CITY VIEWS: ARE YOU WORRIED ABOUT COMPANIES LEAVING THE UK? March 8, 2011 CLIVE VAUS | IBM “I wouldn’t want to see jobs go from the UK, but on the other hand if companies can do better business elsewhere then I wouldn’t want to see anyone stopping them doing so. I would prefer them to stay in the country, though.” LUKE CASSAR | UNIVERSITY OF QUEENSLAND “There has [...]
Microsoft to pay $1bn for Nokia tie-up March 8, 2011 MICROSOFT will pay Nokia a staggering $1bn (£620m) upfront to develop handsets designed to run its Windows Phone 7 (WP7) operating system, it is understood. Nokia will reportedly pay Microsoft a royalty fee for each WP7 licence it uses, although the exact figure has not been announced. Nokia chief executive Stephen Elop, a former Microsoft [...]
News Corp ups ante on BSkyB March 8, 2011 NEWS Corp chief operating officer Chase Carey upped the ante yesterday in negotiations to buy BSkyB, claiming his company has already offered a “fair price” of 700p. The BSkyB board has previously hinted it will recommend a bid of over 800p a share but the broadcaster has continued to strengthen its position since then, hitting [...]
THE BEST OF BRITISH FILMS March 8, 2011 PINEWOOD Studios will invest millions over the next few years to support small budget films in the vein of The Full Monty (top right), which has grossed £258m since its release in 1997 on a budget of just £2.1m, or The King’s speech (bottom right), which made £168m with a £5m budget. Bridget Jones’s Diary [...]
Pinewood to invest in British film March 8, 2011 PINEWOOD Studios says it will set aside millions over the next few years to help finance small British films. The firm says it will invest heavily in productions with a budget of around £2-3m, saying it was keen to get involved in the next surprise hit like The King’s Speech. It will snap up a [...]
Pace warning hits share price March 8, 2011 Pace, the world’s biggest maker of set-top boxes, said a US customer was delaying a big order to 2012, reducing its 2011 sales growth and wiping some £100m off its stock market value. The setback overshadowed strong underlying profit growth and an upbeat longer-term outlook, sending Pace shares more than 15 per cent lower as [...]
Vodafone and BT get boost March 8, 2011 Vodafone and BT Group saw their shares surge yesterday after a broker upgrade. They also saw exceptionally high volumes, after getting a boost from a note on the telecoms sector from Morgan Stanley in which they were upgraded. The broker said: “Telecoms is our preferred defensive sector. It offers greater potential for a positive growth [...]
Omega makes shock loss in difficult year March 8, 2011 THE CHAIRMAN of Omega Insurance described 2010 as a “baptism of fire” as the Lloyd’s insurer slumped to a $42.8m (£26.3m) loss yesterday. John Coldman, who was parachuted in a year ago after shareholders ousted his predecessor, said it had taken a $65m hit from catastrophes in the year. But its loss was far bigger [...]
Old Mutual ups profit and looks to further gains March 8, 2011 SHARES in insurance giant Old Mutual rose more than three per cent yesterday after it delivered a 14 per cent rise in 2010 pre-tax profit. The UK and South Africa-focused insurer said earnings and profit were up in all divisions due to strong new business growth and cost controls. Group IFRS pre-tax profit rose to [...]
Shaky times for Kiwi ahead of rates decision March 8, 2011 ON 22 February an earthquake with a magnitude of 6.3 hit the South Island of New Zealand, devastating persons and property in the city of Christchurch. In consequence, the Kiwi slid against the US dollar. Prior to the quake the Reserve Bank of New Zealand (RBNZ) was largely expected to sail a steady course, holding [...]
