Shareholdersshow disdain for Dell chief August 18, 2010 DELL founder Michael Dell survived an investor savaging during his re-election to chief executive, with more than a quarter of voters withholding their support. Shareholders are furious at the firm’s fall from being the biggest computer manufacturer in the world to its current third place behind Hewlett-Packard (HP) and Acer. Dell’s stock is down more [...]
Kiss collapse causes panic August 18, 2010 THE demise of the travel company Kiss Flights has put thousands of holidaymakers’ plans in jeopardy. The announcement yesterday that the company had stopped trading came as 13,000 customers were still abroad and a further 60,000 have already paid for trips. The news that Kiss had followed in the footsteps of Goldtrail and Sun 4 [...]
Rental income boosts Assura August 18, 2010 ASSURA Group’s first-quarter revenue rose 17 per cent, helped by higher-than-expected increases in rental income, and the British healthcare firm said trading momentum had continued into the second quarter. The UK’s biggest private owner of pharmacy services said quarterly revenue was ahead of budget in both wholly owned and joint venture pharmacies. Assura said 13 [...]
India working with RIM over ban August 18, 2010 India will allow BlackBerry’s messenger service to continue beyond a 31 August deadline, but could shut down its secure email service if access is not given to its encrypted data by then. A team from the phone’s manufacturer began discussions with India’s telecoms ministry and intelligence agencies, seeking to address the security worries.
Asian firms probe Apple claims August 18, 2010 Two Asian firms whose wholly-owned units were accused of paying kickbacks for business from Apple said they were investigating the matter, while a third denied engaging in such practices. Paul Devine, an Apple global supply manager, pleaded not guilty to California court charges that he accepted kickbacks.
Coalition under pressure over cuts to middle class benefits August 18, 2010 LABOUR?started piling the pressure on the coalition yesterday, after the government admitted it was reviewing “middle class” benefits like child benefit and the winter fuel allowance. A spokesperson for the Department for Work and Pensions (DWP) said the benefits – which are available to everyone regardless of wealth – were “under review”. The government is [...]
German debt is in demand August 18, 2010 GERMANY’S cost of borrowing sank to a record low at a sale of €5bn (£4.1bn) in 10-year bonds yesterday, while Portugal eased concerns over its finances by selling more short-term debt than previously planned. Mirroring results of Irish and Spanish sales on Tuesday, the auctions showed there is solid demand for Eurozone bonds as the [...]
Poundland set for expansion as bargain hunters give it a boost August 18, 2010 DISCOUNT retailer Poundland has seen an 80 per cent surge in operating profit to £21.5m in the year to the end of March. Poundland, which was recently acquired by private equity firm Warburg Pincus, said it aims to open a further 50 new stores over the next two years, creating 2,000 jobs. Like-for-like sales were [...]
CITY VIEWS: DO YOU THINK THE COALITION HAS HAD A GOOD FIRST 100 DAYS? August 18, 2010 LEE WHITE | NOVAE INSURANCE “It seems to me that the coalition is being led by Cameron rather than Clegg. Though the government’s portrayal of the coalition is one of balance, I don’t think this is the case. I would rather see a fairer, more true coalition.” MARK GAME | BRIGHTSIDE GROUP “I didn’t think [...]
Stagecoach is on track as rail improves August 18, 2010 STAGECOACH yesterday reported a rise in sales at its British and US transport businesses, with its rail operations performing strongly. Stagecoach, operator of the South West Trains franchise in Britain and which last year failed in an attempt to buy rival National Express, said in a statement it had significant undrawn bank facilities. The company’s [...]