CBS CRACKS ITS HUNT FOR REVENUE August 2, 2011 CBS last night reported a sharp rise in profit and revenue, reaping the benefits of new distribution deals and higher spending by advertisers on national television campaigns. CBS, whose namesake network has hit shows such as “NCIS” and “CSI” (pictured) said second-quarter profit rose to $395m (£220m), or 58 cents a share, up from $150m. [...]
July sales up at General Motors August 2, 2011 General Motors yesterday posted a 7.6 per cent sales gain for July on stronger demand for compact vehicles including the Chevrolet Cruze car and the Equinox crossover. The increase pointed to a slight rebound in July sales from the disappointing results of the previous two months. GM said US sales rose to 214,915 new cars [...]
Emerson profit meets forecasts August 2, 2011 US conglomerate Emerson Electric met Wall Street forecasts with a 17 per cent rise in quarterly profit yesterday, but said its industrial businesses were slowing and its shares fell 1.1 per cent. The maker of factory automation systems and wireless networks used in oil and gas production, kept its full-year profit forecast steady, defying expectations [...]
Collins Stewart rise defies bank gloom August 2, 2011 MID-CAP broker Collins Stewart Hawkpoint defied the gloom plaguing investment banks yesterday to post a rise in profits in three of its four divisions. The firm posted a 29 per cent rise in pre-tax profit to £8.4m. Only its broking business saw revenues slump, by 11 per cent to £5.8m. Chief executive Mark Brown told [...]
Amlin shares tank as it reveals even more quake losses August 2, 2011 SHARES in insurer Amlin tanked more than 16 per cent yesterday after the firm issued a shock mid-afternoon profit warning. The biggest listed Lloyd’s insurer warned investors that its pre-tax profits will be around £65m short of forecasts when it reports half-year figures on 22 August, following a review of the state of its reserves [...]
Earnings fall as NYSE Euronext trading slows August 2, 2011 PROFITS at NYSE Euronext fell 16 per cent in the second quarter as trading slowed on its shares and financial derivatives markets in New York and Europe. The exchanges operator, in the midst of a $9bn (£5.5bn) merger with Germany’s Deutsche Boerse, earned $154m in the second quarter, down from $184m a year ago. Futures [...]
Tullett Prebon first-half revenue falls but beats expectations to lift shares August 2, 2011 TULLETT Prebon revenue and profit slipped in the first six months of the year, with the inter-dealer broker saying it expects more market volatility for the remainder of 2011. Revenue dropped to £454.8m, from £475.8m for the same period last year. Meanwhile operating profit slid to £80.2m from £84.7m last year. Revenues in Asia, where [...]
Slim beefs up telecoms empire with Mexican buy August 2, 2011 AMÉRICA Móvil, the Mexico-based telecommunications giant, yesterday announced an offer to buy the remaining 40 per cent of Telefonos de Mexico (Telmex) in a deal worth $6.5bn (£3.9bn). América Móvil chief executive Carlos Slim, the world’s richest man, is hoping to bring his telecoms empire under one roof by increasing his existing 60 per cent [...]
Rolls-Royce wins £20m contract August 2, 2011 Rolls-Royce has sealed a £20m ship design order from Island Offshore, a services supplier to the offshore industry. The engine-maker will design and supply power and propulsion systems for two UT 776 CD supply vessels used to transport essential supplies to and from offshore oil and gas platforms. The ships will be built at its [...]
Elementis profits outperform August 2, 2011 British chemicals maker Elementis posted a 53 per cent jump in first-half pretax profit that beat market expectations, helped by robust demand and pricing adjustments to offset raw material costs. Revenue rose by 10.6 per cent to $396m (£243m). The American firm said an improved cash flow led to a 50 per cent reduction in [...]
