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 [...]
Why a tie-up isn’t necessarily the answer February 22, 2012 IN 1974, Citroën brought out its CX marque, an avant-garde masterpiece that rivalled the likes of Audi, BMW and Mercedes Benz. It was the last great Citroën. Two years later, Peugeot took over the financially-struggling car company in a deal brokered by the French government. It spent the next decade or so destroying everything that [...]
Millennium ups dividend payout February 22, 2012 MILLENNIUM and Copthorne, the owner of a chain of hotels including the Chelsea Football Club hotel, has posted record profits for 2011 and upped its annual payout to shareholders. Underlying profits before tax jumped by 43.7 per cent to £184.7m in the year to December, boosted by the sale and leaseback of its Studio M [...]
Travis Perkins earnings surge February 22, 2012 TRAVIS PERKINS, the building merchant and home improvements retailer, said it was continuing to win market share, helping to drive profits up by 37 per cent last year, despite a depressed construction market. The owner of brands including Wickes DIY chain posted adjusted pre-tax profits of £297m while revenues surged by 52 per cent to [...]
ANALYST VIEWS: CAN BARRATT BUILD ON ITS STRONG RESULTS? February 22, 2012 ROBIN HARDY | PEEL HUNT Barratt has risen 50 per cent in less than six weeks even though little has changed in its expected trading patterns and despite it making still unacceptably low returns. It risks being a case of better to travel than to arrive and we would now advise investors to carve out [...]
CITY MOVES | WHO’S SWITCHING JOBS February 22, 2012 Accor Hotel operator Accor has appointed Thomas Dubaere as managing director for UK and Ireland. Dubaere has worked for Accor for over 22 years, most recently as managing director, budget brands Accor UK & Ireland. Dubaere began his career with Accor in Belgium in 1990 at the Novotel Bruges Centre, and held several general manager [...]
BEST OF THE BROKERS February 22, 2012 COOKSON Deutsche Bank has upgraded the materials specialist to “buy” from “hold” and upped its target price from £6 to £8, citing low consensus forecasts and a very inexpensive current price as a catalyst. The broker sees the first half of this year as the low point in the industrial and steel cycles, and expects [...]
US stocks slide on doubts over credit February 22, 2012 BANKS led US stocks lower yesterday as the S&P 500 stalled near a 10-month high after signs of weak European business activity rekindled concerns about a recession overseas. US banks were the S&P 500’s worst performing sector. Investors feared that weak Eurozone growth would hamper countries dealing with heavy debt loads and the banks exposed [...]
