Electric results for Tesla as sales of Model S car hit record high February 19, 2014 ELECTRIC car firm Tesla yesterday revealed a gross profit of $156.59m (£93.68m) in the final quarter of last year, more than six times higher than the same period in 2012. Total revenues also doubled over the year, expanding from $306.32m in the final quarter of 2012 to $615.22m in the three months to December 2013. [...]
Google Capital launches with $40m US education investment February 19, 2014 GOOGLE took its latest investment arm public yesterday with the announcement of Google Capital and a $40m (£23.9m) investment in US learning analytics firm Renaissance Learning. The investment is the third for the search giants late stage investment vehicle, following investments in Survey Monkey and Lending Club last year that were not made public. “While [...]
£65,000 per month to live next to a car park? February 19, 2014 CRIES about how the rental market has gone crazy are audible from Primrose Hill to Hackney Wick these days but nothing has come close to the lavish expenditure of renting Audley House. This Mayfair mansion has just become the most expensive property to hit the rental market, at £65,000 per month. Luckily the Grade II [...]
HSBC earns its Breitling wings February 19, 2014 THE CAPITALIST wandered down to Canada Square yesterday where Breitling had set up its flight simulator and was challenging the local banks to battle each other over the next two days, for the chance to fly in the real thing with Breitling’s jet team in Dijon. “I’ve just had a go, it was great fun and [...]
Britons top list for most spent on music apps February 19, 2014 BOOMING demand for mobile apps helped global spend on digital entertainment jump by 30 per cent last year, according to new figures released yesterday. Consumers spent $57bn (£34bn) on digital games, apps and online movies in 2013, up from $44bn the previous year, research analysts IHS Global Insight and App Annie said. Mobile apps – [...]
ITV takes a controlling stake in Teen Wolf producer DiGa Vision February 19, 2014 BROADCASTER ITV has taken a controlling stake in DiGa Vision, producer of US television series Teen Wolf. ITV yesterday announced that it will make a cash payment for a 51 per cent stake in DiGa Vision with a put and call option to buy the remainder of the company in between three and six years. [...]
Monitise’s results fail to impress February 19, 2014 MOBILE payments company Monitise yesterday blamed a rise in operating costs as it unveiled a loss for the second half of the year. The company reported a loss before interest, tax, depreciation and amortisation of £10.2m for the six months to the end of December, compared with a £14.7m loss a year earlier. However, revenue [...]
App used to help buy a house as Barclays and Savills strike a deal February 19, 2014 AN APP has been used to help purchase a house for the first time, following a new partnership between Barclays and Savills Auctions. Barclays Pingit app was used by a homeowner to put a £23,000 deposit on a house in Mitcham, South London this month. The partnership will enable Savills Auctions customers to make a [...]
Ultra Electronics buys 3 Phoenix February 19, 2014 Defence and security company Ultra Electronics has purchased Virginia-based 3 Phoenix. The purchase price will consist of an initial cash consideration of $70m (£42m), alongside additional payments of up to $17m which will depend upon earnings growth over the following three years. The acquisition of 3 Phoenix is expected to boost Ultra Electronics’s earnings by [...]
Galliford Try sees record first half February 19, 2014 Building firm Galliford Try recorded an 18 per cent jump in both revenue and profit before tax in the second half of 2013, it said yesterday. Revenues jumped from £678.3m in the first six months of last year, up to £803.5m in the second half. Profits rose by almost £6m to £38.1m during the same period. [...]
