Goldman exec to leave bank October 29, 2013 THE CO-HEAD of Goldman Sachs’ global commodities business, Magid Shenouda, is leaving the bank after 14 years, according to an internal memo seen by Reuters last night. London-based Shenouda, who has run the commodities business for the past two years alongside New York-based Greg Agran, joined the firm as an executive director in oil trading in [...]
India raises interest rates again October 29, 2013 INDIA’S central bank raised interest rates for the second time in as many months yesterday, warning that inflation is likely to remain elevated despite sluggish growth, and rolled back an emergency measure put in place in July to support the rupee. The Reserve Bank of India, led by Raghuram Rajan, lifted its policy repo rate [...]
Smartphones help drive video games market to $93bn in 2013 October 29, 2013 THE WORLDWIDE video games market will grow to $93bn (£58bn) this year, an increase of 18 per cent from 2012, led by the incredible growth in smartphone gaming. Mobile and smartphone gaming is set to grow 40 per cent this year, to $13.2bn, and will overtake PC games and handheld video games to become the [...]
Nokia showing signs of life just as selloff looms October 29, 2013 NOKIA’S once dominant hold on the mobile phone market continued to weaken in its third quarter ending 30 September, but optimism surrounding the Finnish firm’s future pushed its share price up nearly seven per cent yesterday to €5.36. Nokia’s revenue fell 22 per cent year-on-year to €5.6bn (£4.8bn), pushing the company back into the black [...]
Wolfson losses keep growing October 29, 2013 AUDIO semiconductor supplier Wolfson Microelectronics yesterday reported growing losses as declining customer sales hurt its bottom line. Revenues fell 17 per cent year-on-year to $43.9m (£27.3m) in the third quarter to 29 September while losses increased to $3m, from $1.6m last year. Wolfson’s customer list includes Samsung and BlackBerry.
Gaming wins for Playtech October 29, 2013 PLAYTECH, the gambling software company, showed solid numbers yesterday in its third quarter results to 30 September as its revenue grew 13 per cent to €90.6m (£77.5m). The company saw the strongest revenue growth from its sport gaming division which grew 31 per cent from the same period last year, while its bingo division declined [...]
Sky challenges online TV rivals with £5 bundle October 29, 2013 BSKYB will take on Netflix and Lovefilm with its latest living room offering, with 10 of its top premium channels for a pay-as-you-go monthly fee of just £4.99. This is the first time that Sky has offered access to its premium channels without signing up to a monthly contract and moves the company further into [...]
Motorola announces Project Ara to create build-your-own phone October 29, 2013 MOTOROLA Mobility, the Google-owned subsidiary, yesterday announced a partnership with Phonebloks to develop the company’s concept of a modular mobile phone into a reality. Under the codename Project Ara Motorola has been working for more than a year on mobile devices that can be upgraded, rather than replaced, when a new battery, camera or processor [...]
Rebekah Brooks phone hacking trial underway after jury delay October 29, 2013 THE JURY in the Rebekah Brooks phone hacking trial was sworn in yesterday, following a lengthy selection process and official warnings to avoid satirical takes on the case. Former News International chief executive Brooks will stand trial alongside seven others, including David Cameron’s former communications chief Andy Coulson, on charges that include illegally accessing voicemails and conspiracy [...]
LinkedIn posts strong results but gives conservative forecast October 29, 2013 LINKEDIN posted better-than-expected third quarter revenue of $393m (£245m) yesterday, a 56 per cent jump from a year ago. However, the business connections network issued a conservative revenue forecast for the fourth quarter and the rest of the fiscal year. Shares slid 1.3 per cent to $244 in after hours trading. The company said it [...]
