London 2012 IMAGE OF THE WEEK September 1, 2011 In the run-up to the 2012 Olympic and Paralympic Games, City A.M. is publishing its Olympic Image of the Week. Please email us your photos to pictures@cityam.com with IOW2012 in the subject line. Full details: www.cityam.com/ london-2012.
Healthcare Locums hits back at funds September 1, 2011 THE public spat over the finances of medical hiring firm Healthcare Locums deepened yesterday as the company issued a searing attack on some of its major shareholders. Healthcare Locums is battling a group of its investors including US investment funds Arundel Capital and Permian Investment Partners that have expressed their horror at a plan to [...]
Spirit outperforms struggling Punch after demerger September 1, 2011 SPIRIT Pub Company reported strong sales growth in the fourth quarter and said it was on track to meet full-year expectations as it gave its first trading update since demerging from Punch Taverns in August. The company, which owns around 900 pubs that it manages directly, said sales at pubs open more than a year [...]
Restaurant Group piles on an 8pc profit September 1, 2011 RESTAURANT Group has shrugged off concerns related to rising input costs and lower consumer morale by posting an eight per cent rise in its first-half adjusted pre-tax profit, and said it expected to make further progress this year. The company, which owns the Garfunkel’s and Frankie & Benny’s chains, said yesterday year-to-date total turnover was [...]
Judge rejects Oracle $1.3bn verdict against SAP after copyright dispute September 1, 2011 A FEDERAL judge rejected a jury award of $1.3bn (£1.15bn) to Oracle in a copyright infringement lawsuit against SAP, paving the way for a possible new trial in a years-long legal dispute. In a ruling released yesterday, US District Judge Phyllis Hamilton found that Oracle had proven actual damages of only $272m. She called for [...]
FSA freezes firms’ assets September 1, 2011 THE Financial Services Authority (FSA) has frozen the assets of firms it says manipulated share prices on the London Stock Exchange and other trading platforms, the latest sign of the regulator’s more aggressive approach to suspected abuses. “These companies engaged in repeated cross-platform market manipulation, which the FSA will not tolerate,” Tracey McDermott (pictured), the [...]
Netflix loses rights to Disney movies as partner pulls plug September 1, 2011 NETFLIX suffered a big blow yesterday when a partner moved to pull thousands of Disney and Sony movies from its service. Cable television specialist Starz Entertainment will pull its movies and shows from Netflix’s popular video streaming service when the existing contract ends next February after renewal talks broke down yesterday. Starz said in a [...]
Mothercare joins shorted UK retailers September 1, 2011 INVESTORS stayed sceptical on the UK’s mid-market retailers in August, new figures from Data Explorers show. Mothercare and Ocado both joined the list of the most shorted stocks on the FTSE All-Share as hedge funds bet their shares would fall. Publishing group Yell, Argos owner Home Retail and Dixons were among the most shorted for [...]
HOW DOES LAYERING WORK? September 1, 2011 Q.WHAT IS LAYERING? A.Layering is a form of share price manipulation where traders place large block orders on a stock to drive its price up or down. They then take advantage of the manipulated prices to buy or sell the stock before cancelling the original order. It is also known as spoofing. Q.HOW DID THE [...]
Moat quits Orange JV amid shake-up September 1, 2011 OLAF Swantee’s first action after taking over as Everything Everywhere chief executive yesterday was to announce the resignation of the firm’s chief financial officer. Former T-Mobile chief executive Richard Moat leaves after twice being overlooked for the top job: first when he was pipped by Tom Alexander after the merger with Orange last year, and again [...]
