BT looking to launch a new music player February 26, 2012 BT is considering launching its own music service, putting it in direct competition with the likes of Apple’s iTunes and Spotify. A BT spokesperson said, “We’re keen to launch a music service this year, but the business model has to make sense.” He declined to comment on the nature of the product or its expected [...]
Sun on Sunday sells 3m copies according to Murdoch tweet February 26, 2012 THE Sun on Sunday, the new tabloid from the News International stable, sold 3m copies on its debut yesterday, according to Rupert Murdoch. Murdoch took to microblogging website Twitter to reveal that sales of the title had topped the company’s expectations. He said: “Reports early, but new Sun edition sold 3m!” Last week Murdoch said [...]
ECB is banking on second shot of cheap money February 26, 2012 ACRONYMS abound when it comes to the global financial system. First there was Tarp – the 2008 US Troubled Asset Relief Programme – which described the $700bn used to buy or insure troubled bank assets. Fast forward to December 2011, and the European Central Bank embarked on its first three-year Long Term Refinancing Operation or [...]
Gillard retains job as PM February 26, 2012 AUSTRALIAN Prime Minister Julia Gillard today won a leadership vote against rival Kevin Rudd, despite polls showing a government under her leadership would be decimated at the next elections in 2013. Gillard emerged victorious from the prime ministerial showdown against Rudd and said she hoped the result would end months of bitter leadership infighting within [...]
Downturn for ITV is halted by Downton February 26, 2012 NATIONAL broadcaster ITV is expected to show an upturn in fortunes in its annual earnings this Wednesday on the back of mega-hit TV show Downton Abbey and a rise in industry-wide advertising revenues. Analyst consensus expects the television group to report pre-tax profits of £361m, showing a growth of 12.5 per cent on 2010. But [...]
Crozier has no time for backslapping February 26, 2012 PITY poor Simon Fox, chief executive of HMV, who turned down the top job at ITV in 2009. Despite being the frontrunner to lead the free-to-air broadcaster, he decided to stay on at the music retailer to implement his turnaround plan. Alas, it looks highly unlikely that the turnaround of ailing HMV will ever be [...]
Vedanta merges Indian units to create firm worth $20bn February 26, 2012 VEDANTA, the FTSE 100 mining giant, has announced plans to merge several of its Indian subsidiaries to create a new $20bn (£12.6bn) business. The group, controlled by British-based tycoon Anil Agarwal, has over a dozen Indian units producing oil to aluminium and copper to zinc. The consolidation is expected to lead to the creation of [...]
Olympic Media Buzz LONDON 2012 PARTNERS February 26, 2012 IN ASSOCIATION with Repskan.com, the media monitoring and analytics platform, City A.M. is measuring the relative Olympic media buzz around the partners for the London 2012 Olympic and Paralympic Games, week by week. The leaderboard, right, reflects their ranking over the past week, in this case from Wednesday 15 February to Wednesday 22 February. Maintaining [...]
Deadline set for private holders of Greece’s debt February 26, 2012 A DEADLINE of 8 March – next Thursday – has been set for private holders of Greek debt to participate in the proposed bond swap, required to significantly cut the struggling state’s debt burden. The debt swap is a crucial part of Greece’s latest bailout, which is expected to see the Mediterranean country receive a [...]
Latest bailout is unlikely to be its last, as City still expects Greece to exit the euro February 26, 2012 THE City has given a resounding thumbs down to the latest Greek bailout package, with three-quarters (74 per cent) of our Voice of the City panellists saying it is “highly unlikely” that the €130bn (£110bn) rescue package will be its last. The finding of our most recent survey, run in association with PoliticsHome.com, suggests that [...]
