CSR restructuring hurts profits May 1, 2012 ● British chipmaker CSR posted a 38 per cent rise in first-quarter revenue yesterday, boosted by demand for silicon used in headphones and cars, but saw its statutory losses widen to $14m due to restructuring costs. The firm saw underlying operating profit rise to $2.7m (£1.67m) on revenue of $227m.
US corporate results round-up May 1, 2012 Avon’s profit sinks as reps fall AVON reported a two per cent drop in quarterly sales yesterday after seeing the number of active sales representatives fall and the company dealt with higher costs. Avon, the world’s largest direct seller of cosmetics, also said net income fell 81.5 per cent in the first quarter, hurt by [...]
Striking the right balance between value and quality is what keeps Premier on top May 1, 2012 THE weather that we are experiencing may not suggest it, but we are now well into the season when people start thinking in earnest about their summer holidays. So, I’ve taken a look at how major hotel chains have fared recently on YouGov’s BrandIndex. The leader on the Index score (a composite of six key [...]
WHO’S SWITCHING JOBS May 1, 2012 Providence Resources The Aim-quoted oil gas and exploration company has appointed Simon Brett as chief financial officer with immediate effect. He has previously held senior finance positions with Damovo Ireland and Coca Cola Bottlers Ireland, and worked at Johnson Wax, Sega Europe and US Can Corporation. New World Oil and Gas The oil and gas [...]
BEST of the BROKERS May 1, 2012 AB INBEV Liberum Capital has maintained its “buy” rating on the brewer and raised its target price from €63 to €68 following its quarterly update this week. The broker says it was encouraged by the expansion in the company’s gross margin – up 200bp globally and 450bp in North America. It says the most important [...]
FTSE closes above 5,800 mark after good US data boosts world outlook May 1, 2012 B RITAIN’S top share index jumped more than one per cent yesterday after stronger-than-expected US manufacturing data gave a lift to global growth hopes, pulling commodity stocks higher. Banks were also in demand as investor risk appetite returned. Shares of Lloyds rallied more than eight per cent after the part state-owned lender reported a £288m [...]
Dow ends at highest level in four years May 1, 2012 THE Dow closed at its highest level in more than four years yesterday after US manufacturing expanded at a faster pace than expected in April, easing jitters about a slowdown in the economic recovery. The Dow Jones industrial average gained 65.69 points, or 0.50 per cent, to 13,279.32 at the close. The Standard & Poor’s [...]
Recession in the Eurozone reminds us why economic reform is so vital May 1, 2012 MUCH of the Eurozone has now tipped back into recession, prompting cries for pro-growth policies and increased spending. In these difficult times, austerity has become a dirty word, but this masks the wider failings of individual government policies and is a diversion from the collective challenge of keeping the Eurozone intact. Any attack on austerity [...]
People calling for an equal tax burden ignore how wealth is generated May 1, 2012 IN A recent article, Times columnist Philip Collins implied that an individual’s income is really the collective property of all citizens. He did not use those words, of course. He is a former speech writer for Tony Blair and a political moderate, not a communist. But he said something that makes sense only if all [...]
Contradictions in new bank rules create fresh risks May 1, 2012 ECONOMIC issues will dominate political discussions about the votes taking place across the EU in the coming month. As well as our own local elections, there are local elections in Germany and Italy, presidential elections in France and Hungary, a general election in Greece and a referendum in Ireland on the EU’s new fiscal treaty. [...]
