ARE YOU ENCOURAGED BY DMGT’S TRADING UPDATE? September 29, 2009 ANDY VINER BDO STOY HAYWARD“DMGT is also benefiting from having reacted early to the downturn with a cost control programme of around 15 per cent of its workforce. It was also encouraging to see comments around positive cash flow and continued net debt reduction. It now looks to be boosted by an improved advertising outlook [...]
Price war to start as Voda grabs iPhone September 29, 2009 VODAFONE said yesterday that it has sealed a deal to sell Apple’s iPhone in the UK, likely sparking a price war between the three biggest mobile networks. Vodafone, the world’s largest mobile operator by revenue, said it will be able to sell the must-have device from early 2010, though it did not confirm an exact [...]
iPhone is coolest brand but not the most reliable September 29, 2009 THE iPhone is the coolest brand, according to YouGov research for CoolBrands. Aston Martin came second, with – astonishingly – Apple and iPod in positions three and four. It’s an amazing success story, and the first graph shows the climb over the past year. The scores here are proportional, which means the proportion of positive [...]
BEST OF THE BROKERS September 29, 2009 BAE SYSTEMSExecution Securities initiated coverage on BAE Systems with a “sell” rating and price target of 290p. The broker believes that concerns about potential programme cuts in the US and UK will continue into 2010 at the least, and that the stock has further potential valuation downside. It prefers BAE rival Cobham. WOLSELEYDeutsche Bank said [...]
Shed Media boosted by US September 29, 2009 TV production company Shed Media posted higher first-half results yesterday, helped by a significant growth in production revenue, and said it was confident of its full-year outlook. Shed, which produced the Oscar-winning documentary Man on Wire, reported adjusted pre-tax profit of £5.1m for the six months ended 30 June, compared with £3.8m a year earlier. [...]
Boris halts office block plans September 29, 2009 Plans for a redevelopment of a 1960s City office block, Beagle House, have been rejected by London Mayor Boris Johnson because of its impact on views of the Tower of London. Molloy Properties had lodged plans with Tower Hamlets in July for a site between Camperdown Street and Leman Street in Aldgate, which would have [...]
LCH.Clearnet buys back shares September 29, 2009 LCH.Clearnet, Europe’s biggest independent clearing house, moved to shrink its shareholder base with an offer to buy out settlement house Euroclear’s stake as part of a €444m (£405.4m) payout. LCH, which has been under pressure to revamp its investor structure, said yesterday it would buy back up to 45 per cent of its shares and [...]
CITY MOVES WHO’S SWITCHING JOBS September 29, 2009 AvivaThe insurer has appointed Andrea Moneta, chief executive of its European business, to its PLC board with immediate effect. Moneta joined the firm in July 2008 to lead its European operations outside the UK. Prior to that, he was managing director of Dubai Financial Group and has also held senior executive positions with the European [...]
US consumer woes offset housing cheer September 29, 2009 HOUSE prices in America rose for a third month in July, but consumer confidence fell unexpectedly in September as the worst job market in 26 years fuelled worries about personal finances on the other side of the Atlantic, data showed yesterday. The data indicates the economic rebound is still in its early days following the [...]
Moss Bros reports wider loss September 29, 2009 MENSWEAR retailer Moss Bros yesterday posted widening losses but said it was confident that it would return to profit “sooner rather than later”. Moss Bros reported a pre-tax loss of £3m for the six months to 1 August, compared to £2m for the same period the year before. The group, which also runs the Savoy [...]
