Maritime GPS developer sees revenue up as Gulf fishermen use technology June 6, 2010 MARITIME technology provider Software Radio Technology (SRT) is expected to announce a 41 per cent hike in revenue today. SRT is expected to see revenues climb by £1m to £3.5m , while the group is thought to have seen losses reduced by 81 per cent for the year. “This acceleration in growth has been caused [...]
Arsenal shareholder buys a bigger stake in the club June 6, 2010 ARSENAL major shareholder Alisher Usmanov has increased his stake in the north London football club, boosting his 26 per cent stake. The Usbek-born mining billionaire, who is the second-largest shareholder in the club, is believed to have spent about £300,000 on shares last week, bringing him closer to owning 27 per cent. The move comes [...]
Spain’s BBVA in talks to buy UK Yorkshire and Clydesdale banks June 6, 2010 SPAIN’S BBVA has been in talks in recent weeks to possibly buy the Yorkshire and Clydesdale banks in Britain from owner National Australia Bank (NAB), according to weekend reports. The potential sale, which could value the British business at £2bn, comes after NAB pulled out of the auction to buy 318 Royal Bank of Scotland [...]
IPC to sell hobby titles June 6, 2010 IPC Media is in the process of selling 28 hobby titles including Cage & Aviary Birds and The Railway Magazine. The company, which publishes titles such as Country Life and Marie Claire, has set this Friday as the deadline for bids. The company announced in March that the magazines’ future was being reviewed. IPC wants [...]
Dragonfish boss leaving June 6, 2010 Gabi Campos, the managing director of Dragonfish, the business to business division of online gaming group 888 Holdings, has left the company to pursue other interests. Gigi Levy, the group chief executive, will head the division until a replacement is found.
National Stud generates profit June 6, 2010 The National Stud has made a profit in its first full year since being taken over the Jockey Club. The National Stud, formerly state-owned, is expected to reveal sales of £93m and operating profit of £16.6m for 2009, when it publishes its annual review this week. The organisation also owns and runs 14 racecourses, including [...]
POLO IN THE PARK GETS CITY’S VOTE FOR BEST CORPORATE DAY OUT June 6, 2010 IT WAS off to Hurlingham Park in sunny south-west London at the weekend for an action-packed few days at the second annual Polo in the Park tournament. With the event extended this year from two days to three due to popular demand – and Friday earmarked as the official corporate hospitality day for the City [...]
BSkyB in £160m deal for Virgin Media channels June 4, 2010 BSkyB has agreed to buy Virgin Media’s basic channels as the two former fierce rivals develop strategies to compete with the soon-to-arrive free Internet-connected TV services. The satellite group BSkyB will pay up to £160m cash to expand its portfolio of basic pay TV channels, which will include Living, Bravo and Virgin1. It will also [...]
HSBC to offload private equity arms June 4, 2010 HSBC is in talks that could lead to five separate management buyouts of its private equity fund management businesses, as banks go back to focusing on core operations. Europe’s biggest bank said talks are underway over units in Hong Kong, Britain, the United States, Canada and the Middle East. HSBC’s regional private equity businesses focus [...]
UK car sales rise again June 4, 2010 NEW car registrations in Britain rose an annual 13.5 percent in May to 153,095 vehicles, according to official industry figures. The Society of Motor Manufacturers and Traders (SMMT) said it was the 11th straight monthly rise. However, it warned that there were still tough times ahead. “May was another good month for the UK new [...]