AstraZeneca sells its dental arm for £1bn June 22, 2011 ASTRAZENECA has sold its dental implants and medical devices unit for $1.8bn (£1.12bn) to US company Dentsply. Dentsply, which beat off bids from rival medical technology groups and private equity firms, said yesterday the purchase of Astra Tech would increase its revenue by about 25 per cent and boost its earnings immediately. Shares in the company [...]
PROPERTY FIRM OF THE YEAR | THE SHORTLIST DAY 4 June 22, 2011 The property sector has experienced mixed fortunes this year. While work on record-breaking skyscrapers has really picked up the pace, other projects have been left unfinished or even empty once completed. London has continued to enjoy the best conditions for investing and developing real estate – with nominees British Land, Land Securities and Heron among [...]
ANALYST OF THE YEAR June 22, 2011 IT TAKES strong-minded individuals with deep knowledge of the sectors they cover to make calls that challenge popular thinking, but the five thinkers on CITY A.M.’s shortlist for Analyst of the Year have won respect for going against the grain – whether being sane on the Glencore IPO or criticising the Bank of England’s interest [...]
Imagination grows sales June 22, 2011 APPLE supplier Imagination Technologies saw its stock slip yesterday despite announcing that its revenues hit nearly £100m. The chip designer, which supplies to shareholders Apple and Intel, posted an 80 per cent rise in pre-tax profit after doubling the amount of microprocessors it shipped. It made £24m profits on 21 per cent higher revenues of [...]
Jellybook wobbles on its maiden day June 22, 2011 JELLYBOOK endured a shaky start to life on the alternative investment market yesterday, after its successful initial public offering (IPO) this month. It floated for 10p a share, raising nearly four times the £3m initially slated. But yesterday it was trading for as little as 8.75p, a drop of 12.5 per cent. It peaked at over [...]
LulzSec suspect is charged over corporate hacks June 22, 2011 POLICE yesterday charged 19-year-old Ryan Cleary with a string of computer related offences after a joint swoop by Scotland Yard and the FBI. He is suspected of having ties with the LulzSec hacking collective, which has targeted high-profile websites including Sony, Nintendo, the IMF, the CIA and, on the day Cleary was arrested, the London-based [...]
ANALYST VIEWS: IS A BITE OF THE APPLE ENOUGH FOR IMAGINATION? June 22, 2011 DANIELA VENTRONE | MATRIX Competition is heating up, leading to market-share losses and average selling price pressure. This is not reflected in market expectations, in our view. Rival ARM’s Mali is seeing important design wins. ALEX JARVIS | PEEL HUNT The fundamental risk factor with Imagination is its market share outlook, where there are more [...]
Premier wins deal clearance June 22, 2011 Premier Foods has won competition clearance for its £182m asset sale to Princes, though the Office of Fair Trading has imposed conditions. Premier Foods agreed to sell its canned business, which includes the Fray Bentos and Crosse & Blackwell brands, back in February. The OFT has ordered the divestment of Fray Bentos and some manufacturing [...]
GKN Driveline invests in hybrid June 22, 2011 Automotive driveline system provider GKN Driveline has teamed up with EVO Electric to manufacture and sell products for hybrid and all-electric vehicles. GKN plans to invest £5m in the venture, made up of both debt and equity. GKN will also acquire 25.1 per cent of Imperial Innovations Group-backed EVO Electric. The venture will be headquartered [...]
Aggreko to power Tanzania June 22, 2011 Temporary power supplier Aggreko has sealed an estimated £23m contract with the Tanzania Electric Supply Company to supply emergency power to drought-stricken Tanzania. Aggreko is to provide two 50 megawatt diesel-powered plants at Ubungo and Tegeta for a 12-month period and will also manage the fuel supply generated. Tanzania’s power output had been badly affected [...]
