BlackBerry maker warns of profit fall March 24, 2011 SHARES in BlackBerry maker Research in Motion (RIM) fell 12 per cent in after hours trading yesterday after it cut its earnings forecast for the current quarter due to heavy investment in its new products. Ontario-based RIM delivered a $934m (£572m) net profit or $1.78 earnings per share in its fourth-quarter, which ended in February, [...]
Hart boosted by absence of Wales star March 24, 2011 MANCHESTER CITY goalkeeper Joe Hart admits Gareth Bale’s absence from tomorrow’s Euro 2012 qualifier has enhanced England’s chances of leaving Cardiff with a vital win. Bale has returned to Tottenham after failing to recover from a hamstring strain and Hart believes Wales will struggle to replace the winger who has been in such inspired form [...]
Accenture boosts earnings forecasts March 24, 2011 SHARES in management consultancy Accenture rose 5.3 per cent to $54.73 (£33.55) in after hours trading yesterday after it said high client demand would boost its full-year revenue and earnings forecasts. Bookings in stood at $6.98bn, up from $6.3bn the previous quarter, chief executive Pierre Nanterme said. Revenue in the second-quarter, to the end of [...]
Moody’s cuts Spanish ratings March 24, 2011 CREDIT rating agency Moody’s downgraded 30 of Spain’s smaller banks yesterday over concerns the nation’s high sovereign debt may prevent it from bailing them out in future. It cut the ratings of 15 banks’ senior debt and deposit ratings by two notches and five by three or four, it said, with most banks’ outlook negative. [...]
India defeat holders Australia March 24, 2011 CRICKET: India will face Pakistan in an eagerly anticipated World Cup semi-final after knocking reigning champions Australia out yesterday. Yuvraj Singh’s 57 not out helped India to a five-wicket victory in Ahmedabad, despite Ricky Ponting’s first century for 13 months. Sachin Tendulkar (53) and Gautam Gambhir (50) also made key contributions with the bat as [...]
Universities primed for race March 24, 2011 BOAT RACE: Cambridge will be looking to defend their title when they renew hostilities with Oxford in the 157th Boat Race tomorrow. The Light Blues are the favourites, with a heavier, older crew, but the Dark Blues are marshalled by experienced coach Sean Bowden, who has masterminded seven Oxford wins in a decade. Fans can [...]
Aviva puts RAC arm up for sale March 24, 2011 ROADSIDE rescue business RAC has been put up for sale by its insurance owner Aviva as it divests non-core parts of the company. The RAC’s value has been placed at about £600-700m, just over half the £1.1bn Aviva paid for it in 2005, after a series of sell-offs of its parts, including the BSM driving [...]
Matthew in Canary Wharf final March 24, 2011 SQUASH: World No1 Nick Matthew will face fourth seed Peter Barker in today’s final of the ISS Canary Wharf Squash Classic after both came through semi-finals last night at East Wintergarden in Canary Wharf. Barker saw off England team-mate James Willstrop in an epic clash before compatriot Matthew progressed when his opponent, Frenchman Gregory Gaulthier, [...]
WAGAMAMA SNAPPED UP March 24, 2011 JAPANESE noodle bar chain Wagamama was yesterday gobbled up by private equity firm Duke Street for £215m, sources told City A.M. Seller Lion Capital had owned the chain since 2005, more than doubling its UK presence. Hutton Collins and lenders GE Capital, Lloyds and Investec provided additional capital to fund the deal.
Soaring inflation will worsen cuts, says IFS March 24, 2011 HIGH inflation will deepen spending cuts that the government is banking on to reduce the UK’s deficit, the Institute for Fiscal Studies (IFS) said yesterday. While departmental spending, in real terms, allowing for inflation, was due to be cut by an average of 11.2 per cent over four years according to October’s figures, cuts are [...]
