Shares in Foxconn arm leap 35 per cent on iPhone speculation November 5, 2012 SHARES in the world’s biggest manufacturer of mobile phones, Foxconn International Holdings (FIH), rose as much as 35 per cent yesterday on speculation that it would win a contract to make Apple’s iPhone 5 from its affiliate Hon Hai. FIH and Hon Hai are both listed units of Foxconn Technology Group, the Taiwanese industrial giant [...]
Telecity’s Finnish purchase met with hostile reception from City November 5, 2012 TELECITY, the British data centre operator, yesterday announced it had bought Finnish company Academica for €28m (£22.4m) in a bid to expand its operations in the Nordic market. Data centres in Finland are a valuable commodity, since much of the growing internet traffic from Russia uses it. However, the acquisition disappointed the City, with analysts [...]
Ryanair raises forecasts after strong demand November 5, 2012 RYANAIR, Europe’s biggest budget airline, yesterday raised its full-year profit forecast after higher fares, lower than expected fuel costs and a surge in demand after the Olympics helped it beat first-half expectations. The Ireland-based airline, waiting to hear whether EU regulators will approve its takeover of domestic peer Aer Lingus, also said it was benefiting [...]
IFG Group returns sale proceeds November 5, 2012 IFG Group, the financial group offering administration services, yesterday announced it would give back €37.3m (£30m) to investors through a share buyback programme. The firm, which trades on the London Stock Exchange, is returning funds to shareholders after it sold its international division for £70m in July. The rest of the money is being used [...]
Panmure starts RAB share buyback November 5, 2012 RAB Special Situations Company yesterday authorised its new nominated adviser and sole broker Panmure Gordon to snap up £750,000 as part of a share buyback programme. Rab, which invests all its cash in its Rab special situations strategy, switched its broker two weeks ago from Fairfax to Panmure. Yesterday it told investors Panmure would take [...]
Greek coalition sets out latest austere budget November 5, 2012 GREECE’S government presented a new austerity package to parliament yesterday as a week of strikes and protests kicked off over proposals that politicians must approve if the country is to secure more aid and stave off bankruptcy. The process is also complicated by reports that Brussels may not strike a new agreement over Greece’s next [...]
ICE’s profit dips but exchange performs better than expected November 5, 2012 COMMODITIES exchange IntercontinentalExchange yesterday reported a dip in third-quarter profit as over-the-counter (OTC) North American natural gas and power contracts declined. However the results topped analyst expectations, helped by a lower tax rate and a drop in expenses. Net income attributable to the Atlanta-based exchange was $131.1m (£82m), or $1.79 a share, in the third [...]
M&S hires Knicker Queen Janie Schaffer November 5, 2012 MARKS & Spencer has hired Janie Schaffer (left), Victoria’s Secret’s chief creative officer and the founder of lingerie chain Knickerbox, to be its director of lingerie and beauty. Schaffer, known as “The Knicker Queen”, is to join the retailer early next year and will succeed Frances Russell, who has been promoted to director of womenswear, [...]
Olympics steel firm Severfield warns on profit November 5, 2012 OLYMPICS and Shard structural steel giant Severfield-Rowen yesterday saw shares plunge nearly 25 per cent after the firm posted a profit warning and said redundancies are likely. It forecast its profit this year will be “materially lower” than last year – down from a £6.8m pre-tax profit in 2011 to around £1m this year. The [...]
Centamin confident on gold mine lease as shares surge November 5, 2012 SHARES in Egyptian gold miner Centamin regained some lost ground yesterday, as it said it was confident it would win an appeal to prove its right to mine in the country was valid. Last week, an Egyptian administrative court said the company’s right to operate the flagship Sukari mine was invalid, sending the shares in [...]
