UTV to meet forecasts but stays cautious November 18, 2009 Northern Irish broadcaster UTV Media said it expects 2009 operating profits to be in line with market estimates, helped by cost cuts, but was cautious about trading in 2010. UTV, which operates the ITV franchise in Northern Ireland, said revenue declined eight per cent for the 10 months ended 31 October, compared to a year [...]
New ITV boss meets with City approval November 18, 2009 Troubled broadcaster ITV saw its shares lift by 3.5 per cent yesterday after it announced the appointment of City high-flier and former Tory MP Archie Norman as its chairman. After months of speculation, analysts applauded the selection of a big-hitting turnaround specialist, with strong links to the Tories, to guide ITV’s strategy moving forward. Norman [...]
Eurozone building dips November 18, 2009 CONSTRUCTION output in the 16-nation eurozone fell by 1.1 per cent in September compared with the previous month, according to official statistics released yesterday. In August, production in the sector rose by 0.1 percent in the eurozone, Eurostat, the official European statistics agency said. Compared with a year ago, construction output dropped by eight per [...]
Gloomy US homes data November 18, 2009 CONSTRUCTION of new homes in the United States hit a six month low in October, providing more evidence of the economy’s sluggish recovery, while a surge in the cost of new and used vehicles lifted consumer prices. The Commerce Department said housing starts dropped 10.6 per cent to an annual rate of 529,000 units, the [...]
CBI: industrial output will grow by next year November 18, 2009 UK FACTORY orders fell at their slowest pace in November for almost a year, while export demand was the strongest since April, the CBI’s monthly industrial trends survey showed yesterday. The CBI survey’s total order book balance rose to an 11-month high -45 per cent this month, up from -51 per cent in October, slightly [...]
Ferrero family divisions threaten to melt the deal November 18, 2009 DIVISIONS in the Ferrero family could mean that the Italian chocolatier does not end up launching a joint bid for Cadbury with its USrival Hershey. The head of the family-owned company Michele Ferrero – who took control of the firm from his father and uncle in the 1950s – is said to dislike leveraged deals. [...]
Hershey needs to get the green light from its trust November 18, 2009 HERSHEY, the US candy giant that makes the iconic Kisses chocolate and Reese’s peanut butter cups, has its own hurdles to overcome before it can make an offer for Cadbury. The group’s Hershey Trust Company – an independent trust company founded by Milton S. Hershey in 1905 – controls 30 per cent of the candy [...]
City divided on Cadbury’s new suitors November 18, 2009 THE City was yesterday divided over the prospect for a Cadbury bidding war as Ferrero and Hershey confirmed they were in early talks about a possible offer for the UK giant. Some said that the presence of other potential bidders in the field would prompt Kraft to increase its offer. One analyst said: “Kraft has [...]
Three-way clash among MPC over QE November 18, 2009 TENSIONS on the Bank of England’s monetary policy committee (MPC) came to a head in November as members clashed in a three-way split over the way forward for its quantitative easing (QE) policy, the minutes of its last meeting showed yesterday. The committee voted unanimously to keep interest rates on hold at 0.5 per cent [...]
NEW BOSS NORMAN PREPARES TO BRING THE ROMANCE BACK TO ITV November 18, 2009 THE market has roundly welcomed ex-Asda boss and former Tory MP Archie Norman’s appointment to the chairman’s seat at ITV, but has anyone considered the most pressing question it throws up for the broadcaster? Allow me to explain. Back in Norman’s retail days, perhaps the most exciting new initiative at Asda was the introduction of [...]
