Globo chief touts success of mobile work software firm September 23, 2013 GLOBO’S chief executive declared yesterday that “the BlackBerry days are gone” on the announcement that Globo’s profits were up 74 per cent at €14.4m (£12.1m), while revenues jumped 52 per cent to €32m. The company’s growth was driven by Globo’s GO!Enterprise software that gives users access to work emails and intranets. “Globo’s unique positioning in [...]
Merlin splashes out on Istanbul aquarium September 23, 2013 LEISURE giant Merlin Entertainments yesterday snapped up an aquarium in Turkey’s largest city, Istanbul, from Netherlands-based Global Aquariums BV. Merlin, which owns UK attractions such as Alton Towers, Thorpe Park, Madame Tussauds and Legoland, is also rumoured to be planning a £3.5bn London flotation.
IATA cuts profit forecasts for global airlines September 23, 2013 GLOBAL airlines cut their 2013 industry profit forecast by eight per cent to $11.7bn yesterday, citing weaker growth in parts of Asia and a worsening slowdown in freight demand. The International Air Transport Association, which represents some 200 carriers, said the $1bn downgrade from its previous forecast for the whole industry in June also reflected [...]
New FTSE100 stocks see red as first trading day incurs losses September 23, 2013 SPORTS Direct and Coca Cola Hellenic both saw losses in their first day of trading after joining the index of 100 top shares yesterday. The sports retailer began the day positively but rapidly plunged into the red, ending its debut on the FTSE100 down 1.07 per cent, a bigger drop than the overall 0.59 per [...]
Bank of America prepares for court case over home loan row September 23, 2013 BANK of America will this week face claims Countrywide, which it owns, defrauded government mortgage underwriters from 2007. It is alleged Countrywide approved deficient home loans in a process called “Hustle”, before selling those loans on to Fannie Mae and Freddie Mac. When the loans defaulted, those state-backed entities lost more than $1bn (£623m), with [...]
US Airways and American Airlines extend merger pact into 2014 September 23, 2013 US AIRWAYS Group and American Airlines said yesterday they had extended their merger agreement as they fight a US government lawsuit seeking to block the combination, which would form the world’s largest airline. The companies said they extended the date by which either airline could terminate the merger pact to either 18 January 2014, or [...]
Air France-KLM board to meet on Alitalia stake September 23, 2013 AIR FRANCE-KLM became the subject of a tug of war over its role in crisis-torn Italian partner Alitalia yesterday as Rome invited it to double its stake, while shareholders and unions look ready to resist any new lifeline. The board of Air France-KLM, which owns 25 per cent of Alitalia after helping it out of [...]
BayernLB chief exec Hausler to step down September 23, 2013 GERMAN state-owned lender BayernLB said confirmed yesterday that chief executive Gerd Hausler will step down at the end of the year, following a restructuring of the bank. Hausler, a former Bundesbank central council member who subsequently held positions with Dresdner Bank and the International Monetary Fund, took up his position in April 2010. It is [...]
Gleacher Shacklock revenues defy collapse of giant BAE deal September 23, 2013 CORPORATE finance advice group Gleacher Shacklock is set to report strong revenues growth for 2012, it emerged yesterday. The partnership ran into trouble late last year as the $18.4bn (£11.5bn) proposed merger of defence firms BAE System and EADS fell apart. Revenues at the advisory group edged up £66,000 to £15m, according to accounts seen [...]
Austrian insurer Uniqa ups free float with €750m share offer September 23, 2013 AUSTRIAN insurer Uniqa launched a share sale yesterday that aims to raise around €750m for expansion abroad and boost its free float to as much as 36.7 per cent. Its re-IPO – so called because it will raise the free float from just seven per cent – is set be the biggest deal on the [...]
