DILLER STEPS DOWN AT LIVE NATION September 29, 2010 BARRY DILLER, the US media mogul, has stepped down as chairman of Live Nation Entertainment, the world’s largest concert ticketing company. Diller, 68, became chairman after the February merger of Live Nation and Ticketmaster Entertainment. He was chairman of Ticketmaster through his role as chairman and chief executive of IAC/InterActiveCorp internet media company. He said: [...]
LSE trading volumes begin to fall away September 29, 2010 THE LONDON Stock Exchange yesterday said in a trading update it had maintained market share in its key UK business over the first half, with the value of equities traded up 12 per cent, though volumes declined in the second quarter. The LSE was boosted by its Italian subsidiary Borsa Italiana, which saw traded equities [...]
BA’s tie-up with AA and Iberia is ready for take-off September 29, 2010 BRITISH Airways (BA) will officially launch its new joint business with American Airlines (AA) and Iberia next month in a move that is expected to generate $7bn (£4.4bn) in combined revenue a year. The deal, which was given the green light by EU and US competition regulators in July, will generate annual savings of up [...]
Scottish and Southern ready to up dividend September 29, 2010 SCOTTISH and Southern Energy is on track to hike its dividend by at least two per cent above inflation this year, the firm said in a trading update. The gas and electricity provider promised to raise its dividend payments above the retail price index measure of inflation, as well as maintaining dividend coverage. Scottish and [...]
FIRSTGROUP ON TRACK FOR GROWTH September 29, 2010 FIRSTGROUP said yesterday it was on track to deliver moderate earnings growth for the full-year thanks to cost cuts and improved passenger revenues. FirstGroup, which last week said chief executive Moir Lockheed (pictured) would step down later this year to be replaced by former London Underground boss Tim O’Toole, said it had been trading in [...]
Babcock says it will hit its targets despite slowdown September 29, 2010 SUPPORT services group Babcock International said yesterday it will hit targets for the first half of the year despite a slowdown in the number of contracts coming to tender in the UK. Babcock, which maintains Royal Navy submarines, said a review of defence spending should boost demand for outsourcing, driving forward momentum. It also said [...]
Government to meet suppliers to discuss cuts September 29, 2010 FRANCIS Maude, the Cabinet Office minister, will hold discussions on Friday with major defence, IT and other equipment suppliers aimed at shaving billions of pounds from its annual procurement bill. Companies such as Balfour Beatty, Carillion, Cisco Systems, Deloitte, Ernst & Young, KPMG, Slaughter & May and Tata Consultancy Services are expected to be at [...]
ANALYST VIEWS: WHAT DO BABCOCK’S FIGURES MEAN FOR INVESTORS? September 29, 2010 MIKE MURPHY | NUMIS “Babcock remains ‘confident’ of achieving the VT merger benefits which we believe help underpin short term earnings and they are positive the government’s need for more outputs at lower costs should ensure a steady, if not a rush, of new contracts in the medium term which should underpin earnings momentum.” CHRIS [...]
CITY VIEWS: DO YOU THINK DEFENCE SHOULD BE SPARED FROM PUBLIC SPENDING CUTS? September 29, 2010 LUKE PROCTOR | AON “Yes – this is essential if we are to retain our international presence and sovereignty. Defence along with healthcare and international aid are the key priorities and should definitely be relieved of further funding pressures.” EDD LANE | CREDIT SUISSE “All areas of government spending need to be examined, and defence [...]
Vedanta shares take a tumble after legal blow September 29, 2010 VEDANTA RESOURCES, the FTSE 100-listed mining group, yesterday said that its Sterlite Industries subsidiary has been ordered by the Madras High Court to close down a copper-smelting plant on environmental grounds. The announcement sent Vedanta’s lower, eventually 5.5 per cent down at £21.65. Analysts at Liberum Capital said that the suspension of the smelter might [...]
