ANALYST VIEWS: WHAT DID YOU TAKE FROM DMGT’S RESULTS? September 27, 2011 LORNA TILBIAN | NUMIS The tone of DMGT’s conference call was one of cautious optimism. Management’s downgrading of guidance to the ‘lower end of the range’ was due to cover price discounting at the Mail on Sunday following NotW’s closure. JONATHAN JACKSON | KILLIK & CO The group has delivered a solid revenue performance, driven [...]
Slide in regional ads to push DMGT to full year profit fall September 27, 2011 DAILY Mail & General Trust (DMGT) will see its full-year profits slip after taking a hit from a faltering consumer advertising market. Ad sales at its national newspaper business were robust, but were offset by torrid trading at its regional operations, which saw revenue fall 11 per cent in the last quarter. Online ad sales [...]
QUERCUS LIFTED BY LARSSON AFTERGLOW September 27, 2011 PUBLISHER Quercus said yesterday it had managed to attract some big name book deals after the phenomenal success of its Stieg Larsson hit The Girl with the Dragon Tattoo. Quercus recorded sales of £12m in the first six months of 2011. Pre-tax profit rose to £3.4m, up marginally on 2010’s £3.3m. Chief executive Mark Smith [...]
iPhone 5 expected next week September 27, 2011 Apple is expected to unveil its much-awaited new iPhone next week, with analysts speculating it could sell as many as 26m units in its first three quarters on sale. The secretive firm announced it will hold an event at its headquarters in Cupertino next Tuesday. Its shares rebounded yesterday after taking heavy losses in the [...]
RIM jumps on Icahn speculation September 27, 2011 Shares of Research In Motion jumped more than six per cent yesterday morning on market speculation that activist investor Carl Icahn had taken a stake in the struggling BlackBerry maker. Its shares have lost some 60 per cent of their value this year, and the Canadian company has been the target of several investor attacks [...]
Europe plans internet charter September 27, 2011 The Council of Europe plans to establish an internet user charter to guarantee the rights of consumers in an era of increasing government attempts to seize control of the web, its deputy secretary general said yesterday. Internet activists say governments ranging from Egypt to Pakistan have been trying to control the internet through tactics like [...]
Central Rand Gold loses its mining permit September 27, 2011 CENTRAL Rand Gold (CRG) saw its shares crash 56 per cent to just 0.22p yesterday after the FTSE Fledgling firm had its mining licences revoked. The firm said the South African ministry of mineral resources has cancelled its mining rights with immediate effect, in a dispute over rules on mining work and social labour. The [...]
How anti-capitalist rhetoric is affecting us all September 27, 2011 THREE party conferences, and three more rounds of anti-capitalist rhetoric – and bearing the brunt, of course, are the bankers. YouGov’s BrandIndex illustrates how consistent negative rhetoric and press coverage has impacted the overall perception of the banking industry. The banking industry index average (spanning 10 retail banks) has remained persistently negative, at its lowest [...]
Rio Tinto lifts stake in Canada’s Ivanhoe Mines to 49 per cent September 27, 2011 RIO TINTO lifted its stake in Canada’s Ivanhoe Mines to 49 per cent yesterday as tensions continued over the huge Oyu Tolgoi copper-gold project in Mongolia. The Anglo-Australian miner bought 3.7m shares of Ivanhoe for about C$73m (£46m), bringing its stake in the exploration and development company to the maximum level allowed under a pact [...]
BAE confirms 3,000 job cuts across Britain September 27, 2011 DEFENCE and aerospace giant BAE Systems confirmed yesterday that it is cutting almost 3,000 jobs at sites across the country, as the industry reacts to diminishing defence budgets and increased competition from emerging markets. In a statement issued yesterday, Ian King, chief executive of BAE, said the firm need to cut back its workforce because [...]
