Capgemini gets off to good start May 10, 2012 Capgemini, Europe’s largest computer consultancy, confirmed its full-year targets yesterday after posting higher-than-expected sales in the first quarter driven by technology services and growth in North America. Capgemini reported 4.3 per cent organic growth in sales to €2.6bn (£2.05bn). Sales in North America, which remained the biggest contributor to growth in the quarter, grew 13 [...]
Aquascutum sold to YGM May 10, 2012 YGM Trading yesterday agreed to buy Aquascutum, the failed luxury clothes maker that has dressed royalty and politicians, for £15m. YGM, which had been in talks for weeks, already owns the brand in Asia. The deal preserves 100 jobs in the UK, the buyer said in a statement.
IAG sells off BMI Regional May 10, 2012 British Airways parent IAG said yesterday it had sold BMI Regional, a division of the loss-making BMI business it recently acquired, for £8m. IAG, which had planned to close the business, said the sale should secure 330 jobs. It will be taken over by Sector Aviation Holdings, an Aberdeen-based consortium that includes tycoon brothers Stephen [...]
RWE is hurt by Germany’s exit from nuclear May 10, 2012 ENERGY group RWE posted a 27.9 per cent fall in quarterly earnings yesterday on lower gas sales and Germany’s abrupt exit from nuclear power. The firm said net income plunged to €1.3bn (£1.04bn), in line with forecasts. It blamed “significant one-off burdens” linked to Germany’s move last year to shutter its nuclear plants, in light [...]
Inchcape says UK customers are still investing in high-end cars May 10, 2012 CAR dealer Inchcape yesterday said like-for-like revenues rose 1.4 per cent in the first quarter of the year, with a patchy performance in Europe and Asia offset by strong sales in Britain, particularly for luxury cars. Inchcape said it was outperforming the industry in the UK, with “solid” used car margins and high-end vehicle sales [...]
ArcelorMittal sees slower demand in EU May 10, 2012 ARCELORMITTAL, the world’s largest steelmaker, yesterday forecast higher profit for the second quarter as strong US sales offset anaemic demand in Europe. In the first quarter, the group reported core profit of $1.97bn (£1.2bn), ahead of analyst forecasts. However, it was boosted by a $241m one-off gain from employee benefit changes at its Canadian unit. [...]
LONDON 2012 IMAGE OF THE WEEK May 10, 2012 IN Olympia yesterday, the Olympic flame was lit by a troupe of actresses playing priestesses, who kindled the fire by catching the sun’s rays in a parabolic mirror. The ceremony took place in the ruins of the Temple of Hera, near to the ancient Olympic stadium. The flame, a symbol representing purity, will be flown [...]
ENRC warns of slowdown May 10, 2012 Kazakh mining group ENRC warned yesterday that revenue decreased “significantly” in the first quarter compared to a bumper three months a year ago, hit by a drop in prices for the commodities it sells, especially iron ore, and weaker production volumes. The miner said it expects cost pressures to continue and unit costs to rise [...]
Bumi is on track for turnaround May 10, 2012 Indonesia-focused miner Bumi will update the market by the year-end on plans to streamline its structure and boost shares, chief executive Nalin Rathod said yesterday. The firm said coal production rose nine per cent in the quarter in spite of heavy rain hampering progress, and it is on course to hit its output targets for [...]
Great Portland raises debt in US May 10, 2012 Property specialist Great Portland Estates (GPE) has raised $200m (£128m) of debt through an issue of bonds in the US, to fund further developments in London. The firm said it originally set out to raise $75m (£47m) but was more than five times oversubscribed. GPE said the notes were placed with institutional investors, with more [...]
