FirstGroup defends its turnaround strategies January 23, 2014 FIRSTGROUP, the bus and rail company fending off an activist investor’s break-up calls, has reassured shareholders that its turnaround plans are on course. The company told investors yesterday that it aims to increase its revenues faster than the broader growth in the economy by bidding for new work and investing in services. This goal excludes [...]
Nokia’s handset sales dip ahead of Microsoft sale January 23, 2014 NOKIA’S handset division slumped during the fourth quarter with sales of €2.6bn (£2.1bn), down five per cent on the previous quarter, ahead of the division’s upcoming sale to Microsoft during the first quarter of 2014. The news sent shares down more than 10 per cent in Helsinki yesterday. During a call with analysts the company [...]
Ex-Credit Suisse banker Kilsby named as new Shire chairman January 23, 2014 FORMER Credit Suisse banker Susan Kilsby will become the second female chairman of a FTSE 100 company, after drug manufacturer Shire unveiled her appointment yesterday. Kilsby, who is currently chairman of Shire’s audit, compliance and risk committee, will take over from Matthew Emmens, effective from 29 April. She worked at the Swiss investment bank for [...]
McDonald’s revenues turn sour January 23, 2014 CONSUMERS lost their appetite for McDonald’s hamburgers and fries in the fourth quarter as the fast food giant revealed weaker-than-expected sales at restaurants open more than a year. Global like-for-like sales fell by 0.1 per cent in the three months to the end of December, the group said yesterday, as fewer people passed through its [...]
TfL staff volunteering as Tube ambassadors during strikes January 23, 2014 TRANSPORT for London (TfL) is drafting in trained volunteers from its back offices to man the stations as “ambassadors” during next month’s strikes. Around 1,000 TfL staff, from accountants to former drivers, have offered to lend a hand to passengers during the RMT walkouts on 4-5 and 11-12 February. Volunteers working beyond the ticket barriers, [...]
Lenovo buys IBM server division January 23, 2014 LENOVO, the world’s largest PC maker, yesterday agreed to buy IBM’s low-end server business for $2.3bn (£1.38bn), the biggest ever tech acquisition by a Chinese company. Lenovo said the deal, which was reported to have stalled during talks last year due to differences in pricing, will allow it to diversify away from its shrinking PC [...]
Icahn buys further $500m Apple shares taking his stake to $3.6bn January 23, 2014 ACTIVIST investor Carl Icahn picked up another $500m (£300.5m) of Apple shares yesterday, taking the billionaire’s total investment in the iPhone maker to $3.6bn. Icahn, who repeatedly has called Apple a “no brainer” even as he wages a campaign to get it to return more cash to shareholders, tweeted his latest move just a day [...]
Boardroom standards scrutiny January 23, 2014 Board evaluations – used by companies to improve their practices in the boardroom – need to be improved according to Helen Pitcher, an expert on corporate governance. Pitcher yesterday said that she was pushing for improved standards on board evaluations with the publication of a Code of Practice. “At present these evaluations vary significantly,” says [...]
Chemring profits fall 25 per cent January 23, 2014 British defence contractor Chemring has reported a 25.2 per cent fall in full-year profit, hit by the US federal government shutdown in October.The company said pre-tax profit on an underlying basis fell to £52.4m, compared to £70.1m the previous year. The company, which manufactures ejector seats for fighter jets, said the shutdown had delayed product [...]
Petra remains on track for year January 23, 2014 FTSE 250-listed Petra Diamonds yesterday reported a 31 per cent rise in production for the six months to 31 December 2013 and said it remains “firmly on track” to meet full-year guidance of three million carats. Revenue rose 19 per cent to $185.5m (£111.2m), with strong second-half revenue expected due to the timing of the [...]
