WANdisco share price soars as HSBC credit line reassures investors August 5, 2014 Shares in WANdisco rocketed as much as 10 per cent in morning trading yesterday, leading the FTSE 250 risers, after the Sheffield-based cloud software firm announced a $10m (£5.9m) credit facility with HSBC to finance its continued expansion into so-called big data. The financing, available until 2017, was seen as a vote of confidence in [...]
Telefonica in €6.7bn bid to create largest Brazilian telecoms group August 5, 2014 TELEFONICA, the Spanish telecoms giant and owner of British mobile operator O2, has made a €6.7bn (£5.3bn) bid for Brazilian broadband firm GVT, owned by French media conglomerate Vivendi. The move is Telefonica’s second attempt to acquire GVT. It was initially beaten by Vivendi in an auction in 2009, as it seeks to strengthen its [...]
Inmarsat share price dips as broadband network delayed by Russian rocket launch failure August 5, 2014 British satellite operator Inmarsat warned yesterday its new broadband communications network would be delayed by as much as six months following the failure of its Russian launch provider Proton. Inmarsat also reported a nine per cent drop in profits to $168.3m (£99.8m) during the half year to 30 June. It was hit by the strength [...]
HP preparing to sue Autonomy chief for fraud August 4, 2014 Former Autonomy finance chief Sushovan Hussain and Autonomy founder and chief executive Mike Lynch will face legal action from HP, in relation to its ill-fated acquisition of Autonomy for $11.1bn (£6.6bn) in 2011. HP’s shareholders initially sued the computer giant over its $8.8bn write down on Autonomy, made just a year after the deal closed. [...]
Co-operative Group sells off farming arm to Wellcome Trust for £249m August 4, 2014 The Co-operative Group continued offloading its non-core assets yesterday with the sale of nearly 16,000 hectares of British farmland, 15 farms and over 100 residential properties to health charity the Wellcome Trust for £249m. The sale comes just three weeks after The Co-op sold its 774-chain pharmacy business for £620m, as the group looks to [...]
Quindell share price dives as insurance firm is hit again amid RAC deal fears August 4, 2014 Quindell, the insurance firm whose shares fell 60 per cent earlier this year following an attack by US short seller Gotham City, saw its shares plunge 12.05 per cent yesterday to 180.74p as fears grew around the future of a key joint venture with the RAC. In April Quindell announced a £100m deal with the [...]
Strong sterling hurts revenue and profit growth at Fidessa in the first half of 2014 August 4, 2014 FIDESSA, which makes software for financial traders, reported a four per cent fall in profit during the first half of 2014, as a strong pound offset its gains from improving market conditions. The FTSE 250-listed company said its revenue fell two per cent due to the impact of consolidation, restructuring and closures across its customer [...]
Analyst Views: What did you make of Fidessa’s interim financial results? August 4, 2014 DAVID TOMS | NUMIS The derivatives business continues to show very good momentum, doubling year-on-year (now eight per cent of revenue). Unfortunately, the reduction in “market” headwinds is currently offset by very strong currency headwinds which currently look set to persist in the second half of 2014. GEORGE O’CONNOR | PANMURE GORDON In our view [...]
Lift off as drone-maker DJI Innovations picks OMG to supply aerial cameras August 4, 2014 British imaging group OMG, which provides the motion capture technology used in Hollywood blockbusters including Gravity and World War Z, has signed a deal to supply aerial cameras for DJI Innovations – maker of video drones used by individuals and groups, including the BBC. OMG’s shares rose 1.8 per cent yesterday to 28.25p on news [...]
Which mobile operator is the fastest at unlocking handsets? August 4, 2014 Mobile operator Three offers the fastest and cheapest mobile phone unlocking, taking just seven working days at no cost, and all its mobiles are now sold unlocked, according to a report from regulator Ofcom. Meanwhile Virgin Mobile was found to be the slowest at unlocking its handsets, taking up to a month. Locking [...]
