IPAD SMASHES SALES EXPECTATIONS May 3, 2010 Apple’s iPad has surpassed all expectations by shifting more than 1m units in just 28 days. The sales dwarf that of its revolutionary iPhone, which took 74 days to reach the same milestone. Apple began the second stage of a two-part roll-out of the iPad last week when it started selling the pricier, high-speed wireless [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 29, 2010 FINANCIAL TIMES STEEL INDUSTRY SET FOR A ‘NEW VOLATILITY’ Lakshmi Mittal warned yesterday that the impending large rise in the costs of iron ore would lead to “new volatility” in the steel industry by pushing up prices of the metal in a development that could harm the competitiveness of some of ArcelorMittal’s European plants. The [...]
HP enters smartphone market after buying Palm for $1.2bn April 28, 2010 HEWLETT-PACKARD (HP) has struck a $1.2bn (£789m) deal to buy Palm, offering a 23 per cent premium to expand into the smartphone market. The news comes after rising speculation on who would buy Palm, which once dominated the market but recently has been overshadowed by Apple iPhone, Research in Motion’s BlackBerry and phones that use [...]
Strong results for chip maker arm April 27, 2010 Chip designer ARM posted a better-than-expected 57 per cent rise in first-quarter profit, helped by booming sales of Apple’s iPhone in the smartphone category dominated by the firm’s technology. The British company, whose designs are found in more than 90 per cent of mobile phones, reported pre-tax profit of £37.6m on revenue of £92.3m.
Carphone is boosted by Best Buy deal April 26, 2010 CARPHONE Warehouse raised its profit forecasts yesterday – fuelled by its joint venture with US electrical giant Best Buy. It said it expected net profit for the year to the end of March to be about £47m, above the £40-£45m it indicated in January. The company is preparing for the opening of its first joint [...]
Start-ups secure funding as recovery kicks in April 26, 2010 For those of us on the ground building businesses, a new reality is emerging as the recovery sets in. Ariadne has won funding for five companies in 2010 including Everyclick, which has secured a hefty sum from new and existing investors. Why are so many start-ups getting funded – in our portfolio and elsewhere – [...]
FTSE 100 hits one-month low as Greek deficit fears weigh April 22, 2010 The London Report FTSE 100 hits one-month low as Greek deficit fears weigh BRITAIN’S top shares fell to a one-month closing low yesterday after news that Greece’s deficit widened more than expected hit investor sentiment, sending commodity and bank stocks into reverse. A downgrade of Greece’s debt rating from Moody’s Investors Service added to investor [...]
Solid results boost Wall Street stocks April 22, 2010 US stocks staged a late-day comeback yesterday as strong quarterly profits from consumer bellwethers like Starbucks outweighed worries about Greece’s shaky finances. First quarter earnings are on track to set a record for the percentage of companies beating estimates. Eighty-five per cent of the 98 S&P 500 companies that have reported so far have beaten [...]
Nokia results show its lack of an iPhone April 22, 2010 NOKIA unveiled worse-than-expected first quarter results yesterday pouring cold water on hopes of a revival at the firm. The world’s biggest mobile manufacturer lacks firepower at the high end of the mobile phone market, with no rival to Apple’s industry-changing iPhone. Apple’s tub-thumping results on Tuesday will have added insult to injury for Nokia, as [...]
Poor forecasts from drug firms leave Wall St flat April 21, 2010 US stocks finished little changed yesterday as disappointing outlooks from healthcare companies offset strong earnings from Morgan Stanley and Apple. Healthcare stocks took a beating after both Abbott Laboratories and Gilead cut profit forecasts. Both Abbott and Gilead cited the impact of costs from US healthcare reform in their outlooks. The two represented a setback [...]