Virgin Media hits forecasts April 20, 2011 Cable operator Virgin Media said it added 20,200 net new cable customers in the first quarter, drawn by fast broadband speeds and pay-TV, helping it to post solid results in line with forecasts. Virgin Media, which competes with pay-TV company BSkyB and telecoms and broadband providers such as BT, said its customers were also paying [...]
Apple sues Samsung over “slavishly” copying iPhone April 19, 2011 Apple Inc has sued Samsung Electronics claiming the South Korean firm’s Galaxy line of mobile phones and tablets “slavishly” copies the iPhone and iPad, according to court papers, a move analysts say is aimed at keeping its close rivals at bay. Apple is one participant in a web of litigation among phone makers and software [...]
Hargreaves Lansdown sales up despite weak equities April 19, 2011 Hargreaves Lansdown said its third-quarter revenue rose 36 percent on year, despite a recent slump in global equities, and the wealth manager and stockbroker saw opportunities in the new tax year. The Bristol-based company, which provides management products and services to private investors in the UK, said the value of its total assets under administration [...]
Burberry sales jump April 19, 2011 Luxury group Burberry said a strong finish to the year delivered a 33 per cent rise in underlying fourth-quarter sales and would result in full-year profit at the top end of expectations. The 155-year-old maker of raincoats and handbags said on Tuesday it made £390m of revenues in the three months ended March, excluding its [...]
Tesco profit up thanks to Asian markets April 19, 2011 Tesco said it would step up innovation in a bid to improve its performance in a tough UK market, as it met forecasts with a rise in annual profit driven by Asian markets. New chief executive Phil Clarke, who took over from Terry Leahy last month, said on he was setting six objectives for the [...]
Nestle in deal for stake in China food firm April 18, 2011 Nestle, the world’s biggest food company, agreed to take a 60 per cent stake in China’s Yinlu Foods Group for an undisclosed price, becoming the latest multinational to target China’s fast-growing food and beverage sector. Family-owned Yinlu had sales of about 750 million Swiss francs (£515.9m ) in 2010, Nestle said in a statement on [...]
Philips spins off TV arm as profit disappoints April 18, 2011 Dutch consumer electronics giant Philips Electronics said it would divest its struggling television business as first-quarter net profit came in below expectations. Philips is transferring its TV business to a joint venture with its partner, global monitor maker TPV. “Finding a solution for our television business was our top priority and we strongly believe that [...]
Jupiter boosted by international clients April 18, 2011 Jupiter Fund Management saw clients add £333m of new money in its first quarter, driven by demand for its fund of fund range and growth in inflows from international investors. The asset manager said on Monday assets rose to £24.5bn in the quarter to 31 March, boosted by inflows into its mutual funds and its [...]
Moody’s cuts Irish banks to junk April 18, 2011 Moody’s cut the long-term bank deposit ratings of Ireland’s government-guaranteed banks by two notches on following a sovereign downgrade last week, meaning that all the lenders are now classified as junk. The rating agency cut Ireland’s rating to Baa1, the verge of junk status, on Friday and kept its outlook on negative amid spluttering economic [...]
Groupon close to choosing IPO advisors April 15, 2011 Groupon is likely to appoint Goldman Sachs and Morgan Stanley to lead an initial public offering this year. The two investment banks are to be appointed as two lead underwriters for the IPO and could raise up to $1bn (£612bn) for the company, Reuters reported, quoting sources familiar with the matter. Sources close to Morgan [...]
