Tips to take away from the Ruspetro flotation January 23, 2012 THE successful flotation of Ruspetro, the Russian oil and gas explorer, is being looked on by many in the City as an opportunity to finally get a moribund IPO market off the ground. It’s the first main market listing of the year and it follows a period during which only the most courageous or crazy [...]
Tube to get wi-fi before Games January 23, 2012 London Underground passengers will be able to use wi-fi at 120 stations in time for the Olympics, a Transport for London boss has said. TfL oversaw a successful trial at Charing Cross last year, but there were fears of delays after telecoms firm Huawei pulled out of a deal to provide the network. But a [...]
Kodak replaces restructuring boss January 23, 2012 Eastman Kodak replaced its chief restructuring officer yesterday, just a handful of days after it filed for bankruptcy protection. James Mesterharm, who works for the consultancy firm AlixPartners, will replace Dominic DiNapoli, the FTI Consulting employee who was chosen just last week. The firm said there was no “disagreement or difference of opinion” with the [...]
Texas Instruments beats Street January 23, 2012 Texas Instruments last night reported higher-than-expected fourth-quarter revenue as demand for its chips improved more quickly than it had forecast. The US company, which makes chips for everything from consumer electronics to industrial equipment, reported a profit of $298m (£191m), down by two-thirds on a year ago. Revenue fell three per cent to $3.42bn, beating [...]
Ocado shares fall as finance chief resigns January 23, 2012 OCADO saw its shares fall yesterday after the online grocer announced that Andrew Bracey, its chief financial officer, has quit to join the recruiting agency Michael Page as its finance director. Bracey, who joined Ocado just 18 months ago ahead of its controversial flotation in 2010, will step down in April after completing the group’s [...]
Asda plans £500m expansion January 23, 2012 ASDA has announced it will create 5,000 new jobs in 2012 by opening 25 new stores and three depots across the UK. Britain’s second largest supermarket chain has earmarked £500m for the investment that will also expand and refurbish 43 of its existing stores. The 25 new shops will add over 600,000 square feet of [...]
Retail guru leaves the firm he helped to float January 23, 2012 ANDREW Bracey, who is leaving the world of online grocery shopping to join recruiter Michael Page, has been Ocado’s chief financial officer since November 2009. Prior to Ocado, he was head of consumer and retail investment banking at Jefferies International, with an 18-year career in investment banking and private equity behind him. After studying at [...]
Thomas Cook shares down as bookings drop January 23, 2012 THOMAS Cook’s shares took a battering yesterday after it emerged that its summer bookings by British customers were sharply lower in early January. The news further dents confidence in the embattled holiday operator after a string of profit warnings and a funding crunch. Reports yesterday claimed Thomas Cook’s sales had fallen by 33 per cent [...]
Associated Press chief to leave January 23, 2012 Global news network Associated Press (AP) announced yesterday that Tom Curley, president and chief executive since 2003, will step down this year. Curley boosted AP’s move into digital space by overseeing the creation of a digital database featuring AP content available in every format. Curley will continue in his role until a successor is in [...]
Digital consumerism on the up January 23, 2012 Almost two thirds of consumers are willing to pay to stream films online according to the latest media and entertainment survey from KPMG, which brings to light a breakthrough for online TV and movie streaming. While the report shows that the majority of respondents prefer traditional media such as physical books and scheduled TV, smartphone [...]
