Ericsson takes in BelAir February 21, 2012 Swedish telecoms firm Ericsson is to buy privately-held WiFi technology firm BelAir Networks as part of its plan to boost its mobile broadband offering. BelAir, which produces indoor and outdoor WiFi systems for telecoms operators that allow people to surf the internet without a physical coupling to a network, has 120 staff. Ericsson did not [...]
Colliers extends bid deadline February 21, 2012 Property services group Colliers International has agreed to extends its “put up or shut up” deadline for its majority shareholder Firstservice Corporation to make a bid for its troubled UK arm. The firm had a deadline of 5pm yesterday to make a formal offer according to Takeover Panel rules, but Colliers has extended the deadline [...]
Sales slow at Asda but boss stays upbeat February 21, 2012 ASDA, owned by US retailer Wal-Mart Stores, yesterday posted a slowdown in sales growth in its fiscal fourth quarter as shoppers cut back due to rising prices, muted wages growth and an uncertain economic outlook. Chief executive Andy Clarke said he was instinctively optimistic about prospects in 2012 but said it was too early to [...]
Misys suitor talks up its merger bid February 21, 2012 TEMENOS insisted yesterday its plan to merge with British banking software group Misys presents the best deal for both sides, despite the rival offer from Vista Equity Partners on Monday. Swiss-based Temenos, which reported a 35 per cent fall in fourth quarter adjusted profits to $35.2m (£22.3m), said the merger would give “enhanced scale and [...]
Dell disappoints with glum view February 21, 2012 Dell shares fell after hours yesterday after the tech firm forecast fiscal first-quarter revenue below Wall Street’s expectations, stoking fears the PC industry has not fully emerged from its downturn. The world’s third-biggest personal computer maker projected sales would be down seven per cent this quarter from the previous quarter, when it posted revenue of [...]
Kraft forecasts earnings growth February 21, 2012 Kraft Foods has forecast earnings growth of at least nine per cent this year even as it prunes its portfolio of North American brands. Kraft, due to split in two this year, forecast 2012 net revenue growth of about five per cent, including a hit of up to one percentage point from “product pruning” in [...]
Macy’s expects sales gains February 21, 2012 Macy’s expects further sales gains this year, helped by the broad array of exclusive and private brands that led to a higher profit in the holiday quarter. For the new fiscal year just under way, Macy’s expects sales at stores open at least a year to rise 3.5 per cent. Macy’s reported net income of [...]
Home Depot beats Street forecast February 21, 2012 Home Depot quarterly results have beaten Wall Street estimates as a warm winter boosted sales at the world’s largest home improvement chain by pulling some spring demand forward. Home Depot’s quarterly sales rose 5.9 per cent to $16.01bn (£10.2bn) in the fourth quarter ended on 29 January, well ahead of the analysts’ average estimate of [...]
Tesco changes tack on job scheme February 21, 2012 Supermarket giant Tesco yesterday agreed to start paying young people taking part in the government’s work experience scheme, in a bid to halt growing complaints about the programme. Tesco had been advertising long-term, unpaid positions for those on jobseekers’ allowance.
Everything Everywhere’s vow to invest February 21, 2012 EVERYTHING EVERYWHERE has pledged to invest at least £1.5bn over the next three years in improving network speed, reliability and coverage. The promise, first reported by City A.M. in December, came as the hybrid telecoms group reported a 2.1 per cent annual increase in underlying service revenue due to high demand for data plans. Adjusted [...]