Petra results sparkle after stone sale September 20, 2010 PETRA Diamonds announced record pre-tax annual profits of $70.2m (£45.1m) yesterday, in a remarkable turnaround from the losses of $89m it announced in2009. Gross revenue at the mining company also increased to $177.7m for the year, up 88 per cent on the $94.4m recorded in the 12 months to 30 June 2009. The mining company, [...]
Petra September 20, 2010 DIAMONDS are a shareholder’s best friend. Yesterday’s prelims from Petra cap a year that has been full of positives. A six per cent increase in gross production to 1.16m carats a year and a bigger stake in the Cullinan mine, from 37 per cent to 74 per cent, were the main underlying factors. But it [...]
Unite to wage legal war on BA in courts September 20, 2010 TRADE union Unite is preparing to wage a legal war on British Airways (BA) as the fight between the two gets set to hit the courts once again. Unite is to launch a legal battle at the High Court this week over the removal of travel perks for up to 7,000 cabin crew who went [...]
Flybe looks at expansion after profitable year September 20, 2010 FLYBE, the UK’s largest domestic airline, has flown back into profit despite the damaging effects of the recession on the commercial aviation industry and has set its sites on expansion in Western Europe. Pre-tax profit excluding one-off items in the year to 31 March 2010 came to £5.7m, marking a rise from last year when [...]
Caan eyes luxury houses as he teams up with K10 September 20, 2010 James Caan, the entrepreneur best known for his role in the BBC TV programme Dragon’s Den, has joined forces with Kam Babaee of K10 Developments to launch Hamilton Bradshaw Real Estate (HBRE). The new venture aims to combine Caan’s investment insight with the K10 Developments’ experience in high-end central London development to become the market [...]
IBM bids $2bn for analytics firm Netezza September 20, 2010 IBM yesterday said it will buy data analytics company Netezza for $1.7bn (£1.1bn) in a bid to expand its technology services business. It hopes the acquisition will help its clients more expertly analyse market information as it shifts its focus from computer hardware to higher-margin software and services. The deal values Netezza at $27 per [...]
Clipper in talks with UTC over possible takeover September 20, 2010 Wind turbine maker Clipper Windpower is in talks with major shareholder United Technologies Corp (UTC) over a takeover or financing deal as it seeks additional capital to continue operating. Clipper, which is burning through cash, said UTC had indicated it would be willing to acquire the remaining shares in Clipper it does not already own, [...]
HP and Oracle sign agreement over transfer of Mark Hurd September 20, 2010 HEWLETT-PACKARD said yesterday it has settled a legal dispute over Oracle’s hiring of Mark Hurd. The companies did not disclose the terms of the settlement, but said in a joint press release that, “Hurd will adhere to his obligations to protect HP’s confidential information while fulfilling his responsibilities at Oracle.” In a filing with the [...]
Retail chiefs in call for rates shake-up September 20, 2010 RETAIL chiefs have demanded that the government changes the way it calculates business rates to help struggling shops to stay afloat. The current rate is partly based on September’s Retail Price Index (RPI) which is expected to be around four per cent. But the British Retail Consortium (BRC) has called on the coalition to find [...]
Foster’s wine in the sights of US private equity businesses September 20, 2010 PRIVATE equity firms Kohlberg Kravis Roberts and TPG have held early talks about teaming up to bid for the wine unit of Australian brewer Foster’s. The pair are yet to decide whether to proceed either together or separately, according to reports in Australia. In 2007, KKR and TPG united to take Texas-based Energy Future Holdings, [...]
