Microsoft wins $400m appeal September 30, 2009 Microsoft, the US software business, has been cleared of a patent infringement that would have seen it pay out $388m (£242m) in damages if upheld. A federal judge overturned an earlier ruling which said that the software company had infringed a patent held by anti-piracy software company Uniloc, freeing it from paying what would have [...]
Kroenke one step closer to Arsenal goal September 30, 2009 US SPORTS tycoon Stan Kroenke yesterday inched closer to his dream of taking over Arsenal Football Club, after its board confirmed that he had upped his stake to 28.7 per cent. The owner of the Denver Nuggets basketball team bought a further 80 shares in the Premiership club for £680,000, nudging him closer to the [...]
Smiths is cautious on forecast September 30, 2009 SMITHS, the technology company which makes airport X-ray scanners and mechanical seals on medical equipment, yesterday said its underlying annual profit fell 21 per cent but beat forecasts. The group said its outlook for the rest of the year was cautious. “Although statisticians are pointing towards a number of signs suggesting economies are beginning to [...]
Bharti Airtel and MTN talks collapse again due to dual-listing disagreement September 30, 2009 TALKS between Indian operator Bharti Airtel and South African MTN Group to create the world’s third-largest mobile operator collapsed for the second time in a year yesterday. Bharti, India’s largest mobile operator, blamed the South African government for the latest breakdown in a deal which faced close scrutiny from regulators and politicians. South Africa was [...]
Travis Perkins remains cautious about next year as says no signs of recovery September 30, 2009 BUILDERS’ merchant and home improvements group Travis Perkins yesterday said group nine-month turnover fell 11 per cent, as volumes showed no sustained improvement and pricing pressure persisted. However, the group, which has branches across the UK under Travis Perkins, Wickes and other brands, said trading for the past three months was ahead of its expectations. [...]
Clipper says it is in talks over further investment September 30, 2009 CLIPPER WINDPOWER said yesterday it was in talks with potential investors that could lead to a “significant investment” in the company, which is the only listed wind group in the UK. The talks, with a number of “industrial multinationals and financial investors”, could result in a new partner taking anything from a substantial minority position, [...]
Virtue signs Deal or No Deal September 30, 2009 Endemol UK has signed an exclusive deal with global online bingo licensor Virtue Fusion to create a game based on the popular TV show Deal or No Deal. Mecca, Paddy Power, bet365 and Sky have already confirmed they will host the game, with more operators to be announced in due course. Virtue also signed a [...]
Alexon profits fall in downturn September 30, 2009 Fashion retailer Alexon yesterday posted a fall in first-half adjusted pre-tax profit mainly due to poor consumer confidence and lower demand, and scrapped its interim dividend to conserve cash amid a tough retail environment. For the 26 weeks ended 1 August pre-tax profit before exceptional items fell to £0.9m from £6.9m last year. Revenue decreased [...]
Finsbury chief executive departs September 30, 2009 Cake and bread maker Finsbury Food yesterday announced that chief executive Martin Lightbody stepped down with immediate effect after the group reported a 65 per cent fall in year end pre-tax profit. Lightbody will be replaced by chief operating officer John Duffy. Finsbury posted pre-tax profits of £5m for the year to 4 July, compared [...]
Man funds up as client base sees recovery September 30, 2009 MAN Group, the largest listed hedge fund manager in the world, said yesterday that assets under management had increased during the group’s fiscal second quarter, the first quarterly rise in a year. The group saw funds under management reach around $43.8bn (£27.4bn), a 1.2 per cent rise on the $43.3bn seen at the end of [...]
