Foxconn workers taken sick July 27, 2010 Foxconn International suspended operations at a mobile phone parts manufacturing facility in India after workers became sick, but it said the incident would not affect its business. The company said about 250 workers at its facility in Tamil Nadu near Chennai “experienced sensations of giddiness and nausea” while working in the facility and were treated [...]
Informa beats forecasts July 27, 2010 Business media group Informa said rebookings for 2011 events were up nine per cent after a 1.5 per cent fall in the first half of 2010. Informa’s total revenues were down 0.5 per cent organically to £624m in the first half of the year, after it culled about 500 marginal and less profitable products and [...]
ANALYST VIEWS: WHAT DO OFCOM’S FINDINGS MEAN FOR CONSUMERS? July 27, 2010 ED RICHARDS | OFCOM Ofcom’s research shows that average speeds have increased, which is good news. But actual speeds are often much lower than many of the advertised speeds which makes it essential that consumers are given information which is as accurate as possible at the point of sale. RICHARD HUNTER | HARGREAVES LANSDOWN The [...]
Luxury auto firms enjoy jump in sales July 27, 2010 LUXURY car-makers Daimler and Audi said a surprise jump in demand will drive profits for the rest of the year, in separate updates yesterday. Daimler expects rising sales of its most expensive Mercedes-Benz models to push operating profit to €6bn (£5bn), its best result since the auto industry boom peaked three years ago. The German [...]
Offshore drilling bill diluted July 27, 2010 US Senate Democrats unveiled a slimmed down bill yesterday aimed at reforming offshore drilling, as doubts grew that Congress would be able to pass any substantial energy legislation this year. The Senate bill, which Democrats were still refining, would require oil companies to cover all oil spill costs by removing the $75m (£48m) cap on [...]
Barclays check out of InterContinental July 27, 2010 SIR?David and Sir Frederick Barclay, the billionaire investors, sold their entire 10.4 per cent stake in InterContinental Hotel Group for £335m yesterday, sending shares in the world’s biggest hotelier down sharply. InterContinental, the owner of the Holiday Inn and Crowne Plaza brands, said the twin brothers’ investment vehicle Ellermann Corp had sold all of its [...]
Kryso to announce £130m deal with Chinese group July 27, 2010 KRYSO RESOURCES, the Aim-listed gold explorer, is this morning expected to announce a tie-up with China Nonferrous Metals International Mining (CNMIM) worth £130m. CNMIM will take a 29.9 per cent stake in Kryso for £10.9m through a conditional placing to help the company develop its Pakrut gold project in Tajikistan. CNMIM will give an additional [...]
US property price survey suggests modest growth July 27, 2010 AMERICAN single-family home prices rose more than expected in May, reflecting robust spring sales spurred by homebuyer tax credits, a home price survey showed yesterday. The Standard & Poor’s/Case Shiller index showed prices in the biggest US cities had risen 4.6 per cent in May from the same month last year. Only Las Vegas registered [...]
SAP disappoints with upgrade July 27, 2010 SAP, the world’s biggest maker of business software, raised its 2010 sales forecast by less than the market had hoped yesterday given a rebound in global technology spending. The German company raised its 2010 growth forecast for non-IFRS key software and software-related service revenue (SSRS) to a range of 9-11 per cent from the previous [...]
Banco Popular’s profits plunge July 27, 2010 Spanish bank Popular’s first-half profit fell by a fifth due to the continued slowdown in its core bank business and lower one-time gains, it revealed yesterday. Bad loans as a percentage of the total loan book rose to 5.04 per cent at the end of June from 4.91 per cent at the end of March, [...]
