GOOGLE MOBILE TO BRING MOST REVENUE September 28, 2010 GOOGLE expects mobile searches to generate most of its revenue eventually, but it could take a long time despite growing at a rapid clip, said chief executive Eric Schmidt yesterday. Searches made on Android-based smartphones and other mobile devices are growing but will remain immaterial to its bottom line for some time, he said.
ITV offloads 50pc stake in Screenvision September 28, 2010 ITV has offloaded its 50 per cent stake in cinema advertiser Screenvision to US private equity fund Shamrock Capital for $80m (£50m). ITV chief executive Adam Crozier called the deal an “important step” for the firm as it works to consolidate its broadcasting empire. He said the deal fits into ITV’s “transformation plan to focus [...]
DMGT sees jump in market share as its CFO stands down September 28, 2010 DAILY Mail & General Trust (DMGT) received a welcome boost from its flagship Daily Mail newspaper yesterday, which reported robust trading amid a gain in market share. DMGT said that advertising revenues at its national newspaper division have risen by 13 per cent year-on-year in the past three months. Print revenues at Associated Newspapers, home [...]
RIM goes toe-to-toe with Apple’s iPad September 28, 2010 BLACKBERRY maker Research In Motion (RIM) finally launched its much anticipated tablet PC this week. In his keynote speech, chief executive Mike Lazaridis shied away from direct comparisons with Apple. That, however, hasn’t stopped the technology world from staring straight at the elephant in the room: can the Playbook compete with the iPad? At first [...]
CITY VIEWS: WHICH DEVICE DO YOU THINK WILL WIN THE TABLET WARS? September 28, 2010 ALEX GADEMANN | FOREX.COM I already own an iPad. It was the first time I bought an apple and I bought it because of the novelty. If you put me in the same place with the two products I would definitely look at what Blackberry has to offer. SARAH RICKWOOD | AVIVA I have a [...]
Michelin aims to raise £1bn in growth bid September 28, 2010 FRENCH tyremaker Michelin has unveiled a deeply discounted €1.2 bn (£1.02bn) rights issue to fund growth in booming emerging markets and set new long-term sales and profit goals. Michelin said yesterday it was now targeting operating profit before non-recurring items clearly above €2bn by 2015, a 25 per cent increase in sales volumes by 2015, [...]
BHP pulls out of Falklands JV September 28, 2010 SHARES in Falkland Oil and Gas lost over a fifth of their value in a single day yesterday after the oil and gas explorer said BHP Billiton had pulled out of a joint venture drilling project in the Falkland Islands. Falkland Oil and Gas said BHP had elected not to enter the second phase of [...]
Air traffic growth slows down as economies stall September 28, 2010 GROWTH in air traffic slowed noticeably in August as this year’s rebound from the economic downturn lost steam, the International Air Transport Association(IATA) said yesterday. Passenger traffic in August was 6.4 per cent higher than a year earlier, against a 9.5 per cent year-on-year increase in July, and freight traffic was 19.6 per cent higher [...]
Aegon makes more cuts to UK business September 28, 2010 DUTCH insurer Aegon will close two more operations in the UK and cut jobs to improve profitability in its fourth-largest market. Aegon, which warned in June it planned to cut 25 per cent of its British costs in the coming year, said it will close its third-party pension administration and employee benefits software businesses. The [...]
CITY MOVES | WHO’S SWITCHING JOBS September 28, 2010 Insurance Institute of London The IIL has elected Stephen Catlin, the chief executive of the Catlin Group, as its new president, taking over from Willis group president Grahame Millwater. Catlin, who founded the insurer in 1984, has also previously served as chairman of the Lloyd’s Market Association and a member of the Lloyd’s Franchise Board. [...]
