HTC shares plummet as staff arrested September 2, 2013 TAIWANESE smartphone manufacturer HTC saw its shares tumble yesterday on the news that senior executives have been arrested leaking commercial secrets. Shares of the Taipai-listed company fell five per cent in trading as police confirmed four design directors were arrested on Friday. Prosecutors in Taiwan said yesterday that Thomas Chien, HTC vice president of product [...]
CentralNic raises £7m in float on Alternative Investment Market September 2, 2013 INTERNET domain name provider CentralNic Group began trading on the junior stock market yesterday after raising £7m. The firm, which sells premium domains with endings such as uk.com and eu.com, hopes to cash in on rising demand for personalised web addresses. “The response from investors to the IPO has reaffirmed our belief that CentralNic is [...]
Yahoo exit Chinese web September 2, 2013 YAHOO has shut down its Chinese website, completing its exit from the Chinese market. The departure highlights the growing trend of major US internet companies who have struggled to compete in the Asian market in recent years. Yahoo’s Chinese web offerings have been run by online services giant Alibaba since 2005. The firm has seen [...]
Give me one good reason to date a lawyer September 2, 2013 ONLINE dating website eHarmony has become an enthusiastic advocate for legal partnerships, with a blog post listing a whole “15 Reasons to Date a Lawyer.” The article ranges from the thoughtful points such as “lawyers are eloquent, articulate and very insightful when it comes to reading another person’s character”, and another that points out that [...]
HSBC bean counter sets sail for around the world yacht race September 2, 2013 THE CITY was unusually busy on Sunday as spectators lined the banks of the Thames to wave goodbye to the yachts competing in the Clipper Round the World Race. And among one of the many embarking on the journey was one of the Square Mile’s very own – HSBC bean counter Lindsay Evans. Evans told The [...]
One year gone but no progress on trade for G20 September 2, 2013 DESPITE a commitment to reject protectionism in the aftermath of the financial crash, G20 leaders meeting in St Petersburg later this week have stalled on measures to improve global trade in the past year. One report released by the European Commission yesterday found that 150 new restrictions on trade were introduced around the world in [...]
Tullow Oil plugs and abandons dry offshore Mozambique well September 2, 2013 FTSE 100-listed Tullow Oil yesterday said it had plugged and abandoned an exploration well in offshore Mozambique, after failing to discover oil. Despite the disappointing news, the oil and gas explorer’s share price rose yesterday and closed one per cent higher at £10.18. Tim Hurst-Brown, analyst at Mirabaud Securities, told City A.M. this was surprising [...]
Rolls-Royce sells £250m helicopter stake September 2, 2013 FTSE 100-listed Rolls-Royce yesterday said it has completed the sale of its 50 per cent stake in a helicopter engine programme for €293m (£249m). Turbomeca – a subsidiary of French aerospace firm Safran – will now fully manage the programme, which makes engines for Boeing Apache and Merlin helicopters. The sale is part of Rolls-Royce’s [...]
Indian factory growth stalls September 2, 2013 MANUFACTURING growth in India has stalled for the first time in four and a half years, according to HSBC’s purchasing managers’ index (PMI), with output and orders contracting at a faster pace. The headline figure was 48.5, with anything over 50 suggesting growth, and anything below suggesting that a sector is now shrinking. Tomorrow, former [...]
02 operator to run Wembley September 2, 2013 THE OPERATOR of the O2 Arena in the Docklands is to add another large entertainment venue to its books after winning approval to manage Wembley Arena. AEG Facilities, an affiliate of entertainment giant AEG, was given the all-clear by the Competition Commission to run the site on behalf of its owner Quintain. The property developer, [...]
