Worries for Indian IT on Infosys profits January 13, 2011 INFOSYS Technologies sparked concerns about the outlook for India’s showpiece outsourcing sector after it missed estimates for profit and future sales growth and warned of sluggish global economic growth. best of the brokersShares in India’s number two software exporter, which boasts fatter profit margins than its rivals, fell 4.2 per cent and were set for [...]
PROPERTY NEWS January 13, 2011 REMEMBER THE RIGHT TO MANAGE Leaseholders should “take control” of their properties and stop getting “ripped off” by managing agents, says block management specialists Urban Owners. Over 70 per cent of lease-holding flat owners are unaware of the Right to Manage – government legislation which gives them the right to take over the management of [...]
TNT sells mail units to PE fund January 13, 2011 Dutch post and express firm TNT has sold its Belgian mail and Italian unaddressed mail units to their management and Benelux private equity fund NPM Capital. It has not disclosed the sale price but analysts estimate proceeds would be about one times sales for the Belgian business, which excludes TNT’s Belgian parcel operations, and substantially [...]
Caledon confirms share placing January 13, 2011 Australia’s Caledon Resources confirmed it will propose a share placing, as the Queensland-focused coking coal producer scrambles to repay loans due by the end of February. The company said yesterday it had requested a trading halt on the Australian Stock Exchange, pending an announcement related to a proposed placement. There was market talk that Caledon [...]
BUYING January 13, 2011 MANAGING PARTNER OF BLACK BRICK PROPERTY SOLUTIONS LLP Q.Q: What are your predictions for the 2011 property market? Will there be more stock? When is a good time to buy? A.The prime central London property market has constantly suffered from a shortage of stock, and our advice for potential buyers looking for a home is [...]
TeliaSonera may buy Polkomtel January 13, 2011 Nordic telecoms group TeliaSonera, which has been seeking growth in emerging markets, said it was interested in buying Poland’s biggest mobile operator Polkomtel. Polkomtel has made approaches to potential buyers, launching what could be Europe’s largest buy. Bankers have put a price tag of around €4bn (£3.35bn) on Polkomtel.
Correction January 13, 2011 Yesterday, in an article, City A.M. referred to Jim Pettigrew as chief operating officer of Ashmore. He in fact left this role in October 2007. City A.M. regrets the error.
CITY MOVES | WHO’S SWITCHING JOBS January 13, 2011 City of London Law Society The membership organisation has appointed a new chief executive: David Hobart. He is currently CEO of the Bar Council, in charge of representing barrister members, and has been heavily involved in changes to the law industry since 2007. Before joining the Bar Council, he had a long career in the RAF, [...]
Christmas Star still burning bright! January 13, 2011 CHRISTMAS was lovely, but there was something missing – and I’m not talking about sprouts or brandy butter. Well, that something was Kempton’s King George which was claimed on Boxing Day by the frost and will finally be run tomorrow. Regular readers of this column were advised before Christmas to take the even money available [...]
United set for another away day stalemate January 13, 2011 TOTTENHAM vs MANCHESTER UNITED SUNDAY – 4.10PM SKY SPORTS 1 SOMETHING is going to have to give at White Hart Lane on Sunday afternoon if either Tottenham or Manchester United are going to walk away with a victory. United are still unbeaten in the league this season, while Spurs have lost just once on home [...]
