Collins Stewart profit up July 29, 2010 BROKER and financial services group Collins Stewart said market uncertainty made it cautious on the outlook after its wealth management and corporate finance units contributed to higher interim profits. Pre-tax profit for the six months to 30 June rose 6.6 pervcent from last year to £6.5m, while operating profit rose 20 per cent to £7.3m. [...]
Easyjet row turns nasty July 28, 2010 A BITTER war of words broke out between easyJet founder Sir Stelios Haji-Ioannou and the budget airline over its poor punctuality yesterday adding fresh fuel to ongoing tensions over their branding agreement. Stelios, who quit the board in May in a row over strategy but whose private holding company, easyGroup, owns the “easy” brand and [...]
RIM hopes to kill iPhone July 28, 2010 Blackberry maker Research In Motion (Rim) is expected to announce the release of its new “iPhone killer” handset next week. It is understood the firm will unveil its 9800 model touchscreen smartphone at a press conference in New York on Tuesday. The launch has special significance for the firm which has seen its share price [...]
Growth slows in parts of US July 28, 2010 Economic growth in parts of the US is at risk of grinding to a halt, heightening fears of a double-dip recession. The Federal Reserve’s latest Beige Book survey, released yesterday, and tracking 12 regions showed growth in Atlanta and Chicago had slowed and Cleveland and Kansas City had held steady. Other regions were described as [...]
World trade is continuing to recover July 28, 2010 WORLD industrial production has overtaken its pre-recession peak – that is the key finding from one of the world’s most useful economic surveys, produced monthly by the Dutch Statistics Bureau. The Netherlands are a key hub for world trade; local statisticians are experts at crunching the numbers. Ian Harwood, chief economist at Evolution Securities, is [...]
Sage bids for TeamSystem July 28, 2010 Accounting software group Sage is first in line to snap up Italian business management software group TeamSystem for an estimated €650m (£542m). TeamSystem, which has been put on the market by private equity vehicle Bain Capital, will close the bidding tomorrow. It is understood HgCapital and Cinven are also interested in the firm. Bain stands [...]
Carphone beats forecasts July 28, 2010 Carphone Warehouse, Europe’s top mobile phone retailer, beat quarterly revenue forecasts, boosted by demand for smartphones, and said its megastore partnership with US group Best Buy had a successful launch. The British group said it remained cautious about the economic environment but was confident of achieving its full-year guidance.
New Fannie rules paying off July 28, 2010 Stricter lending standards adopted last year by Fannie Mae are beginning to pay off as the mortgage finance giant’s “new book” of business is the strongest in a decade, the firm’s chief executive said yesterday. Fannie Mae is emphasising safer, long-term, fixed-rate loans.
Google talks over Facebook rival July 28, 2010 Google has held talks with gaming companies as it looks to develop a new service to compete with social networking website Facebook. The internet giant has had talks with makers of online games for the service including Playdom, Electronic Arts Playfish and Zynga Game Network, according to people close to the matter.
WHAT THE OTHER PAPERS SAY THIS MORNING July 28, 2010 FINANCIAL TIMES ICBC SAYS IT WILL RAISE £4.26BN Industrial and Commercial Bank of China, the world’s largest lender by market value, said yesterday it planned to raise up to £4.26bn in a rights issue in Hong Kong and Shanghai to shore up its capital base. The rights issue is the latest in a string of [...]
