Megafon rises above $20 as it is fast-tracked into Russia’s MSCI November 29, 2012 SHARES in Megafon, the Russian mobile telecoms group controlled by Arsenal stakeholder Alisher Usmanov, rose above the $20 issue price yesterday on news that the stock would be fast tracked into the main Russian stock market index, the MSCI. Normally the MSCI requires three months of trading history for a company that has just floated, [...]
Critics hit out at Leveson’s plans for press November 29, 2012 BUSINESS leaders and industry bodies warned against government interference in the press yesterday, and urged the newspaper industry to take the initiative in creating a new regulatory framework. Shares in paper owners News Corp, Daily Mail & General Trust, and Johnston Press also rose following Lord Justice Leveson’s report despite worries over state regulation, signalling [...]
Newspapers searching for new way ahead November 29, 2012 WITH David Cameron making it clear that newspapers will have to overhaul the systems that currently regulate the press if they want to ward off legislation, the industry is now scrambling to put forward a new system. All the major newspaper groups, including those outside of current body the Press Complaints Commission (PCC), have backed [...]
Higher bills for a decade due to new energy bill November 29, 2012 CUSTOMERS will see gas and electricity bills rise for at least the next decade to fund a new round of green energy investment, under plans published yesterday by the government. The idea is to encourage investment in low-carbon power production, but the plan could backfire as consumers and small businesses struggle under the burden of [...]
Bramson’s Sherborne floats a new acquisition cash shell November 29, 2012 SHERBORNE Investors, the private equity group founded by Edward Bramson, launched its second cash shell yesterday, in a £207m listing on the Alternative Investment Market. The Sherborne Investors (Guernsey) B vehicle began trading on the junior market yesterday after a float run by Jefferies and HSBC. Bramson, who won control of F&C Asset Management in [...]
Dixons says it will gain from Comet collapse November 29, 2012 THE BOSS of Dixons Retail said he expected to grab a bigger slice of the market following rival Comet’s demise, as it returned to profit in the UK for the first time in five years. Sebastian James said Currys and PC World had not seen “much disruption” from the fire sale of Comet’s stock, as [...]
Dixons steals Comet’s place in the spotlight November 29, 2012 THERE are two kinds of people in this world: winners and losers. And if the contrast between rivals Dixons and Comet’s recent luck is anything to go by, the same looks to be true of companies. Luckily for Dixons, it looks like Comet’s demise has put the firm’s star firmly in the ascendant. Its shares [...]
Monitise in talks to raise up to £100m November 29, 2012 BRITISH mobile banking technology company Monitise confirmed yesterday it was in discussions with institutional and strategic investors to raise up to £100m. The company said the proceeds would be used to fund new mobile banking and commerce opportunities for financial institutions and payment companies. “Our business is seeing enormous demand for Mobile Money services,” said [...]
What are Kingfisher’s growth prospects? November 29, 2012 JAMES GRZINIC JEFFERIES Kingfisher confirmed deteriorating French and Polish demand, with B&Q’s UK sales also subdued. On a more positive note, a resumption in gross margin shows how self-help is an important driver to offset macro challenges. FREDDIE GEORGE SEYMOUR PIERCE The results were broadly in line with expectations…We continue to be concerned that the [...]
Kingfisher hit by French woes November 29, 2012 THE CHIEF executive of Kingfisher said uncertainty over the French government’s future tax policies had hit consumer confidence in its largest market, as it posted a six per cent drop in third quarter profit. The group, which runs B&Q and Screwfix in the UK as well as Castorama and Brico Depot in France, reported profits [...]
