Nokia and Apple lose sales to cheap Chinese phones November 10, 2010 NOKIA and other established handset makers are quickly losing global market share to a push by Chinese no-brand vendors into emerging markets, research firm Gartner said. Surging growth of no-brand manufacturers coupled with growing smartphone sales boosted third-quarter mobile phone sales 35 per cent, Gartner said yesterday. But Nokia saw its marketshare slip from 44.6 [...]
HMV lifted by Russian buyer November 10, 2010 HMV Group saw its shares rise yesterday after Russian billionaire Alexander Mamut upped his stake to above three per cent. The company’s stock had slumped 49 per cent this year as the DVD and CD seller, which also owns Waterstones, hit tough times. HMV has been moving into live music events and venues as it [...]
Carlsberg hit by rising input costs in 2011 November 9, 2010 Carlsberg, the world’s fourth-largest brewer, yesterday reported a 26 per cent rise in third-quarter operating profit, but lost market share in Russia and warned of rising input costs in 2011. The maker of Carlsberg, San Miguel, and Kronenbourg raised its 2010 view on key market Russia, where it is market leader, to a mid-single digit [...]
Adidas sets out ambitious target to overtake Nike November 8, 2010 German sporting goods company Adidas aims to grow sales to €17bn (£14.6bn) by 2015 as it strives to overtake market leader Nike. “Our aspirations are to outperform total market growth… to outgrow our major competitor and have the bottom line grow faster than the top line,” chief executive Herbert Hainer said yesterday in a presentation [...]
McDonald’s US unit weakens November 8, 2010 McDonald’s yesterday reported a weaker-than-expected rise in October sales at US established restaurants as high unemployment keeps plaguing the world’s largest hamburger chain’s key domestic market. October sales at restaurants open at least 13 months were up 5.6 per cent in the US but missed some analysts’ estimates. Despite the macroeconomic weakness that has dented [...]
There’s still no such thing as a free lunch November 7, 2010 MILTON Friedman said that there is no such thing as a free lunch, but even he might have been surprised by the cost of a meal today. World food prices have soared back up to levels last seen in the crisis of 2007-2008, leading some to warn of renewed food riots. Russia recently extended its [...]
Growth in China on the cards at Boots November 7, 2010 HIGH STREET health and beauty retailer Boots hopes to make headway in China when its executive chairman travels to the country as part of David Cameron’s first official visit as Prime Minister. Stefano Pessina has reportedly organised talks with potential partners in Beijing and Shanghai while he is in the country, as part of a [...]
Russia in talks for Potash bid November 5, 2010 A RUSSIAN group said yesterday it was in intensive talks ahead of launching a rival bid for Potash Corp, as BHP Billiton said its blocked $39bn (£24.7bn) bid for fertiliser group Potash Corp was not dead and pledged to work with the Canadian government. Phosagro claimed it was in intensive talks with the Russian government [...]
SocGen sees income more than double November 3, 2010 SOCIETE Generale reported group income more than doubled in the third quarter compared to a year earlier as a result of healthy retail banking activities with growth in international retail banking revenues. It said group income increased €900m (£787m) in the third quarter taking total income for the first nine months to €3bn compared to [...]
RBS in MUFJ project deal November 3, 2010 ROYAL Bank of Scotland (RBS) is in talks to sell a $6.4bn (£4bn) project finance book to Japan’s Mitsubishi UFJ Financial, which includes loans for London’s orbital M25 motorway and a gas pipeline between Russia and Germany. Sources told City AM the sale would help the government–backed bank boost its balance sheet. RBS, led by [...]