What impact will the New York storm have on Hiscox? November 5, 2012 NICK JOHNSON | NUMIS We recently upgraded our net tangible asset forecast by two per cent to assume zero hurricane losses. We would expect this to reverse with the inclusion Sandy losses. The impact may ultimately be somewhat offset by stronger than expected investment earnings. BEN COHEN | CANACCORD GENUITY We expect consensus to review [...]
Blankfein ends sandbag saga November 5, 2012 GOLDMAN Sachs boss Lloyd Blankfein may be no stranger to popular criticism, but decided enough was enough after his firm’s robust rebuffing of hurricane Sandy attracted scorn. With the bank’s New York building sandbagged to high heavens and basking in the glow of its generator-fuelled lights last week, Blankfein took some stick on Twitter. “The [...]
Former Bank of England rocker plucks his way to charity stardom November 5, 2012 REGULAR readers of this page will be familiar with ex-Bank of England MPC member and now PwC economist Andrew Sentance’s second career as a part-time rock star. He has been putting his musical credentials to good and public use, making a charity appearance with his band Revelation. The concert, which Sentance told The Capitalist raised [...]
US troubles hit remote internet firm Inmarsat November 5, 2012 AN UNSUCCESSFUL venture into US mobile broadband and the departure of troops from Afghanistan hit satellite internet operator Inmarsat in the third quarter of the year, the company revealed yesterday. Inmarsat saw total revenues fall 10.5 per cent year-on-year in the period, largely due to its ill-fated LightSquared US mobile network, a bid to launch [...]
iPad mini sales break records as Apple’s competition heightens November 5, 2012 APPLE sold 3m iPads in the first three days that the new iPad mini and fourth-generation model went on sale, the technology giant revealed yesterday. This figure was double the sales of the previous iPad launch in March, and chief executive Tim Cook said the company was already “practically sold out of iPad minis”. “We’re [...]
Translation technology firm SDL sees chief John Hunter depart November 5, 2012 LANGUAGE translation software firm SDL yesterday revealed that its chief executive John Hunter was leaving the firm “to pursue other business interests”. Hunter, who stepped up to the role in February last year after a stint as chief financial officer, had seen SDL’s shares fall to a two-year low last month after a less than [...]
Universal movie deal keeps Sky in the front row November 5, 2012 BSKYB has signed an exclusivity deal with the company behind Hollywood giant Universal Studios, maintaining its lead in movie channels as it fends off increasing competition from the likes of Netflix and BT. The renewed agreement with NBCUniversal (NBCU), due to be announced today, allows Sky’s movie channels to screen films including recent hits Anna [...]
Shares in Foxconn arm leap 35 per cent on iPhone speculation November 5, 2012 SHARES in the world’s biggest manufacturer of mobile phones, Foxconn International Holdings (FIH), rose as much as 35 per cent yesterday on speculation that it would win a contract to make Apple’s iPhone 5 from its affiliate Hon Hai. FIH and Hon Hai are both listed units of Foxconn Technology Group, the Taiwanese industrial giant [...]
Telecity’s Finnish purchase met with hostile reception from City November 5, 2012 TELECITY, the British data centre operator, yesterday announced it had bought Finnish company Academica for €28m (£22.4m) in a bid to expand its operations in the Nordic market. Data centres in Finland are a valuable commodity, since much of the growing internet traffic from Russia uses it. However, the acquisition disappointed the City, with analysts [...]
Ryanair raises forecasts after strong demand November 5, 2012 RYANAIR, Europe’s biggest budget airline, yesterday raised its full-year profit forecast after higher fares, lower than expected fuel costs and a surge in demand after the Olympics helped it beat first-half expectations. The Ireland-based airline, waiting to hear whether EU regulators will approve its takeover of domestic peer Aer Lingus, also said it was benefiting [...]
