Ofcom rules out caps on media ownership June 19, 2012 OFCOM yesterday came out in opposition to imposing limits on media ownership just days after Ed Miliband called for caps on media market share. Publishing its response to a handful of questions proposed by culture secretary Jeremy Hunt in October, Ofcom said a review of media plurality should be conducted every four or five years. The [...]
Imagination sinks on Apple reliance fears June 19, 2012 IMAGINATION Technology, the chip designer, yesterday reported a 30 per cent jump in full year revenues to £127.5m. But its shares plunged as much as 10 per cent on fears that the London-listed company leans too strongly on its business from Apple. Analysts doubted whether Imagination has a large enough range of clients to hit [...]
Pluthero pockets hefty packet as CWW board forgoes bonuses June 19, 2012 NONE of Cable & Wireless Worldwide’s directors received bonuses in 2011/12, the year in which the telco’s value dropped by almost a third. But John Pluthero, the former CWW boss under whose management the company slipped to a staggering £443m first half loss, pocketed £790,938, including a £656,750 salary and £134,188 in lieu of pension [...]
Kewill turns it back on Kestrel’s offer and supports higher bid from Francisco Partners June 19, 2012 KEWILL yesterday announced an increase in the takeover price offered by Kinetic Bidco, the investment vehicle owned by the Francisco Partners Fund. The British software firm said it has now been offered £102.7m, up from the £89.5m price offered last month. The 110p per share offer – formerly 96p per share – represents a 44.7 [...]
Daisy Group to give first dividend June 19, 2012 Telecoms firm Daisy Group has pledged to pay a maiden dividend next year after annual revenues increased on the back of its acquisition spree. The Lancashire-based firm, which provides telecoms services to SMEs, has shown rapid growth and made more than 20 acquisitions in recent years. Adjusted earnings before interest, tax, depreciation and amortisation rose [...]
F&C Global Small Companies up June 19, 2012 The F&C Global Smaller Companies Investment Trust yesterday announced it had beaten its benchmark, and would make its 42nd consecutive dividend hike. Shares gained 0.8 per cent in the year to 30 April while net asset value total return was down 0.1 per cent. That compares to the trust’s benchmark, which fell four per cent. [...]
FedEx tops its profit forecast June 19, 2012 FEDEX reported above-forecast adjusted quarterly profit yesterday and forecast higher 2013 results, as it said it expected to take new cost-cutting measures to offset shipments weakened by soft global economies. The world’s second-largest package delivery company said that net profit for its fourth quarter ended 31 May was $550m (£350m), or $1.73 per share, down [...]
ALLEN STANFORD EXECUTIVE TO PLEAD GUILTY June 19, 2012 LAURA Pendergest-Holt, former chief investment officer for Allen Stanford, has agreed to plead guilty and receive a three-year prison sentence for her role in a $7bn (£4.45bn) fraud, according to reports yesterday. Earlier this month, former billionaire Stanford was sentenced to 110 years in prison for running a scheme in which he stole money from [...]
Spanish buses boost National Express shares June 19, 2012 NATIONAL Express yesterday met with investors in Spain to reassure them that its Spanish business is performing well. The firm said Alsa, its intercity and urban bus service, “has continued to be resilient” in the second quarter in spite of Spain’s economic turmoil. “Alsa’s intercity coach revenue has continued to grow and urban bus revenue [...]
Cobham completes Thrane deal June 19, 2012 Cobham, the defence giant, said yesterday it had completed its takeover of Danish satellite firm Thrane and Thrane. Management responsibilities for land and airborne SATCOM operations will transfer to the Danish company at the end of 2012. The company said in a statement that the Thrane and Thrane deal met the minimum acceptance condition on [...]
