Olympic effect weighs heavy on Ladbrokes October 18, 2012 THE OLYMPICS resulted in less money being wagered at high street betting shops, Ladbrokes said yesterday, as more people stayed at home to watch the coverage of the Games. The company said amounts spent in its betting shops fell 4.9 per cent in the three months to October on the same period last year, a dip [...]
Nokia posts £787m loss as sales falter ahead of crucial period October 18, 2012 SALES of Nokia’s flagship smartphones failed to impress over the summer ahead of the launch of the crucial next generation of models, although figures released by the Finnish firm yesterday showed that cheaper models performed well. Nokia posted a loss of €969m (£787m) in the three months to October, its sixth successive quarterly deficit, although [...]
Ofcom launches probe into bill hikes from mobile phone firms October 18, 2012 THE BROADCASTING regulator is investigating mobile phone companies over price hikes, after concerns surfaced about networks raising bills mid-contract without notifying customers. Ofcom said yesterday that a review into the fairness of contract terms “identified a number of issues with the effectiveness of the current rules with which communications providers have to comply”. Under current rules, [...]
Apple loses UK court battle on claims Samsung copied iPad October 18, 2012 APPLE failed yesterday to overturn a UK court judgement ruling that Samsung’s Galaxy Tab had not copied the iPad and ordering the Californian firm to run newspaper adverts saying so. The Court of Appeal upheld the High Court’s July verdict that Samsung did not infringe on Apple’s intellectual property, in part because Samsung’s device was [...]
Newsweek ditches print edition October 18, 2012 Newsweek, the prominent US weekly magazine, announced yesterday it will end its print edition early next year in favour of digital content. Editor Tina Brown said the 80-year-old publication, which merged with news website The Daily Beast last year was switching due to “challenging economics”. Brown predicted both editorial and business job losses but did [...]
Mecom continues to suffer October 18, 2012 European newspaper publisher Mecom said yesterday revenue in the last three months had dropped 10 per cent on the same period last year. The London-listed company, which is going through a period of transition as chief executive Tom Toumazis leaves, continues to make a loss and is undergoing a strategic review of the business ahead [...]
UBM profits rise on strong growth October 18, 2012 Media and marketing services company UBM said adjusted operating profit rose 11 per cent so far this year on strong growth in its events business, and reiterated its forecast for the full year. UBM, which organises exhibitions, trade shows and conferences, said adjusted operating profit for the nine months ended 30 September rose to £141.7m [...]
First baby steps towards growth for Mothercare October 18, 2012 MOTHERCARE yesterday said its embattled UK business was showing some signs of recovery as it managed to stem the decline in like-for-like sales in the first half. Chief executive Simon Calver, who was parachuted into the company earlier this year, launched a three year turnaround plan in May pledging to be “ruthless” on costs and [...]
Britvic confident despite costly Fruit Shoot recall hitting results October 18, 2012 SOFT drinks group Britvic, maker of the J2O and Tango brands, yesterday blamed a recall of its Robinsons Fruit Shoot drinks earlier this summer for hitting its full-year revenue. Withdrawing the bottles, due to faulty non-spill caps, cost the company £25m, and dented revenue growth by an estimated two per cent. Group revenue for the [...]
Booker posts profit jump and awaits clearance on Makro deal October 18, 2012 SHARES in Booker rose more than six per cent yesterday after the food wholesaler shrugged off the poor summer weather and reported better-than-expected profits. The group,which runs over 170 branches supplying caterers, convenience stores, grocers, restaurants and pubs, said pre-tax profit rose to £51m in the 24 weeks to 14 September, up from £45m a [...]
