ANALYST VIEWS | DID THE STATEMENT DAMPEN YOUR FORECASTS FOR THE YEAR? May 31, 2012 SIMON IRWIN LIBERUM CAPITAL On an underlying basis we still believe that the business is trading well, and the newsflow should now get notably better through the rest of the year. We maintain our ‘Buy’ recommendation and 380p target price. RICHARD HUNTER HARGREAVES LANSDOWNE Kingfisher has held up the weather as a reason for this [...]
Halfords knocked as cyclists and campers take a raincheck May 31, 2012 HALFORDS said campers and cyclists taking a raincheck after one of the UK’s wettest Aprils on record has taken its toll on recent trading, as it reported a 27 per cent fall in full-year profits. The leisure and car parts retailer saw its share price slide by 12.65 per cent yesterday after what chief executive [...]
PayPal unveils app to pay via phone in shops May 31, 2012 ONLINE payments pioneer PayPal yesterday launched an app that takes in-store mobile payment to the next level. Valid in 230 stores across the UK, including high street favourites Coast, Oasis, Warehouse and Karen Millen, the app generates a unique bar code that charges your PayPal account when it is scanned by a cashier. PayPal inStore [...]
Orange unveils first Intel-chip smartphone May 31, 2012 INTEL will next week enter the smartphone market with the launch of the San Diego, available exclusively on Orange from 6 June. The Android smartphone is the first to feature an Intel chip as the computer processing giant attempts to invade ARM’s territory. The handset, available for £200 on pay as you go, boasts high-definition video [...]
Chime sells off Bell Pottinger business May 31, 2012 CHIME Communications yesterday announced a management buyout of its Bell Pottinger businesses for £19.6m in cash and shares. Chairman Lord Bell and deputy chairman Piers Pottinger will pay £14.9m in cash and step down from Chime to run the new company, BPP Communications. Chime will hold a 25 per cent stake in BPP and a seat on [...]
WANdisco set for £15m float May 31, 2012 SHEFFIELD firm WANdisco will begin trading on the AIM market this morning, in a float that will raise around £15m. The firm provides collaboration tools to the software industry and is the first IPO in London of a Yorkshire-based firm since 2010 City A.M. understands that the placing was more than three times oversubscribed. Panmure Gordon’s [...]
LONDON 2012 IMAGE OF THE WEEK May 31, 2012 SIR Chris Bonington, the Everest mountaineer, this week carried the Olympic Torch to the summit of Mount Snowdon. Visibly emotional, he started his climbing career on the mountain in 1951. The Torch is on day 14 of its 70-day trip across the UK, and today is travelling from Bolton to Liverpool. It will be carried [...]
GSK in plan to axe all Human Genome board May 31, 2012 GLAXOSMITHKLINE (GSK) plans to launch a campaign to replace the entire board of Human Genome Sciences with its own nominees, stepping up its £1.67bn hostile bid for the US biotech company, sources said yesterday. The British company has started reaching out to executives in the pharmaceutical industry as well as finance and governance experts who [...]
Kingfisher crashes to its worst quarterly loss as fuel costs rise May 31, 2012 INDIA’S Kingfisher Airlines posted its worst-ever quarterly loss yesterday, as huge cuts in the number of flights, a rise in fuel costs and competition took their toll. It is now the smallest carrier in India by market share and shares in the airline have plummeted more than 80 per cent since the beginning of 2011. [...]
BAE plans 600 job cuts across the UK as weaker demand bites May 31, 2012 DEFENCE contractor BAE Systems is planning to axe 620 jobs and shut down its Newcastle factory, it said yesterday. BAE is locked in talks with unions over the Newcastle closure, which would account for half the jobs to be culled. The company said weak demand for the Terrier armoured vehicle, which is made there, was [...]
