Wolfson says profit hit by iPhone loss October 5, 2009 SHARES in Wolfson Microelectronics fell yesterday after the chipmaker issued a profit warning, blaming its failure to get the contract for the new iPhone for a slump in orders. Wolfson, which makes components for Samsung and Apple products, said that orders for the fourth quarter of 2009 would be worse that expected, and that backlogs [...]
CAN WOLFSON RECOVER FROM THE LOSS OF THE iPHONE? October 5, 2009 ED WOOLFITT GALVAN RESEARCH“Although Wolfson Microelectronics is confident of ramping up revenues in 2010, today’s announcement serves as a revenue and profits warning for the current year. The outperformance by the shares since the interim results makes the current share price look a long way ahead of events.” ANTHONY MILLER TECHMARKETVIEW“It just goes to show [...]
CITY MOVES WHO’S SWITCHING JOBS October 5, 2009 KPMGThe accountancy firm has appointed Rachel Campbell as global head of people, performance and culture and a member of its global executive team. Campbell is currently head of people for the firm’s European business and has led its award-winning “Employer of Choice” strategy in the UK. Prior to that, she was an audit partner specialising [...]
Balfour wins 134m contract October 5, 2009 Engineering firm Balfour Beatty yesterday said it has won two contracts in the education sector worth a total of £134m. Britain’s biggest infrastructure contractor, which builds roads, railways and schools, has won a £77m contract to build new student accommodation at the University of Exeter, in the south west of Britain. And the company has [...]
G30 calls for reform of IMF October 5, 2009 The G30, a group of prominent bankers, policymakers and economists, called for sweeping reforms to the International Monetary Fund (IMF), warning that the impetus for change would wane as pain from the financial crisis fades. In a report released on the sidelines of the semi-annual IMF and World Bank meetings, the G30 said nations should [...]
Mandelson asks for Magna talks October 5, 2009 Business secretary Peter Mandelson said yesterday he was prepared to discuss support for Vauxhall with parent Opel’s new owners, Magna, noting that representatives from the Canadian auto parts supplier were due in Britain this week. “I hope Magna’s co-chief executive Siegfried Wolf will have good discussions with union leaders,” Mandelson said on a trip to [...]
The private equity boss who says credit is about to flow once again October 5, 2009 THE economic downturn has meant that private equity business Duke Street, like the rest of the industry, has spent the last 12 months treading water – and its managing partner Peter Taylor is keen the firm gets on with things over the coming year. Cutting deals is meat and drink to London’s private equity industry. [...]
TORIES TO WAGE WAR ON WORKSHY October 4, 2009 CONSERVATIVE leader David Cameron yesterday promised to shake up Britain’s complex welfare system and to slash the numbers of long-term unemployed. Speaking on the eve of the four-day Tory party conference in Manchester, Cameron promised to use tax reform and deregulation to help employers take on new staff. He said private training firms would be [...]
TNinety-eight US banks have failed this year October 4, 2009 THREE more US banks have collapsed, pushing the total number of banking failures in the country so far this year to 98. An average of ten US banks have failed in every month of this year – the highest tally since 1992, when 181 banks went under. And the figure is nearly four times as [...]
StanChart ends talks with RBS October 4, 2009 AN ATTEMPT by Asia-focused bank Standard Chartered to snap up assets from stricken Royal Bank of Scotland (RBS) has failed, City A.M. can confirm. Talks between the banks over the sale of around $200m (£126m) of RBS assets in China, India and Malaysia have collapsed after the pair failed to agree on a price. RBS [...]