Havas sees strong revenue growth October 27, 2011 Paris-based advertising company Havas yesterday reported its strongest organic revenue growth in three years, up more than seven per cent. The group’s third quarter revenue rose five per cent to £339m, with a decline in its home market the only blot in its copybook. Havas, which competes with larger rivals Publicis, WPP and Omnicom, said [...]
Generic rivals knock sales at AstraZeneca October 27, 2011 GENERIC competition and pricing pressures weighed on AstraZeneca’s sales in the third quarter, ahead of a key challenge to its top-selling cholesterol drug Crestor in the US marketplace, it said yesterday. A weaker dollar provided a prop to Britain’s second-biggest drugmaker, with sales at the reported level up four per cent at $8.21bn (£5.8bn), while [...]
Slowdown hits chemical firms October 27, 2011 EUROPEAN chemical groups warned of slowing demand from construction industry customers in both fast-growing Asia and moribund Europe, compounding problems with rising raw materials costs. The chemical sector’s dependence on highly cyclical machinery makers, carmakers and builders makes it especially vulnerable to a downturn. Germany’s Bayer flagged a slowdown in China’s robust construction sector, while [...]
Kazakhmys posts a fall in quarterly copper output October 27, 2011 MINING group Kazakhmys has posted a dip in third-quarter copper production, blaming an expected drop in the amount of metal in ore mined, but said it was on track to meet its full-year target and appetite for its metal was steady. “In spite of the considerable volatility in financial markets, we have seen consistent demand [...]
Disney buys stake in a Russian firm October 27, 2011 MICKEY Mouse will have to take a crash course in Russian after Walt Disney announced it will expand its presence in the country. The firm will launch a free Disney Channel that will reach about 40m households in one of the world’s fast-growing entertainment markets. The decision followed a meeting between chief executive Bob Iger [...]
Fewer workers saving for pensions as consumers and companies make cuts October 27, 2011 THE NUMBER of Brits saving for pensions is at its lowest level since the 1950s, according to figures released yesterday by the Office for National Statistics (ONS). In 2010, 8.3m people were actively saving into occupational pensions, down from 8.7m in 2009. The number of savers has declined steadily since 1995. The public sector accounts [...]
Japan chooses more QE to fight global slowdown October 27, 2011 GLOBAL threats to the economy and the impact of the strong yen pushed the Bank of Japan into expanding its asset purchase programme yesterday. The policy board voted eight to one to buy an extra ¥5 trillion (£41bn), increasing the total size of the programme to ¥55 trillion. An “adverse effect from a slowdown in [...]
Weak luxury car sales dent Daimler gains October 27, 2011 DAIMLER yesterday reported weaker than expected third-quarter operating profit as the downturn hit sales of its luxury cars in western Europe. Earnings before interest and tax (Ebit) dropped 19 per cent to €1.97bn (£1.73bn) in the three months to the end of September, less than the average analyst estimate of €2.21bn in a poll. Car [...]
Volkswagen boosted by emerging market growth October 27, 2011 VOLKSWAGEN has posted a forecast-beating 45 per cent rise in third-quarter operating profit, driven by emerging markets and strong demand for VW and Audi vehicles, but warned Europe’s debt crisis would weigh on demand for cars in western Europe. Volkswagen’s third-quarter operating profit rose 45.7 per cent to €2.89bn (£2.54bn), above the €2.61bn forecast in [...]
Asia Pacific lifts Inchcape revenue October 27, 2011 Multinational car dealer Inchcape has posted a rise in third-quarter revenue, with an uneven global recovery in the car industry showing strong growth in Asia Pacific and the emerging markets but a further weakening of consumer confidence in the UK and Europe. The British-based firm, which sells and distributes cars for manufacturers such as Toyota, [...]
