Google and Oracle kick off lawsuit over smartphones April 16, 2012 A HIGH-STAKES court case over smartphone technology between Oracle and Google kicked off yesterday, starting a trial that could reveal financial details about the Android operating system. Oracle sued Google in August 2010 over seven patents and copyright claims for the Java programming language. According to Oracle, Google’s Android operating system tramples on its intellectual [...]
BTG Pactual’s boss is hit by fine in Italy April 16, 2012 ANDRE Esteves, the billionaire boss of Brazil’s BTG Pactual, has been fined €350,000 by Italy’s financial regulator for insider trading, just 10 days before his investment bank’s looming stock market listing. BTG Pactual said yesterday its activities would be unaffected by the ruling against Esteves, who owns 24 per cent of the Brazilian bank, making [...]
Capco needs to pay £105m for Earls Court land April 16, 2012 CAPITAL AND COUNTIES welcomed a cabinet report by Hammersmith and Fulham council yesterday that shows “good progress” is being made on talks to include the council’s land in the group’s £8bn Earls Court regeneration scheme. Under the draft agreement, the developer will be allowed to buy the council’s 22 acres of land in the Earls [...]
Pace revenues strong despite hard drive supply shortages April 16, 2012 TECHNOLOGY firm Pace yesterday said it was pleased with revenues for the start of 2012 – but admitted that it was still being affected by the global hard drive shortage. The firm, which provides set-top boxes to companies such as Virgin Media, was badly affected by last year’s Thai floods, which severely damaged the global [...]
Nokia hits new low as Moody’s slashes rating April 16, 2012 RATING agency Moody’s dealt a fresh ratings blow to Nokia yesterday, dragging its shares to their lowest level in 15 years and reflecting the Finnish handset maker’s struggle to compete with Apple and Samsung. Moody’s cut Nokia’s long-term credit rating to Baa3, one level above speculative grade, sending the battered shares to a historic low [...]
ANALYST VIEWS WHAT DOES THE FUTURE HOLD FOR PACE? April 16, 2012 NICK JAMES NUMIS SELL. Given the significant debt for a business with low visibility and operating in a highly disruptive market environment, describing the balance sheet as “robust” feels a stretch in our view. Pace issuing such authoritative guidance for a company that has warned so frequently seems rather irrational. IAN ROBERTSON SEYMOUR PIERCE BUY. [...]
Mattel profits fall on cost of HIT acquisition April 16, 2012 MATTEL yesterday reported weaker-than-expected quarterly results as the world’s largest toymaker struggled to convince shoppers to buy Barbie dolls at higher prices and retailers cut back on inventory. Mattel shares, which have gained more than 22 per cent since the beginning of this year, fell as much as 10 per cent yesterday to $30.59, their [...]
Georgian state railway builds up steam ahead of London IPO April 16, 2012 GEORGIA yesterday announced plans to sell up to 25 per cent of shares in the state railway monopoly through a float on the London Stock Exchange (LSE) that could raise as much as $200m (£126m). Free to set its own tariffs, the railway boasts one of the largest profit margins in the global rail industry [...]
Samsung announces launch of new Galaxy smartphone model April 16, 2012 SAMSUNG Electronics said yesterday it would unveil the third generation of its flagship smartphone Galaxy S in London on 3 May, banking on a heavy marketing campaign in the lead up to this summer’s Olympics. Samsung became the world’s top smartphone maker last year on the back of strong sales of its Galaxy lineup. More [...]
COTY STILL KEEN ON THE AVON LADY April 16, 2012 BEAUTY product company Coty, whose $10bn bid for larger rival Avon Products was rejected earlier this month, yesterday reaffirmed its original cash offer of $23.25 per share for its larger rival. Coty said it remained interested in discussing its proposal with Avon, which named Johnson & Johnson senior executive Sherilyn McCoy as its new CEO [...]