American Express pays $300m for online firm November 18, 2009 American Express has agreed to acquire Internet-based payment platform Revolution Money for $300m (£179m), the credit card company said yesterday. Revolution Money, launched by AOL co-founder Steve Case’s Revolution in 2007, provides payments through an internet platform and prepaid cards that can be used for offline payments or to withdraw cash from ATMs in the [...]
C&W pension fund could need 100m November 18, 2009 CABLE & Wireless may be forced to agree an additional £100m payment into its pension fund before it can go ahead with the planned de-merger of its business units. The firm said on Tuesday it had revived plans to split its Worldwide unit, which supplies companies in Europe, Asia and the US, from its international [...]
BEST OF THE BROKERS November 18, 2009 INMARSATInvestec downgraded Inmarsat to “hold,” saying the company’s launch of its global satellite phone services (GSPS) and in-flight mobile services have presented significant long-term growth opportunities. This combined with the potent mix of Inmarsat’s high operational leverage and underlying fundamentals have driven the broker to upgrade its assessment, with the target price rising from 650p [...]
Vale close to uranium success November 18, 2009 AIM-LISTED Vane Minerals said yesterday that recent drill testing at the Wate breccia pipe in northern Arizona had yielded significant high-grade uranium deposits. The project is within the Vane-Uranium One Exploration USA joint venture in which the company’s wholly-owned subsidiary, Vane Minerals (US), holds a 50 per cent interest. Matthew Idiens, director of corporate development [...]
Capital Pub Company says it sees signs of early recovery at its London outlets November 18, 2009 CAPITAL Pub Company yesterday reported a 20 per cent increase in profits yesterday in the half year to the end of September, raising hopes it would restart its dividend. Capital Pub, which operates 27 pubs throughout London, also saw a nine per cent increase in sales to £11.1m from £10.1m in 2008. Its adjusted pre-tax [...]
Airbus racks up $5.3bn of orders at Dubai airshow November 18, 2009 AIRBUS forecast a “difficult winter”,despite yesterday announcing a $670m (£400m) jet deal with Senegal Airlines, taking total orders unveiled at this week’s Dubai airshow to $5.3bn. Airbus’ chief operating officer for customers, John Leahy, said: “We had a good airshow, better than many expected. But our industry is not out of the woods yet. There [...]
BOVIS BANKS ON RECOVERY November 18, 2009 BOVIS chief executive David Ritchie had good news for hard-hit homeowners yesterday. The company, which has seen sales of private homes rise 83 per cent in 2009, said the property recovery showed no sign of ending. Prices have pushed to a point where Bovis is likely to revise the value of its land bank upwards [...]
House prices set for a rise November 18, 2009 SIGNS of a tentative economic recovery have given a boost to consumers’ confidence in the housing market, a survey from property website Rightmove has shown. Rightmove said yesterday that 56 per cent of consumers now expect average house prices to be higher in 12 months time, marking a sharp upturn in confidence since January, when [...]
CITY VIEWS: DO YOU THINK HOUSE PRICES ARE SET TO RISE OR FALL? November 18, 2009 STEPHEN FERRARI FERRARI BUSINESS DEVELOPMENT“I think the housing prices will increase because there is a short supply of nice houses on the market. Although I don’t think it’s going to be easy to borrow money, until the supply meets the demand for houses, I think we’ll see a rise in prices. There may be apparent [...]
Land Securities gives bullish outlook on property market November 18, 2009 LAND Securities yesterday said it was certain there was a boost in confidence in the market and added there are now more buyers than sellers entering the market. The property firm yesterday reported it had narrowed its pre-tax losses from £1.6bn a year ago to £4.6m in the six months to 30September. The group posted [...]