S&P launches new index May 5, 2010 Standard & Poor’s has launched its first index of non-US commodities to meet demand from clients who want an international product mix and trading opportunities unhampered by upcoming US market regulations. The S&P World Commodity Index will consist of 23 commodities such as UK Brent crude oil, Malaysian palm oil and Tokyo-traded kerosene, S&P said [...]
TRW Automotive profits rise May 5, 2010 Auto parts supplier TRW Automotive yesterday posted a quarterly profit more than double Wall Street expectations on a recovery in European auto production and cost cutting. The company raised its full-year sales outlook by about four per cent but cautioned that it expected to be hit in coming quarters by rising commodity costs and a [...]
Spring gives Rightmove a boost May 5, 2010 Rightmove said it has attracted a record number of visitors to its property site following a pre-summer bounce in the UK house market. The website enjoyed its busiest month ever during March, while site traffic set a new record on 6 April, the first working day after Easter. Rightmove also claimed its market share among [...]
Google ebook platform will battle Kindle May 5, 2010 INTERNET juggernaut Google will launch into the ebook market next month in a move that could trample Amazon’s Kindle. The California-based firm will launch Google Editions, a platform that will allow publishers to sell ebooks directly through their websites, as well as through Google. Crucially, publishers will be allowed to keep almost all of the [...]
British chipmakers remain upbeat as demand surges May 5, 2010 BRITISH chipmakers CSR and Wolfson Microelectronics yesterday reported positive first-quarter sales as demand for mobile phones and consumer electronics began to bounce back. Wolfson reported a 13 per cent rise in revenue to $28.5m (£18.9m) and said 90 customers would use its new chips into their products, including one top smartphone maker using Wolfson’s latest [...]
Logica sees light at the end of the gloomy tunnel May 5, 2010 COMPUTER services firm Logica saw a boost in its declining revenue as client confidence and outsourcing recovered. Logica said its first-quarter revenue was down two per cent to £939m, beating a market consensus figure of £919m. Logica posted an average four per cent revenue decline in the previous three quarters. New orders at the firm, [...]
Sage predicts return to revenue growth May 5, 2010 ACCOUNTANCY software firm Sage predicted a return to revenue growth yesterday as its boss of 16 years prepares to step down. Chief executive Paul Walker said pent-up demand was generated as small businesses put off upgrading software during the downturn. He said this would boost the firm’s revenues as the economy continues to fight through [...]
CITY MOVES | WHO’S SWITCHING JOBS May 5, 2010 Advent International The private equity firm has hired Kevin Beeston, the outgoing chairman of Serco Group, as an operating partner. Beeston will be tasked with helping Advent identify investment opportunities in the business services sector, and will also continue in his role as chairman of Advent’s portfolio company Domestic & General. He has worked for [...]
BEST OF THE BROKERS May 5, 2010 EASYJET Royal Bank of Scotland (RBS) has given easyJet a “buy” recommendation ahead of the airline’s first quarter reports. Its bullishness, comes despite easyJet’s guidance that its profit before tax (PBT) will be at the top end of its £80m-£95m range. RBS expects a smaller PBT loss of £79m, sharply down year-on-year noting trading is strong. [...]
Why the euro is an economic absurdity May 5, 2010 I REALLY wasn’t sure what to expect when I went to meet Bertrand des Pallieres. This is the man, after all, who lightened the gloom in the middle of the financial crisis with the story that his £80,000 Maserati had been towed, but that he was “too busy” setting up his hedge fund, SPQR, to [...]
