Will you be rushing out to buy an ipad mini? October 23, 2012 BRENT MARTIN | BULLIVANT LAW There’s probably a place for it in the market, but I won’t be buying it. I’ve already got an iPad and it’s great for everything I use it for, all my law textbooks, and my phone is fine for reading on the Tube. It’s probably more of a Kindle competitor. [...]
Starbucks suffers more than Nike after reputational hits October 23, 2012 WE have recently seen two of the world’s biggest brands hit by potential PR crises. First up was Nike, which first continued to support and then ended their sponsorship of cyclist Lance Armstrong in the wake of doping revelations, followed shortly afterwards by ubiquitous coffee chain Starbucks, which was hit by allegations of (legally) avoiding [...]
Finance crimes to be offered plea bargains October 23, 2012 CORPORATE criminals could soon be offered US-style plea bargains, under a new scheme by the Ministry of Justice to encourage companies to admit wrongdoing and avoid fraud charges. Instead of facing an automatic prosecution, firms will be given the opportunity to publically own up to economic crimes, and given a strict set of conditions with [...]
Labour promises to force down the cost of gas and electricity October 23, 2012 THE LABOUR party will today publish its new energy market policy, which promises to force energy companies to pass on price cuts when wholesale costs fall. The opposition party says it will abolish Ofgem, the existing regulator, and create a new watchdog that will take a more active role in forcing down consumer prices for [...]
Costa energises first-half profit for Whitbread October 23, 2012 WHITBREAD yesterday warned that growth in the second half of the year would be more subdued after the Olympics and a wet summer helped drive up first-half profits by 11 per cent. The owner of Premier Inn and the Costa coffee chain said a strong performance across both brands had helped push revenues up by [...]
Were Whitbread’s results in line with expectations ? October 23, 2012 SHERIDAN ADMANS | SHARE CENTRE Investors moved in [yesterday] to take profits as Whitbread delivered double digit growth…Despite being on target to meet its growth plan and the attractiveness of its business model, we continue to recommend “hold” in these challenging times as we believe the potential is reflected in the price. WYN ELLIS | [...]
Premier Foods sees sales rise after shake-up October 23, 2012 PREMIER Foods, Britain’s biggest food producer and the owner of brands such as Hovis bread and Mr Kipling cakes, yesterday posted rising quarterly sales and said its restructuring programme was on track to help it meet its full-year expectations. The group, which has been selling non-core businesses to bring down £1.3bn of debt built up [...]
Nokia seeks €750m from bond issue to fund turnaround plans October 23, 2012 FINNISH mobile phone manufacturer Nokia yesterday said it would issue €750m (£609m) of convertible bonds, with the proceeds used to fund an ambitious turnaround plan. Nokia’s cash reserves have tumbled this year as the company – which was once the world’s biggest mobile phone manufacturer – continues to struggle in the face of tough competition from [...]
Advisers Nokia’s bond issue October 23, 2012 YACINE AMOR BANK OF AMERICA MERRILL LYNCH YACINE Amor led the team on Nokia’s bond issue at Bank of America Merill Lynch (BofAML), guiding Europe’s second largest convertible bond deal of this year. Amor has 14 years of investment banking experience and is currently head of equity-linked origination for the EMEA region. Prior to joining BofAML [...]
Record demand for smartphone chips lifts ARM October 23, 2012 ROCKETING interest in Apple products meant sales at chip designer ARM Holdings have increased by a fifth over the last year, sending shares in the Cambridge-based firm up more than 10 per cent yesterday. The company beat market expectations to see revenue hit £145m in the third quarter of the year, up from £120m in [...]