P&G outlines further job cuts November 15, 2012 Procter & Gamble (P&G) plans to trim more non-manufacturing jobs through 2016, on top of cutting 10 per cent of that workforce by the end of June, it said yesterday. P&G also said it may increase stock repurchases to $6bn from $4bn, but said such additional buybacks should not have a big impact on earnings [...]
Three says no thanks to 4G as customers rise November 15, 2012 THE UK’S fourth-largest mobile operator, Three, signed up a million extra customers in the last year, putting a dent in its rivals’ numbers. Announcing the figures yesterday, Three outlined a plan to bolster its current network rather than focus on the 4G technology that others are pursuing. This raises the possibility that a January auction [...]
BBC Trust bashes together plan for director general succession November 15, 2012 THE BBC Trust met yesterday to put together a plan to appoint the next director general following George Entwistle’s weekend departure, with the most likely solution appearing to be a direct approach for a former candidate. “They decided that there was a pressing need to make an appointment as soon as possible,” one source close [...]
Euromoney warns of tough trading November 15, 2012 Euromoney Institutional Investor, the financial information and events group owned mainly by Daily Mail & General Trust, yesterday reported a 35 per cent leap in profits in the year to October, and a nine per cent rise in turnover, as it weathered difficult market conditions. However, the company also warned of tougher trading in recent [...]
Citigate blames City for low sales November 15, 2012 Revenues at financial PR firm Citigate have fallen 17 per cent year-on-year, parent company Huntsworth announced yesterday, blaming a downturn in the City. Huntsworth, which also owns PR firms Red and Grayling, said total revenue fell 3.6 per cent. “[Citigate] was held back in London by the continuing lack of activity in the UK financial [...]
Invensys misses forecasts but rises November 15, 2012 Shares in engineering technology company Invensys rose yesterday even as the company missed City forecasts. The company, which saw shares plummet in the summer as it turned down a bid from US firm Emerson Electric, said it was confident of an upturn in orders. Invensys, which builds the technology used in rail signalling systems, said [...]
National Grid’s Sandy clean-up to reach £100m November 15, 2012 NATIONAL Grid posted a jump in half-year profits yesterday, as it warned that damage from Hurricane Sandy will cost it up to £100m to fix. FTSE 100-listed National Grid posted a 37 per cent rise in statutory pre-tax profits to £1.29bn for the six months to the end of September, or a rise of 21 [...]
Rise in household gas use offsets fall in business demand at Centrica November 15, 2012 BRITISH gas owner Centrica said yesterday the weak UK economy was impacting demand among business customers, though cost cuts were enabling it to stay on track for growth in its residential division. It expected to deliver overall earnings growth in 2012 in line with market expectations, the company said in a trading statement yesterday. This [...]
Esperanza ramp-up boosts Antofagasta as output soars November 15, 2012 THE RAMP-UP of production at Chilean mine Esperanza boosted Antofagasta earnings by 13 per cent over the nine months to September, it said yesterday. Esperanza, which began operations in 2011, was the main driver behind a 13.7 per cent jump in copper output over the period to 515,800 tonnes. Copper output from Esperanza jumped to [...]
Worries over healthcare unit weigh on can maker Rexam November 15, 2012 BEVERAGE can maker Rexam said yesterday that its healthcare business has performed below expectations as its pharma division lost some business in animal health. The healthcare business, which contributes about 10 per cent of the company’s total sales, makes precision medical devices such as bronchial inhalers, injection syringes and tubes. Rexam, whose cans are used [...]
