Unilever invests in new areas August 17, 2011 CONSUMER goods group Unilever expects to see three-quarters of its turnover from emerging markets by 2020 as heavy investment in these fast-growing regions and sluggish growth elsewhere take effect. “Europe and the US will be, for the next 10 years, low-growth territories, I’m afraid. So, soon we will have 75 per cent of our turnover [...]
Pendragon underwriters hit as shares left unsold August 17, 2011 A THIRD of car dealer Pendragon’s £75.2m rights issue was left on the books of underwriters as the turbulence in the markets took its toll. The rights issue was part of a financial restructuring led by chief executive Trevor Finn. When Pendragon announced the nine-for-eight issue of new shares at 10p a share in mid-July, [...]
Target beats forecasts as its summer sales perk up August 17, 2011 US RETAILER Target reported a bigger-than-expected rise in quarterly profit and forecast a more profitable year than analysts were anticipating yesterday, as its credit card business continued to grow and sales picked up as the summer progressed. Target has more than 1,760 US stores and is getting ready to open stores in Canada. Target has been adding [...]
Vestas’ full order book impresses August 17, 2011 DANISH wind turbine maker Vestas wrong-footed investors yesterday, announcing a bulging order book that contrasted with solar power Evergreen Solar’s bankruptcy filing two days ago. “Despite global uncertainty, we feel that Vestas is in a good position to get the order intake that we have outlined,” chief executive Ditlev Engel said, referring to a forecast [...]
AEA Technology confident of progress despite gloomy outlook on UK growth August 17, 2011 AEA TECHNOLOGY Group continues to be cautious about market conditions in the UK and Europe but overall remains confident of its business position. AEA – an AIM-listed technical, energy and sustainability consultancy – said yesterday the actions taken to reduce its cost base in the last year combined with additional reductions this year are helping [...]
Anglo Irish cuts 350 jobs as part of restructuring August 17, 2011 Nationalised lender Anglo Irish Bank yesterday said it will cut up to 350 jobs by the end of next year, 130 of which will come from its workforce in Ireland. The Irish Bank Officials Association, a union for finance workers, will today start talks with the failed bank over how cuts will be handled.
Irish Nationwide loses chief exec after takeover August 17, 2011 The chief executive of Irish Nationwide building society is leaving the defunct lender following its takeover by Anglo Irish Bank, management at Anglo told staff yesterday. Gerry McGinn took charge of the failed lender two years ago. The bank is being wound down, together with Anglo, as part of the country’s bailout.
Xchanging scores contract with BAE Systems August 17, 2011 Struggling tech firm Xchanging yesterday boosted its flagging share price by 9.5 per cent with news of a $150m (£90.6m) contract to procure some back-office services for BAE Systems over the next seven years.
Blinkx to host Future’s web magazines August 17, 2011 BLINKX, the world’s biggest video search website, added mountain biking, heavy metal music and gaming to its burgeoning content portfolio yesterday as it penned a partnership with magazine group Future Publishing. Future, which produces magazines such as Metal Hammer and Xbox World 360, will make all of its 100 or so digital magazines available on [...]
Motorola director quits firm August 17, 2011 MOTOROLA director William R Hambrecht (pictured right) has quit the company just two days after Google made a shock $12.5bn (£7.6bn) bid for the phonemaker. Hambrecht had been installed on the board by activist investor Carl Icahn, who had campaigned for the firm to be split in half, which came to fruition in December. The 76-year-old [...]
