Cosalt warns shareholders may get nothing in business sell-off January 10, 2013 OIL services firm Cosalt, chaired by Carphone Warehouse founder David Ross, yesterday warned shareholders they would be unlikely to receive anything if its operating businesses were sold off. The firm confirmed it was in talks with third parties over the sale of both Cosalt Offshore and Cosalt Workwear, but warned “it is unlikely there would [...]
LCG rocked by calm markets January 10, 2013 LONDON Capital Group (LCG), owner of popular spread betting platform Capital Spreads, yesterday revealed plans to cut almost £5m in costs after revealing disappointing figures for 2012. Less market volatility last year meant a drop in the number of people taking a punt on the market, hitting LCG’s core spread betting business. The firm forecast [...]
SIG warns on construction market January 10, 2013 Building products giant SIG yesterday warned that construction markets would remain challenging this year, as it reported flat year on year revenue at £2.6bn. The firm said that 2012 underlying pre-tax profit would be no less than £82m – thanks to resilience in mainland Europe – up from £81.7m over the previous year.
Bunzl in £140m spending spree January 10, 2013 Bunzl yesterday snapped up four businesses spending an estimated £140m. In South America, the FTSE 100 company bought Chilean personal protection business Vicsa Safety and its South American subsidiaries, as well as Brazilian business Vicsa Brasil. In the US, Bunzl has acquired Schwarz Paper Company and Destiny Packaging.
Balfour’s first fund hits target January 10, 2013 Balfour Beatty’s foray into fund management got a boost yesterday as its maiden infrastructure fund reached its first close with £200m of commitments. Balfour, which has put £70m into the fund, said it will make investments in transport, energy and utilities in the UK, Europe and North America.
Rank hopes to cut its losses on Blue Square January 10, 2013 THE LOSSMAKING online sports bookie, Blue Square, has been put on the market by its owner, casino operator Rank. Rank, which bought Blue Square in 2003, said yesterday it would “undertake a review” of the business. Blue Square survived a similar review in 2009 but Rank is understood to be pursuing a sale this time, [...]
Nokia on road to recovery as Lumia sales finally pick up January 10, 2013 NOKIA showed early signs of putting its recent troubles behind it yesterday, as it announced that sales of its Lumia smartphones had been better than expected in the months leading up to Christmas. The Finnish company has posted repeated billion-dollar losses in recent months as it has failed to attract customers buying iPhones and Samsung [...]
Pace shrugs off failed Moto deal January 10, 2013 BRITISH TV box manufacturer Pace showed yesterday there is life after its failed takeover of Motorola Home, the set-top box unit owned by Google, as it revealed record revenues for the end of last year. The company said turnover for 2012 is expected to be four per cent up on the previous year, and it [...]
Bwin.party in German spat January 10, 2013 ONLINE gaming company Bwin.party hit out at German gambling proposals yesterday, claiming that there is not a level-playing field for domestic and foreign companies. “Whilst we welcome the move to regulate the online gaming market in Germany, this must be in a consistent and coherent manner in-line with EU law,” the company said, as it [...]
Shine taken off Tiffany’s holiday sales January 10, 2013 JEWELLERY firm Tiffany & Co failed to meet sales expectations for the holiday season with net worldwide growth of four per cent compared to last year, while same-store sales were flat, it said yesterday. The result was below the firm’s own forecasts, with sales at its flagship store on 5th Avenue even falling by two [...]
