Guardian sells MEN to old rival Mirror February 9, 2010 Guardian Media Group (GMG) yesterday sold its regional titles, including the iconic Manchester Evening News, to Trinity Mirror for £44.8m. The sale of GMG Regional Media includes just £7.4m in cash, with a further £37.4m to buy it out of a printing deal with Trinity Mirror. The struggling division has been rocked by the advertising [...]
Malaysian IT firm joins queue to list on Aim this year February 9, 2010 Malaysian IT systems integrator Teliti International is planning an Aim flotation that could give it a market capitalisation of up to £40m. The company provides services to banks, government agencies and oil and gas companies. It plans to raise £12m through the IPO (initial public offering) to build a new data centre in Malaysia, where [...]
Taiwan phone maker HTC announces plans for £144m of share buybacks February 9, 2010 The world’s fifth-largest smartphone manufacturer, High Tech Computer Corporation (HTC), yesterday said it was planning to buy back up to 15m shares in a deal worth £144m Analysts said the buyback was intended to halt its slipping share price. Taiwan based HTC said that the buyback plan would “maintain the company’s credibility and safeguard shareholders’ [...]
RAY ZIMMERMAN February 9, 2010 RAY Zimmerman is the chief executive of Zimmerman Adams International, which will advise on Teliti’s flotation. He was formerly the managing director responsible for international activities at Teather and Greenwood. He has over 26 years of experience in investment banking and was formerly head of corporate finance at Daiwa SMBC Europe. Prior to this he [...]
Gaming firm 888 cheers profitable fourth quarter February 9, 2010 ONLINE gaming group 888 announced a profitable fourth quarter yesterday, and vowed to expand as the gambling market boomed. The company reported $68m (£43.2m) profit during the three months to 31 December, a 14 per cent increase on the same period in 2008, and a 12 per cent rise on the previous quarter. Chief executive [...]
Wolfson in loss after Apple contract ends February 9, 2010 BRITISH microchip maker Wolfson Microelectronics yesterday reported its first full-year loss since its 2003 flotation, after losing a major contract with Apple. The Edinburgh based company was hit after Apple started switching contracts for its iPod Nano and iPod Touch in 2008 to other electronics firms. It is not expected to feature in the iPad [...]
Mothercare and Boots sign up for Kids’ clothes deal February 9, 2010 A RANGE of children’s clothing and accessories is to be sold in Boots after the chain sealed a deal with Mothercare. The two already have an agreement through which Boots sells toys from the Early Learning Centre which Mothercare bought in June 2007 for £85m. Mothercare chief executive Ben Gordon said: “We are delighted with [...]
Rightmove raises its profit forecast in online ads boost February 9, 2010 SHARES in property website Rightmove rose yesterday after the company said it expects 2010 profits to be ahead of market forecasts as it benefits from an upturn in online advertising. Rightmove’s website had 17,600 advertisers at the end of October. It receives around 40m visits a month on average and has around a million properties [...]
Molson Coors misses estimate on low volumes February 9, 2010 Molson Coors Brewing yesterday reported a lower-than-expected quarterly profit, mainly due to weak volumes across all markets, prompting the beer maker to issue a tepid volume forecast for 2010. The brewer of Coors Light and Molson Canadian was also weighed down by cost inflation in the United States and Britain. “Overall consumer demand remains sluggish, [...]
SAS in £400m cash call to shareholders February 9, 2010 Scandinavian airline SAS yesterday asked shareholders for 5bn Swedish crowns (£428m) to keep it flying and reported a bigger than expected quarterly loss, sending its shares diving to an 18-year low. SAS, half-owned by the governments of Denmark, Norway and Sweden and one of the worst hit by the crisis in the aviation industry, said [...]
