Kodak replaces restructuring boss January 23, 2012 Eastman Kodak replaced its chief restructuring officer yesterday, just a handful of days after it filed for bankruptcy protection. James Mesterharm, who works for the consultancy firm AlixPartners, will replace Dominic DiNapoli, the FTI Consulting employee who was chosen just last week. The firm said there was no “disagreement or difference of opinion” with the [...]
Texas Instruments beats Street January 23, 2012 Texas Instruments last night reported higher-than-expected fourth-quarter revenue as demand for its chips improved more quickly than it had forecast. The US company, which makes chips for everything from consumer electronics to industrial equipment, reported a profit of $298m (£191m), down by two-thirds on a year ago. Revenue fell three per cent to $3.42bn, beating [...]
Ocado shares fall as finance chief resigns January 23, 2012 OCADO saw its shares fall yesterday after the online grocer announced that Andrew Bracey, its chief financial officer, has quit to join the recruiting agency Michael Page as its finance director. Bracey, who joined Ocado just 18 months ago ahead of its controversial flotation in 2010, will step down in April after completing the group’s [...]
Asda plans £500m expansion January 23, 2012 ASDA has announced it will create 5,000 new jobs in 2012 by opening 25 new stores and three depots across the UK. Britain’s second largest supermarket chain has earmarked £500m for the investment that will also expand and refurbish 43 of its existing stores. The 25 new shops will add over 600,000 square feet of [...]
Retail guru leaves the firm he helped to float January 23, 2012 ANDREW Bracey, who is leaving the world of online grocery shopping to join recruiter Michael Page, has been Ocado’s chief financial officer since November 2009. Prior to Ocado, he was head of consumer and retail investment banking at Jefferies International, with an 18-year career in investment banking and private equity behind him. After studying at [...]
Thomas Cook shares down as bookings drop January 23, 2012 THOMAS Cook’s shares took a battering yesterday after it emerged that its summer bookings by British customers were sharply lower in early January. The news further dents confidence in the embattled holiday operator after a string of profit warnings and a funding crunch. Reports yesterday claimed Thomas Cook’s sales had fallen by 33 per cent [...]
Associated Press chief to leave January 23, 2012 Global news network Associated Press (AP) announced yesterday that Tom Curley, president and chief executive since 2003, will step down this year. Curley boosted AP’s move into digital space by overseeing the creation of a digital database featuring AP content available in every format. Curley will continue in his role until a successor is in [...]
Digital consumerism on the up January 23, 2012 Almost two thirds of consumers are willing to pay to stream films online according to the latest media and entertainment survey from KPMG, which brings to light a breakthrough for online TV and movie streaming. While the report shows that the majority of respondents prefer traditional media such as physical books and scheduled TV, smartphone [...]
Revenues rise at bakery group January 23, 2012 Bakery group Finsbury Food yesterday announced its total revenues boomed in the first half of the financial year, passing £102m for the first time in its history. Growth occurred across all the company sectors, with the UK cake division up 10 per cent and “free from” sales increasing eight per cent. However, Finsbury’s operating margin [...]
Apache inks $2.8bn deal for Cordillera January 23, 2012 OIL and gas producer Apache is set to buy privately held Cordillera Energy Partners III for $2.85bn (£1.8bn) in cash and stock, expanding its holdings in one of the most lucrative emerging oil and gas fields in the United States. It is the largest US deal so far in 2012, and the second-largest deal worldwide. [...]
