CITY VIEWS: DO THE RECEPTION PROBLEMS WITH THE NEW IPHONE PUT YOU OFF? July 19, 2010 DUNCAN GOULD | LLOYD’S REGISTER “It’s fine as they have admitted their mistake. These things happen. I don’t have an iPhone myself, but my wife has one and I find it’s a very good phone. I’m not surprised that they have made a big deal out of correcting the problem, as they are very publicity [...]
Eurotunnel in red in spite of surge in sales July 19, 2010 Cross channel rail operator Groupe Eurotunnel says it will not post a profit this year unless it receives further insurance payouts for a tunnel blaze in 2008. The embattled firm made a first-half loss of €45m (£38m) despite sales rising 22 per cent to €331m. It booked €33m in insurance indemnities last year but said [...]
NS&I axes saving certificates July 19, 2010 NATIONAL Savings and Investments (NS&I) delivered a blow to consumers’ purses yesterday as it axed its two inflation-beating savings products, citing particularly strong levels of demand. NS&I said demand for the fixed interest and index-linked savings certificates had far outstripped its expectations and that its decision to pull the products was designed to prevent it [...]
Hasbro falls short of last summer’s strong sales July 19, 2010 TOY maker Hasbro said yesterday it had suffered a sharper-than-expected quarterly sales decline, after failing to repeat the success of last year’s tie-ins to Hollywood blockbusters like GI Joe. But the firm, which owns brands from Monopoly to Playskool, beat analysts’ earnings expectations for the second quarter by cutting costs, including advertising. Net income rose [...]
City office rents left behind as West End soars July 19, 2010 OFFICE rents in the West End have increased for the first time in three years, far outgunning steady rises in City charges, research out yesterday claimed. West End rents rose 13 per cent to £85 per square foot in the last three months, in what property advisers Jones Lang LaSalle (JLL) described as a “real [...]
CITY MOVES | WHO’S SWITCHING JOBS July 19, 2010 Matrix Group The financial services group has promoted Malcolm Le May, the chief executive of its investment banking business, to the group board. Le May took up his current role in December last year, steering the investment bank through a rapid period of expansion working with small and mid cap companies. He previously worked at [...]
Farnborough show sees bumper start July 19, 2010 ALMOST $20bn (£13.1bn) in deals were signed yesterday at the Farnborough Air Show, marking a successful first day for the annual aviation gathering. Boeing, which kick-started the show with the arrival of its 787 Dreamliner jet on Sunday, signed a bumper round of deals after Emirates airline agreed to buy up to 30 new 777-300ER [...]
Fast-growing SMEs are vital for UK’s future July 19, 2010 TO a fascinating lunch on Friday at Lombard Odier with Paul Marson, its chief investment officer. He believes that sovereign debt levels will force European welfare states to downsize. Is this a good thing? Martin Varsawsky, founder of FON, one of Europe’s largest Wifi communities, and a serial entrepreneur, is proud of the fact that [...]
GCP sees sucessful IPO on new fund July 19, 2010 GCP Infrastructure Investments raised £40m through its initial public offering (IPO) yesterday. Parent company Gravis Capital Partners said it plans to float the fund on the London Stock Exchange on Thursday, the first infrastructure fund to be listed in the UK. The fund will invest in the debt of private finance initiative projects, such as [...]
Edenred posts 3.8pc revenue rise July 19, 2010 Edenred, the vouchers firm recently split from Accor, yesterday posted a 3.8 per cent rise in revenue on strong sales in Latin America, and said high unemployment would continue to weigh on its European business. Chief executive Jacques Stern said yesterday that the second half of the year would show “a similar trend” in Europe [...]