Orange JV now top iPhone seller July 27, 2011 Everything Everywhere boss Tom Alexander used his last presentation to announce a mixed bag of results, with total customers falling in the second quarter but valuable contract customers jumping. The firm became the country’s biggest iPhone seller, and said 85 per cent of new customers now opt for smartphones. It reported core earnings of £682m, [...]
Air France-KLM losses widen July 27, 2011 Air France-KLM posted a €212m (£186.5m) net loss for the quarter yesterday as fuel bills rose and it took a knife to plans to offer more seats next winter amid mounting fears over the Eurozone debt crisis. Europe’s largest airline by revenue said its operating loss widened from a year ago to €145m but predicted [...]
Brewin sees revenue miss as assets rise July 27, 2011 INVESTMENT manager Brewin Dolphin reported lower-than-expected growth in its quarterly revenues yesterday but showed encouraging inflows in its own-managed funds. Brewin’s shares fell more than two per cent after it said its revenues increased less than forecast, rising 10.7 per cent to £68.1m compared with the same quarter in 2010. Analysts said 7.6 per cent [...]
Rathbones profit up 30pc as funds and fee income grow July 27, 2011 UPMARKET investment manager Rathbones yesterday said strong organic growth in its funds was behind a 30 per cent increase in pre-tax profit to £20.6m in the first half of the year. Strong inflows caused funds under management to jump 4.7 per cent to £16.4bn in the period compared with £15.6bn in the first half of [...]
Provident ups profit by 15pc July 27, 2011 SUB-PRIME lender Provident Financial reported a forecast-beating 15 per cent profit rise yesterday, triggering a surge in its shares that analysts said was partly driven by an abrupt unwinding of short positions. Provident made a £62.3m pre-tax profit in the past half-year as bad debts fell and credit card profit rose.
Hedge funds in asset growth July 27, 2011 NEW hedge fund launches are still far less frequent than before the financial crisis but those emerging have attracted more and better quality capital, a new survey from industry portal EuroHedge showed yesterday. At least 45 new offshore hedge funds launched in Europe in the first half, raising $5.2bn (£3.2bn), it said.
Cooper raises its Laird bid up to £533m July 27, 2011 COOPER Industries yesterday raised its takeover bid for British electronics firm Laird to 200p per share, or £533m, but repeated concerns that it did not have enough access to Laird’s books. Laird said yesterday morning it had made new information available to Cooper Industries, signalling it was open to talks on a possible takeover. Laird, [...]
Retail jobs fall for third month July 27, 2011 EMPLOYMENT in the UK’s retail sector fell by 0.4 per cent last quarter compared to the same period last year, the first time that three consecutive months of negative annual jobs growth has been recorded. The fall in retail employment is equivalent to 3,100 fewer full-time jobs, despite the number of retail outlets in operation [...]
BAA narrows losses as traffic grows but a legal threat over charges looms July 27, 2011 BAA, the owner of Stansted and Heathrow, reported smaller losses for the first half of the year, boosted by more passengers using its airports. The airport operator made a pre-tax loss of £249m in the six months to June, down from £279.7m for the same time last year. Traffic across its London airports increased by [...]
Car makers signal drop in profits after Japan quake July 27, 2011 CAR makers are revealing the financial impact of the Japanese disaster, with France’s Peugeot Citroen warning of a profit dip and Japan’s Nissan posting a 10 per cent profit fall. The earthquake and tsunami that struck in March led to global supply problems in the automotive industry. Peugeot, Europe’s second-biggest car maker, said it cars [...]
