Woodford in plea for justice as Olympus case opens in UK March 1, 2012 THE former chief executive of Olympus yesterday vowed to “hold to account” the Japanese technology firm as he launched employment tribunal proceedings in London. Michael Woodford, who was fired after questioning $1.7bn (£1.1bn) of payments, could receive tens of millions of pounds if he wins the case against his former employer. His contract to run [...]
Spirent Comms profit increases March 1, 2012 SPIRENT Communications yesterday posted a 10 per cent rise in its full-year profit, helped by strength in its core performance analysis segment, but cautioned that the prevailing economic environment could hurt it in the short-term. West Sussex-based Spirent, which tests telecom devices and wireless networking equipment, said pre-tax profit rose to $123.3m, from $112.2m a [...]
Passengers up at Eurotunnel March 1, 2012 EUROTUNNEL swung into profit in 2011, crediting steady growth in passenger numbers. Revenues rose 16 per cent to €845m (£706m) at the Channel Tunnel operator, allowing it to post a €272m operating profit and after-tax earnings of €11m. The number of cars using the Chunnel rose by six per cent to 2.26m, while truck traffic [...]
Student landlord enjoys rise in value March 1, 2012 BRITAIN’S largest student landlord Unite saw its net asset value (NAV) increase by eight per cent a share last year, driven by strong rental growth and development activity. Chief executive Mark Allan said the group’s NAV of 318p would have been higher if it were not for a £21m charge it incurred for closing its [...]
Derwent partners with Grosvenor in Hyde Park scheme March 1, 2012 PROPERTY firm Derwent London has set up a joint venture with Grosvenor Estates, London’s biggest landlord, to redevelop a 1.5 acre site at Hyde Park Corner into a £200m luxury scheme. The two are planning to turn 1-5 Grosvenor Place into a mixed-use development, which will include a five-star hotel as well as offices and [...]
Aberdeen edges closer to FTSE 100 promotion as quarterly review nears March 1, 2012 ABERDEEN Asset Management could yet be promoted to the FTSE 100 for the first time in next Wednesday’s index reshuffle, after its shares recovered from a five per cent drubbing earlier in the week. Aberdeen had already fallen 3.5 per cent in the week to Wednesday, when news broke that Credit Suisse was selling some [...]
North American investors surge into London office market March 1, 2012 NORTH American investors now account for a quarter of all cross-border purchases in the central London office market, according to figures from CBRE, the world’s largest commercial property business. The influx of buyers from the US and Canada has seen their share of central London office transactions conducted by foreign investors jump from 10 per cent [...]
Lego builds higher profit thanks to cinema tie-ups March 1, 2012 TOY firm Lego posted a sharp rise in profits yesterday, boosted by bumper sales of its popular Star Wars and Harry Potter tie-ins. Net income at the company increase by 12 per cent to a record 4.16bn Danish krone (£470m) in 2011, while revenues rose 17 per cent to reach 18.7bn krone. The group said [...]
WHY DO YOU THINK LEGO IS STILL SO POPULAR IN THE AGE OF VIDEO GAMES? March 1, 2012 AMY WRIGHT | BUCK “Lego engages the imagination. Children can create something they thought of themselves whereas a video game is pre-conceived by someone else. Video games also reach an end, but the possibilities with Lego are endless.” RICHARD WILLIAMS | HUDSON “It’s quite a versatile product. Lego’s success is also down to the fact [...]
London 2012 IMAGE OF THE WEEK March 1, 2012 ON BOARD | THE RINGS This week, Boris Johnson launched a set of giant Olympic rings onto the Thames to mark 150 days until the start of the Games. Pictured here floating past the Tower of London, the rings took in Canary Wharf and the City before heading back into storage. Photo: Laura Lean / [...]
