France Telecom, TDC kill merger June 3, 2010 France Telecom and Danish telecom group TDC yesterday abaondoned a proposed deal to merge their Swiss operations to take on market leader Swisscom after competition regulators rejected it as bad for consumers. In April, Swiss regulators blocked the proposed deal on the grounds that it would create a two-player market in which the companies would [...]
Cabin crew strike costs BA £7m a day June 3, 2010 BRITISH AIRWAYS (BA) has lost roughly £98m during the last fortnight as a result of the cabin crew strike, which has seen the airline’s passenger capacity fall six per cent. BA flew 392,000 less customers last month – a 14.2 per cent drop from last year as a result of the strike. The airline faced [...]
Sportingbet eyes a US settlement June 3, 2010 ONLINE gaming firm Sportingbet is hoping to agree a settlement with the US authorities before the end of the year to protect it from the threat of prosecution, chief executive Andrew McIver said yesterday. “I would hope for something in this current year. It’s definitely progressing and every day we move closer and closer,” McIver [...]
STMicro bullish on 2010 demand June 3, 2010 DIVERSIFIED semiconductor maker STMicroelectronics is enjoying strong demand for the third quarter and a normal build-up of orders for the fourth quarter, its chief executive said yesterday. The world’s fifth-largest chipmaker also said during a company presentation to investors in London it was on track to meet its target of 6-12 per cent sales growth [...]
AIR PARTNER’S TRADING TAKES OFF June 3, 2010 PRIVATE aircraft broker Air Partner, said yesterday it expects like-for-like profits to be ahead of company expectations this year. The group said the forecast, excluding associated re-structuring costs at its now closed unit the Private Jet Operating Company, were a result of improved trading conditions which were hit hard by the recession.
B&Q looks to World Cup to kick-off sales June 3, 2010 B&Q owner Kingfisher said yesterday it was pinning its hopes on the World Cup to fuel a sales rise after a first quarter blighted by poor weather. The group said it had almost sold out of a garden gnome dressed in the England team kit ahead of the tournament and was also selling wheelbarrows and [...]
Real Good Food makes a solid start June 3, 2010 SUGAR and bakery ingredients company Real Good Food’s results for the first four months of the year were above expectations, the company said yesterday. Chairman Pieter Totté said the group’s performance had been fuelled by Renshaws, its baking ingredients business. Meanwhile expansion at Hayden’s, its bakery products business, was also contributing. He said: “I am [...]
Young’s sees cask ale refresh profits June 3, 2010 YOUNG’S reported a better-than-expected full-year pre-tax profit yesterday – fuelled by cask ale and food sales. The company, which operates 219 pubs, saw pre-tax profit of £19.4m in the year to 29 March. In the first eight weeks of the current year, Young’s said comparable sales at its 120 managed pubs, which are directly operated [...]
ANALYST VIEWS:?WHAT DO YOU MAKE OF YOUNG’S RESULTS IN THE STRUGGLING PUB SECTOR? June 3, 2010 MARK BRUMBY | LANGTON CAPITAL “The brewery operation Wells & Young has once again turned in a ‘solid’ performance and the tenanted operation has been ‘comparatively strong’ and produced like-for-like revenue growth with volumes little changed. Young’s is well-positioned to meet the challenges that the trade will face during 2010 and beyond.” PAUL HICKMAN | [...]
Matthey hits full-year goal June 3, 2010 JOHNSON Matthey, the world’s largest supplier of catalytic converters, expects good progress in the first half of 2010/11 while considerable short-term uncertainties about the global economy remained. Underlying pre-tax profit declined five per cent to £254.1m in the year to the end of March as vehicle production was slashed amid the global recession. Ten analysts [...]
