Orange unveils first Intel-chip smartphone May 31, 2012 INTEL will next week enter the smartphone market with the launch of the San Diego, available exclusively on Orange from 6 June. The Android smartphone is the first to feature an Intel chip as the computer processing giant attempts to invade ARM’s territory. The handset, available for £200 on pay as you go, boasts high-definition video [...]
Chime sells off Bell Pottinger business May 31, 2012 CHIME Communications yesterday announced a management buyout of its Bell Pottinger businesses for £19.6m in cash and shares. Chairman Lord Bell and deputy chairman Piers Pottinger will pay £14.9m in cash and step down from Chime to run the new company, BPP Communications. Chime will hold a 25 per cent stake in BPP and a seat on [...]
WANdisco set for £15m float May 31, 2012 SHEFFIELD firm WANdisco will begin trading on the AIM market this morning, in a float that will raise around £15m. The firm provides collaboration tools to the software industry and is the first IPO in London of a Yorkshire-based firm since 2010 City A.M. understands that the placing was more than three times oversubscribed. Panmure Gordon’s [...]
LONDON 2012 IMAGE OF THE WEEK May 31, 2012 SIR Chris Bonington, the Everest mountaineer, this week carried the Olympic Torch to the summit of Mount Snowdon. Visibly emotional, he started his climbing career on the mountain in 1951. The Torch is on day 14 of its 70-day trip across the UK, and today is travelling from Bolton to Liverpool. It will be carried [...]
GSK in plan to axe all Human Genome board May 31, 2012 GLAXOSMITHKLINE (GSK) plans to launch a campaign to replace the entire board of Human Genome Sciences with its own nominees, stepping up its £1.67bn hostile bid for the US biotech company, sources said yesterday. The British company has started reaching out to executives in the pharmaceutical industry as well as finance and governance experts who [...]
Kingfisher crashes to its worst quarterly loss as fuel costs rise May 31, 2012 INDIA’S Kingfisher Airlines posted its worst-ever quarterly loss yesterday, as huge cuts in the number of flights, a rise in fuel costs and competition took their toll. It is now the smallest carrier in India by market share and shares in the airline have plummeted more than 80 per cent since the beginning of 2011. [...]
BAE plans 600 job cuts across the UK as weaker demand bites May 31, 2012 DEFENCE contractor BAE Systems is planning to axe 620 jobs and shut down its Newcastle factory, it said yesterday. BAE is locked in talks with unions over the Newcastle closure, which would account for half the jobs to be culled. The company said weak demand for the Terrier armoured vehicle, which is made there, was [...]
Halma buys SunTech in deal to extend medical device range May 31, 2012 HEALTH technology group Halma yesterday announced a $50m (£32m) deal to buy medical devices firm SunTech. The company’s main product is a blood pressure testing device. SunTech, based in North Carolina, reported revenue in the year to 31 December was $23m with operating profit $5.4m. Halma shares rose two per cent in London after yesterday’s [...]
TNK-BP co-owner invites in bidders for the business May 31, 2012 TNK-BP, British oil major BP’s Russian joint venture that is embroiled in a shareholder dispute, may get a third investor, co-owner and former chief executive Mikhail Fridman. Fridman, one of the four Soviet-born tycoons who share control of the 50-50 venture via the AAR consortium, quit as chief executive on Monday, deepening a leadership crisis [...]
Rockhopper narrows its losses to $53m May 31, 2012 FALKLANDS oil explorer Rockhopper yesterday said it had reduced its annual pre-tax losses by $33m. (£21.4m). The drop in the year to 31 March to $53m came as exploration expenses went down. Meanwhile the company said it was making progress on its Sea Lion field. Chairman Pierre Jumgels said: “Recent 3D seismic and further interpretation [...]