After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
GM invests $2bn in its plants May 10, 2011 General Motors (GM) said yesterday it will invest about $2bn (£1.2m) in 17 US plants, including a facility here that makes transmissions for small cars, as the automaker shifts from recovery mode to investing in future products. GM said the plans will create or preserve more than 4,000 jobs as it retools the plants in [...]
TUI narrows losses with overseas boost May 10, 2011 TUI Travel, Europe’s biggest tour operator, yesterday said it was on track to meet full-year expectations as increased demand for alternative destinations offset the impact of unrest in Egypt and Tunisia. The FTSE 100 company, majority owned by German group TUI AG, said disruption from troubles in Egypt and Tunisia had knocked £29m off first-half [...]
IHG enjoys sales rise due to US business travellers May 10, 2011 INTERCONTINENTAL Hotels Group (IHG) has lifted first-quarter profit by more than a third, welcoming back the US business traveller and pointing to stronger bookings and higher room rates for the rest of the year. The world’s biggest hotelier, which operates Holiday Inn, Crowne Plaza as well as InterContinental brands, said the United States posted its [...]
N Brown dividend up as profit jumps May 10, 2011 HOME shopping business N Brown yesterday posted another year of growth, despite difficult trading conditions. The retailer, which has brands including High and Mighty, Figleaves, Jacamo and Simply Be, reported revenues of £718m for the year to 28 February, up 4.2 per cent. Pre-tax profits were boosted by 5.5 per cent to £98.2m. The company [...]
Tesco appeals to aspirational customer base May 10, 2011 TESCO plans to create new brands to spruce up its product ranges and appeal to increasingly aspirational shoppers across the world, its new chief executive said yesterday. Phil Clarke, outlining his strategy, said Tesco would be online in all 15 of its markets this decade and, while it would continue to expand rapidly in its [...]
Easyjet blames earnings hit on an increase in fuel prices May 10, 2011 EASYJET yesterday said it had seen its first-half losses almost double as it struggled to put a lid on the impact of higher fuel prices. Europe’s second largest low-cost airline by passenger numbers said pre-tax losses rose 94 per cent to £153m in the six months to the end of March, compared with £79m in [...]
Punch picks top execs May 10, 2011 PUNCH Taverns has appointed Roddy Murray as finance director for its managed Spirit division, which is due to be demerged later this year. Murray will join the group on 23 May and sit on the Spirit board. He joins from the BSS Group — a plumbing equipment supplier — where he was group finance director [...]
Pendragon drives forward May 10, 2011 Car dealership group Pendragon said yesterday its first-quarter key indicators were ahead of forecasts. In an interim management statement for the period to 31 March, the group said aftersales turnover declined marginally but gross profit margin improved by 280 basis points. Used car volumes were up 15.6 per cent on a like-for-like basis, outperforming a [...]
Foster’s wine spin-off thrives May 10, 2011 Australia’s Foster’s Group and its unit Treasury Wine Estates just grew more expensive for potential suitors, following a strong debut for the wine group on the Australian bourse yesterday. Foster’s spun off Treasury Wine Estates to its shareholders to boost value. The world’s second-largest wine company ended its first day on the board with a [...]
Profit surge lifts Imperial Tobacco stock May 10, 2011 SHARES in Imperial Tobacco rose 3.1 per cent yesterday, after the world’s fourth-biggest cigarette maker beat forecasts with first-half earnings growth, and announced a £500m share buyback. The Bristol-based company posted adjusted earnings for the half-year to the end of March of 88.4p a share, beating consensus expectations of 87.8p. The half-year dividend is up [...]
