Ebay posts bumper earnings July 17, 2008 Online auctioneer eBay posted a 22 per cent rise in second-quarter net income to $460m (£230m) beating market forecasts and helped by further auction activity and a boosted sales from its PayPal secure payment unit. Revenue rose 20 per cent to $2.2bn. The company also said it bought back 19 million eBay shares worth $566m [...]
Mutuality stages a comeback as Co-op buys Somerfield for £1.56bn July 17, 2008 Three months ago Co-operative Group chief executive Peter Marks unveiled a bold three-year plan to double the group’s profits. The fortunes of the mutual store group were flagging, with 2007 profits down almost 50 per cent and the group offering little competition to the main supermarket chains. Yesterday, the first phase of Marks’ plan to [...]
Merrill Lynch sells stake in Bloomberg July 17, 2008 Investment bank sells its 20 per cent stake in the media giant but keeps BlackRock US giants Merrill Lynch, today expected to reveal its fourth consecutive quarterly loss, has reached a deal to sell its stake in financial terminal and data provider Bloomberg for an estimated £2.2bn ($4.5bn). Merrill Lynch, which has a 20 per [...]
The perfect storm July 16, 2008 Higher than expected inflation figures and growing concerns about the banking sector knocked London’s FTSE 100 index of leading stocks down 2.4 per cent yesterday to under 5,200. The benchmark index has now fallen 23 per cent since a June 2007 high and is in clear bear market territory. Bank stocks, unsettled by fears that [...]
Harrington vows to play on July 16, 2008 Padraig Harrington will play through the pain barrier to defend his Open Championship title this week after suffering a wrist injury. The Irishman sustained the injury while winning the Irish PGA tournament on Saturday and only managed his first nine holes of practice yesterday ahead of the first round at Royal Birkdale tomorrow. “If it [...]
Baffling Blatter’s ‘Slave’ remarks are a joke July 16, 2008 So, according to Sepp Blatter, the president of world governing body Fifa, our modern day topflight footballers are being treated like “slaves”. With comments like that, it’s no wonder Blatter is seen as an irritation to our game rather than a so-called leader. I don’t think the man has had a sensible thing to say [...]
Don’t let the sunshine ruin your holiday July 16, 2008 Too many people still don’t understand the damage sunburn can cause, says Zoe Strimpel The sorry English weather has most of us giddy with excitement at the prospect of our August holiday somewhere sunny and hot. And though we all know that baking in the sun is bad for us, many of us are going [...]
Maternity law reform fuels an old debate July 16, 2008 Zoe Strimpel talks to employment lawyers about the impact of the new rules If you’re an employer, or a woman of childbearing age, your ears may have pricked up at the comments made this week by Nicola Brewer, CEO of the Equalities and Human Rights Commission. Brewer said that new legislation that extends paid maternity [...]
Brown’s latest bid to curb knife crime July 16, 2008 Up to 20,000 families will be given intensive support to help get their wayward children back on track as part of a £100m government plan to curb youth crime, the Home Office has announced. The widely trailed programme was unveiled amid mounting concern over knife crime following a spate of stabbing deaths in London. Opposition [...]
Capital & Regional set to sell fresh assets after its funds slump in value July 16, 2008 Co-investing property fund manager Capital & Regional hinted yesterday that further sales of its assets were likely, as it moves to cope with the slump in the property market. The company, which is one of the biggest property asset managers in the country and owns a number of large shopping centres and out of town [...]
