How has imagination’s investment case changed after today? December 12, 2012 JAMES GOODMAN INVESTEC We are initially encouraged by today, with a very strong royalty unit performance. However, we calculate a 15 per cent decline in average rates which suggests full year royalty revenue unlikely to move up materially. ‘Hold’. NICK JAMES NUMIS SECURITIES The investment and losses at Pure are likely to drive downgrades to [...]
UK leads global internet TV use December 12, 2012 BRITAIN has become a nation of online shoppers and internet television addicts, dedicating more time and money to those activities than any other nation. Research released today from Ofcom, the communications regulator, will reveal that UK citizens spend more than £1,000 a year online – hundreds more than other countries – and that a greater proportion [...]
British Bankers’ Association mulls merger in hunt for cash December 12, 2012 SUPERMARKET own-label ranges, package holidays and … City lobbying groups? Punters’ desire for value-for-money appears to be stretching further than ever in gloomy economic times. That’s the conundrum confronting my fellow City A.M. columnist Anthony Browne, recently installed as chief executive of the British Bankers’ Association (BBA). Relinquishing its role in supervising the Libor-setting process [...]
Poor lessons in finance costing taxpayer £3bn December 12, 2012 GOVERNMENT delays in getting financial education on the national curriculum is a massive drain on taxpayer resources, according to fresh research published today. Poor financial education costs the UK government £3.4bn a year, according to the report published today by the Centre for Economics and Business Research (CEBR) for MoneySavingExpert.com. The study finds there are [...]
Zombie firms taking a bite out of earnings at Begbies Traynor December 12, 2012 AN ARMY of “zombie companies” being kept afloat by record low interest rates have hit business recovery group Begbies Traynor’s earnings in the last six months. The firm’s revenues fell 11 per cent to £26.1m in the half-year to the end of October, while pre-tax profits dropped from £3.4m a year ago to £2m. A [...]
Hong Kong to crack down on poor share issue prospectuses December 12, 2012 BANKS will face tougher penalties if they put incorrect information in the prospectuses of firms planning to list, under new proposals from the Hong Kong authorities unveiled yesterday. Under new rules “sponsor firms have civil and criminal liability for defective prospectuses,” the Securities and Futures Commission said, concluding its consultation. But the sponsoring bank will [...]
Berkshire Hathaway in $1.2bn share buyback December 12, 2012 BERKSHIRE Hathaway, the company controlled by billionaire financier Warren Buffett yesterday said it paid $1.2bn (£743m) to repurchase 9,200 Class A shares from the estate of a longtime shareholder. The move comes after Berkshire hit historically low valuations last year.
How to give December 12, 2012 online at: www.cityam.com/appeal by text CITY13 and amount (£5 or £10 only) to 70070 Text donations may not work from company mobile phones as these often block premium messages. credit or debit card by phone to Opportunity International (01865 725 304) If donations exceed our programme needs in Africa, they will be deployed elsewhere. TWEET [...]
Help give someone Opportunity December 12, 2012 SANDRA and her family are among the many that were helped by the money raised from the appeal last year. Full Name: Sandra Clara Tomas Gender: Female City, Country: Tete, Mozambique Children: four aged five to 21 Sandra Clara lives in Tete, the north-western province of Mozambique, with her four children aged five to 21. [...]
Travel caterer cooks up strong sales rise December 12, 2012 SSP, the airport and railway station caterer, yesterday reported a 3.2 per cent rise in annual sales, boosted by its expansion in Asia and the US. The group, which runs more than 2,100 travel outlets for brands such as Marks & Spencer and Starbucks, said operating profit jumped 23.7 per cent to £61.5m on sales [...]
