APPLE RUNS OUT OF IPADS ORDERED ONLINE March 11, 2012 Demand for the new iPad shot through the roof after the tablet was revealed by Apple boss Tim Cook last Wednesday, causing Apple to run out of stock. While the iPad will be available to customers willing to queue for it from this Friday, those who pre-order the tablet online are being told to expect [...]
London listing to fuel Sylvan March 11, 2012 A US oil and gas explorer is set to list in London this month with a market value of around £60m. Sylvan Energy, based in Pennsylvania, has hired Northland Capital Partners as adviser and broker as it prepares to raise £5m on the Alternative Investment Market. Sylvan, an onshore exploration and production firm, currently has [...]
Swatch chair aims for double digit sales growth this year March 11, 2012 THE chair of watchmaker Swatch said yesterday she hopes to see double-digit sales growth this year. “We have become used to recording double-digit growth rates so that eventually single-digit growth figures are almost seen as negative,” Nayla Hayek told the Blick am Sonntag newspaper in an interview. “But if everything goes well — all indications [...]
JP Morgan China pins hopes on a recovery in company listings March 11, 2012 TWICE as many firms in China are eager to list on the stock market now compared to a year ago as rising Asian share prices rebuild confidence among businesses, the head of JP Morgan’s arm in the country said at the weekend. Fang Fang, chief executive for JP Morgan China, said firms were mulling fund-raising [...]
UAE economy doubles pace of growth March 11, 2012 THE United Arab Emirates’ economy grew an estimated 3.3 per cent in 2011, the economy minister was quoted as saying yesterday, slower than analysts had expected but still more than double the pace seen in the previous year. Economy minister Sultan bin Saeed al-Mansouri said the UAE had faced unprecedented regional and global challenges last [...]
CITY MOVES | WHO’S SWITCHING JOBS March 11, 2012 O2 The mobile telecoms giant has appointed Martin Harriman as the new head of its business development division. Harriman is joining from LightSquared, where he has been executive vice president since 2009. He has held senior positions at Ericsson in Sweden, and was chief commercial director and a founding member of Augere. Harrison will replace [...]
BEST OF THE BROKERS March 11, 2012 JD WETHERSPOON N+1 Brewin has cut its rating of the pub chain from “hold” to “reduce” with a lowered target price of 375p, down from 443p, in reaction to what it calls “a mild profit warning” in the firm’s results on Friday. The broker has also pared back its forecasts for new openings of Wetherspoon [...]
US economy adds 227,000 jobs in February March 9, 2012 The US economy added 227,000 jobs in February while the unemployment rate remained at 8.3 per cent, official figures showed. This is the first time since early 2011 that payrolls have grown by more than 200,000 – a sign the economic recovery was broadening and in less need of stimulus from the Federal Reserve. The [...]
Williams team reports earnings rise March 9, 2012 Motor-racing company, remains in good shape financially with a strong increase in turnover and net profit despite the team’s worst season on the track in Formula One. Chairman Adam Parr said the former champions are financially stable and hoping to perform better in races as well, even without a title sponsor after the departure of [...]
UK industrial output falls March 9, 2012 British industrial output suffered a shock fall in January, raising doubts about whether the economy will rebound after contracting at the end of 2011. The Office for National Statistics said that industrial output fell 0.4 per cent in January after a 0.4 percent rise in December, confounding economists’ forecasts for a 0.3 per cent rise. [...]