Obama pledges oil trade crack-down April 17, 2012 US President Barack Obama, whose political fortunes are threatened by rising gasoline prices, proposed new measures yesterday to reduce oil market manipulation that are unlikely to get support from a divided Congress. Obama called on lawmakers to raise civil and criminal penalties on individuals and companies involved in manipulative practices. He also pressed for more [...]
Regional slump leads to DMGT profit warning April 17, 2012 SHARES of Daily Mail and General Trust sank by seven per cent yesterday morning as the publishing group warned that half year profits are expected to fall as revenues from its regional newspapers continue to wane. Northcliffe Media, DMGT’s regional newspaper publishing division, saw revenues decline by 10 per cent in the period as advertising [...]
Yahoo, IBM and Intel beat Street April 17, 2012 YAHOO last night reported a modest uptick in first-quarter revenue, its first growth in three years, while Intel and IBM also beat forecasts. Yahoo also said its net income was $286m in the first quarter, up 28 per cent on a year ago, in new chief Scott Thompson’s maiden results. While IBM’s sales missed Wall [...]
Coca-Cola sales are on the rise April 17, 2012 COCA-COLA posted higher-than-expected quarterly results yesterday after the world’s largest soft drink maker sold more beverages, even in developed markets with economic worries, fuelling hopes conditions are improving. Coca-Cola’s first-quarter net profit was $2.05bn, up from $1.9bn a year earlier. Revenue rose six percent to $11.14bn, helped by a five per cent increase in overall [...]
J&J keeps a lid on its expenses April 17, 2012 QUARTERLY earnings rose at US healthcare firm Johnson & Johnson, but declining sales remain a challenge for the firm. Net earnings rose to $3.91bn, up 12.5 per cent on a year earlier. Revenue slipped 0.2 per cent to $16.14bn, which J&J blamed on the strength of the US dollar. Analysts were impressed by the speed [...]
BBC paid £150k on private eyes April 17, 2012 THE BBC spent £150,000 on private investigators in the decade to mid-2011, its director of editorial policy and standards David Jordan said yesterday. Speaking at the Home Affairs Select Committee’s inquiry into the case for statutory regulation of private investigators – launched in the wake of the phone-hacking scandal – Jordan admitted that the BBC [...]
Switch-off for analogue TV April 17, 2012 LONDON’S analogue television signal was turned off in the early hours of this morning in the latest step of the UK’s digital switchover. BBC director general Mark Thompson and Arqiva chief executive John Cresswell last night drew a line under 75 years of analogue TV broadcasts to the capital as part of the nation’s upgrade [...]
Vodafone plans war with India over new taxes April 17, 2012 VODAFONE yesterday threatened the Indian government with international arbitration, warning that it will not go down without a fight over the country’s proposed retrospective tax. The telecoms giant served the Indian government with a Notice of Dispute via Vodafone’s Dutch subsidiary, which has a bilateral investment treaty with India. Vodafone said that India’s retrospective tax [...]
Deadline looms again for the telecoms giants vying for CWW April 17, 2012 AN OFFER for Cable & Wireless Worldwide (CWW) is expected imminently as Vodafone and Tata Communications have until tomorrow to table a bid. Tata Communications is deemed the more likely bidder for the ailing cable company, although Vodafone was first to express an interest when press speculation prompted a statement in February. Espirito Santo analyst [...]
HTC shares fall after shake-up April 17, 2012 SHARES of HTC Corp fell as much as six per cent yesterday after a change in its chief financial officer and the imminent launch of a new phone by arch rival Samsung Electronics raised concerns over the Taiwanese firm’s recovery. HTC said in a statement on Monday it had appointed Chia-Lin Chang, a former partner [...]
