Capital One profit beats estimates April 19, 2012 Capital One Financial posted an adjusted first-quarter profit yesterday that topped Wall Street estimates, as customers borrowed more from the credit card company-turned-bank. As the US economy begins to add jobs and gain strength, consumers have become more comfortable with taking on debt and commercial businesses have been borrowing as they look to lock in [...]
Chipmaker AMD gets share boost April 19, 2012 Chipmaker Advanced Micro Devices (AMD) forecast revenue above analyst expectations yesterday boosting its shares in after-market trading. AMD posted first-quarter revenue of $1.59bn, down from $1.61bn in the year-ago period. It estimated second-quarter revenue would rise three per cent from the previous quarter, plus or minus three percentage points.
Nokia shares spiral as profits plunge into red April 19, 2012 NOKIA’S shares plunged by almost four per cent yesterday after the struggling Finnish phone maker reported a €1.34bn loss in its first quarter and announced its head of sales is preparing to leave. The Helsinki-based company said that “greater than expected competitive challenges and seasonality” drove operating profit into the red, from a €439m gain [...]
Aquascutum calls time on Corby factory with the loss of 115 jobs April 19, 2012 AQUASCUTUM, the 160-year old clothing brand which collapsed into administration earlier this week, is to shut its factory in Corby making 115 people redundant. Administrators FRP Advisory, said yesterday that it had concluded the plant in Corby was not viable due to “loss-making operations and a lack of funding.” “Whilst a difficult decision, it has [...]
OFT cuts British Airways fine for fuel surcharge pact with Virgin April 19, 2012 THE OFFICE of Fair Trading has halved a fine imposed on British Airways for colluding with rival airline Virgin Atlantic over fuel surcharges. The consumer and competition watchdog said it had dropped the fine to £58.5m down from a record £121.5m thanks to BA’s help during the investigation and changes to competition law, following an [...]
Philip Morris sales boosted by emerging markets and pricing April 19, 2012 PHILIP Morris, one of the world’s biggest tobacco groups, said yesterday that its profits for the first quarter had risen 13 per cent, boosted by a rise in prices. The company, which makes cigarettes including the Marlboro and Benson & Hedges brands, reported net income of $2.16bn (£1.35bn) for the three months to 31 March, [...]
Publicis expects Olympic boom April 19, 2012 Publicis, the world’s third-largest advertising group, yesterday reported a growth of 13 per cent in first quarter sales but predicted a slower second quarter as clients shift their advertising budgets to coincide with the London Olympics and US presidential election. Organic growth in the first quarter was 4.1 per cent, while Publicis chief executive, Maurice [...]
ITV to offer adverts with Shazam April 19, 2012 ITV has signed a deal which will see it become the exclusive UK distributor of Shazam-enabled TV advertising. Viewers who have the popular music-finding app on their smartphone will be able to use it to interact with Shazam-enabled adverts to enter competitions, gain product information or download free music. Shazam for TV has been successful [...]
Ladbrokes gallops to profit rise April 19, 2012 Ladbrokes’ shares jumped almost seven per cent yesterday as the bookmaker posted a 3.9 per cent profits rise to £50.4m in its first quarter. The London-listed company grew revenues 8.9 per cent, boosted by favourable results at the recent Cheltenham horse racing festival. Ladbrokes pointed to its digital division, where revenues increased by 5.9 per [...]
Debenhams in Jubilee mood April 19, 2012 DEBENHAMS chief executive Michael Sharp said the retailer would benefit from the “feel good” factor the Jubilee weekend would bring but remained cautious of the effect of the Olympics on the retailer, as it reported a rise in profits. “I know, because it comes along every four years, that European football distracts spending into televisions, [...]
