Maersk sees slow growth August 17, 2011 DENMARK’S AP Moller-Maersk saw its half-year profits rise eight per cent, beating analyst forecasts, despite a steep fall in profits at its core shipping division. The group, whose Maersk Line is the world’s biggest container shipper and a barometer of global trade, posted pre-tax profits of $6.1bn (£3.7bn), up from $4.82bn a year ago. Its [...]
Income and net asset values up at CLS Holdings August 17, 2011 CLS Holdings, the international property investment company, saw profits jump by a third in the first half of the year, benefitting from investments spread across four European property markets and three currencies. The firm, which owns properties in London, Germany, Sweden and France, said pre-tax profits rose by 32 per cent to £37.1m in the [...]
Flybe passenger traffic rise fuels lift in revenues August 17, 2011 THE number of passengers travelling with Flybe increased in the second quarter of the year, the airline said yesterday. In the three months to 30 June, the carrier saw passenger numbers rise by 7.7 per cent to 1.98m. In a tough economic climate Flybe also saw revenue increase by 8.3 per cent to £160.4m. Revenue [...]
Tudou manages to float but its shares plummet August 17, 2011 SHARES of Chinese online video company Tudou Holdings fell in their stock market debut yesterday after the company became one of the few IPOs to actually price and begin trading amid tumultuous markets. The Nasdaq-listed shares closed at $25.56, or 11.9 per cent below the float price. The IPO of 6m American Depositary Shares priced [...]
South Korea strikes gas deals with Shell and Total August 17, 2011 SOUTH Korea announced long-term agreements yesterday worth $84bn (£50.8bn) with Royal Dutch Shell and Total to buy gas from liquefied natural gas projects in Australia. Asia’s largest economies are competing for Australia’s rapidly growing supplies of LNG to secure the energy to fuel expansion. South Korea, the world’s second-largest buyer of LNG after Japan, needs [...]
TAXI TYCOON RETURNS FOOT MESSENGERS TO SQUARE MILE STREETS August 17, 2011 HAS THE City returned to 1975? Foot messengers, once a familiar sight on the streets of the Square Mile before computers killed them off, returned this week to deliver documents by hand as “the most environmentally friendly couriers in town”. Harbottle and Lewis, SJD Accountancy and Maxxim Consulting all signed up for the service, which [...]
Lookers sees flat profit as it eyes a sale August 17, 2011 CAR dealer and parts supplier Lookers, which was in offer talks with a consortium led by investor Jack Petchey recently, said it was no longer in discussions with anyone, but was still open to selling the group. The update came as the company posted a pre-tax profit of £22.6m in the half year to June [...]
Unilever invests in new areas August 17, 2011 CONSUMER goods group Unilever expects to see three-quarters of its turnover from emerging markets by 2020 as heavy investment in these fast-growing regions and sluggish growth elsewhere take effect. “Europe and the US will be, for the next 10 years, low-growth territories, I’m afraid. So, soon we will have 75 per cent of our turnover [...]
Pendragon underwriters hit as shares left unsold August 17, 2011 A THIRD of car dealer Pendragon’s £75.2m rights issue was left on the books of underwriters as the turbulence in the markets took its toll. The rights issue was part of a financial restructuring led by chief executive Trevor Finn. When Pendragon announced the nine-for-eight issue of new shares at 10p a share in mid-July, [...]
Target beats forecasts as its summer sales perk up August 17, 2011 US RETAILER Target reported a bigger-than-expected rise in quarterly profit and forecast a more profitable year than analysts were anticipating yesterday, as its credit card business continued to grow and sales picked up as the summer progressed. Target has more than 1,760 US stores and is getting ready to open stores in Canada. Target has been adding [...]
