Intel boss reassures on PC sales September 22, 2009 Paul Otellini, chief executive of computer chip giant Intel, expects personal computer (PC) sales volume this year will at least match 2008’s, underscoring growing expectations that consumer spending is driving a mild recovery. Otellini, speaking at a product launch in San Francisco, said the PC industry remains “alive and well” in the middle of the [...]
Carnival lifts earnings forecasts September 22, 2009 Carnival, the world’s largest cruise operator, lifted its 2009 earnings forecast yesterday, citing stronger booking volumes, sending shares up as much as 8.4 per cent. Booking volumes for cruises slated for the remainder of 2009 and the first half of 2010 are running 19 per cent ahead of the prior year, spurred partly by heavy [...]
CITY MOVES WHO’S SWITCHING JOBS September 22, 2009 Securities and Investment InstituteThe SII has appointed John Nichols, a former ambassador to Switzerland, as its new director of global business development. Nichols, 57, has spent 30 years in the Foreign Office, holding senior positions in the UK, Brazil and Bangladesh and as ambassador to Switzerland, Hungary and Liechtenstein. He was also previously deputy chief [...]
Scandals do little damage to Renault and JJB September 22, 2009 BRAND INDEXSTEPHAN SHAKESPEARE WE’VE discussed before the stability of brands: British Airways is a great example of those that have suffered all sorts of media squalls and yet always return to their same high BrandIndex score. They are in the overwhelming majority: it’s one of the key reasons to invest heavily in brand-building, that it [...]
Odey:Enjoy the bubble in equity prices September 22, 2009 CRISPIN Odey, the veteran hedge fund manager who founded Odey Asset Management, has told his investors to enjoy the rapidly growing bubble in the stock market as it is being “sponsored” by the government. Odey has told clients to jump in and take advantage of the runaway markets, which are being underpinned by the Bank [...]
Miners gain the most in 2009 so far September 22, 2009 MINING stocks have seen the biggest recovery in value of all FTSE 100 constituents so far this year, according to Thomson Reuters Datastream figures. An increased demand from the construction sector and improved confidence in a global economic recovery have driven mining shares higher, meaning that seven companies from within the sector are in the [...]
Ofcom warns that regional news will cost ITV network 64m from 2012 September 22, 2009 OFCOM warned yesterday that regional news programming across ITV’s networks could be hemorrhaging up to £64m a year by 2012. The watchdog’s estimate means that new funding is needed to ensure the continued provision of regional news on Channel 3, because the costs of paying for the license would outweigh the benefit. The Channel 3 [...]
Savile sees profits surge September 22, 2009 HUMAN resources consultancy Savile Group said yesterday that it had seen a 157 per cent growth in full-year pre-tax profit, and that it would pay a dividend for the first time in five years. The company reported a profit of £1.85m, on revenues of £10.38m, for the year to 30 June. It said that its [...]
Rio helped by sale of Alcan September 22, 2009 MINING giant Rio Tinto said yesterday it had disposed of $7bn (£4.3bn) of assets over the past 18 months, as it strives to pay off its debt mountain. The news came a day after it sold its Alcan Composites arm, which makes specialist materials, to Swiss group Schweiter Technologies for $349m. Rio bought the Canadian [...]
Magna could cut 1,400 jobs at Vauxhall September 22, 2009 MAGNA is thought to have drawn up plans which could see it slash as many as 1,400 jobs at Vauxhall, wiping out around a third of the British car maker’s 4,450 workers. The jobs will be cut at both of Vauxhall’s plants in Luton and Ellesmere Port, while workers in Germany will be comparatively safe. [...]