created [...]
UK tax rate on capital is the highest in EU June 28, 2010 THE UK has the highest tax on capital in Europe, at 45.9 per cent, according to new research by Eurostat. Our capital tax rates, measured at the height of the recession in 2008, were almost double the European average of 26.1 per cent. The lowest implicit tax rates on capital were recorded in Estonia (10.7 [...]
BEST OF THE BROKERS June 28, 2010 LADBROKES Numis said that there is plenty of opportunity for positive change at Ladbrokes and it believes the right jockey is in place to deliver it. Numis gives the bookie a “buy” rating and said that although the going will undoubtedly be tough, it is confident that the next six months will be characterised by [...]