Bookies raise a glass to the surprise new Bank governor November 26, 2012 FOLLOWING the announcement yesterday that Canadian candidate Mark Carney is the new chosen one at the Bank of England, bookies have wasted no time in setting odds on his reign as governor. Ladbrokes has set odds of 8/1 that Carney will authorise a greater volume of quantitative easing than his predecessor. They also make interest [...]
Betfair is cashing out of Greece over crackdown November 26, 2012 BETFAIR has pulled out of Greece in its second European exit in a month, citing the threat of sanctions from the country’s gambling authorities. The exchange betting operator has been trading without a licence in the country, claiming that Greek gambling laws violate EU ones. Earlier this month the Greek Gambling Commission announced a clampdown [...]
YouView sued by Yorkshire telecoms group in trademark name dispute November 26, 2012 YOUVIEW, the internet-connected set top TV box company backed by BT and the BBC, has been sued in the High Court for trademark infringement, and may have to face a hefty payout or change its name. The lawsuit, from Yorkshire-based telecoms firm Total, comes after YouView lost an appeal to have its name trademarked. Two [...]
Quintain pushes forward in Greenwich as asset values fall November 26, 2012 QUINTAIN moved a step closer to realising its giant Greenwich Peninsula scheme after announcing yesterday it has submitted plans for the first 500 homes on the site. The developer secured a £300m investment in June from Hong Kong billionaire Henry Cheng, helping to kick-start the 150-acre project, which will see 10,000 homes built on the [...]
International Greetings on track November 26, 2012 International Greetings, the maker of wrapping paper, cards and children’s party bags, said sales and underlying profits for the six months to 30 September were on track to meet City expectations, boosted by strong growth in the US. The UK-listed group is gearing up for the festive season and has made over 65m Christmas crackers [...]
McGraw-Hill sells textbook arm November 26, 2012 US financial services and publishing firm McGraw-Hill said yesterday it will sell its educational publishing unit to buyout firm Apollo Global for $2.5bn (£1.6bn), ending talk of the business being spun off as a public company. The sale completes a shift for the 124-year-old firm, which has published educational textbooks for nearly a century. As [...]
Samsung finds labour failures November 26, 2012 Korean electronics giant Samsung said yesterday it had found evidence of “several instances of inadequate practices” at its suppliers in China. An internal audit of working practices at 105 Chinese suppliers found repeated examples of excessive working hours and incorrect contracts. The company, which is now investigating further factories, said it would remedy the failures. [...]
Glaxo heats up move towards drinks markets November 26, 2012 BRITAIN’S largest pharma company is hoping to spend over half a billion pounds expanding into consumer markets in India and Nigeria, where it earns significant revenue from the highly popular Horlicks drink. GlaxoSmithKline (GSK) announced yesterday a £591m offer to boost its stake in its Consumer Healthcare subsidiary in India, along with a £62m bid [...]
Profit warning knocks £30m off troubled software company SDL November 26, 2012 TRANSLATION software company SDL saw more than £30m wiped off its value yesterday after posting a surprise profit warning. When chief executive John Hunter was shown the door earlier this month, interim boss Mark Lancaster conducted an internal review of the business. Yesterday the company revealed that it expected profits £3m-£4m – up to 10 [...]
Cranswick profits jump as pig prices passed on to customers November 26, 2012 CRANSWICK, the sliced meat and sausage-maker, yesterday reported a 21 per cent rise in half-year profits as it succeeded in passing higher pork prices onto its customer. The Yorkshire-based group warned last month that UK prices were at a three-month high and would continue rising because of high livestock feed prices and the introduction of [...]
