GRAINGE IS?NO.1?AT?UNIVERSAL MUSIC February 10, 2010 LUCIAN Grainge, who has helped nurture artists such as Duffy, Amy Winehouse, U2 and Elton John, is to become the chief executive of Vivendi’s Universal Music Group. Grainge, who has been chairman and chief executive of Universal’s International division, which operates in more than 50 countries, will take over the New York-based top job at [...]
BHP Billiton is set to go on a buying spree February 10, 2010 GLOBAL mining heavyweight BHP Billiton today announced plans to ramp up its spending despite its interim profits falling victim to the commodity downturn in 2009. The FTSE 100 group posted a seven per cent drop in profit to $5.7bn (£3.7bn) in the final six months of 2009 as “significant volatility and continued uncertainty in the [...]
Savile quits Air Partner role February 10, 2010 DAVID Savile, the chief executive of aviation services provider Air Partner, yesterday denied rumours that he will replace Andy Harrison as Easyjet’s chief executive when the latter steps down in June. Air Partner announced yesterday that Savile will leave at the end of March. Mike Stoddart, an analyst at Daniel Stewart, said yesterday that he [...]
ArcelorMittal is back in profit after a dire year for the world’s steel markets February 10, 2010 ARCELORMITTAL recorded a $1.07 bn (£684 m) profit in the fourth quarter of 2009 on the back of improved steel demand. The results are a significant turnaround from the same period last year when the steelmaker reported a $2.6bn loss. But the company’s profit for the year was $118m, a large drop from the $9.4bn [...]
Google to trial high speed network in United States February 10, 2010 GOOGLE said yesterday it would build a super high-speed broadband network for up to half a million people around the United States in order to experiment with the possibilities of a network running at 100 times current speeds. The company has long argued that it can sell more Web ads – the way it makes [...]
Chi-X moves up European equities market rankings February 10, 2010 CHI-X Europe became the third-largest European equities market by value traded in January, leading exchanges such as Deutsche Boerse for the first time. Trading levels for European equities on the electronic order book of the London-based platform, known as a multilateral trading facility, were valued at €109bn (£96bn) during January, according to figures released yesterday [...]
Rio workers indicted by the Chinese February 10, 2010 CHINA has indicted four employees of Anglo-Australian mining giant Rio Tinto on charges of bribery and stealing business secrets, setting the stage for a trial in the case that has jangled investor nerves. The four who are set to stand trial in Shanghai include Australian citizen Stern Hu, state news agency Xinhua said yesterday. If [...]
ANALYST VIEWS: IS BHP’S DECISION TO INCREASE CAPITAL SPENDING A SURPRISE? February 10, 2010 IVOR PETHER | ROYAL LONDON ASSET MANAGEMENT Xstrata emphasised its capital spending projects yesterday so BHP are just continuing the theme. However its joint venture with Rio has been delayed. Overall it is a good set of results although the debt level is higher than expected. The main base metals and petroleums divisions improved substantially. [...]
Daily Mail is confident of media revival February 10, 2010 NEWSPAPER group Daily Mail and General Trust (DMGT) today hinted that the media sector may be finding its feet after a very tough 2009 although it still remains cautious in its outlook. The FTSE 250 group saw revenue fall eight per cent on an underlying basis to £482m in the three months to December as [...]
Shareholders vote against £2.98m pay of ex Grainger boss Rupert Dickinson February 10, 2010 SHAREHOLDERS at the annual general meeting of property giant Grainger yesterday voted against a multi-million pound payout to former chief executive Rupert Dickinson. Some 55 per cent of voters at the Newcastle meeting vetoed the resolution for Dickinson to receive £2.98m – about six times his salary. Dickinson stepped down in October due to ill [...]