WHAT THE OTHER PAPERS SAY THIS MORNING October 22, 2009 FINANCIAL TIMES GARTMORE ON BRINK OF £500M IPOGartmore, the fund management group equally owned by management and private equity group Hellman & Friedman, aims to register flotation plans with the UK’s Financial Services Authority as early as next week. The group has appointed Morgan Stanley and Citigroup to advise it on completing an initial public [...]
Kindle boosts Amazon profits October 22, 2009 Online retailer Amazon yesterday said pre-tax profits surged by 62 per cent between July and September to $199m (£119m) on the same period last year. The group said sales had been boosted by sales of its Kindle e-reader. Overall sales climbed 28 per cent to $5.45bn.
AmEx earnings dive October 22, 2009 American Express yesterday reported its eighth straight quarter of falling profits as consumers spent and borrowed less. The group said profits fell 21 per cent to $640m (£385m). Chief executive Kenneth Chenault said the economy had moved out of its “freefall” and there were signs “the recession may be approaching an end”.
UK diners flock to McDonalds October 22, 2009 Fast-food giant McDonalds yesterday served up a six per cent rise in pre-tax profits to $1.26bn (£760.7m). Like-for-like sales in Britain jumped 12 per cent as cash-strapped diners took advantage of penny-saving meal deals. Sales rose 5.1 per cent globally. Chief executive Jim Skinner said he believed sales would remain positive in the UK.
Fed to police pay policies at 28 firms October 22, 2009 The Federal Reserve yesterday outlined plans to police 28 US banks’ pay policies to ensure that they do not encourage reckless decisions. The attack on Wall Street compensation is expected to apply to any employee able to take risks that could imperil an institution, not just those top staff whose large bonuses have been the [...]
BP mulls bid for Kosmos field stake October 22, 2009 BP is mulling a bid for Kosmos Energy’s stake in an oil field off the Ghanaian coast, a move that would put it in direct competition with rival Exxon Mobil, analysts said yesterday. Exxon has already entered an exclusivity agreement to buy Kosmos’ 23.49 per cent stake in the Jubilee field for at least $4bn [...]
Nokia sues over Apple iPhone October 22, 2009 Mobile phone maker Nokia yesterday filed a lawsuit against Apple, claiming the US firm’s iPhone infringes its technology patents. The patents relate to technologies fundamental for devices using GSM, UMTS and local area network (LAN) standards. They cover wireless data, speech coding, security and encryption and are infringed by all Apple iPhone models shipped since [...]
Ex-Vivendi boss to stand trial October 22, 2009 Former Vivendi boss Jean-Marie Messier, who notoriously declared himself “master of the world” at his peak, has been ordered to stand trial on charges of share manipulation. Messier has will stand trial in court in France over allegations he divulged misleading information and manipulated stock prices. The decision was made earlier this month by Judge [...]
QUESTION TIME FOR THE BNP October 22, 2009 BNP leader Nick Griffin insisted he was “not a Nazi” during his first appearance on the BBC’s Question Time last night, as police tried to contain hundreds of anti-fascist protesters outside Television Centre. He told the studio audience – who constantly jeered him – that the UK was the subject of a “multicultural experiment”
EU to allow Rock plan to split itself up October 22, 2009 The European Commission (EC) is expected to approve plans to split Northern Rock into a “good” and “bad” bank by the middle of next week, paving the way for the break-up and sale of the nationalised bank. The EC is set to authorise the plans next Wednesday. They were originally submitted by Northern Rock, led [...]
