Mariner Energy’s oil rig explodes in Gulf of Mexico September 2, 2010 AN OIL and gas platform operated by Mariner Energy burst into flames yesterday and unleashed a mile-long oil sheen into the Gulf of Mexico, just as engineers on a nearby platform were resolving the worst offshore oil spill in history. All 13 crew members were rescued with no injuries from the ocean near the burning [...]
ANALYST VIEWS: WHAT DO YOU THINK OF GO-AHEAD’S RESULTS? September 2, 2010 JOHN LAWSON | INVESTEC What it has done in a challenging market is encouraging. Its focus on maintaining the dividend is a very important sign of its confidence and commitment. Right now nobody knows what the government is going to do in order to cut spending, but it seems for Go-Ahead it might not be [...]
Pernod hit by weak trading in Eurozone September 2, 2010 FRENCH spirits giant Pernod Ricard said it expected a good year as emerging markets fuelled sales rises – but the upbeat statement failed to impress investors yesterday. Pernod posted net profit of €951m (£791.6m) for the year to the end of June, up one per cent on a year earlier. But shares in the world’s [...]
CARLUCCIO’S SOLD IN £90m DUBAI DEAL September 2, 2010 Italian restaurant chain Carluccio’s yesterday agreed to a £90.3m takeover by Middle Eastern retail giant Landmark Group. Dubai-headquartered Landmark has offered 142p a share in cash for Carluccio’s, which has 47 restaurants and food shops in the UK. Landmark plans to keep on Carluccio’s existing management team, including chief executive Simon Kossoff and chairman Stephen [...]
DSG nets a World Cup boost September 2, 2010 DSG International said yesterday its total group sales were up three per cent after a boost from World Cup TV purchases and the success of the iPad. In an update on trading for the 12 weeks to 24 July the company, which owns Currys and PC World, said its online sales had surged by 12 [...]
CITY VIEWS: HAS APPLE SPREAD ITSELF TOO THIN BY MOVING INTO TV PRODUCTS September 2, 2010 BARTOSZ WOJTOWICZ | NOMURA “I’m perfectly happy with Apple expanding, and think they get it right a lot of the time. I would love to have an iPhone, but my mobile phone network won’t offer them for another three months, so I’m stuck with my old phone.” JIMMY SMALES | COMMONWEALTH BANK OF AUSTRALIA “I [...]
Restaurant Group profit surges September 2, 2010 The Restaurant Group – which owns Garfunkel’s, Chiquito, Frankie & Benny’s – yesterday reported an upturn in profit despite the ash cloud crisis which hit its airport concessions. It saw its pre-tax profit rise 13 per cent to £24.6m in the six months to July. The company raised its interim dividend ten per cent to [...]
Zara launches online stores September 2, 2010 Zara yesterday launched its first online stores. The clothes chain will sell garments at identical prices to stores, charging £3.95 for home delivery. Ordered items can be picked up free of charge at shops. The label’s owner Inditex, the world’s biggest clothing retailer by sales, has launched Zara online in Britain, Spain, Portugal, France, Italy [...]
Avis raises its bid in Dollar Thrifty battle September 2, 2010 CAR RENTAL company Avis Budget Group raised its bid for Dollar Thrifty Automotive Group three per cent to $1.35bn (£877m), as it looks to wrest the company from rival Hertz Global Holdings. Avis raised the cash portion of its bid by $1.50 to $40.75 a share on yesterday. The stock portion of the deal remains [...]
Cold winter boosts Gazprom September 2, 2010 RUSSIA’S Gazprom, the world’s biggest gas producer, beat forecasts for first-quarter sales and profit, as a surge in domestic revenues offset a sharp drop in prices to European customers. Gazprom supplies a quarter of the European Union’s gas needs, but economic weakness has slashed demand, and some customers there have secured lower prices on long-term [...]
