Finmeccanica names new head February 13, 2013 Italy’s Finmeccanica promoted company insider Alessandro Pansa to run the defence group as chief executive officer after the arrest of its head for alleged bribery led India to suspend a $750m (£483m) deal to buy helicopters. Finmeccanica said Pansa, the chief operating officer, would step up to ensure management continuity following the arrest on Tuesday [...]
Thomson Reuters beats forecasts February 13, 2013 Thomson Reuters posted a better-than-expected rise in quarterly profit yesterday and forecast that revenue would increase in the low single digits this year. The outlook was largely anticipated by analysts, who had forecast a two per cent rise. Adjusted earnings increased to $497m (£320m), or 60 cents a share, from $445m, or 54 cents a [...]
Telecity pleases market with robust outlook February 13, 2013 DATA centre operator Telecity yesterday posted a 22 per cent rise in full-year earnings, meeting analyst expectations, and gave a confident outlook for 2013 underlined by robust demand. The British company bases its facilities in European cities like London, Amsterdam and Paris, where multiple Internet connections provide near failsafe services to retailers, banks, social media [...]
Regulator warns Global-GMG radio deal may hit competition February 13, 2013 GLOBAL Radio’s £70m deal to buy GMG Radio was yesterday cleared by the Competition Commission, but the regulator warned that the takeover could drive up advertising prices across the UK. In London – where Global Radio runs Heart, LBC, Choice, Gold, Capital and Xfm – the commission cleared the deal, which would see Global take [...]
Tui Travel helps put parent firm on an even keel February 13, 2013 TUI Travel’s growing holiday sales have helped parent firm Tui AG beat quarterly forecasts and pare losses. The German firm, which holds 56 per cent of FTSE 100-listed Tui Travel, said yesterday its turnover rose 1.4 per cent on last year to €3.5bn (£3bn), or flat excluding currency changes, in the first financial quarter. It [...]
BT executive Liv Garfield joins Tesco board February 13, 2013 OLIVIA Garfield, chief executive of BT’s Openreach, is to join the board of Tesco as a non-executive director, the supermarket giant announced yesterday. Garfield has been with BT since 2002 and head of its superfast broadband division since 2011. Tesco said she will bring “valuable experience of new and emerging technologies” when she joins the [...]
US corporate results round up February 13, 2013 Deere results beat forecasts on strong farm demands DEERE & Co, the world’s largest farm equipment maker, reported first-quarter results above analysts’ expectations yesterday as farmers geared up to plant the biggest corn crop in US history following the worst drought in the US Midwest in 56 years. The company also raised its forecast for [...]
Ros Altmann steps down as head of Saga February 13, 2013 SAGA boss Ros Altmann yesterday announced she was stepping down as director-general of the over-50s lobby, after two and a half years in the role. The tireless advocate for pensioners, and fierce critic of quantitative easing (QE) said she had enjoyed her role, but wanted to spend more time in London – Saga is based in [...]
Hogg Robinson revenues drop as business travellers spend less February 13, 2013 BUSINESS travel management company Hogg Robinson said yesterday the group had continued to trade in line with expectations since October last year, as revenues for the four months to the end of January fell by seven per cent. The firm, which plans trips for corporate clients, has been hit by businesses cutting back on travel [...]
Harvey Nash lifts dividend as profits grow February 13, 2013 GLOBAL specialist recruiter Harvey Nash said yesterday it plans to increase its final dividend by 10 per cent after it posted a slight increase in full-year profits, adding that its full-year results would be ahead of expectations. Pre-tax profit at the firm, which specialises in technology and IT service roles, is expected to rise to [...]