Everything Everywhere grows as users turn to smartphones May 2, 2012 EVERYTHING Everywhere, the UK’s largest mobile network provider, yesterday reported a strong uptake of smartphones in its first quarter, boosting core growth. Underlying service revenues, excluding the impact of regulatory cuts, grew by 2.9 per cent in the first quarter to £1.5bn. But enforced cuts to mobile termination rates – the amount telecoms companies charge [...]
Court in Germany rules against Microsoft in tech patent fight May 2, 2012 A COURT in Mannheim ruled yesterday that Microsoft had infringed Motorola Mobility’s patents, and ordered Microsoft to remove its popular Xbox 360 gaming consoles and Windows 7 operating system software from the German market. However, Microsoft said that the ruling did not mean that its products would be taken off retailers’ shelves because a US [...]
Facebook to launch roadshow for mega-flotation next week May 2, 2012 FACEBOOK could set off on its IPO roadshow as early as Monday, paving the way for the biggest internet flotation ever. The SEC is set to approve the offering imminently, meaning the social network will be able to start pitching its stock to potential investors. Sources have set 18 May as a likely date for the listing, [...]
Mastercard and Visa buoyed by surge in profits May 2, 2012 THE WORLD’S largest credit card firms yesterday reported bumper profits as consumers put more of their spending on cards. Visa, the world’s largest credit card firm saw profit surge 47 per cent in the second quarter, while closest rival Mastercard saw a 21 per cent rise in profit as spending on credit and debit cards [...]
LME bidder ups income May 2, 2012 INTERCONTINENTAL Exchange (ICE), one of the parties believed to be preparing a bid for the London Metal Exchange, yesterday reported a nine per cent rise in revenues for the first quarter compared to the same period last year. ICE, which runs clearing houses and exchanges, said revenues had grown to a record $365m (£225.4m) in [...]
Housing gloom grows as Co-op pulls interest only mortgages May 2, 2012 THE CO-OPERATIVE Bank has become the first major lender to pull its interest only mortgages. It said demand for the product had dropped because of falling house prices and “uncertainty” over interest rates. New customers will only be able to take mortgages on a capital and repayment basis from Tuesday. James Hillon, Co-op Bank head [...]
BAE hit by AGM job loss protest as sales stutter May 2, 2012 BAE SYSTEMS yesterday said its sales growth was stalling while its directors faced protests over job cuts at the company’s annual general meeting. Shareholders of the FTSE 100 company were lobbied by hundreds of protesters angry at plans for more than 800 job cuts at the company’s site in Brough, Yorkshire. A group of workers [...]
BAFTA’S PICCADILLY HEADQUARTERS FOR SALE May 2, 2012 BAFTA’S landmark headquarters on Piccadilly are to be put up for sale for £76m. Aviva Investors Property Trust has instructed property consultancy Knight Frank to sell the 81,000 square foot building known as Princes House, which is also home to the Princes Arcade, the Tramp nightclub, a screening room, casino and three-storey town house.
BG and Repsol in Bolivia advance May 2, 2012 ■ British energy company BG Group said yesterday it and Spanish partner Repsol had started production from the first phase of their Margarita gas field in Bolivia, yielding the companies net production of around 17,000 barrels of oil equivalent per day (boepd) each. Gas producer BG said it was working on a second phase that [...]
Kewill to be sold to FPF for £89.5m May 2, 2012 ■ Kewill said yesterday it had agreed to be taken private by tech-focused private equity firm Francisco Partners Funds (FPF) in a deal that values the British software company at £89.5m. Kewill shareholders would get 96 pence per share, a 26 per cent premium to the stock’s close on Tuesday. Kewill, which provides software to [...]
