Grainger sales up 13 per cent August 9, 2012 RESIDENTIAL landlord Grainger yesterday revealed property sales totalling £202.1m in the 10 months to July 2012, up 13 per cent on the previous year, as it continued to pay down debt. In an interim management statement, Chief Executive Andrew Cunningham, said the group continued to outperform the general residential market, with gross rents increasing by [...]
ABC overcomes TV hurdle with plastic Aussies August 9, 2012 CREDIT where credit’s due. The BBC have produced superb coverage of the London 2012 Olympics – but then it helps to have live broadcast rights for nearly every sport. Spare a thought for presenters at TV networks without that privilege, such as Australia’s ABC, who were forced to hit on a creative way of bringing [...]
LONDON 2012 IMAGE OF THE DAY August 9, 2012 Throughout the Olympics, City A.M. will be publishing its Olympic Image of the Day. If you have a shot you think our readers will like, please email pictures@cityam.com BMX riders crashed in an early heat yesterday, with only the race leader, Marc Willers of New Zealand, completing the gruelling course unscathed.
Football fun in the West End as Pele heads to Carnaby St August 9, 2012 TURNS out you don’t have to hunt down the last of the elusive (and eye-wateringly expensive) Olympic tickets if you want to see a world-famous sportsman in London this weekend. Pele, arguably the world’s greatest footballer and certainly the most famous face of erectile dysfunction solutions, is in town to meet fans at Soccer Scene [...]
RIM blasts US law as it wins a fine appeal August 9, 2012 BLACKBERRY maker Research in Motion (RIM) hit out at the US patent system yesterday after the Canadian company won an appeal overturning a $147.2m (£94.2m) fine it was ordered to pay to enterprise software company Mformation Technologies. The firm’s chief legal officer said: “The purpose of the patent system is to encourage innovation, but the [...]
Nokia sells Qt software and 500 patents August 9, 2012 STRUGGLING cellphone giant Nokia said yesterday it will sell some 500 wireless patents to US firm Vringo and divest its Qt software business to Finnish IT services firm Digia Oyj to bolster its fast-shrinking cash reserves. Nokia is fighting for survival after losing out in the smartphone war to Apple and Samsung. The world’s second-largest [...]
Dawsons shares suspended August 9, 2012 Shares in Scottish textiles firm Dawson International have been suspended, with a black hole in the company’s pension plan threatening to force it into administration. Dawson’s pension fund’s actuaries have sent notices to the firm demanding it plough millions of pounds into the account, a sum far beyond the value of the company.
Leed drops on licence dispute August 9, 2012 Shares in Leed Resources fell yesterday after the firm revealed that a third party has claimed it owns part of Leed’s Kok Kiya licence area in Kyrgyzstan. The company said a third party had claimed it “might have an interest in part of Kok Kiya”, sending shares down 20 per cent during yesterday’s trading. The [...]
Porsche loses bid to halt lawsuit August 9, 2012 A New York state court has rejected a motion by Porsche SE to dismiss a $1.4bn-plus lawsuit brought by 26 hedge funds alleging fraud and unjust enrichment stemming from its trading in Volkswagen’s shares four years ago. Porsche SE, a holding company whose carmaking business in now owned by Volkswagen, said it continued to believe [...]
Correction August 9, 2012 In a piece printed yesterday on mining firm Rio Tinto’s profits, City A.M. referred to a recent report from BHP Billiton. BHP Billiton does not report its preliminary results until Wednesday 22 August. We apologise for the mistake.
