Nokia reports a loss January 26, 2012 DESPITE selling over one million Lumia handsets since mid-November, Nokia has struggled to scratch the surface of the Apple dominated smartphone market. Fourth quarter operating earnings at the Finnish telecoms group swung to a loss of €954m as Nokia’s $250m partnership with Microsoft failed to make waves. The Christmas quarter brought in €10bn from net [...]
2011: THE YEAR OF THE TABLET January 26, 2012 GLOBAL tablet shipments in 2011 soared to 66.9m units – over triple the previous year’s number – with Android increasingly encroaching on Apple’s market domination. Last year Android, used in Amazon and Samsung tablets among others, upped its share of the market by a third to 39 per cent, while Apple’s supremacy declined over ten percentage [...]
No consoling Nintendo on poor results January 26, 2012 A SET of bleak third quarter results from Nintendo, flanked by a drastic increase in expected losses for the year, could drive the final nail into the coffin of its game consoles. The Japanese company reported a nine-month net loss of 48.4bn yen (£400m) – compared to the 49.6bn yen profit collected by this point [...]
Broadband helps Time Warner soar January 26, 2012 TIME Warner Cable surprised the market as it reported a 44 per cent jump in fourth quarter net profit and unveiled a $4bn (£2.5bn) share buyback programme yesterday. The cable giant raised its quarterly dividend by 17 per cent as it easily exceeded estimates. Revenue at the company, the second-biggest US cable provider, increased by [...]
AT&T survives the loss of T-Mobile bid with growth to contest Verizon January 26, 2012 COSTS from AT&T’s failed multi-billion dollar bid for T-Mobile dragged down fourth quarter profit at the American telecoms giant, which reported a loss of $6.68bn (£4.25bn) despite an overall annual growth. Fourth quarter operating loss was $9bn, down from a $2.1bn gain a year earlier. However, revenues in the final months of the year rose [...]
DARK HORSE HSBC TAKES RETAIL SITE IN LATE BID January 26, 2012 HSBC is committed to the City of London – for its latest retail opening, at least. The Capitalist hears the bank has gazumped a well-known restaurateur to emerge as the new tenant at 1 Bishopsgate, after offering a far higher, undisclosed, sum to turn the disused property into a “premier suite” retail bank in time [...]
Anglo lifted by copper as diamonds dip January 26, 2012 MINING giant Anglo American yesterday posted a rise in quarterly output for its key commodities, but a dip in its diamond production, which was hit by weaker prices. The FTSE 100 company said iron ore was up five per cent at 12.4m tonnes – fuelled by the $1bn (£636m) Kolomela mine, which reaped rewards ahead [...]
London 2012 IMAGE OF THE WEEK January 26, 2012 TEST EVENT | THE LAB The London Organising Committee of the Olympic and Paralympic Games (LOCOG), laboratory service providers GlaxoSmithKline (GSK) and laboratory operators King’s College London unveil the anti-doping lab that will operate during the Games, based in Harlow, Essex. Between now and the start of the Olympics, City A.M. is publishing its Olympic [...]
ANALYST VIEWS: HOW STRONG ARE ANGLO’S PRODUCTION RESULTS? January 26, 2012 TIM DUDLEY | COLLINS STEWART The major trend you have seen across the majors has been increasing iron ore production – it is where the margins are – and they (Anglo) are following suit with that. Another positive was (metallurgical) coal which has also got strong margins. That should help offset weakness in platinum. DOMINIC [...]
CITY MOVES | WHO’S SWITCHING JOBS January 26, 2012 AXA Deborah Shire has been appointed as global head of business development at Axa Real Estate Investment Managers. Shire will join the AXA Real Estate management board and will report directly to CEO Pierre Vaquier. Shire is promoted from deputy head of structured finance at AXA Investment Managers, which she joined in 1998 as a [...]