Andy Hornby starts as chief executive at Coral July 18, 2011 ANDY Hornby, the former chief executive of Alliance Boots and HBOS, has been appointed chief executive of Coral, the bookmaker, ending a year long search to find a replacement for Nick Rust, who left to join Ladbrokes last year. Hornby stood down from Alliance Boots, owner of the high street chemist, in March, after saying [...]
Philips posts a loss of £1.2bn July 18, 2011 PHILIPS flagged a grim outlook after a surprise quarterly loss that was driven by writedowns on recent acquisitions to reflect weak consumer demand in Europe and the US. The Dutch group yesterday announced an unexpected €1.4bn (£1.2bn) writedown on healthcare and lighting acquisitions that dragged it to a €1.3bn second-quarter net loss, just weeks after [...]
ANALYST VIEWS: IS PHILIPS OVER THE WORST? July 18, 2011 JONATHAN JACKSON | KILLIK & CO Profit at the EBITDA level was €370m, ahead of analysts’ expectations of €304m. The EBITA margin declined to 7.1 per cent of sales, from 9.5 per cent a year ago, with the increase in margin in healthcare being offset by lower margins in consumer lifestyle and lighting. MANOJ LADWA [...]
IBM trounces forecasts with 8pc profit rise July 18, 2011 TECH giant IBM’s quarterly profit rose eight per cent from a year earlier, beating Wall Street forecasts, buoyed by strong growth in sales of its computers and software. The world’s biggest maker of mainframe computers reported second-quarter net income of $3.66bn (£2.88bn), or $3.00 per share, compared with $3.39bn, or $2.61 per share, a year [...]
Halliburton posts 54pc profits jump July 18, 2011 HALLIBURTON, the world’s second-largest oilfield services company, beat forecasts with a 54 per cent jump in quarterly profit yesterday thanks to a US drilling boom. Halliburton is the leader in the North American market in pressure pumping technology that enables oil and gas producers to tap shale fields, and its second quarter results show it [...]
Capital worries hammer BofA July 18, 2011 SHARES in embattled Bank of America slumped up to four per cent yesterday, leading the Dow Jones industrial average lower for a spell, after reports that the bank needs to raise up to $50bn of fresh capital to meet regulatory standards. The US bank, which reports second-quarter results today, was said by analysts to require [...]
CVC sizes up ConvergEx bid July 18, 2011 CVC Capital is thought to be plotting to buy ConvergEx, a US trading-software company, which is part-owned by Bank of New York Mellon. A deal valued at $1.9bn (£1.2bn) may be announced as soon as this week, it emerged yesterday. ConvergEx, formed through a merger in 2006, sells software products and technology-enabled services for asset [...]
TRANSFORMATIONAL TOYS BOOST HASBRO July 18, 2011 HASBRO, the toy company said strong demand for its Transformers action figures helped boost its second quarter profits by 33 per cent. For the three months ending June 26, the maker of the Monopoly board said net income rose to $58.1m (£36m) compared with $43.6m in the same quarter a year earlier. Its boys’ line [...]
Keeping the flag flying for boozers July 18, 2011 The Surprise 6 Christchurch Terrace, W3 4AJ Tel: 020 7351 6954 www.geronimo-inns.co.uk/thesurprise FOOD SERVICE ATMOSPHERE Cost per person without wine: £23 THE Surprise (named after a warship) is a pub in Chelsea and the latest project from Geronimo Inns, the company with a slew of beautiful gastropubs across London. So good is Geronimo at turning [...]
Episode 19: A visit from the parents sees Dad in a less than supportive mood July 18, 2011 MY mother hobbles into our living room, a walking stick in each hand. Breathless, she asks, “How is she darling?” Before I can answer my father bursts into the room, laden with bags. “I hope you’re pleased with yourself David. She should be at home, resting. Not…” “Lawrence, please. We’re here to see Emma.” “No, [...]
