Vodafone revenue returns to growth July 23, 2010 VODAFONE has said quarterly service revenues have risen for the first time since the global recession hit. The world’s largest mobile operator by revenue saw organic service revenue rise 1.1 per cent to £10.6bn in the April to June quarter – boosted by improvements in Germany, Britain and Turkey. The company said its focus in [...]
GM plots listing July 23, 2010 GENERAL Motors plans to file its registration for an initial public offering during the week of 16 August, just after the expected date for its second quarter results, according to US sources. A GM filing with the US Securities and Exchange Commission would be the first step towards an IPO to reduce the US government’s [...]
GM plots IPO to reduce government stake July 23, 2010 GENERAL Motors plans to file its registration for an initial public offering during the week of 16 August, just after the expected date for its second quarter results, according to US sources. A GM filing with the US Securities and Exchange Commission would be the first step towards an IPO to reduce the US government’s [...]
Close Brothers predicts “solid” year July 23, 2010 MERCHANT bank Close Brothers predicted it would report solid full-year results and that it had seen a slight, if fragile, improvement in bad debts among its customers. “The bad debt ratio improved marginally during the five months to 30 June 2010 although remains sensitive to the economic environment,” the company said in a trading statement [...]
Spanish banks ‘fail’ stress test July 23, 2010 SEVERAL of Spain’s 18 savings banks, including some of those which have been involved in recent mergers, have failed to pass tests to see how they would cope with worsened economic conditions, according to a Spanish newspaper. The tests on 91 European lenders use scenarios Including declines in the value of sovereign debt they hold. [...]
Retail sales edge up after World Cup boost July 22, 2010 RETAIL sales volumes received a World Cup boost in June after strong sales of electrical goods drove a faster-than-expected 0.7 per cent monthly rise, official data showed. The Office for National Statistics said sales volumes rose 1.3 per cent on the year, also faster than the one per cent gain expected after an upward revision [...]
Kingfisher sales drop offset by cost-cutting July 22, 2010 B&Q owner Kingfisher said it was on track to meet first-half profit expectations, with cost cutting and business improvement measures offsetting a dip in underlying sales. The firm, which also operates the Castorama and Brico Depot chains in France, said sales at stores open at least a year fell 0.8 per cent in the 10 [...]
Sports Direct profit surges by 50pc July 22, 2010 BRITAIN’S biggest sporting goods retailer Sports Direct hit forecasts with a 50 per cent rise in annual profit and predicted more growth in the 2010-11 year. “We believe we are operationally stronger than ever,” chief executive Dave Forsey said. “Accordingly, and assuming no significant deterioration in economic conditions, we are targeting underlying EBITDA (earnings before [...]
Autonomy sees revenues rise 7pc as market picks up July 22, 2010 BRITISH software firm Autonomy posted a seven per cent rise in earnings in the second quarter, after seeing a “gentle” improvement in the market, giving it confidence about the year ahead. Chief Executive Mike Lynch said that the group’s customers, which include multinationals and governments, were positive but still cautious. “Overall we face the rest [...]
Credit Suisse beats forecasts with £1bn profit July 22, 2010 SWISS bank Credit Suisse has reported a profit of 1.6bn Swiss francs (£1bn) for the three months to the end of June, beating expectations. The profit was returned despite a fall in revenue from investment banking of almost a third, to 4.1bn francs. Analysts had expected the bank to turn in net profit of 1.229bn [...]
