ANALYST VIEWS | WHAT’S YOUR TAKE ON THE GDP FIGURES? July 25, 2012 ANDREW GOODWIN ITEM CLUB It would be easy to get carried away … but the reality is that the Diamond Jubilee bank holidays have wreaked havoc with the data. The ONS has effectively said that output fell by almost three per cent … between May and June because of the movement of the late-May bank [...]
Billionaire Li Ka Shing snaps up Wales & West July 25, 2012 BILLIONAIRE business magnate Li Ka Shing grabbed another slice of the UK’s utility infrastructure network yesterday by snapping up gas distribution firm Wales & West Utilities (WWU). Li, estimated to be the richest man in Hong Kong and ninth richest in the world, will take control of WWU through a consortium owned by his holding [...]
Wind turbine subsidy cut as gas gets boost July 25, 2012 GAS producers are set to receive a £500m tax break, while there will be a 10 per cent cut in the subsidies provided for onshore wind turbines, the government announced yesterday. It is understood that the Treasury was keen to cut wind turbine subsidies by 25 per cent but Lib Dem energy secretary Ed Davey successfully [...]
Superman’s utility stakes stretch across the country July 25, 2012 Northumbrian Water Group Stake 100 per cent Area covered 12,260 sq km People served 4.4m Northern Gas Networks Stake 88 per cent Area covered 25,000 sq km People served 6.7m UK Power Networks Stake 100 per cent Area covered 29,000 sq km People served 8m Southern Water Stake 4.75 per cent Area covered 4,450 sq [...]
Arm defies the chip slowdown as profits leap July 25, 2012 ARM Holdings posted a jump in earnings yesterday, as the British chip designer continued to outperform the rest of the industry. The company beat forecasts for the three months to July, reporting a 23 per cent rise in year-on-year profits in the face of poor recent performances from its rival Intel and chipmaker Qualcomm, which [...]
BT rocked by fall in European contracts as shares plummet July 25, 2012 SHARES in BT slumped yesterday as the extent of the telecoms operator’s European woes were laid bare, with the firm announcing a six per cent drop in revenues. BT’s lossmaking global services arm, which provides phone and internet services to multinational corporations and governments, saw contracts dry up in the three months to July, with [...]
ANALYST VIEWS | WHAT IS THE LONG-TERM OUTLOOK FOR ARM? July 25, 2012 JULIAN YATES INVESTEC We continue to see Arm as a standout tech holding, and see licence growth in recent years catalysing royalty upgrades from next year. Despite the negative stockmarket trends, we see material long term value in Arm. Buy. GARETH EVANS CANACCORD GENUITY Investors struggle to balance the extraordinary long-term potential against a difficult [...]
Income drops at Everything Everywhere July 25, 2012 BRITAIN’S biggest mobile operator Everything Everywhere saw income fall in the first half of the year as the Orange and T-Mobile owner invested in retaining customers and upgrading networks. Adjusted earnings decreased slightly to £673m, as revenues from calls and other services fell 1.8 per cent to £2.99bn due to an Ofcom-ordered cap on charges. [...]
Countrywide revenues grow July 25, 2012 Countrywide, the UK’s largest estate agency and property services group, will today announce that it has grown total revenues by 10 per cent in the last 12 months. The firm has made £20m on a year-to-date basis before tax and other factors are taken in account, on total income of £257m. The company expects the [...]
FirstGroup speeds up disposals July 25, 2012 FirstGroup yesterday said it is trading as expected, as it plans to speed up its shake-up of its UK bus operations. The transport group is selling off parts of its bus business to focus on faster-growing markets. All resolutions passed at the firm’s shareholder meeting yesterday, in spite of analyst grumbles about chairman Martin Gilbert’s [...]
