Emerging markets boost SABMiller profits November 21, 2013 Growing sales in Latin America and Africa have boosted net profits for SABMiller to 9 per cent, the company announced on Thursday. For the six months to 30 September, the world's second largest brewer saw volume growth of one per cent on an organic base but suffered declines in Europe and North America. Emerging markets [...]
Trader gets 30 months after Apple wire fraud November 20, 2013 A FORMER trader was sentenced to two-and-a-years in prison yesterday for an unauthorised purchase of about $1bn in Apple stock that eventually led to the demise of financial services firm Rochdale Securities. David Miller, 41, was sentenced by US District Judge Robert Chatigny in Hartford, Connecticut, seven months after pleading guilty to wire fraud and [...]
There’s much more to the financial services industry than London November 20, 2013 THE FRUITS of Britain’s banking industry stretch well beyond the Square Mile and Canary Wharf. This morning, for example, I will be speaking to members of Manchester’s business community. When it comes to picking impressive banking hubs, you may not think of the northern city that gave us Thomas de Quincey, Emmeline Pankhurst and the [...]
US appeal court revives Apple-Samsung row November 18, 2013 A US appeals court yesterday breathed new life into Apple’s long-running attempt to secure an injunction against Samsung Electronics, ordering a California judge to reconsider imposing a permanent sales ban on some Samsung products. The US Court of Appeals for the Federal Circuit said that the lower court abused its discretion in denying the injunction [...]
Ahrendts wins top luxury gong November 18, 2013 BURBERRY’S outgoing chief executive Angela Ahrendts collected the top prize at the 2013 Walpole Awards for Excellence last night at the Banqueting House in Whitehall. Ahrendts – who will swap luxury handbags for iPads when she joins Apple next year – was awarded the medal of excellence for her “monumental success in reinventing Burberry”. Walpole’s [...]
New York Report: Bearish Icahn sees stocks fall off new highs November 18, 2013 THE S&P 500 and the Nasdaq ended lower last night while the Dow failed to close above its milestone level of 16,000 as stocks sold off late in the session following Carl Icahn’s cautious comments on the equities market. The Dow and the S&P 500 retreated from record levels with less than an hour to [...]
Apple buys Israel’s PrimeSense November 18, 2013 Apple has bought PrimeSense, an Israeli maker of chips that enable 3D machine vision, for $345m (£213m), the Israeli financial newspaper the Calcalist reported yesterday. PrimeSense has raised $85m from Israeli and US venture capital funds such as Canaan Partners Global, Gemini Israel and Genesis Partners, Calcalist said. “We do not comment on what any [...]
Samsung to launch three-sided display phone November 15, 2013 Next year Samsung plans to launch a smartphone with a three-sided display, according to reports by Bloomberg. The phone will be designed so messages, emails and possibly share prices and notifications, can be read from any angle. The new handset will use an upgraded version of its Youm series of flexible OLED screens. Each side [...]
It’s time for tech firms to end their insane global patent wars November 14, 2013 IT is welcome news that a US federal court ruled last night that Google can continue to build a digital library by scanning more than 20m books. Intellectual property rules need updating for the 21st century: authors’ and owners’ property rights must be respected but what consists “fair use” needs to be reworked to account [...]
What the other papers say this morning – 15 November 2013 November 14, 2013 FINANCIAL TIMES Ofgem clashes with energy firms Network charges, identified by energy suppliers as a reason for inflation-busting price rises, are not going up as much as companies say, according to the UK’s energy regulator. Energy suppliers have blamed higher bills on rising costs in three areas: the wholesale energy they buy on international markets; [...]