BLOOMSBURY PLANS PUSH INTO INDIA February 14, 2012 HARRY Potter publisher Bloomsbury announced yesterday it is planning to open a dedicated India business to take advantage of the 50m people in the emerging economy buying English books every year. Bloomsbury has already been operating in India for 25 years through a marketing and distribution partnership with Penguin. “We are hugely enthusiastic about this [...]
FX TRADERS WIN UNFAIR DISMISSAL LAWSUIT February 14, 2012 SOCIETE GENERALE traders Didier Meyer and Eric Leandri can finally attempt to resurrect their careers, after being cleared of allegations of unauthorised trading in connection with a multi-billion euro trade with ArcelorMittal in 2009. Meyer, former global head of FX options trading, and his colleague Leandri, global head of FX structuring, were suspended in October [...]
New digital strategy can’t stop Yell’s drop February 14, 2012 SHARES in Yell took a steep tumble as the directories group revealed its revenues dropped 15 per cent to £382.8m in the third quarter. The company, which has suffered in the rise of the digital era, said revenues from print and directory enquiry services were down 22 per cent to £269.8m, sending Yell’s stock to [...]
Apple iPad rumour mill whirls despite problems in China February 14, 2012 THE HUNGRILY-AWAITED iPad 3 could run on fourth generation networks when released in the US later this year, with top American wireless providers AT&T and Verizon vying for the carrier deal. Apple is expected to announce details of its latest tablet offering in the first week of next month, with some sources pointing specifically to [...]
Directory publisher comes up short February 14, 2012 REMEMBER the 1997 Yellow Pages Christmas advert? The one where a little boy steps on the directory to kiss a girl under the mistletoe because he is too short to reach her otherwise. These days, the Yellow Pages is tiny, a shadow of its former self, barely bigger than a paperback novel. The boy in [...]
Sibling rivalry: Samsung boss sued by brother for inheritance sum February 14, 2012 THE CHAIRMAN of Samsung is being sued by his brother for 700bn Korean won (£397m) over an inheritance of company shares from their father. Lee Maeng-Hee, 80, is suing Lee Ken-Hee, the 70 year old chairman of the South Korean electronics company, over eight million shares in Samsung Life Insurance and 20 shares in the [...]
Hampson puts itself on the auction block February 14, 2012 AEROSPACE group Hampson Industries said it had put itself up for sale yesterday, nearly three months after saying it was considering strategic options for two of its units. FTSE-listed Hampson has £54.9m in debt, more than double its current market capitalisation, and has been working to refinance its bank facilities. The company said it appointed [...]
AVON SLUMPS TO LOSS IN TOUGH MARKET February 14, 2012 BEAUTY products giant Avon yesterday reported a fourth quarter loss triggered by weakening demand in North America and Europe. The loss of $400,000 (£255,000) compared with profits of $229.5m in the final three months of 2010. Quarterly revenue slipped four per cent to $3.04bn despite promotional activity from Hollywood’s Reese Witherspoon (above). Picture: GETTY
Music player resurrects Myspace February 14, 2012 One million web surfers have joined Myspace in the last month as the social site’s new music player generates a daily sign-up rate of 40,000. Discarded by Rupert Murdoch last June, Myspace now offers unlimited on-demand access to 42m songs, compared to Spotify’s 15m. Its success is partly thanks to connected apps with Facebook and [...]
Pennon hit by waste business February 14, 2012 Water and waste company Pennon said yesterday that it expects to report a slightly lower full-year profit at its waste management unit, hurt by a sustained drop in prices. Viridor, which provides recycling and waste collection services, typically brings in a third of total group profit. “Viridor has experienced a reduction in recyclate prices over [...]
