Investigation of journalists hits The Times August 29, 2012 A JOURNALIST, believed to be from The Times was yesterday arrested on suspicion of computer hacking. The arrest marks the first time that the police investigation of journalistic misconduct, has reached the Times – the flagship tile in Rupert Murdoch’s UK newspaper division. The 28-year-old man is understood to be former Times journalist Patrick Foster. [...]
888 bets pay off as revenue rise enables it to reinstate dividend August 29, 2012 888 HOLDINGS yesterday said strong demand for its casino and poker products helped to drive earnings in the first half of the year, prompting the gaming firm to reinstate its interim dividend. The company, which operates 888 casino, poker, sport and bingo brands, said its earnings before interest, taxes, depreciation, and amortisation (Ebitda) rose 81 [...]
Former Orange boss hails taxi firm August 29, 2012 The former boss of the Orange mobile network has taken a stake in troubled taxi maker Manganese Bronze, regulatory filings showed yesterday. Sanjiv Ahuja and his wife Anju have built their holding to 4.43 per cent of Manganese’s shares – worth £167,130 based on yesterday’s closing price. Manganese revealed a £4m hole in its accounts [...]
BT to sell stake in Indian tech firm August 29, 2012 BT is to sell about five per cent of Indian IT service provider Tech Mahindra for about $100m (£63m), two sources with direct knowledge of the situation said yesterday. The UK telecoms company is selling Tech Mahindra shares in the price band of 735 rupees (£8.3) to 790 rupees each, the sources said, a discount [...]
Ferragamo hails robust half-year August 29, 2012 Italian shoemaker Salvatore Ferragamo yesterday shrugged off concerns that Europe’s financial turmoil is starting to take its toll on the luxury goods markets, as it posted a 22.5 per cent rise in first-half net profits. Net profit rose to €55.9m in the period, including minority interest profit for €11.1m. Sales in the period rose nearly [...]
Serco confident despite drop in first-half profit August 29, 2012 BRITISH outsourcing group Serco said yesterday a raft of recent contract wins would help it to strong full-year revenue growth, after reorganisation costs and continued delays in the award of US federal work pushed first-half profit down 17 per cent. The flow of much-anticipated public sector work in Serco’s core British market, which represents around [...]
KKR considers £800m Renesas stake in second Japanese foray August 29, 2012 PRIVATE equity firm KKR is in talks to invest about 100bn yen (£800m) for control of Japan’s Renesas Electronics, sources said yesterday. The deal would give KKR more than 50 per cent of cash-strapped Renesas, and could speed the pace of its current restructuring as it fights for survival in the face of sinking prices [...]
Daikin looks to US market with Goodman buy August 29, 2012 DAIKIN Industries will buy Goodman Global for $3.8bn (£2.4bn), it said yesterday, gaining greater access to the North American market and making the Japanese company the world’s largest maker of heating, ventilation and air-conditioning (HVAC) systems. Daikin has long been interested in its Houston, Texas-based rival, but put off takeover talks following Japan’s devastating earthquake [...]
Big bang opens the Paralympics August 29, 2012 THE London Paralympic Games opened with a dramatic “big bang” last night as a glowing sphere descended into the middle of a giant umbrella signifying the creation of the universe. Then in a tribute to the British weather, which just hours earlier had soaked the Olympic torch-bearers racing through the streets of the Square Mile, [...]
City Moves | Who’s switching Jobs August 29, 2012 SWIP The asset manager has added Alan Bridges to its global rates team as investment director of UK rates. Bridges has 27 years’ experience in global fixed income, most recently at UBS Global Asset Management where he was a senior portfolio manager. Prior to that he worked in a number of senior positions at ABN [...]
