Rightmove in sales boost November 4, 2009 RIGHTMOVE yesterday posted growth in revenue and earnings in the past quarter as the UK’s biggest property search website reported a 40 per cent increase in year-to-year traffic levels since August 2008. The property portal, which saw nearly 600m page impressions in August 2009, also reported a five per cent increase in the number of [...]
Greyhound dogs FirstGroup November 4, 2009 FIRSTGROUP, the transport company which was rebuffed in its attempt to takeover National Express last month, yesterday said its profits had slumped as its iconic Greyhound bus service was hit by the downturn. FirstGroup, which launched a London-Southampton service bearing the Greyhound symbol in the UK earlier this year, said the unit’s operating profits slid [...]
MillerCoors profits up on cost control measures November 4, 2009 MILLERCOORS, the second-biggest brewer in the US, yesterday reported a 28 per cent rise in third-quarter net income as it found an extra $200m (£121m) of cost savings resulting from its 2008 merger with SABMiller. The combined operation, which produces Miller Lite and Coors Light, said underlying net income in the quarter was $244.4m with [...]
Bloomberg is mayor of NYC for third time November 4, 2009 NEW YORK mayor Michael Bloomberg was narrowly re-elected yesterday having changed the law to allow himself a third term in office and spent $100m (£60m) on campaign advertising. Bloomberg, 67, whose personal worth is estimated at $16bn, edged out Democratic rival Bill Thompson who spent $7m on his campaign, 13 times less than Bloomberg who [...]
Low crude prices hit Total profits November 4, 2009 FRENCH oil major Total said third quarter net profits dived 54 per cent as lower oil prices and tight refining margins dented earnings. Total said yesterday that its adjusted net income, which strips out one-off items and unrealised gains on fuel inventories, was €1.87bn (£1.67bn), in line with analysts’ forecasts. Oil and gas production rose [...]
GMAC posts third-quarter loss on its mortgage loans after housing crash November 4, 2009 GMAC Financial Services, a US lender that has received $12.5bn ($7.54bn) in government assistance, posted a third straight quarterly loss yesterday as its mortgage business continues to reel from the housing market collapse. The third-quarter net loss for Detroit-based GMAC was $767m, compared with a loss of $2.5bn a year earlier. GMAC’s auto finance unit [...]
Intel sued for bullying by New York City prosecutor November 4, 2009 INTEL was sued yesterday by New York Attorney General Andrew Cuomo, who accused the world’s largest chipmaker of scheming to maintain monopoly power in the market for microprocessors. In an 87-page lawsuit filed in a Delaware federal court, Cuomo said Intel violated state and federal antitrust laws through a “systematic worldwide campaign” of illegal threats, [...]
Hard day’s night for Bluebeat as EMI sues over copyright November 4, 2009 MUSIC label EMI, which is owned by Guy Hands’ Terra Firma, said yesterday that it is suing a US-based website that is selling unauthorised downloads of Beatles songs. EMI filed a copyright infringement suit against Bluebeat.com, a small website based in California, which was selling the fab four’s music for download at just 25 cents [...]
Logica steers a steady ship November 4, 2009 SHARES in IT services firm Logica rose yesterday after it cut its full-year guidance but stepped up its cost-cutting programme. Logica said that full-year revenue would fall three per cent rather than an earlier forecast of about two per cent, reflecting weak demand for consulting and professional services. Analysts had expected the cut and instead [...]
SHOULD THE MARKET TAKE HEART FROM LOGICA’S RESULTS? November 4, 2009 DEREK BROWN SEYMOUR PIERCE“One thing of note was how strong their public sector business is in the UK. It is possible that this has been driven by the sector bringing things forward ahead of the election next year, when they will be forced to cut spending. I am therefore a bit cautious about income from [...]
