Twitter is the winner in super-injunction saga May 24, 2011 WHO has done well out of the super-injunction saga? Those celebrities whose names have now been revealed? Not at all. The lawyers? Presumably. But what of Twitter? The social media platform deemed to have changed the dynamics of the saga and elevated freedom of speech to dazzling heights: the conqueror of tyrants and celebrities who [...]
Microsoft fights EU fine May 24, 2011 An €899m (£783m) EU antitrust fine was excessive and undeserved, Microsoft told an EU court yesterday in a case which could draw a line under a decade of legal battles. The 2008 European Commission fine – a record at the time – penalised Microsoft for failing to comply with the regulator’s order four years earlier [...]
Chrysler repays $7.6bn loan May 24, 2011 Chrysler yesterday paid back $7.6bn (£4.7bn) in US and Canadian government loans from its 2009 bailout, a move that allows the US automaker to distance itself from an unpopular bailout and deepen its ties with Italian automaker Fiat SpA. Chrysler said it transferred $5.9bn to the US Treasury and $1.7bn to the governments of Canada [...]
Tweetdeck founder a millionaire after Twitter pays £25m for London start-up May 24, 2011 LONDON-BASED TweetDeck founder Iain Dodsworth became an overnight millionaire yesterday after selling the firm to Twitter for around $40m (£25m) in cash and shares. It is not yet clear if Dodsworth, who founded TweetDeck in 2008, will retain a stake in the company or become part of the management team. The former BSkyB and Pru [...]
FSA gives £1m fine for market abuse May 24, 2011 THE Financial Services Authority (FSA) has fined a man more than £1m for market abuse in the first use of a tough new penalty system. The FSA also took out a high court injunction against the individual – repeat offender Samuel Kahn – meaning he could face jail for contempt of court if he is [...]
Greencore: we are not for sale says chief exec May 24, 2011 SANDWICH and chilled foods maker Greencore posted a net half-year loss yesterday as costs from its failed merger with Northern Foods wiped out gains from a steady sales rise. The Irish group booked a €13.4m (£11.7m) charge for its bid to merge with Northern Foods, a convenience food specialist that was prised out of its [...]
Holidaybreak hit by weather May 24, 2011 Outdoor European specialist holiday group Holidaybreak yesterday posted a wider first-half pre-tax loss as cash-strapped consumers preferred to stay home amid last year’s harsh winter on top of a difficult economy. For the six months ended 31 March, pre-tax loss widened to £19.2m from £17.7m last year. Revenue fell seven per cent to £139.6m. The [...]
Go Outdoors in refinance deal May 24, 2011 Outdoors retailer GO Outdoors has secured a £30m financial package from Lloyds Banking Group to fund its growth plans. The business said the three-year re-finance deal included £12.2m for trade finance to help deliver new lines to consumers by giving secure funding lines to work with suppliers. GO Outdoors operates from 30 outlets across the [...]
Big Yellow says UK recovery slow May 24, 2011 UK self-storage company Big Yellow Group said yesterday that a recovery in the sector was unlikely until the economy improves but still increased profit. April to March adjusted pre-tax profit rose to £20.2m from £16.5m a year ago. Revenue rose seven per cent to £61.9m. “In the UK, at the moment we’re operating in a [...]
New projects steal the show at Portland May 24, 2011 LONDON real estate investor Great Portland Estates (GPE) yesterday reported a 78 per cent rise in profits to £50.4m, as it unveiled planning approval for its Hannover Square project and the sale of some of its stake in 100 Bishopsgate. The firm’s West End-focused property portfolio gained 15.5 per cent in value to £1.65bn over [...]
