iPhone encroaches on China February 21, 2012 Apple is set to boost its flagging share of the world’s biggest mobile phone market, as the iPhone becomes available on network provider China Telecom from next month. Last quarter Apple ranked just fifth in China with 7.5 per cent of the smartphone market, pipped by local firms ZTE and Huawei. However, China Telecom is [...]
Asian markets boost Genus February 21, 2012 Genus shares jumped two per cent as the animal genetics company reported a 25 per cent rise in pre-tax profits to £23.3m and announced it would pay an interim dividend for the first time this year. While weak demand in the European pig market impinged profits across the continent, global porcine sales volumes were boosted [...]
Segro asset value hit by write-downs February 21, 2012 SEGRO, the industrial property developer, said that it was hit by a 9.6 per cent decline in its net asset value (NAV) last year after bigger-than-forecast write-downs on its portfolio. The real estate investment trust said its NAV per share fell to 340p after the group wrote down the value of its non-core assets by [...]
Strong profits at BNP Paribas Real Estate February 21, 2012 BNP PARIBAS Real Estate enjoyed a strong performance in 2011 despite tougher market conditions, posting an 11 per cent rise in operating profits to €156m (£130.8m). The real estate advisory arm of France’s biggest listed bank – which posted full-year profits of £6bn last week – said turnover increased by six per cent to €658m [...]
ANALYST VIEWS: WERE SEGRO’S RESULTS ON TRACK? February 21, 2012 LI SUN | ORIEL SECURITIES Segro reported solid results… although adjusted net asset value of 340p was below our estimate of 352p due to higher than expected non-core asset write-down. Underlying operation remains solid with small improvements to occupancy and retention rate… We retain “add”. MIKE BESSELL | INVESTEC Segro’s results were in line with [...]
STOCK EXCHANGE BLOCKS STELIOS FROM AIRING HIS LATEST ATTACK February 21, 2012 EASYJET founder Sir Stelios Haji-Ioannou has never been shy about letting the airline’s management know what he really thinks. But yesterday’s attack on chairman Mike Rake’s team, in which he paints EasyJet lawyers Herbert Smith in an unflattering light, was the straw that broke the London Stock Exchange’s back – it refused to publish the [...]
Rathbones in profit despite Europe drama February 21, 2012 RATHBONE Brothers shrugged off concern over the Eurozone to post a 20 per cent rise in profits for last year. The genteel wealth manager, whose origins go back to 1742, said global output is continuing to grow and there are “small signs” of improvement in some developed economies. Rathbones, which has a banking licence, pulled [...]
Strauss-Kahn grilled in Paris prostitutes inquiry February 21, 2012 FORMER IMF chief Dominique Strauss-Kahn was questioned by police yesterday over his dealings with an alleged prostitution ring that was run from the northern French city of Lille and organised sex parties in Paris, Brussels and Washington. Strauss-Kahn was to remain in police custody overnight. The investigation is focused on a prostitution ring that allegedly [...]
Four bids for Edinburgh airport February 21, 2012 Ferrovial, the owner of British airports operator BAA, has produced a four-strong shortlist of bidders for its Edinburgh airport and will accept final offers in early April, according to reports. Global Infrastructure Partners, JP Morgan Asset Management and consortia led by Carlyle Group and 3i are believed to have made the cut. BAA is being [...]
Alibaba bids to delist subsidiary February 21, 2012 Chinese e-commerce firm Alibaba has offered around $2.5bn to take its Hong Kong-listed Alibaba.com unit private, stressing the move was unrelated to any possible deal to buy back shares owned by Yahoo. Alibaba Group is offering investors HK$13.50 (£1.10) in cash per share to take Alibaba.com private, the same price as at the company’s IPO [...]
