Redrow beats forecasts in profits surge September 8, 2011 HOUSEBUILDER Redrow has posted better than expected pre-tax profits, thanks to a 14 per cent rise in revenues, but warned of a tough outlook for the property market. The Wales-based company posted a pre-tax profit of £25.3m in the 12 months to the end of June, compared with £700,000 the year before, beating a consensus [...]
British Land taps US investors in record $480m private placement September 8, 2011 BRITISH Land, the second-largest UK real estate investment trust (REIT), has closed a $480m (£300.6m) US private placement bond issue, taking the total funds it has raised since May to $860m, it said yesterday. It is the largest US private placement by a UK REIT, involving 12 investors and a range of maturities between seven [...]
VW delays merger with Porsche September 8, 2011 Volkswagen said yesterday it would delay a merger with Porsche until after 2011 because of unresolved legal issues and examine other ways of creating an integrated auto group. Porsche and Volkswagen in 2009 agreed to seal a merger deal by the end of 2011 but in February signalled the merger faced delays because of investor [...]
First Quantum eyes $1bn financing September 8, 2011 First Quantum Minerals is close to securing about $1 billion (£625m) in financing to expand its Zambian copper operations, a source familiar with the details said yesterday. The group has an 80 per cent stake in the Kansanshi mine in Zambia, the world’s eighth-largest copper mine, and also produces copper and gold in Mauritania. The [...]
WS Atkins says it is on course September 8, 2011 WS Atkins said yesterday its trading was in line with forecasts ahead of its annual shareholder meeting. The engineer said that while the UK market remains difficult and Europe business is on the wane, strong growth in the Middle East and Asia Pacific is enough to put the firm on course to hit its targets. [...]
Allied Gold wins FTSE place September 8, 2011 Pacific-focused mining group Allied Gold is set to enter the FTSE SmallCap index later this month after the FTSE changed its mind about the firm’s eligibility under share liquidity rules. Allied Gold, which has a market cap of almost £400m, will also join the FTSE 250 reserve list from 19 September. A spokesperson for FTSE [...]
Premier Farnell sales in a slump September 8, 2011 SHARES in Premier Farnell, the British distributor of electronics and maintenance products, plunged almost eight per cent yesterday after the company saw sales weaken over the summer and offered a cautious outlook on its prospects. Premier Farnell, which is seen as a bellwether of global trade because it depends on short term demand, said a [...]
HTC uses Google patents to extend Apple lawsuit September 8, 2011 HTC has stepped up its war with arch-rival Apple by adding nine recently acquired patents to its ongoing lawsuit. The ammunition was provided by Google, which sold the patent portfolio to the Taiwanese firm, threatening to further sour its relationship with Apple. Google, which appears unwilling to sue Apple directly, acquired the patents over the [...]
COLT PENS BT TOWER DEAL September 8, 2011 Colt has penned a deal with BT that will allow businesses across Europe access to high definition content via the BT Tower, City A.M. can reveal. The information supplier to businesses says the agreement will allow its European customers to broadcast content such as the Olympic games and will open up syndication revenue opportunities for [...]
US exports at a record high September 8, 2011 US EXPORTS soared while imports declined slightly in July, resulting in the largest fall in the trade gap for over two years. At $44.8bn (£27.9bn), the gap is 13.1 per cent lower than in the previous month. Exports increased by 3.6 per cent to $178bn and imports fell by 0.2 per cent to $222.8bn – [...]
