Berlusconi backs government at rally against his tax conviction August 4, 2013 THOUSANDS of supporters of Silvio Berlusconi protested in Rome yesterday against a tax fraud conviction that has rocked Italy’s fragile coalition, but the centre-right leader said the government must continue. Addressing the 2,000-strong crowd, a subdued Berlusconi again bitterly attacked what he calls leftist judges and insisted he was innocent, but said he would continue [...]
Spreadex sees rising earnings and revenues August 4, 2013 BETTING group Spreadex has boosted its revenues and profits in the year to May with a series of acquisitions and new online services. Spreadex, set up 13 years ago by former City trader Jonathan Hufford, posted a 24 per cent rise in profits after tax to £11m in the year to the end of May. [...]
Legal & General chief pledges to invest more in infrastructure August 4, 2013 LEGAL & General has earmarked billions of pounds to invest in British infrastructure over the next decade, in a boost for the government as it tries to sign up private sector funders for big construction projects. The insurance and pensions giant confirmed yesterday that it hopes to put as much as £15bn of its £441bn [...]
Egg firm grows profits in spite of rising costs August 4, 2013 BRITAIN’S biggest egg supplier has brushed off soaring chicken feed costs to post a 30 per cent rise in pre-tax profits to £14.8m. Noble Foods, the parent company of Happy Egg and the Gu dessert range, said revenues were flat at £594.6m in the year to the end of September 2012. The firm said free-range [...]
Turnover at Evans Cycles moves up a gear after a push online August 4, 2013 SALES at bicycle specialist Evans Cycles jumped 11 per cent in the year to November, helped by an improved website and the tailwinds of Britain’s cycling success during the Olympics. Turnover rose from £94.3m to £104.9m, though pre-tax profits at the group fell from £893,000 to £269,000, which the firm said was due to spending [...]
George Clooney slams hedge fund activist August 4, 2013 ACTOR George Clooney has criticised the growing influence of hedge fund head Daniel Loeb, a big Sony shareholder who wants the conglomerate to spin off part of its entertainment division. Clooney told film trade publication Deadline Hollywood that Loeb, was “a hedge fund guy who describes himself as an activist but who knows nothing about [...]
Obama reverses import ban on Apple products August 4, 2013 THE Obama administration has overturned a US trade panel’s ban on the sale of some older iPhones and iPads, reversing a ruling that had favoured Samsung Electronics over Apple in their long-running patent battles. The US International Trade Commission in June banned the import or sale of the iPhone 4, iPhone 3GS, iPad 3G and [...]
Boston Globe sold to owner of Red Sox baseball team for $70m August 4, 2013 THE New York Times has agreed to sell The Boston Globe to the principal owner of the Boston Red Sox baseball team, John W Henry, for $70m (£45.8m) in cash, ending its 20-year ownership of the paper. The transaction includes the Worcester Telegram & Gazette, related digital properties of both papers, and a direct mail [...]
Newsweek changes hands again as IBT Media adds it to portfolio August 4, 2013 IBT Media, a digital-only media company, is to acquire Newsweek from IAC/InterActive, which took over the venerable title in 2010, stopped its print edition and relaunched it as a digital-only magazine earlier this year. IBT Media said the deal did not include the online news and commentary site The Daily Beast, which IAC had acquired [...]
City Moves for 5 August 2013 | Who’s switching jobs August 4, 2013 Pramerica Real Estate Investors The real estate investment management business has announced the appointment of Eric Adler as chief executive. Adler is currently chief investment officer at Pramerica, having joined the company in 2010 as head of European operations. He was previously as Tishman Speyer, where he co-directed its European activities, and was a member [...]
