MEDIA EXEC BRINGS £1M PERUVIAN BID TO SOHO February 20, 2012 MARTIN MORALES was headhunted by Apple as one of the four founders of iTunes Europe and sat on the board of The Walt Disney Company. But Ceviche, the Peruvian restaurant behind a plain black door at 17 Frith Street in Soho, is his life’s work. Since leaving Disney in July 2011, the half-Peruvian Morales has [...]
CSR spree is music to the ears of the City February 20, 2012 SHARES in wireless technology firm CSR, which makes chips for use in the Beats headphones loved by Premier League footballers, soared yesterday after it pledged a stock buyback of up to $50m (£31.5m), raised its dividend and said it would cut costs quickly. CSR shares closed up 20.77 per cent at 275p last night, making [...]
TNT shares jump 60pc as sale talks with UPS heat up February 20, 2012 INVESTORS in Dutch freight and delivery firm TNT Express are pressing for a higher offer from US-based United Parcel Services, driving shares up more than 60 per cent to an all-time high yesterday. TNT said on Friday it had rejected an offer from UPS, the world’s largest package delivery company, of €9 per share which [...]
Samsung shifts to new TV tech on LCD spin-off February 20, 2012 SOUTH Korea’s Samsung Electronics, the world’s biggest maker of televisions, officially marked a shift in its focus towards new generation OLED display technology, and said it will spin off its loss-making LCD flat-screen business into an affiliate. The announcement comes after weeks of speculation, with the outlook for liquid crystal display televisions grim as shoppers [...]
ANALYST VIEWS: ARE THE CHIPS UP OR DOWN FOR CSR? February 20, 2012 NICK JAMES | NUMIS Fourth quarter results are ahead of expectations with slightly better revenue… We upgrade our target price to 290p from 220p… Focus in full year earnings 2012 is on voice and music, location, automotive, Bluetooth low energy and image capture – areas where CSR has strong platforms and has already demonstrated some [...]
SILVER SCREEN STAR COULD GO FURTHER INTO RED February 20, 2012 Weinstein Co, the film studio behind Bafta boardsweepers The Artist (pictured) and The King’s Speech, is said to be looking to raise $150m (£94.7m) to support operations and pay off debt. The company has struggled financially since its 2005 birth, but is rising to success on a string of Oscar nominations. Union Bank is managing [...]
Segro banks £80m through selling off industrial estates February 20, 2012 BRITISH landlord Segro said yesterday it has sold a portfolio of five non-core industrial estates to funds owned by Ignis Asset Management for £80.2m. The sale is part of the company’s plan to focus its UK multi-let industrial portfolio on London and South East. “The sale of these assets demonstrates that, despite the uncertain economic [...]
Tesco launches float of its Thailand property fund to raise up to £369m February 20, 2012 TESCO, the world’s third-largest retailer, launched the initial public offering of its Thailand property fund yesterday, aiming to raise up to £369m to finance future expansion. The offering is part of a trend among retailers in recent years to squeeze more value from their real estate assets, bundling them into a property fund, selling the [...]
Fizz to fall out of Carlsberg profits in 2012 February 20, 2012 DANISH brewer Carlsberg yesterday warned its operating profits will be flat in 2012, hit by declining beer markets in northern and western Europea while its biggest market, Russia, will show a slow recovery. The world’s fourth largest brewer said yesterday it expects the Russian beer market to return to modest growth this year after a [...]
Divestments to soar 92pc, says Deloitte February 20, 2012 DIVESTMENTS will rise to a value of £250bn throughout the world in 2012, Deloitte predicted yesterday, as companies spin off non core assets to bolster their balance sheets. The total value of the spin-offs would represent a staggering 92 per cent rise from last year, when the total came to £130bn. “Investor appetite for spin-offs [...]
