LONDONERS’ CHARM IS A SERVICE FOR WEALTHY October 27, 2011 WHERE THE wealth lies and, more importantly, how to persuade customers to part with it was the theme of the Wealth Summit run by monthly magazine Luxury Briefing in association with City A.M. Master of ceremonies was James Reatchlous, who bought Luxury Briefing from Princess Alexandra’s son James Ogilvy in 2009 before expanding into spin-offs [...]
Blacks’ losses mount as it eyes funding October 27, 2011 OUTDOOR goods specialist Blacks leisure yesterday announced a half-year loss of £16m and said it was examining its funding options in a bid to shore up the struggling firm. The company, which also trades under the Millets brand, is fighting for survival due to mounting losses and surging debts. The pre-tax loss for the six [...]
William Hill revenue growth slows but on target for year October 27, 2011 BETTING giant William Hill yesterday said revenue growth slowed in the third quarter as the company came up against tough comparatives with last year’s football World Cup. William Hill, which has 2,350 betting shops and takes more than a million bets a day, said net revenue grew by two per cent in the quarter and [...]
Clinton Cards profits nosedive as it negotiates a fresh credit deal October 27, 2011 CARD and gift retailer Clinton Cards posted an 83 per cent slump in full-year profit, hit by a combination of low consumer confidence and intense competition from supermarkets and the internet. The firm said it made an adjusted operating profit of £3.2m in the year to 31 July, down from £18.8m on revenues down 7.6 [...]
Virgin tanks despite jump in customers October 27, 2011 VIRGIN Media yesterday announced it has added more high-value customers but saw its shares tank as cashflow generation ran out of steam. It made net customer adds of 6,300, bouncing back from a traditionally difficult second quarter that saw 36,000 people left the service. Investors struggled to digest the results, with Virgin trading up slightly [...]
Hewlett-Packard flip-flops over PCs October 27, 2011 HEWLETT-PACKARD last night announced that it would keep its personal computer unit after all, following an extensive review of the high volume but low-margin business. The retention of the PC business marks another flip-flop in strategy as the company had said earlier that its preferred option was to spin out the business. The world’s largest [...]
Olympus faces fresh questions October 27, 2011 Pressure on scandal-hit camera-maker Olympus mounted yesterday after US patent records appeared to point to a possible conflict of interest in an investment in a cookware company. A venture capitalist who managed an Olympus fund that invested $225m (£158.4m) in the new enterprise was part-owner of a cookware patent which he transferred to the target [...]
Chipmakers across Asia hit hard by gloomy economic conditions October 27, 2011 ASIAN chipmakers, including the world’s top contract chipmaker TSMC, reported sharply worsened quarterly earnings and braced for another uncertain quarter as a weak global economy hit demand for computers. Yesterday, Taiwan’s TSMC reported a worse-than-expected 35 per cent decline in profit to £620m, its fourth straight quarterly drop. Hynix Semiconductor of South Korea, the world’s [...]
Nintendo set to report its first ever loss October 27, 2011 NINTENDO this week marked the 25th anniversary of the Legend of Zelda, one of its most iconic titles. But the fanfare gave way to crisis yesterday as the firm said it would slip to its first ever annual loss after issuing its second profit warning this year. The former undisputed heavyweight of the video games [...]
Sony buys out Ericsson JV October 27, 2011 SONY has called time on its European joint venture with Ericsson, taking full control of their telecoms business for €1.05bn (£920m). Sony Ericsson has struggled to gain traction in a fiercely competitive smartphone market dominated by the likes of Apple and Samsung. The business will now become part of Sony’s consumer division. Analysts expect much [...]
