Deloitte raises hopes for a Games boost August 2, 2012 IT seems there could be a pot of gold at the end of the Olympic rainbow. According to analysts at business advisory firm Deloitte, there is an unexpected post-Games trend that could bode well for the UK economy. Deloitte’s number crunchers reckon that a host’s stock market after the Olympic Games consistently outperforms the average [...]
Just Mini-mum effort required to clear fields August 2, 2012 IF YOU liked the slice of quintessential Britishness that was Danny Boyle’s opening ceremony, the Capitalist suspects you’ll take to London 2012’s latest trick. To save time fetching javelins, discuses, hammers and shots when the track and field contest get underway today staff will use a fleet of remote-controlled mini Minis. The electric vehicles are [...]
The other Jamaican stand-off August 2, 2012 THE world’s eyes will be focused on sprinters Usain Bolt and Yohan Blake on Sunday as they will likely face off in the 100m final, but in their home country, Jamaica’s rival telecoms firms will be watching more keenly than most. Digicel, owned by Irish tycoon Denis O’Brien, and Cable & Wireless Communications subsid Lime [...]
Sky dominance not a problem says watchdog August 2, 2012 SKY’S exclusive movie rights do not create a monopoly in the pay-TV market, the government’s media watchdog ruled yesterday, in a major victory for the broadcaster. Despite Sky enjoying special deals with major Hollywood studios, the arrival of online streaming services Netflix and Lovefilm into the market has loosened Sky’s grip, the competition commission declared. [...]
Ladbrokes profits leap as online woes are offset by high street August 2, 2012 BETTING machines in Ladbrokes’ high street outlets helped the bookie to improve profits in the first half of the year despite its online revenues plummeting. Ladbrokes said pre-tax profit rose 49 per cent on the same period last year to £106.9m, with revenue up eight per cent to £529m. This was almost entirely driven by [...]
Cuts pay off for Trinity Mirror as shares leap after difficult year August 2, 2012 NEWSPAPER publisher Trinity Mirror saw shares rise 20 per cent yesterday as the company posted better than expected profits thanks to a cost-cutting operation, although it did warn of drops in advertising revenue at its national papers. Advertising sales fell 10.5 per cent in the first half of the year and circulation revenue fell slightly [...]
Sony forced to trim forecasts as demand for its devices plunges August 2, 2012 SONY yesterday slashed its forecast for 2012/13 operating profit and lowered its sales expectations for key products including its handheld PSP and PS Vita devices as new boss Kazuo Hirai battles to revive the fortunes of the electronics giant. Sony reported yesterday that operating profit for April to June fell a much steeper-than-expected 77 per [...]
WPP’s latest acquisition makes digital agency chief his fortune August 2, 2012 ADVERTISING giant WPP has bought a majority stake in British online marketing firm Fortune Cookie, the latest acquisition for Sir Martin Sorrell’s firm as it aims to expand its digital reach. The deal, estimated at up to £30m, will net Fortune Cookie’s founder and chief executive Justin Cooke a hefty sum as he becomes head [...]
Time Out goes free in London as buyers fall August 2, 2012 TIME OUT has become the latest title to reinvent itself as a free publication, with its London edition set to launch across transport networks in the capital in the coming weeks. The weekly magazine has seen fewer casual buyers in recent years, and says the move is part of a new strategy following increased traffic [...]
Sharp to slash 5,000 jobs for first time since end of World War II August 2, 2012 SHARP yesterday announced a 94bn yen operating loss for the June quarter and revealed plans for its first job cuts in more than 60 years as Japan’s electronics industry scrambles to keep up with foreign competitors. Sharp said it would cut 5,000 jobs – around 10 per cent of its workforce – as it attempts [...]