Birds Eye will pay €805m to buy Findus ? July 19, 2010 UNILEVER has agreed to sell its Italian frozen foods unit Findus to Birds Eye Iglo, which is owned by private equity group Permira, for €805m (£687.9m). The sale represents the disposal of Unilever’s last remaining frozen foods business in Europe. Unilever said in a statement that about 650 factory and head office staff at Findus, [...]
Debenhams seals new debt package July 19, 2010 DEBENHAMS has sealed a new deal to refinance its debts, signing a new £650m agreement that will cut its interest bill. The deal includes a £250m loan and a £400m revolving credit facility expiring in October 2013, with an option to extend to October 2014. It expects interest costs net of fees to fall from [...]
Co-op launches apprentice plan July 19, 2010 THE Co-operative Group yesterday launched a £21m apprenticeship scheme. Under the plans 2,000 new apprenticeships for people aged under 25 will be set up. The apprentices will be given work experience at one of the group’s companies – which include banks and supermarkets – as well as the opportunity to gain a nationally-recognised qualification. The [...]
MBL to hike its dividend 25pc July 19, 2010 MBL Group, the Aim-listed home entertainment products group, has raised its dividend by a quarter after reporting a revenue surge. Revenue jumped by 35.7 per cent to £194.9m for the year to 31 March. Earnings per share rose by 17.5 per cent to 40.3p per share. The company is proposing a 25 per cent rise [...]
Google set to win in China July 19, 2010 APPLE may be taking the headlines in Europe with the launch of its iPhone 4, which despite well publicised antenna issues, continues to sell at a blistering pace. But the California-based firm is losing the biggest battle in mobile technology to arch-rival Google – which is to conquer China. Google’s Android software is muscling its [...]
Philips offsets good results with warning sales will slow July 19, 2010 Dutch electronics group Philips forecast sales growth would slow in the second half of this year given sluggish US and European economies and as television sales drop off after the World Cup. The outlook offset higher-than-expected quarterly results and brisk trade in markets like China and Brazil, helping push its shares down as much as [...]
CITY VIEWS: DO THE RECEPTION PROBLEMS WITH THE NEW IPHONE PUT YOU OFF? July 19, 2010 DUNCAN GOULD | LLOYD’S REGISTER “It’s fine as they have admitted their mistake. These things happen. I don’t have an iPhone myself, but my wife has one and I find it’s a very good phone. I’m not surprised that they have made a big deal out of correcting the problem, as they are very publicity [...]
Eurotunnel in red in spite of surge in sales July 19, 2010 Cross channel rail operator Groupe Eurotunnel says it will not post a profit this year unless it receives further insurance payouts for a tunnel blaze in 2008. The embattled firm made a first-half loss of €45m (£38m) despite sales rising 22 per cent to €331m. It booked €33m in insurance indemnities last year but said [...]
NS&I axes saving certificates July 19, 2010 NATIONAL Savings and Investments (NS&I) delivered a blow to consumers’ purses yesterday as it axed its two inflation-beating savings products, citing particularly strong levels of demand. NS&I said demand for the fixed interest and index-linked savings certificates had far outstripped its expectations and that its decision to pull the products was designed to prevent it [...]
Hasbro falls short of last summer’s strong sales July 19, 2010 TOY maker Hasbro said yesterday it had suffered a sharper-than-expected quarterly sales decline, after failing to repeat the success of last year’s tie-ins to Hollywood blockbusters like GI Joe. But the firm, which owns brands from Monopoly to Playskool, beat analysts’ earnings expectations for the second quarter by cutting costs, including advertising. Net income rose [...]
