Facebook is UK’s second favourite site June 27, 2011 FACEBOOK overtook Microsoft websites in Britain for the first time last month, becoming the UK’s second-most popular after Google as people aged over 50 flocked to social networks, online measurement body UKOM/Nielsen said. Facebook attracted a record 26.8m visitors in Britain in May, up seven per cent year on year, beating the 26.2m who visited [...]
Tobacco firm to sue over Aussie packaging plans June 27, 2011 TOBACCO giant Philip Morris is threatening to sue the Australian government for possibly billions of dollars over its plan to be the first country to introduce plain, brand-less packaging for cigarettes. The tobacco firm is fearful that plain packaging will damage its cigarette brands like Marlboro and Alpine and reduce their ability to compete against [...]
World’s largest paint maker sees stock plummet after issuing profit warning June 27, 2011 AKZONOBEL, the world’s largest paint company, warned yesterday that core second-quarter profit will fall due to a sharp rise in raw material prices and weak demand in key European and US construction markets. The profit warning sent AkzoNobel shares tumbling to their lowest level since December and weighed on other chemical producers such as Clariant, [...]
Nissan in bid to lift market share with new vehicles June 27, 2011 NISSAN Motor yesterday outlined plans to boost both its global market share and profit margin to eight per cent within six years, promising a new vehicle every six weeks on average to woo consumers away from rivals. The new mid-term business plan, dubbed Nissan Power 88, will focus on the major emerging markets of Brazil, [...]
Porvair lifts profit and outlook June 27, 2011 Porvair posted a 27 per cent rise in first-half profit, driven by a strong performance from its metals filtration and microfiltration businesses, and raised its full-year forecast. Porvair, which makes filtration and separation equipment for aviation, energy and environmental technology businesses, said its order book had steadily increased over the first half of the year [...]
Cohort wins UK defence contract June 27, 2011 A rise in profits and a contract win have helped defence technology group Cohort narrow what its chief executive sees as the unjustified gap between its share price and the company’s real value. Pre-tax profits in the year to 30 April climbed to £4.9m from £4m the previous year even as revenues slipped to £65.1m [...]
NAV up at City of London Group June 27, 2011 City of London Group, the financial services group centred on specialist financing and alternative fund management, saw its net asset value (NAV) per share jump by 13.4 per cent last year. NAV per share at the end of March stood at 87.8p, up from 77.4p a year earlier. In the year to 31 March the [...]
CITY MOVES | WHO’S SWITCHING JOBS June 27, 2011 CB Richard Ellis The commercial real estate adviser has appointed Sir Michael Lyons and Sir Andrew Foster as strategic advisers to strengthen the government & infrastructure team’s expertise in public sector assets and infrastructure. Foster, a former chief executive of the Audit Commission, is currently deputy chairman of the Royal Bank of Canada. Lyons, who [...]
BEST OF THE BROKERS June 27, 2011 ITV Credit Suisse rates the media firm “outperform” with a target price of 100p. The broker has trimmed it ad sales growth forecasts to two per cent, down from 4.4 per cent, owing to gloomier macro conditions expected towards the end of the year. However, Credit Suisse still expects to see £230m underlying earnings for [...]
FTSE closes up as banks and commodity shares rebound June 27, 2011 BRITAIN’S leading share index ended higher yesterday, supported by a rally from commodity issues and banks as investors awaited news about Greece’s debt crisis, expected over the next few days. Greece’s parliament began to debate measures to increase taxes and cut fiscal spending, approval for which is needed for the European Union and International Monetary [...]
