Transocean books $1bn Gulf charge as its losses worsen February 27, 2012 TRANSOCEAN took a $1bn (£632m) charge related to the 2010 Gulf of Mexico oil spill yesterday, the clearest indication yet that the contract driller is preparing to settle the case. Shares of Transocean, owner of the world’s largest offshore drilling fleet, rose five per cent on its solid quarterly results, and the prospect of closing [...]
The new kids February 27, 2012 ALL eyes were on Nokia yesterday morning, as delegates at the Mobile World Congress in Barcelona waited with bated breath for its latest release. Some were hoping for a long-rumoured tablet, which never materialised. What we got was a cheaper handset in Nokia’s Lumia range, the 610. It’s a solid enough device, with enough curves [...]
CITY VIEWS: IS PAYING WITH YOUR MOBILE PHONE THE NEXT BIG THING? February 27, 2012 CAORINNA BRIDGES FRIENDS LIFE “If someone stole your phone, couldn’t they could just use it? It would be like losing everything at once. I guess it could work, but I think most people would rather have things separate.” PAUL CLIFFORD SCHRODERS “It has been in the pipeline for ages, so I cannot see why they [...]
Vodafone CEO in broadside at regulators February 27, 2012 VODAFONE chief executive Vittorio Colao yesterday said pressure from regulators could strangle investment in the mobile industry and leave Europe floundering behind the US. He said radical reform of the “auto-pilot” regulation facing European operators could be the difference between the industry returning to growth or starting a downward spiral that could see Europe become [...]
Mobile payments dominate agenda as rivals line up plans February 27, 2012 MOBILE payments were top of the agenda at Mobile World Congress yesterday, with the telecoms industry’s biggest players scrabbling to become the gatekeepers to consumer spending. Vodafone announced a tie-up with Visa to allow customers to pay for goods by swiping their phones instead of paying by card or cash. The scheme, which will be [...]
AB Foods hit as Primark growth slows February 27, 2012 SHARES in Primark-owner Associated British Foods dipped yesterday despite an upbeat outlook from the firm, after it admitted sales growth at its discount fashion cash cow had slowed in recent months. The company said it expected like-for-like sales at Primark to have grown by two per cent in the first six months of its financial [...]
LK Bennett boosted by international expansion February 27, 2012 LK BENNETT, the upmarket womenswear brand, has shrugged off the economic gloom to report a 17 per cent rise in full-year profits to £54.6m. The retailer, which runs 107 shops in the UK and 40 in Europe and US, said “excellent growth” in internet sales and a strong expansion overseas had helped drive sales up [...]
ANALYST VIEWS: WHAT’S THE OUTLOOK FOR AB FOODS? February 27, 2012 DARREN SHIRLEY | SHORE CAP We do not anticipate any material changes to group forecasts post today’s update, though given the breadth of ABF’s operations we would not be surprised if we tweak divisional forecasts post speaking to management. We commenced 2012 with ABF our preferred stock of the FTSE 100 food producers … we [...]
ALPARI BACKS SAILING SERIES February 27, 2012 TAKING the City’s love of yachts to the next level, online foreign exchange trading services group Alpari has set sail with a global boating competition, the newly-named Alpari World Match Racing Tour. Co-captains Jim O’Toole, chief executive of the tournament, and David Stuart, chief operating officer of Alpari, announced the partnership yesterday alongside a bespoke [...]
WITTY VODAFONE CHIEF BRINGS THE HOUSE DOWN February 27, 2012 VODAFONE almost brought the house down yesterday. Not with an announcement, you understand: literally. During a press conference with chief executive Vittorio Colao, the Vodafone stall was stormed by security and everybody ordered to evacuate. Outside a crowd had gathered to gawp at the side of the two storey structure, which had bulged open and [...]
