ROYAL MAIL TO DEVELOP BATTERSEA DEPOT March 6, 2012 THE ROYAL Mail has won planning permission from Wandsworth Council to redevelop its South London mail centre next to Battersea Power Station into a residential scheme. The 13-acre development includes 1,800 homes, a primary school and retail and public space. Royal Mail will also invest around £50m in the extension of the Northern line and [...]
NEW GIG FOR SENTANCE March 6, 2012 FORMER Bank of England MPC member Andrew Sentance has taken on a new role on the board of trustees at Build IT, a charity that helps with building health facilities, housing and schools in rural Zambia. A keen guitar player in a band called Revelation, Sentance joins Build IT at the same time as the [...]
BREWIN DOLPHIN IN VICTORIOUS MOOD March 6, 2012 BREWIN Dolphin took on and beat a team from Rathbones in a rugby match played last week in the City. The match, in front of around 200 spectators, was a warm-up for a bigger fundraiser for Leukaemia & Lymphoma Research: the London-Paris 2012 cycle ride. Brewin Dolphin is proving its pedal power with a team [...]
Betfair gets a boost from Aussie Open March 6, 2012 BETFAIR, the online betting group, yesterday said it took £50m of bets on the marathon Australian Open tennis final between Novak Djokovic and Rafael Nadal, highlighting the growing popularity of in-play gaming on major sporting events. Horse racing was also a driver of growth, with races such as Kauto Star’s victory in the King George [...]
Telecom firms must warn over web copyright March 6, 2012 BT and TalkTalk lost a court appeal yesterday, meaning the internet service providers (ISPs) will now have to identify and warn customers who are suspected of illegally accessing copyrighted material online. The two major British ISPs challenged a High Court ruling, claiming the Digital Economy Act – a crack down on illegal file sharing – is [...]
Growth again for Inmarsat March 6, 2012 INMARSAT admitted its future with LightSquared is on the rocks and urged investors to “take a conservative stance on payments being received” from the US wireless company, which was the “primary driver” of revenue growth at Inmarsat in 2010 but defaulted on its most recent $56m (£36m) rent cheque. But the British satellite group said [...]
Pace ends a tough year with a profit March 6, 2012 PACE shares jumped 13 per cent yesterday after a fall of nine per cent in the previous day’s trading, despite the television set-top box developer posting a drastic slump in profits. After a year in which the company axed its senior management team, issued three profit warnings and saw its main hard disk suppliers hit [...]
ANALYST VIEWS: CAN PACE DELIVER ON ITS TURNAROUND STRATEGY? March 6, 2012 JONATHAN IMLAH | COLLINS STEWART While the short term outlook is better than expected, the medium to long term negatives will continue to outweigh the positives. The price reflects scepticism at Pace’s ability to execute its turnaround plan and fundamental questions about the long term relevance of the set-top box – and both assumptions are [...]
LOVE IS ALL AROUND AS CUPID EXPANDS MORE March 6, 2012 Online dating company Cupid more than doubled revenues last year from £25.7m to £53.6m, half of which was generated outside the UK in one of the 15 countries the website now operates in. The Edinburgh-based group grew pre-tax profits 67 per cent to £7m website subscribers grew to 486,776. The firm also announced it had [...]
Textile rental boosts Johnsons March 6, 2012 Year-end profits at Johnson Service Group grew to £13.7m on revenues of £242.3m in 2011, up from £4.5m the year before. The results were boosted by a £15.4m operating profit from its textile rental division, which provides linen to the hotel, catering and corporate hospitality markets. However earnings from the firm’s flagship dry cleaning arm, [...]
