T-Mobile USA merger talks October 2, 2012 GERMAN mobile network giant Deutsche Telekom is in talks with US operator MetroPCS about merging with its T-Mobile USA unit, in a deal that would see the combined company compete with larger rivals. Deutsche Telekom, which joined up with France Telecom in the UK in 2010 to form Orange and T-Mobile parent company EE, said [...]
£20m Blur set for Aim listing October 2, 2012 Blur Group said yesterday it will start trading on Friday in an Aim float valuing the firm at £20.1m. Blur, which teams up businesses with technology advisory firms, said it had raised around £4m by placing 4.9m shares. The initial public offering is one of just a handful among tech firms in the UK this [...]
John Laing fund raises £60.4m October 2, 2012 John Laing Infrastructure Fund yesterday said it has successfully raised £60.4m through the placing of 28m shares. The group plans to use the proceeds to acquire two new projects and an additional stake in Forth Valley Royal Hospital from John Laing Group. Chairman Paul Lester said it had received strong demand “against the backdrop of [...]
William Sinclair hit by record rain October 2, 2012 British gardening supplies group William Sinclair warned yesterday that it will miss market expectations for the year after record summer rainfall played havoc with the peat harvest. But the firm said its performance in the year to September 2012 was badly affected by unprecedented weather conditions and is not a reflection of its long-term business [...]
Burrito chain’s stock hit by the Einhorn effect October 2, 2012 SOME people barely need to open their mouths to inspire investors to sell, sell, sell, as proved by US hedgie David Einhorn, who was making waves in the stock market again yesterday as he told a crowd at the Value Investing Congress he was betting against burrito chain Chipotle. Einhorn – who spent last year’s [...]
Spend today’s lunch hour with Ryder Cup winner Sam Torrance October 2, 2012 FOLLOWERS of Team Europe’s winning play during the Ryder Cup are in for a treat today – City A.M. columnist and multiple Ryder Cup-winning golfer Sam Torrance has penned a tome covering his career as sportsman and media commentator, and will be in town signing copies. Torrance will be on hand to personalise Out of [...]
Builders suffer another month of contraction October 2, 2012 THE CONSTRUCTION industry was unable to pull itself out of its torpor in September, according to data released yesterday, which showed another gloomy month of decline. The headline purchasing managers’ index (PMI) – based on a business survey – edged up 0.5 to 49.5, but this was still below 50, thus indicating continued contraction. In [...]
Nationwide survey reveals fall in house prices for September October 2, 2012 HOUSE PRICES slipped in September, according to Nationwide’s house price index, released yesterday, adding weight to other studies showing downturn during last month. The average house price fell 0.4 per cent over the month, after the 1.1 per cent gain seen in August, and contributing to the overall 1.4 per cent fall seen over 12 [...]
Heavy discounts on clothing helps lower shoppers’ costs October 2, 2012 SHOP PRICE inflation slowed down in September, data from the British Retail Consortium (BRC) and Nielsen showed yesterday, driven by falling prices for non-food goods. Overall, shop prices were up one per cent in September compared to the same month in 2011, whereas in August prices were up 1.1 per cent on the year before. [...]
OECD says inflation becoming faster in developed countries October 2, 2012 INFLATION edged up across the OECD group of developed economies, according to data released yesterday, with upward pressure from fuel and downward pressure from food. Inflation was two per cent in the year to August, the OECD said, up from 1.9 per cent in the year to July. This was driven by a boost in [...]
