Aegis buys US digital agency February 22, 2012 Aegis Group is speeding towards its twin targets of US expansion and digital media growth by agreeing to acquire Roundarch, the American digital agency, for a maximum consideration of $360m (£229.6m) in cash. The British communications company will pay an initial $125m for its new addition, but is more likely to fork out nearer $250m [...]
LightSquared cuts staff in half February 22, 2012 LightSquared plans to axe half of its employees to save money after the US wireless network defaulted on its $56m rental fee to Inmarsat last weekend. The company hit a blockade last week when US communications regulator the FCC revoked permission for LightSquared to move ahead with its wireless network, which was found to be [...]
Alibaba stocks soar on delist plan February 22, 2012 Shares in Chinese e-commerce giant Alibaba.com soared yesterday after the website’s parent, Alibaba Group, bid up to HK$19.6bn (£1.6bn) yesterday to buy out minority shareholders and delist the business. Alibaba Group, led by Jack Ma, offered a 46 per cent premium of HK$13.50 a share for the 27 per cent it does not already own, [...]
Micro Focus says trading on track February 22, 2012 Micro Focus has said its trading was in line with expectations in the latest quarter. The FTSE 250 firm ended the period with a net debt position of $156m (£99.5m), compared to $47.6m at the end of October, the firm said in a statement yesterday.
CITY SALUTES ARMED FORCES AT GUILDHALL February 22, 2012 THE CREAM of London’s business and culinary talent last night came together at Guildhall for the Square Mile Salute fundraiser to support the armed forces. Owen Paterson, secretary of state for Northern Ireland, was guest of honour at the military fundraiser, where 13 of the world’s top chefs – including John Williams of The Ritz [...]
PICK OF THE AUCTION LOTS February 22, 2012 Skiing with Franz Klammer Four days skiing next winter in the premier skiing locations in the Italian, German and Austrian Alps, hosted and personally guided by Olympic Champion Franz Klammer. Five Nights on Albany in the Bahamas Trip of a lifetime. The resort that is the vision of Tavistock Group and golfing legends Tiger Woods [...]
Barratt sees swing back into profits February 22, 2012 BARRATT Developments swung back into profit in the first half of the year thanks to its increased focus on higher margin regions, building houses rather than flats and developing low-cost land bought after the 2008 property crash. Shares, which are up almost 50 per cent since Christmas, rose almost eight per cent yesterday after the [...]
4G rollout expected this year February 22, 2012 EVERYTHING Everywhere could roll out the next generation of mobile network (4G) later this year despite expectations that Ofcom’s auction of the coveted 800MHz spectrum “will not see any real action” until early 2013. The UK hybrid of Orange and T-Mobile is running an ongoing 4G trial in Cornwall on the 800MHz spectrum and is [...]
Logica leaps on recovery from December despair February 22, 2012 SHARES in London-listed Logica jumped over six per cent to 86.7p yesterday despite an 80 per cent drop in pre-tax profits to £32.7m, as the IT services provider reported improved trading since its December low point that led to a profit warning and 1,300 job cuts. In 2011, the Anglo-Dutch company’s revenues grew four per [...]
Peugeot moots General Motors alliance in Europe February 22, 2012 GENERAL Motors and PSA Peugeot Citroen are discussing a manufacturing alliance designed to stem losses in Europe and reduce production costs elsewhere, sources with knowledge of the matter said. Talks between GM, the world’s biggest carmaker, and European number two Peugeot are focused on sharing vehicles and parts rather than swapping stakes, according to the [...]
