Entrepreneurs hopeful for 2013 July 17, 2012 British entrepreneurs have not yet shaken their gloom about the UK economy – but are increasingly confident about their own ventures, according to Investec data seen by City A.M. A third of entrepreneurs expect the economy to deteriorate in the next year, compared to 27 per cent who predict an uptick. But for their own [...]
Guardian cuts after £44m losses July 17, 2012 Guardian News & Media reopened its voluntary redundancy scheme yesterday as it revealed it lost £44.2m for the last year, thanks in part to its investment in digital publishing. Digital revenues rose 16.3 per cent to £45.7m, overtaking print advertising revenues, which fell four per cent to £43.7m. The firm will report full results next [...]
Rio Tinto sees flat iron output as China drags July 17, 2012 RIO TINTO yesterday reported flat iron ore production in the second quarter compared with the same period last year. Sales fell slightly short of output, putting pressure on its shares and heightening concerns about cooling Chinese demand. Rio Tinto’s iron ore production was steady at 48.6m tonnes in the June quarter, compared with 48.9m tonnes [...]
Robust rise in production for BHP Billiton July 17, 2012 BHP BILLITON, the world’s biggest miner, this morning contrasted with Rio Tinto’s cautious stance by posting a forecast-beating 15 per cent rise in iron ore output in the June quarter from a year ago, adding that expects its iron ore output to rise five per cent in the 2013 financial year. Iron ore production rose [...]
ANALYST VIEWS | WHAT DO THE SECOND QUARTER FIGURES MEAN FOR RIO TINTO? July 17, 2012 CAILEY BARKER NUMIS A small downgrade in copper, but balanced by performance through other divisions. A predictably cautious outlook on global demand, with the company keeping a close eye on the pace of the US recovery. Overall, a fairly in line update despite the slight disappointment in copper. TIM DUDLEY CANACCORD Operationally, the iron ore [...]
Monitise says revenues will double in 2012 July 17, 2012 SHARES in Monitise outperformed the general market yesterday, after the mobile banking technology firm said it expected its full-year revenues to double in 2012 thanks to strong demand. Monitise is predicting that revenues will hit $53m (£34m) when it publishes its full-year figures in September, compared to revenues of $22m in 2011. Gross margins, meanwhile, are [...]
Hollande’s party set to scrap French tax break on overtime July 17, 2012 TAX breaks on overtime in France are set to be scrapped by new President Francois Hollande’s socialist government, it announced yesterday. The decision to reverse the policy, which was introduced by former President Nicolas Sarkozy, is being taken under the belief that it will create jobs. Prime Minister Jean-Marc Ayrault argues that the measure disincentivises [...]
Intel revenues fall short July 17, 2012 Chipmaker Intel said last night its revenue in the second quarter was a lower-than-expected $13.5bn (£8.6bn), as it warned that turnover will be weak in the current quarter. The firm’s net income was $2.8bn, down from $2.95bn a year ago, as shaky demand for PCs took its toll.
Mattel gets a Batman boost July 17, 2012 Barbie and Batman gave a lift to toymaker Mattel yesterday, as it reported a higher-than-expected quarterly profit. Shares rose nearly 10 per cent as the firm kept a tight lid on costs. Mattel said sales were broadly flat at $1.16bn, despite economic turbulence, which helped to boost net income to $96.2m, up nearly 20 per [...]
Coca-Cola grows in new markets July 17, 2012 A thirst in emerging markets offset falling demand in Europe to help Coca-Cola beat quarterly profit forecasts, the firm said yesterday. Net income was $2.79bn, down from $2.8bn a year ago, while sales volumes rose four per cent.
