Vodafone launches Kabel takeover offer July 30, 2013 TELECOMS company Vodafone today said it has formally launched a takeover offer for German cable company Kabel Deutschland, after beating European cable giant Liberty Global in a bidding war last month. The British firm has offered €84.50 (£73) per Kabel share in cash, plus the payment of the proposed €2.50 dividend announced by the cableco [...]
Centrica buys US gas supplier for £480m July 30, 2013 ‘BIG SIX’ energy company Centrica today said that it has agreed to buy a US business-to-business gas supplier for $731m (£478m), as it looks to expand its operations in North America. The FTSE 100-listed firm said its North American subsidiary, Direct Energy Business, would acquire the New Jersey-based energy marketing business of Hess Corporation for [...]
Aberdeen outflows hit £3.4bn July 29, 2013 ABERDEEN Asset Management today reported net outflows of £3.4bn in the three months to 30 June, more than analyst forecasts of £1.3bn. The London-listed asset manager said that funds had mainly been drawn out of its lower margin products, although its emerging markets funds also saw some losses. Aberdeen attributed £0.3bn of outflows to the [...]
Perrigo buys Elan for £5.6bn July 29, 2013 PERRIGO today agreed to buy Irish pharmaceuticals firm Elan for $8.6bn (£5.6bn), giving the US drugmaker an operating base in Ireland and gateway for expansion into international markets. The deal – which ends a long-running takeover battle between Elan and US investment firm Royalty Pharma – is expected to create operating expenses and tax savings [...]
Rio Tinto to sell Northparkes stake for £533m July 29, 2013 FTSE 100-listed Rio Tinto today said it has agreed to sell its 80 per cent stake in Northparkes copper and gold mine in Australia to metals producer China Molybdenum for $820m (£533m). “Northparkes is a successful business but is not of sufficient size to be a good fit with our strategy,” said Rio Tinto chief [...]
Ryanair first-quarter profits fall 21pc July 29, 2013 RYANAIR today posted a 21 per cent fall in first-quarter profits to €78m (£67.3m), due to higher fuel costs and the timing of Easter. The budget airline said that average fares fell four per cent during the period, but revenue per passenger grew one per cent. Ryanair expects yields to rise in the second quarter [...]
United Utilities on track for year July 26, 2013 UNITED Utilities said that trading is in line with expectations, ahead of the FTSE 100-listed utility firm’s annual meeting later today. Capital investment, including infrastructure renewals expenditure, is expected to be around £800m. Group net debt has edged down to £156m. “The business will continue with its strong focus on customer service through sound operational [...]
Anglo American chief unveils management shake-up July 26, 2013 FTSE 100-listed miner Anglo American today reported a 15 per cent decrease in half-year operating profit to $3.3bn (£2.2bn), alongside a shake-up of its management team. The company’s ten business units will be consolidated into six groups and Tony O’Neill has been appointed group director – technical. He has 35 years of mining experience and [...]
Pearson first-half profits fall 62pc July 26, 2013 BRITISH publisher Pearson today posted a 62 per cent fall in half-year operating profits to £20m, as it continues its restructuring programme to focus on emerging markets and digital services. The Financial Times-owner said adjusted earnings per share fell 33 per cent to 9.9p over the period, but sales rose seven per cent, with outlook [...]
BSkyB revenues rise ahead of BT battle July 26, 2013 BRITISH Sky Broadcasting (BSkyB) today posted a seven per cent increase in full-year revenues to £7.2bn, as it gears up for a battle with an increasingly aggressive BT. The satellite broadcaster’s earnings rose eight per cent to £1.7bn and operating profit rose nine per cent to £1.3bn over the period. With mere weeks to go [...]
