CAN LOOKERS KEEP UP THESE STELLAR RESULTS ONCE THE SCRAP SCHEME ENDS? August 19, 2009 JOHN STEVENSON KBC PEEL HUNTYes. The aftersales arm of Lookers – its servicing facility – is the bedrock of profitability at the company. There’s also been a stunning recovery in the used car market. The footfall generated by interest in the scrappage scheme has boosted sales in general. Lookers can keep up its performance without [...]
Activists get green light to form groups August 19, 2009 CITY watchdog the Financial Services Authority (FSA) yesterday threw its weight behind shareholder activism, saying investors can form groups to oust a company’s board or force it to revamp its strategy without breaching regulations. The FSA has said the push for activist alliances proposed in Sir David Walker’s recent banking review, designed to encourage stronger [...]
BEST OF THE BROKERS August 19, 2009 BHP BILLITONBHP Billiton’s full-year results emphasised its balance sheet derived resilience, according to Evolution Securities, which was also impressed by the margin performance that the group extracted from its oil and gas divisions. The broker also said that revenues came in ahead of expectation. It upgraded its target price from 1,025p to 1,200p but retained [...]
MGM removes chief executive August 19, 2009 Debt-ridden movie studio Metro-Goldwyn-Mayer (MGM) yesterday announced that it had removed chief executive Harry Sloan from the board and replaced him with a three-member team that includes Stephen Cooper, best known for his role in restructuring collapsed US energy trader Enron.
Hewlett Packard profit slips August 19, 2009 Computer maker Hewlett-Packard yesterday report a 19 per cent fall in quarterly profit due to weak demand. The world’s top PC maker said that net profit totalled $1.64bn (£1bn) in the three months ended 31 July, down from $2.03bn in the same quarter a year ago. It cautioned it expects revenue to decline between four [...]
Sony cuts price of Playstation3 August 19, 2009 Sony yesterday said it is slashing the price of its PlayStation3 games console. Analysts said the move will boost sales without exacerbating the group’s losses. The Japanese firm has launched a revamped thinner model of its existing model, for the cheaper price of £249.99 in the uk market, compared to the current £299.99 price tag.
Germany may sweeten Opel bid August 19, 2009 Germany could provide ¤4.5bn euros (£3.9bn) in state aid for carmaker Opel if General Motors chooses Canada’s Magna, Berlin’s favoured suitor, as the buyer, a minister said. The last-ditch offer would see the federal government and German states with Opel plants split the initial aid bill without waiting for other European countries that have GM [...]
Potters get a smashing as Reds hit back August 19, 2009 LIVERPOOL (4) vs STOKE (0) LIVERPOOL took full advantage of Manchester United’s shock defeat at Burnley by crushing Stoke to catch up with their Premier League title rivals.The Reds suffered an early blow on Saturday when they lost their opening fixture at Tottenham, but they proved a point last night with a goal avalanche at [...]
Hero’s return just not enough August 19, 2009 WOULDN’T it be fantastic if Andrew Flintoff, in his last ever Test, summoned a match-winning performance and reclaimed the Ashes for England? It’s the stuff dreams are made of. Freddie would bow out in the best possible manner; one of the heroes of the 2005 series inspiring another triumph on home soil. The problem is, [...]
SPORT IN BRIEF August 19, 2009 Murray progresses in CincinnatiTENNIS: Britain’s Andy Murray began his defence of the Cincinnati Masters with a 7-6 (7-3), 6-2 win over Nicolas Almagro. New world No2 Murray was made to work in the first set but thereafter soon wrapped up victory to book a third-round clash with Radek Stepanek. McFadden gives Pompey bluesFOOTBALL: Birmingham striker [...]
