Ikea sees record profit and grabs market share January 28, 2014 SWEDISH furniture giant Ikea said rising consumer spending in many of its key markets had helped it achieve record profits last year and increase its market share. The world’s largest furniture chain said profits rose by 3.1 per cent to €3.3bn (£2.7bn) in the year to 31 August 2013, driven by strong growth in China [...]
Carpetright blames Netherlands after warning on earnings again January 28, 2014 CARPETRIGHT issued its second profit warning in almost four months yesterday, blaming worsening conditions in the Netherlands for lower earnings. The flooring specialist, whose boss Darren Shapland quit after October’s profit warning, said it now expected underlying pre-tax profits to be between £7m to £8m – around 15 per cent lower than the previous year. [...]
Liberty Global and Vodafone eyeing up Ono January 28, 2014 LIBERTY Global is thought to be considering a bid to buy Spain’s largest cable operator, Ono, from its private equity owners – while Vodafone is thought to be at a very early stage of weighing up a bid, City A.M. understands. Investment funds Providence Equity Partners, Thomas H Lee Partners, CCMP Capital Advisors, and Quadrangle [...]
Price of mobile services halved in last ten years January 28, 2014 MONTHLY mobile phone bills have fallen by over 65 per cent over the past ten years to an average of £12.87 in 2012. In 2003 the average monthly spend was £39.65, but while mobile penetration has skyrocketed to over 90 per cent of households – with smartphones accounting for 69 per cent of mobiles – [...]
Vodafone gets go-ahead for its Verizon sale January 28, 2014 VODAFONE’S shareholders yesterday approved the telecom giant’s £51bn payout to investors as well as the sale of its £84bn stake in Verizon Wireless. At the general meeting 99.7 per cent of shareholders voted to approve both transactions which represents the return of 71 per cent of the proceeds of the Verizon Wireless sale to shareholders. [...]
Carl Icahn adds to his Apple pile after share price takes a tumble January 28, 2014 BILLIONAIRE activist investor Carl Icahn said yesterday that he has bought another $500m (£301.7m) worth of Apple stock, despite Apple’s results being considered disappointing by many investors. Icahn’s stake in the iPhone maker is now more than $4.1bn, following three separate investments in the stock, as he continues his campaign to increase Apple’s share buyback [...]
Smartphone shipments reach 1bn as Samsung keeps crown January 28, 2014 SMARTPHONE shipments topped 1bn units worldwide for first time in 2013, climbing 38.4 per cent from the previous year, research firm IDC said yesterday. Smartphones made up 55.1 per cent of all mobile phone shipments last year from just over two-fifths in 2012, IDC said. “The sheer volume and strong growth attest to the smartphone’s [...]
Insurers count the cost of recent floods as bill tops £400 million January 28, 2014 THE INSURANCE industry looks set to pay out millions of pounds worth of claims after the country was hit by bad weather and flooding over the Christmas period. Figures released by the Association of British Insurers (ABI) put the estimated insured cost of the damage at £426m. The figure is the result of 174,000 claims between [...]
Hannam adds to his top team at Strand January 28, 2014 IAN Hannam, the former JP Morgan banker, has recruited another senior executive to join his thriving independent advisory bank, Strand Partners. Hannam confirmed last night that Giles Fitzpatrick, the former chief executive of Fox-Pitt Kelton, will be joining his team, which includes chief executive Neil Passmore and Tim Hoare. Strand has been advising on a [...]
Debut Novel wins Book of the Year January 28, 2014 Debut author Nathan Filer saw off competition from established writers including Kate Atkinson to win the 2013 Costa Book of the Year yesterday. Filer took home the £30,000 award for The Shock of the Fall, which was snapped up by publisher HarperCollins for a six-figure sum.