Huawei deal puts firm on the UK map May 9, 2011 HUAWEI yesterday announced a deal to enhance the 2G network of Everything Everywhere, a move that brings it closer to realising its ambition of becoming a major player in the UK. The four-year contract with the combined T-Mobile and Orange venture will allow faster mobile services over the network. It will allow Everything Everywhere to [...]
CSR’s Zoran deal is rocked by warning May 9, 2011 MICROPROCESSOR firm CSR’s $679m (£415m) takeover of Zoran could be scuppered after the video chipmaker was forced to issue a warning on its revenues yesterday. Zoran has been hit by the Japanese earthquake and the decision by customer Cisco to stop making the Flip video camera, which uses its processors. The US-based firm now expects [...]
Inmarsat profits jump on growth in maritime arm May 9, 2011 Satellite operator Inmarsat reported a 23 per cent rise in first-quarter profit yesterday, boosted by growth in its maritime unit. The news eased concerns about its performance after a badly received statement in March, which sent its shares tumbling. The provider of telecoms services to ships, aircraft, military and aid services in remote areas said [...]
Telecity upbeat on good demand May 9, 2011 Data-centre firm Telecity Group yesterday reiterated a positive outlook for the full-year on strong European demand, and said it saw opportunities for small acquisitions in the region. The group, which operates 24 data centres across major European cities, said yesterday it got an additional £100m of debt financing, taking its total credit facility to £300m. [...]
Micro Focus gains on update May 9, 2011 Micro Focus International gained 3.7 per cent to head Britain’s FTSE 250 risers yesterday after the IT firm issued a reassuring trading update. Micro Focus said its revenues and adjusted pre-tax profits for the 12 months ended 30 April were in line with market consensus. Micro Focus said on 26 April that it had received [...]
RTL down on slow TV ad sales May 9, 2011 Europe’s biggest commercial broadcaster RTL Group posted a decline in first-quarter core profit yesterday due to a sluggish TV advertising market in Germany and higher investments in new programmes. Sales in the Netherlands and France grew significantly but those in Germany, Europe’s biggest TV market, were down, it said.
Serco bullish on the public sector May 9, 2011 OUTSOURCING giant Serco has said it is on track with its 2011 expectations after contract wins and is well-placed to achieve future revenue targets. Serco, which among other things runs London’s bicycle-hire scheme and Yarl’s Wood immigration removal centre, said yesterday it had won £1.6bn worth of work since the start of the year. The [...]
Lonmin says 2011 sales are on track May 9, 2011 PLATINUM producer Lonmin said operating profit more than doubled in the first half and reaffirmed its closely watched 2011 sales guidance, provided it can avoid safety stoppages that have hampered production. Analysts had been concerned that the group could cut its 2011 target of 750,000 platinum ounces after it suffered increased safety stoppages, like many [...]
MGM China bids to raise $1bn in IPO May 9, 2011 MGM China, the joint venture between MGM Resorts International and casino mogul Stanley Ho’s daughter Pansy Ho, has started pre-marketing for an initial public offering in Hong Kong expected to raise between $1bn and $1.5bn. MGM China kicked off its marketing campaign for potential investors after it passed through a listing hearing in Hong Kong, [...]
Fresnillo claims victory in mining dispute May 9, 2011 FRESNILLO, the world’s largest primary silver producer, said an arbitration panel had rejected the principal demands of MAG Silver, its joint venture partner at the Juanicipio project in Mexico. The panel rejected MAG’s claims that the FTSE 100 miner was deficient in the execution pace or performance of drilling at the exploration project, Fresnillo said. [...]
