Finnish firm is debut buy for new Arm boss August 27, 2013 ARM HOLDINGS, the UK’s most successful listed technology firm, yesterday announced it has bought Finnish startup Sensinode Oy for an undisclosed sum. The chip designer described Sensinode as a “pioneer in software for low cost low power internet connected devices,” a market in which Arm is keen to continue its growth. The acquisition is the [...]
Serial entrepreneur plans £15m London flotation for new startup August 27, 2013 LONDON-BASED technology startup Rightster yesterday announced plans to raise up to £15m on London’s Alternative Investment Market (Aim) to help fund further investment in its technology. Rightster specialises in the distribution of online video and operates one of the largest multi-channel networks on YouTube, with a client list that includes The Press Association, The Guardian [...]
Judge closes Facebook case August 27, 2013 AN AMERICAN judge has granted approval to Facebook’s $20m (£12.8m) settlement of a class-action lawsuit over its sponsored story advertising programme. The lawsuit filed in 2011 alleged that Facebook’s sharing of users’ so–called likes to advertisers without their consent was a privacy breach. Facebook will pay out $20m to members of the lawsuit and as [...]
Samsung to beat Apple to the finish line in smartwatch race August 27, 2013 KOREAN electronics giant Samsung will reveal its smartwatch concept next week, just days ahead of Apple’s rumoured 10 September iPhone event. The Galaxy Gear smartwatch will be unveiled at a launch event in Berlin on 4 September, Lee Young Hee, vice president of Samsung mobile confirmed yesterday. Hee told The Korea Times in an interview [...]
Best of the brokers for 28 August 2013 August 27, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com UBM UBS upgrades the media group from “hold” to “buy” and moves the firm to its “most preferred” list with a higher target price of 830p. With “portfolio cleanup largely complete”, UBS estimates a possible six per cent organic growth and four per [...]
City Moves for 28 August 2013 | Who’s switching jobs August 27, 2013 Kleinwort Benson The private bank and wealth manager has appointed Joakim Gasslander as senior private banker in its private wealth management team. Based in London, he was previously senior private banker at Lloyds Private Banking. Gasslander has also held roles at Gadd & Co and SEB Private Bank in Stockholm, and has particular experience advising [...]
London Report: Syrian tension drags bank and mining stocks August 27, 2013 FINANCIALS and miners dragged Britain’s FTSE 100 lower yesterday as tensions in Syria and prospects of stimulus withdrawal by the US Federal Reserve crimped risk appetite. Reopening after a public holiday, London’s blue-chip shed 51.13 points, or 0.8 per cent to 6,440.97, costing the index all the previous session’s gains, albeit in low volumes. Crisis [...]
New York Report: Wall Street has worst trading day since June August 27, 2013 WALL Street stocks suffered their worst day since June yesterday, slumping in a broad decline as geopolitical uncertainty rose over a possible US-led military strike by the West against Syrian President Bashar al-Assad’s forces. The S&P 500 closed under its 100-day moving average for the first time since 24 June, a sign of weak near-term [...]
How betting markets could solve the problem of inaccurate Bank forecasts August 27, 2013 IN HIS first major speech since becoming governor of the Bank of England, Mark Carney is today likely to defend a policy that has come to be described as the “Carney rule”. Also known as forward guidance, the rule effectively promises that interest rates will stay at present levels until unemployment drops below 7 per [...]
Against the Grain: The recovery isn’t unsustainable – but we could learn from the US on austerity August 27, 2013 SOME people are never satisfied. The evidence is mounting that the UK economy is now on the path to recovery. But to those who denied the possibility of any economic revival at all under the policies of “austerity”, this is simply not good enough. It is the wrong kind of recovery, they say. Fuelled by [...]
