Technicolor rejects new offer from JP Morgan June 11, 2012 French set-top box maker Technicolor rejected a revised offer from a JPMorgan Chase investment fund to buy a 30 per cent stake for 179m euros (£143m) and opted instead for an original, lower offer which it said was better structured. Technicolor, which is trying to pay down debt and enact a turnaround plan, said it [...]
Silicon Valley Bank to open London branch June 11, 2012 SVB Financial Group’s banking unit Silicon Valley Bank said it would open its first international branch in London, as the lender looks to tap into the technology startup sector in the United Kingdom. The international expansion, which comes at a time when other lenders are closing branches and facing contracting margins, highlights the bank’s strategy [...]
Laura Ashley continues to buck retail gloom June 11, 2012 Laura Ashley sales have risen again as the company continues to buck the gloom on the high street. The company, known for its distinctive prints, said like-for-like sale rose 5.4 per cent in the 18 weeks to 2 June compared with the same time a year earlier. Laura Ashley’s website saw sales increase by 18.8 [...]
Market euphoria over Spanish bank bailout fizzles June 11, 2012 Financial market euphoria over a European bailout for Spain’s debt-stricken banks faded quickly today as investors sounded the alarm over its impact on public debt and bondholders, and eyed the next risks in the euro zone’s debt crisis. EU and German officials said Spain faces supervision by international lenders after the deal to lend Madrid [...]
Samsung denies interest in Nokia June 11, 2012 Samsung Electronics has denied it was interested in acquiring Nokia, sending shares in the Finnish mobile phone company down two per cent. Nokia shares rose six per cent on speculation of a possible buyout offer. “Such reports are purely speculative and are not true,” the company said.
Severfield-Rowen issues profit warning June 11, 2012 Structural steelwork maker Severfield-Rowen warned that its full-year profit might be lower than market estimates as it expects cost overruns on two projects in the United Kingdom, sending its shares down 17 percent. The company, which has worked on access bridges at football club Arsenal’s Emirates Stadium, said last month it anticipated full-year results to [...]
Mouchel considering restructuring options June 11, 2012 Mouchel said it was still reviewing its restructuring options, which includes a possible equity fundraising, as the British infrastructure firm looks to rebound from a turbulent few years that have battered the business. The group, whose value has dramatically reduced after a 2011 dominated by contract blunders, management resignations, failed takeover bids, tough trading and [...]
Tesco sales fall June 11, 2012 Tesco, the world’s third-biggest retailer, has seen a drop in quarterly underlying sales in its main British market, showing its recovery plan following a shock profit warning in January is taking time to gain traction. The supermarket group, with over 6,000 stores in 14 countries, said consumer confidence was subdued across all of its markets, [...]
GSK extends deadline on Genome bid June 8, 2012 GlaxoSmithKline has extended its $2.6bn offer to buy long-time partner Human Genome Sciences until the end of June as it battles the US biotech company’s reluctant management. The price remains unchanged at $13 a share under the longer tender, which will now expire at 5 p.m. New York time on 29 June, Britain’s biggest drugmaker [...]
Biggest rise in car sales in two years June 8, 2012 A jump in private demand drove a 7.9 per cent rise in British new car sales in May compared to a year ago, the Society of Motor Manufacturers and Traders said on Friday, in a sign that consumers are regaining confidence. The overall percentage increase – which resulted in 162,288 new car registrations last month [...]
