Peugeot in talks to sell a stake to its Chinese partner Dongfeng October 9, 2013 PSA PEUGEOT Citroen yesterday confirmed it is in talks over potential new overseas partnerships, after reports that Chinese group Dongfeng Motor may buy a 30 per cent stake in the troubled French car manufacturer. The discussions also cover new funding for the firm’s development, a spokesman said. “Peugeot confirms it is studying new industrial and [...]
Our panel more hawkish after strong signals October 9, 2013 WITH recent indicators suggesting that the UK’s economic growth has firmed in the third quarter, City A.M’s shadow monetary policy committee maintains that no further loosening is necessary Two members, Allister Heath and Simon Ward, are now in favour of hiking bank rate by 0.5 per cent and 0.25 per cent respectively, and all support [...]
AT&T chief fuels rumours of a European move October 9, 2013 AT&T has broadcast its interest in a European acquisition, raising hopes that the firm could make a play for telecoms giant Vodafone. Speaking at an industry conference on Tuesday, chief executive Randall Stephenson said that mobile services in Europe are, “a huge opportunity for somebody”. Stephenson has previously hinted that he might look to Europe [...]
Samsung launches world’s first smartphone with curved screen October 9, 2013 SAMSUNG Electronics yesterday launched a variant of the popular Galaxy Note smartphone with a curved display, moving a step closer to introducing wearable devices with flexible screens. The Galaxy Round’s 5.7-inch display has a slight horizontal curve and weighs less than the Galaxy Note 3, allowing a more comfortable grip than other flat-screen models on [...]
IPC writedown pushes group earnings lower October 9, 2013 MAGAZINE and digital publisher IPC Media reported annual pre-tax profits down 75 per cent to £11.4m in 2012, following a one-off writedown of £24.8m on the company’s fixed assets. Even before the company’s impairment charge, operating profit still fell 24 per cent to £28.2m. Revenues for the UK’s biggest consumer magazine publisher, which is owned [...]
Murdoch faces shareholder crunch vote on chairman role October 9, 2013 PROXY advisory group ISS has urged Twenty-First Century Fox shareholders to vote against the reelection of chairman Rupert Murdoch and some other board members at a shareholders meeting this month, criticising the company’s adoption of a poison pill. News Corp in May put in place a poison pill provision for one year after the splitting [...]
Blur slumps after boss sells shares October 9, 2013 Online services exchange Blur Group saw its shares plummet seven per cent yesterday as chief executive Philip Letts announced he would sell 900,000 shares in the company. Richard Bourne-Arton, a non-executive director of Blur Group, is also planning to sell 95,000 shares. The group said the main purpose of the transactions was to increase institutional [...]
Arriva chief joins Ladbrokes board October 9, 2013 Ladbrokes yesterday announced the appointment of Arriva chief executive David Martin as a non executive director. Martin, who will join the board on 31 October, took over as the chief executive of Europe’s largest transport provider Arriva in 2006. Chairman Peter Erskine said, “His extensive management experience, notably of international operations, is particularly relevant at [...]
Hewlett Packard head is upbeat October 9, 2013 Hewlett Packard chief executive Meg Whitman expects revenue to stabilize in 2014 with “pockets of growth” before the business accelerates again in 2015, sending the stock up as much as 9.5 per cent yesterday. HP’s shares were up about 8.6 per cent at $22.53 yesterday. That is still down from $25.38 in mid-August, just before [...]
Vedanta posts a rise in zinc and oil production October 9, 2013 OIL AND mining conglomerate Vedanta Resources yesterday reported a rise in oil, gas and zinc production in the second quarter and said it expected to resume mining iron ore in the southern Indian state of Karnataka shortly. But shares in the FTSE 100 group tumbled 4.67 per cent after Morgan Stanley downgraded its rating on [...]
