Reed Elsevier to rebrand as RELX starting in July February 26, 2015 FTSE 100 publisher Reed Elsevier yesterday announced dramatic plans to rename itself RELX and simplify its structure into one business unit, making it more transparent for investors. Reed, Europe’s largest media group, has evolved in recent years by putting a greater focus on its fast-growing risk and events units. Its transformation has sent its shares [...]
Monitise in two multi-million dollar contracts February 26, 2015 STRUGGLING mobile money business Monitise offered a glimmer of hope to investors yesterday, announcing “two major multi-year contract wins with multi-million dollar aggregate value”. The firm, which placed itself up for sale as part of a strategic review last month, did not reveal who the deals are with, saying only that one was “with a [...]
Sears’ losses widen for 11th straight quarter February 26, 2015 US DEPARTMENT store chain Sears yesterday reported losses in the fourth quarter. Pre-tax losses grew for the 11th consecutive quarter, and the company has been cutting costs in recent years. Revenue fell to $8.1bn (£5.2bn) from $10.6bn during the same period the year before. Overall the company recorded a pre-tax loss of $222m, up from [...]
Playtech share price soars to all-time high as revenue and profits hit new record February 26, 2015 Gambling software firm Playtech posted record annual revenue and profits yesterday on the back of its acquisitions and partnerships, pushing its shares to an all-time high. The company reported a 24 per cent increase in revenue to €457m (£332.4m) and an adjusted profit up 28 per cent to €194m during the year to 31 December. [...]
The Guardian indulges in a bit of tax planning February 26, 2015 It's tough being a newspaper – we should know. On one hand you need to stay relevant in the age of 24-hour news and Twitter and all the rest of it. On the other you need to find enough cash to keep going. All while publicly displaying your work every day, and facing the possible [...]
Chief execs on Youtube: Two different takes February 26, 2015 ROBERT Walters is the chief executive of Robert Walters Plc, the London-listed global recruitment giant. To accompany his firm’s latest set of results yesterday, Walters took to YouTube, revealing himself to be the very model of a typical boss. He’s suited, booted and speaks direct to camera. No gimmicks, no whizzy digitals – just good, old-fashioned [...]
Three flat ahead of O2 takeover February 26, 2015 BRITAIN’S smallest mobile network operator Three yesterday posted flat revenue growth of just one per cent to £2.05bn for 2014. The network, owned by Hong Kong investment group Hutchison Whampoa, said its total active customer base rose six per cent to 8.41m as it added 478,000 customers during the year. Hutchison Whampoa is currently preparing [...]
Lack of supply hitting housing affordability February 26, 2015 HOUSING is still becoming more unaffordable, as demand continues to outstrip supply. The number of houses built in January declined compared with January last year, according to figures released today by the National House Building Council (NHBC). January saw the completion of 11,390 homes, compared to 11,645 in January 2014. However, for the period November to [...]
Spain’s growth starting to gain momentum February 26, 2015 Spain’s economy grew 0.7 per cent in the final three months of last year, in line with previous official estimates. The GDP figure marks an improvement from 0.5 per cent rate for the three months to September, according to figures released by the Spanish Statistical Office (INE). It is Spain’s strongest growth since it entered [...]
German jobless rate at record low in February February 26, 2015 UNEMPLOYMENT in Germany declined by 20,000 to 2.81m in February, official figures show. The unemployment rate remained unchanged at 6.5 per cent – the lowest since the records began in the 1990s, data from Germany’s Federal Labour Office yesterday revealed. The positive data come after figures showed the German economy – the largest in the [...]
