Wolfson in loss after Apple contract ends February 9, 2010 BRITISH microchip maker Wolfson Microelectronics yesterday reported its first full-year loss since its 2003 flotation, after losing a major contract with Apple. The Edinburgh based company was hit after Apple started switching contracts for its iPod Nano and iPod Touch in 2008 to other electronics firms. It is not expected to feature in the iPad [...]
Mothercare and Boots sign up for Kids’ clothes deal February 9, 2010 A RANGE of children’s clothing and accessories is to be sold in Boots after the chain sealed a deal with Mothercare. The two already have an agreement through which Boots sells toys from the Early Learning Centre which Mothercare bought in June 2007 for £85m. Mothercare chief executive Ben Gordon said: “We are delighted with [...]
Rightmove raises its profit forecast in online ads boost February 9, 2010 SHARES in property website Rightmove rose yesterday after the company said it expects 2010 profits to be ahead of market forecasts as it benefits from an upturn in online advertising. Rightmove’s website had 17,600 advertisers at the end of October. It receives around 40m visits a month on average and has around a million properties [...]
Molson Coors misses estimate on low volumes February 9, 2010 Molson Coors Brewing yesterday reported a lower-than-expected quarterly profit, mainly due to weak volumes across all markets, prompting the beer maker to issue a tepid volume forecast for 2010. The brewer of Coors Light and Molson Canadian was also weighed down by cost inflation in the United States and Britain. “Overall consumer demand remains sluggish, [...]
SAS in £400m cash call to shareholders February 9, 2010 Scandinavian airline SAS yesterday asked shareholders for 5bn Swedish crowns (£428m) to keep it flying and reported a bigger than expected quarterly loss, sending its shares diving to an 18-year low. SAS, half-owned by the governments of Denmark, Norway and Sweden and one of the worst hit by the crisis in the aviation industry, said [...]
Unique British Airways crash was caused by ice February 9, 2010 AN ice-related technical fault which caused a Boeing 777 to crash-land on the perimeter of Heathrow Airport two years ago was “unrecognised” by aircraft safety procedures at the time. The Air Accidents Investigation Branch (AAIB) said the British Airways jet was forced to ditch after it lost power because of an engine fuel-flow blockage. The [...]
Japan Airlines snubs Delta’s SkyTeam group February 9, 2010 Japan Airlines said yesterday it would keep its partnership with American Airlines in the Oneworld alliance, ending an attempt by Delta Air Lines to entice the bankrupt carrier to its rival SkyTeam group. Asia’s largest carrier by revenues said it would file with American Airlines for regulatory approval for closer cooperation on transpacific routes under [...]
TUI Travel hit by traditional winter slump February 9, 2010 INTERNATIONAL holiday company TUI Travel’s operating losses trebled to £107m in the three months ending 31 December, the company revealed yesterday, as it reported sales of £2.5bn, an eight per cent reduction on the previous year. The company typically experiences losses in this period, with core business based in summer. The increased loss was attributed [...]
EasyJet faces shareholder row over pay February 9, 2010 SHAREHOLDERS in easyJet have been urged to vote down the remuneration report at the airline group’s annual meeting next week by the investor advisory group Pirc. Pirc, which tends to take a tough line on executive pay, argues that various changes have been made to the airline company’s long term incentive programme without shareholder approval. [...]
Toyota moves ahead with a global recall February 9, 2010 TOYOTA suffered another blow to its image yesterday as it announced it was recalling nearly half a million hybrid models, including the latest version of its iconic Prius. The recall – the third at the beleaguered Japanese carmaker – comes on top of the 8m vehicles worldwide already needing fixes for problems with accelerator pedals. [...]
