Boeing remains optimistic for 2010 despite posting a sharp fall in profits July 28, 2010 AIRCRAFT manufacturer Boeing saw a sharp fall in profits during the first six months of the year after plane deliveries were hit by problems, and government spending cuts hit its defense business. The US-based group saw profits fall from 2009’s $1.6bn (£1bn) to $1.3bn, marking a 19 per cent drop for the period, with the [...]
Infineon raises full-year outlook July 28, 2010 German chipmaker Infineon raised its full-year outlook for the second time in three months yesterday after crashing past profit forecasts. Infineon, whose chips can be found in mobile handsets including Nokia and Apple, now expects revenue for the year to rise by at least 45 per cent, with an operating margin in the low teens. [...]
Mecom sees profits surge July 28, 2010 European newspaper group Mecom posted a 48 per cent leap in first-half operating profit yesterday as it continued to drive costs out of the business as part of an aggressive move from traditional print to online local content. Mecom said advertising revenue fell three per cent but online newspaper advertising grew 47 per cent, with [...]
Adobe to buy Day Software July 28, 2010 Adobe Systems yesterday agreed to buy Switzerland-based Day Software Holding for $240m (£153.8m), to strengthen its enterprise software segment and add web content management software to its portfolio. Day shareholders will receive 139 Swiss francs per share, a 34 per cent premium to Day’s Tuesday close of 104 Swiss francs. The deal, valued at 255m [...]
PIMCO’S GROSS LOWERS THE TONE WITH A TOUCH OF TOILET HUMOUR July 28, 2010 FULL marks to Pimco managing director Bill Gross, who has excelled even his own high standards of witty repartee in his latest Investment Outlook newsletter. The most recent missive is dedicated to none other than the humble toilet – more specifically, the advent of electronic “eye” sensors in place of a manual flushing system. “It’s [...]
Cold weather boosts profits for Centrica July 28, 2010 BRITISH Gas owner Centrica beat forecasts yesterday by posting a first-half operating profit of £1.56bn. Profit rose 65 per cent in the last six months, bolstered by the UK’s coldest winter in 30 years upping energy consumption. Revenues for the period were comparable to the same time last year, at £11.7bn, though the firm added [...]
BG Group earnings hurt by writedown July 28, 2010 GAS producer BG Group reported a 19 per cent rise in underlying profit last quarter, mostly due to higher worldwide gas and oil prices. However, its second-quarter net profit fell 21 per cent to $602m (£385m) after heavy losses on asset disposals and commodities contracts. BG wrote off $255m invested in a well in the [...]
Centrica July 28, 2010 BUMPER profits at energy providers are something of a double-edged sword. Shareholders might cheer, but populist denunciations and cries of “excess” are sure to follow. Centrica investors should ignore the scrum for now, however, and bask in the glory: this is as good as it gets. Falling wholesale prices coupled with a bitterly cold winter [...]
Peugeot grim after profit July 28, 2010 FRENCH carmaker Peugeot Citroen warned its second-half performance would be hampered by a tougher economic environment, yesterday sending its shares lower even though it swung to a first-half profit. Shares fell sharply following the announcement, before closing down four per cent at €23.89 (£19.90). Europe’s second-largest carmaker behind Volkswagen posted first-half recurring operating income of [...]
BBVA beats forecasts to issue bonds July 28, 2010 SPAIN’S second largest bank, BBVA, beat analyst forecasts yesterday with a 9.7 per cent drop in net profit for the first half of the year, and stepped back into the bond market for the first time since the crisis. Net profit fell to €1.3bn (£1.1bn), beating forecasts of €2.45bn in a Reuters poll but dropping [...]
