Bookings slump for Volvo July 24, 2012 World number two truck maker Volvo’s order bookings suffered a deeper-than-expected fall in the second quarter, hit by slumping demand in North America and Europe, but it stood by its outlook for its two top markets in the face growing uncertainty. Volvo said yesterday order bookings of its trucks fell 19 per cent year-on-year across [...]
London health accelerator opens July 24, 2012 US venture capital firm Sandbox has put £750,000 into a healthcare technology seed fund to be launched in London. Europe’s first healthcare accelerator will comprise 10 teams of entrepreneurs who will receive funding as well industry links and office space. Mayor Boris Johnson said the investment “recognises London is Europe’s science and tech capital”. Sandbox [...]
Profits fall at Morgan Crucible July 24, 2012 British advanced materials group Morgan Crucible said yesterday its first-half profit had fallen about three per cent, hurt by lower revenue at its engineered materials division. Morgan Crucible’s underlying pre-tax profit fell to £57.8m for January-June from £59.7m a year earlier. Revenue fell about five per cent to £533m.
SAP maintains full-year outlook July 24, 2012 SAP kept its full-year outlook yesterday amid an uncertain economic environment as it continued to draw clients, especially from the financial industry and the retail sector, to its new cloud-based services. The world’s biggest maker of business software, which reported key figures on 12 July, said it still expected 2012 operating profit to rise to [...]
West End gives Great Portland quarterly boost July 24, 2012 GREAT Portland Estates yesterday posted a buoyant set of quarter results, boosted by its prized West End offices and pipeline of upcoming developments. The firm said the value of its portfolio rose by 3.1 per cent to £2.1bn in the quarter to 30 June, while net asset value lifted 3.5 per cent to 417p. The [...]
HELICAL BAR SUBMITS PLANS FOR WHITE CITY July 24, 2012 HELICAL Bar said yesterday it has submitted plans to build 1,150 homes as part of a giant 12-acre residential-led development in White City, west London. The site, known as Brickfields, is being built in partnership with Aviva Investors and is expected to be worth £750m.
Bumper medal haul predicted for Team GB July 24, 2012 THE OFFICIAL medal target for British athletes may be 48, but if a team of financial risk analysts have their way then Team GB should be taking home a much higher haul of precious metals. According to Airton Risk Management, part of betting firm Paddy Power, the home turf advantage and some surprise star performances [...]
LONDON 2012 IMAGE OF THE DAY July 24, 2012 During the Olympics, City A.M. will publish an Image of the Day. If you have a shot you think our readers will like, email pictures@cityam.com PRINCESS Anne yesterday attended the official welcome for Team GB to the Olympic Village. Britain’s competitors were greeted by a ceremony of dancers and musicians.
Off-licence hits back at Games branding rules July 24, 2012 OFF-LICENCE chain Oddbins hasn’t so much tweaked the noses of London 2012 chiefs as clamped them in a vice and swung them from a wrecking ball. In a tongue-in-cheek attack on the strict branding laws designed to protect the Games’ official sponsors, Oddbins have offered a discount to anyone who proves they’ve shunned all of [...]
Wet weather helps lift sales at Carpetright July 24, 2012 CARPETRIGHT, the troubled floor coverings retailer, showed some signs of recovery yesterday after revamped stores and improvements to its bed range helped boost first quarter sales. The group, which has issued a string of profit warnings over the last two years, said like-for-like sales at its 486 UK stores rose 1.7 per cent in the [...]
