US M&A share sinks to lowest on record April 17, 2012 AMERICA’S share of the global M&A market has hit a record low, according to research by data provider Dealogic. Deals targeted at the US market made up just 30 per cent of global M&A volume thus far in 2012, a record low year-to-date share, down from 34 per cent at the same point in 2011. [...]
IMF upgrades its forecast for growth in UK April 17, 2012 THE IMF upgraded the UK’s GDP growth forecast yesterday, arguing that the strong deficit reduction plan was boosting confidence in the country, as it said the global outlook was also improving. UK growth should now come in at 0.8 per cent this year, the International Monetary Fund said, a 0.2 percentage point rise on January’s [...]
Obama pledges oil trade crack-down April 17, 2012 US President Barack Obama, whose political fortunes are threatened by rising gasoline prices, proposed new measures yesterday to reduce oil market manipulation that are unlikely to get support from a divided Congress. Obama called on lawmakers to raise civil and criminal penalties on individuals and companies involved in manipulative practices. He also pressed for more [...]
Regional slump leads to DMGT profit warning April 17, 2012 SHARES of Daily Mail and General Trust sank by seven per cent yesterday morning as the publishing group warned that half year profits are expected to fall as revenues from its regional newspapers continue to wane. Northcliffe Media, DMGT’s regional newspaper publishing division, saw revenues decline by 10 per cent in the period as advertising [...]
Yahoo, IBM and Intel beat Street April 17, 2012 YAHOO last night reported a modest uptick in first-quarter revenue, its first growth in three years, while Intel and IBM also beat forecasts. Yahoo also said its net income was $286m in the first quarter, up 28 per cent on a year ago, in new chief Scott Thompson’s maiden results. While IBM’s sales missed Wall [...]
Coca-Cola sales are on the rise April 17, 2012 COCA-COLA posted higher-than-expected quarterly results yesterday after the world’s largest soft drink maker sold more beverages, even in developed markets with economic worries, fuelling hopes conditions are improving. Coca-Cola’s first-quarter net profit was $2.05bn, up from $1.9bn a year earlier. Revenue rose six percent to $11.14bn, helped by a five per cent increase in overall [...]
J&J keeps a lid on its expenses April 17, 2012 QUARTERLY earnings rose at US healthcare firm Johnson & Johnson, but declining sales remain a challenge for the firm. Net earnings rose to $3.91bn, up 12.5 per cent on a year earlier. Revenue slipped 0.2 per cent to $16.14bn, which J&J blamed on the strength of the US dollar. Analysts were impressed by the speed [...]
BBC paid £150k on private eyes April 17, 2012 THE BBC spent £150,000 on private investigators in the decade to mid-2011, its director of editorial policy and standards David Jordan said yesterday. Speaking at the Home Affairs Select Committee’s inquiry into the case for statutory regulation of private investigators – launched in the wake of the phone-hacking scandal – Jordan admitted that the BBC [...]
Switch-off for analogue TV April 17, 2012 LONDON’S analogue television signal was turned off in the early hours of this morning in the latest step of the UK’s digital switchover. BBC director general Mark Thompson and Arqiva chief executive John Cresswell last night drew a line under 75 years of analogue TV broadcasts to the capital as part of the nation’s upgrade [...]
Vodafone plans war with India over new taxes April 17, 2012 VODAFONE yesterday threatened the Indian government with international arbitration, warning that it will not go down without a fight over the country’s proposed retrospective tax. The telecoms giant served the Indian government with a Notice of Dispute via Vodafone’s Dutch subsidiary, which has a bilateral investment treaty with India. Vodafone said that India’s retrospective tax [...]