Diageo in talks to buy stake in United Spirits September 25, 2012 DIAGEO yesterday confirmed it has revived talks with United Spirits, the Indian liquor giant controlled by billionaire tycoon Vijay Mallya, about buying a stake in the company. United Spirits made the announcement ahead of its annual meeting yesterday but said there was no certainty that talks would lead to a deal. Mallya has been struggling [...]
Hornby runs out of steam after Olympics models fail to travel September 25, 2012 SHARES in Hornby plunged 34 per cent yesterday after poor sales of its London 2012 branded goods prompted the iconic toy maker to issue a surprise profit warning. The company had hoped its Olympic-branded model trains, taxis, buses and Scalextric sets would drive an increase in profits. But lower than expected sales meant major retailers [...]
A history of Hornby September 25, 2012 1901 Company founder Frank Hornby applies for a patent to protect his invention “Improvements in Toy or Educational Devices for children and young people” 1907 With his patent granted, Hornby establishes Meccano. Factories are built across the world in France, Spain and Argentina 1920 Production continues during the First World War and in 1920 Hornby [...]
Reckitt stops Suboxone pills in US September 25, 2012 Reckitt Benckiser said yesterday it is to withdraw its Suboxone heroin treatment tablets in favour of a film version in the US over the next six months due to the higher risk of children getting hold of the tablets. The consumer conglomerate said it will stop supply after US data showed that tablets were up [...]
Carnival results show recovery September 25, 2012 Carnival yesterday reported stronger-than-expected quarterly earnings, helped by a revival in the cruise industry, which had suffered because of the fatal Costa Concordia accident in January. Carnival said that in the last six weeks, bookings excluding the Costa line had risen nine per cent from a year earlier. Revenue fell 7.4 per cent to $4.68bn [...]
Staples to close more stores September 25, 2012 Staples said yesterday it will close more stores, implement leadership changes and invest in its online unit as the largest US office supply chain looks for ways to cut down expenses and grow in a struggling economy. The group plans to close 45 sites in Europe and accelerate the closing of 15 stores in the [...]
Olympic Games and Mail Online lift DMGT sales September 25, 2012 THE PUBLISHER of the Daily Mail said yesterday that its national news division had been boosted by the Olympics, reporting a seven per cent rise in ad sales over July and August. Daily Mail & General Trust (DMGT) saw a three per cent rise in underlying sales in the 11 months to the end of [...]
Close Brothers steps into the void to boost loan book value September 25, 2012 CLOSE Brothers, the FTSE listed financial services firm, yesterday reported a bumper year for its banking division as it capitalised on tightening credit conditions from traditional lenders to grow its loan book value by 20 per cent. The 134-year old firm saw operating profits in its banking division soar 27 per cent to £135m on [...]
Gold rush over for Albemarle & Bond as share price drops 12pc September 25, 2012 PAWNBROKING firm Albemarle & Bond’s shares plunged 12 per cent yesterday as investors priced in a drop in gold buying activity that is set to slow the firm’s profits next year. The firm said in its annual results yesterday gold buying volumes were set for a “major reduction” compared to the first half of this [...]
Sky boss pockets £7m payout September 25, 2012 BSKYB chief executive Jeremy Darroch took home £7.3m in pay, bonuses and share options this year, the broadcaster has revealed in its annual report. Sky also said that two directors – Jacques Nasser and Lord Wilson – would retire at the end of the year.
