Profit from gaming fails to help Sony February 3, 2011 SONY’s lack of hit products and a price war for televisions is keeping a lid on earnings at the Japanese electronics giant, despite a boost in profits from its games division. While Sony’s operating profits fell 5.9 per cent in the third quarter, rival Sharp saw a 9.5 per cent rise in profit as its [...]
The budget hotel chain boss who says that bigger is certainly better January 30, 2011 NO wonder Guy Parsons, Travelodge’s boss, was feeling so chipper about life when we met earlier this month. He had just announced that very same day a £300m investment to build a further 35 hotels this year, which will expand his empire to 495 hotels with 35,841 rooms by next Christmas. Also, the key part [...]
What the other papers say this morning January 11, 2011 FINANCIAL TIMES LAWYERS URGE HUNT TO BE CAREFUL OVER SKY BID Jeremy Hunt must act carefully to avoid legal challenge to his role in regulating News Corp’s proposed bid for British Sky Broadcasting, after his department sent Rupert Murdoch’s company a key document, lawyers said. Three competition experts yesterday said the culture secretary’s move could [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 20, 2010 FINANCIAL TIMES BANKS TO OVERHAUL GLOBAL PAY STRUCTURES The world’s biggest investment banks are to overhaul their pay structures to differentiate between bankers based in Europe and those who work elsewhere, after European regulators’ clampdown on bonuses. Many US and Swiss banks are considering paying higher salaries and lower bonuses to top bankers based in [...]
New York rises on success of GM IPO November 18, 2010 US stocks jumped yesterday on expectations of a resolution of Ireland’s banking crisis, but the S&P 500’s inability to break through resistance suggests stocks could be in a tight range through the end of the year. General Motors shares gained 3.6 per cent in its return to public trading and accounted for about 5.1 per [...]
Northern and Greencore agree merger November 17, 2010 FOOD retailers Greencore and Northern Foods revealed plans to merge yesterday, in a deal that will produce one of the biggest chilled food players in the UK. The firms, responsible for Goodfella’s pizzas, Fox’s biscuits and the Weight Watchers range, will be rebranded Essenta once the proposed tie-up is complete in March 2011. Management said [...]
Lloyds sheds 420 jobs and has cut 22,500 since buying HBOS November 9, 2010 BAILED-OUT lender Lloyds Banking Group yesterday announced it would shed a further 420 jobs, taking the total number of job cuts since it bought rival HBOS two years ago to 22,500. The latest round of redundancies come as Lloyds, 41 per cent government-owned after accepting taxpayer-funded support during the financial crisis, closes personal loans unit [...]
Lloyds axes a further 420 jobs November 9, 2010 Bailed out lender Lloyds Banking Group said it would shed a further 420 jobs, taking the total number cut since it bought rival HBOS two years ago to 22,500. The latest round of redundancies come as Lloyds, 41 per cent government-owned after accepting taxpayer-funded support during the financial crisis, closes personal loans unit Black Horse [...]
Chrysler sees a strong 2010 November 8, 2010 CHRYSLER forecast an operating profit this year, thanks to cost cuts, but chief executive Sergio Marchionne said the automaker had to “fight harder” to revive its image and seize market share. Chrysler projected a $700m (£434.2m) operating profit for 2010 after stripping out financing costs tied to its government-funded bankruptcy. It previously projected it would [...]