Dish swings to small loss on charge August 6, 2013 Dish Network, the second-largest US satellite TV company, posted a net loss of $11m in the second quarter as it took a $438m charge related to satellite acquisitions, and reported a decline in gross pay-TV subscribers. The company, founded by billionaire Charlie Ergen, said it took the charge on two of the three satellites it [...]
ICE profits up as it closes in on NYSE August 6, 2013 IntercontinentalExchange, which is in the process of buying NYSE Euronext for $8.2bn, reported a seven per cent rise in second quarter profit yesterday, helped by higher energy futures volumes. Net income attributable to the derivatives exchange and clearing house operator was $153.3m.
Earnings improve at Molson Coors August 6, 2013 Molson Coors Brewing reported a higher quarterly profit yesterday, largely because of the acquisition of the company’s Central Europe operations in June 2012. Coors, the maker of Coors Light and Blue Moon beers, said second-quarter net income rose to $278.4m (£181m), up from $105.1m a year earlier. Net sales rose to $1.18bn.
Grant Thornton probed over audit August 6, 2013 The Financial Reporting Council has launched an investigation into accountancy firm Grant Thornton’s audit work for Aim-listed soft drinks company Nichols over the last two years. The watchdog said it is examining whether GT was sufficiently independent when conducting the audits but gave no more details.
Liberty Media income rises August 6, 2013 The media group reported revenue of $940m (£612m) in the second quarter, up 12 per cent from the same period in 2012. Liberty Media separated from Starz, a media holding company, at the beginning of the year.
Conviviality hires female director August 6, 2013 The owner of Bargain Booze has added a second female executive to its board after announcing yesterday that it has appointed Julie Wirth as chief financial officer. The former finance boss of Musgrave Retail Partners, which operates the Budgens and Londis brands, will join Conviviality Retail’s board in November, replacing Peter Hodgson. The low-cost off [...]
IMF clashes with Germany over best path to economic recovery August 6, 2013 THE IMF yesterday warned Germany against being overly ambitious in consolidating its budget given risks to growth in Europe’s largest economy, which has not decoupled from the rest of the Eurozone. The International Monetary Fund, which kept its forecast for 0.3 per cent German growth this year, said it welcomed Berlin’s modest loosening of fiscal [...]
Another rise in new car sales as industry thrives August 6, 2013 THE AUTOMOTIVE industry registered another expansion in July, with 162,228 new cars registered in the UK, the 17th monthly rise in a row. The announcement, made by the Society of Motor Manufacturers and Traders (SMMT), caused the industry body to raise its forecast for new registrations in 2013 to 2.216m units. This means the SMMT’s [...]
Record low for Australian rates August 6, 2013 AUSTRALIA’S central bank cut its main cash rate by a quarter point to a record low of 2.5 per cent yesterday as it tries to prepare for life after the mining boom. This was the eighth move in an easing cycle that began back in November 2011 and takes rates below the depths hit during [...]
Italy recession nears the end August 6, 2013 ITALY’S economy shrank by less than expected in the second quarter of the year, adding to recent signs that the country’s longest post war recession could be bottoming out. GDP fell 0.2 per cent following a 0.6 per cent contraction in the first three months, and dropped two per cent on an annual basis, national [...]
