Hays boosts income as UK lags behind on fees February 22, 2012 SHARES in recruiter Hays got an eight per cent lift yesterday after it said its global net fee income had risen 11 per cent, despite a decline in its UK operations. Net fees grew by 11 per cent on a like-for-like basis in the six months to 31 December compared to same period in 2010, [...]
Rothschild-backed renewable energy group Tamar planning to raise £65m February 22, 2012 FINANCIER Jacob Rothschild’s London-listed RIT Capital Partners, Sainsbury and the Duchy of Cornwall are among a group of investors who plan to invest more than £65m in a clean technology start-up focused on producing energy from organic waste matter. The new company, Tamar Energy, will develop a network of around 44 anaerobic digestion plants to [...]
France Telecom dividend slashed on earnings drop February 22, 2012 FRANCE Telecom, the parent body of Orange UK, cut dividends for the next two years by almost 15 per cent as it continues to lose customers to low-cost rival Free Mobile. Full year net income attributable to equity owners dropped 20 per cent to €3.9bn as the group struggled in the face of Europe’s economic [...]
Aegis buys US digital agency February 22, 2012 Aegis Group is speeding towards its twin targets of US expansion and digital media growth by agreeing to acquire Roundarch, the American digital agency, for a maximum consideration of $360m (£229.6m) in cash. The British communications company will pay an initial $125m for its new addition, but is more likely to fork out nearer $250m [...]
LightSquared cuts staff in half February 22, 2012 LightSquared plans to axe half of its employees to save money after the US wireless network defaulted on its $56m rental fee to Inmarsat last weekend. The company hit a blockade last week when US communications regulator the FCC revoked permission for LightSquared to move ahead with its wireless network, which was found to be [...]
Alibaba stocks soar on delist plan February 22, 2012 Shares in Chinese e-commerce giant Alibaba.com soared yesterday after the website’s parent, Alibaba Group, bid up to HK$19.6bn (£1.6bn) yesterday to buy out minority shareholders and delist the business. Alibaba Group, led by Jack Ma, offered a 46 per cent premium of HK$13.50 a share for the 27 per cent it does not already own, [...]
Micro Focus says trading on track February 22, 2012 Micro Focus has said its trading was in line with expectations in the latest quarter. The FTSE 250 firm ended the period with a net debt position of $156m (£99.5m), compared to $47.6m at the end of October, the firm said in a statement yesterday.
CITY SALUTES ARMED FORCES AT GUILDHALL February 22, 2012 THE CREAM of London’s business and culinary talent last night came together at Guildhall for the Square Mile Salute fundraiser to support the armed forces. Owen Paterson, secretary of state for Northern Ireland, was guest of honour at the military fundraiser, where 13 of the world’s top chefs – including John Williams of The Ritz [...]
PICK OF THE AUCTION LOTS February 22, 2012 Skiing with Franz Klammer Four days skiing next winter in the premier skiing locations in the Italian, German and Austrian Alps, hosted and personally guided by Olympic Champion Franz Klammer. Five Nights on Albany in the Bahamas Trip of a lifetime. The resort that is the vision of Tavistock Group and golfing legends Tiger Woods [...]
Barratt sees swing back into profits February 22, 2012 BARRATT Developments swung back into profit in the first half of the year thanks to its increased focus on higher margin regions, building houses rather than flats and developing low-cost land bought after the 2008 property crash. Shares, which are up almost 50 per cent since Christmas, rose almost eight per cent yesterday after the [...]
