Ex-Dixons boss lands £36m for joining Apple May 27, 2012 JOHN BROWETT, the former boss of Dixons, is to receive a $56m (£36m) golden hello from Apple for taking charge of the tech giant’s network of stores around the world. Browett, who has been at the helm of the struggling British electronics group since 2007, moved to California last month after he was poached by [...]
France Telecom buys Mobinil May 27, 2012 FRANCE Telecom acquired 94 per cent of Egyptian mobile phone company Mobinil in a tender offer worth around £2bn, Egypt’s stock exchange said yesterday, giving the French group control of a top sector player in a volatile but lucrative emerging market. Mobinil, founded by Egyptian businessman Naguib Sawiris, competes with Vodafone Egypt for dominance of [...]
OLYMPIC MEDIA BUZZ LONDON 2012 PARTNERS May 27, 2012 IN ASSOCIATION with Repskan.com, City A.M. is measuring the relative Olympic media buzz around the London 2012 Olympic and Paralympic Games partners, week by week. The leaderboard, right, reflects their ranking over the past week, in this case from Wednesday 17 May to Wednesday 24 May. As the Olympic Flame took flight on board the [...]
Canada’s Mercom Oil Sands set for £32m float on London’s Aim May 27, 2012 CANADIAN oil exploration company Mercom Oil Sands said it has raised £3.35m through the issue of new shares ahead of its flotation on the Alternative Investment Market tomorrow. The company, which was founded earlier this year to buy and develop oil sands properties in Canada, said it has sold 33.5m shares at a price of [...]
CITY MOVES WHO’S SWITCHING JOBS May 27, 2012 Legal & General Property The institutional property fund manager has made several appointments to its research team. Head of research Rob Martin has been promoted to the board of Legal & General Property. He joined the firm from Hammerson in October 2006. Barbora Melezinkova has been appointed performance analyst. She joins from IPD, where she [...]
BEST of the BROKERS May 27, 2012 BREWIN DOLPHIN Numis rates the investment manager “sell” with a target price of 110p ahead of its interim results tomorrow. The broker expects a drop in adjusted earnings per share, from 6.7p a year ago to 4.5p – much lower than consensus estimates of 6.7p. Numis warns that consensus forecasts seem to be overlooking a [...]
WALL ST WEEK AHEAD May 27, 2012 INVESTORS will grapple this week with major US economic reports and the looming possibility of a Greek exit from the Eurozone, which is likely to keep dragging on equities for weeks to come. As contingency plans are made for Greece’s possible departure from the Eurozone, investors may not get a clear picture until Greece holds [...]
LONDON REPORT May 27, 2012 AS DELIBERATIONS over the Eurozone’s future rumble on this week, weighing on global markets, a raft of retail firms are due to report on how the British high street has treated them in recent months. The FTSE 100 rose 1.5 per cent last week, but is still down two per cent down since the start [...]
Forget the Brics: Breakout nations will be the next countries to watch May 27, 2012 NO IDEA has done more to dull thinking about the world economy than the acronym Bric. It lumps together Brazil, Russia, India and China, all with little in common other than that they are the largest economies in their regions. The Bric idea has spawned endless copycats in the last decade, because it was an [...]
European cookie law risks hurting UK tech business May 27, 2012 THE 12 month grace period for the Cookie law is over. The Information Commissioner’s Office (ICO) will now start to enforce regulations resricting the storage of personal data. Businesses which use cookies or other tracking techniques to gather information from website users must comply. The Cookie law is a European based law, and is being [...]
