Can London compete with Silicon Valley? October 22, 2012 BEN RIGBY | IT CONSULTANT Not really. The concentration is too much on mobile app developers rather than Silicon Valley, where there is a history of fledgling technologies being developed from the ground up. GUY EMMERSON | BADENOCH & CLARK We’re a way off Silicon Valley in terms of numbers but we’ve got the brainpower [...]
O2 Arena launches ticketing scheme October 22, 2012 O2 Arena owner AEG is launching a ticketing service to bypass the likes of Ticketmaster and sell direct to fans. It said the AXS service would put an end to inflated fees and website crashes. “Until now, purchasing tickets has often been a frustrating and time-consuming process,” AEG said. Upcoming O2 shows include The Rolling [...]
Gloves on: City lawyers slug it out in the ring October 22, 2012 FIVE sparring solicitors from DLA Piper, Clyde & Co and SJ Berwin have clubbed together to compete against each other in a black tie boxing bash at St Paul’s – though the tuxes will be worn by spectators, rather than our jousting lawyers. The reason for the fisticuffs isn’t to vent anger but to raise money [...]
No shortage of bedtime financial reading October 22, 2012 WATERSTONES in Leadenhall Market is becoming a popular City hangout. For evidence look no further than the photograph above. The Capitalist reported a couple of weeks ago that City A.M’s Sam Torrance was spotted scribbling away there; now ex-corporate financier Tony Drury has done the same, signing copies of his second novel The Deal while [...]
Symphony adds to acquisition war chest with London placing October 22, 2012 SYMPHONY International Holdings, the Asian orientated investment company listed in London, yesterday said it is well on the way to raise $100m (£62.5m) in London through a share placing. The company, which makes investments in burgeoning Asian consumer businesses, announced its rights issue on 4 October. Yesterday it said it had received acceptances for 99.9m [...]
Philips revival continues as it doubles profit October 22, 2012 PHILIPS boss Frans van Houten’s comprehensive cost-saving plan is paying off, the Dutch company revealed yesterday, as it revealed that profits more than doubled in the three months to October. Van Houten has overseen thousands of job cuts and ditched Philips’ loss-making TV business since he took over the ailing firm 18 months ago. Yesterday’s [...]
Fidessa profits to flatline after brokers’ dip in equity volumes October 22, 2012 FIDESSA, the London-listed company that makes trading systems for brokers, yesterday warned there would be no revenue growth at the firm this year due to a squeeze on software spending by brokerage customers. The FTSE 250-listed firm said its customer base was being hit by lagging equity volumes, leading to a drop in demand for [...]
Higher costs force sausage skin maker Devro to warn on profits October 22, 2012 SAUSAGE skin maker Devro yesterday sounded a profit warning as a result of adverse currency swings and higher costs. The British firm said in an interim management statement that sales volumes continued to grow in Japan, Europe and the Americas, and overall market demand had remained strong since 1 July. However, it added that raw [...]
Is Devro’s profit warning more than just a blip for the firm? October 22, 2012 DARREN SHIRLEY | SHORE CAPITAL We continue to believe Devro’s medium to long term growth dynamics remain intact, with structural growth potential underpinned by very healthy margins, a strong balance sheet, robust cash generation, an international capability and continuing investment in new manufacturing capability. CHARLES PICK | NUMIS SECURITIES The top line of the update [...]
Rolls-Royce signs hovercraft deal October 22, 2012 ■ Rolls-Royce yesterday announced it had won a contract to power a future fleet of US Navy hovercrafts. The British firm will work with Textron Marine & Land Systems in a scheme that could produce up to 73 new generation craft. Each hovercraft will use a Rolls-Royce MT7 gas turbine, derived from the AE1107 engine, [...]
