Volkswagen posts higher profit despite tough trading conditions October 30, 2013 Volkswagen have posted an operating profit of €2.77bn (£2.38bn), despite difficult market conditions. That's up from last year's €2.32bn. Group deliveries increased by 4.8 per cent to 7.2m vehicles worldwide. In spite of negative conditions in Europe and exchange rate impacts, sales revenue increased to €146bn in the first nine months of 2013. Volkswagen's share [...]
Nokia Lumia sales hit 8.8m in third quarter ahead of devices arm sale to Microsoft October 29, 2013 Finnish tech company Nokia has seen higher profits in the third quarter of 2013, posting €118m (£101m) operating profit for the group as a whole, up from a loss of €564m in the third quarter of 2012. Nokia chief financial officer and interim president Timo Ihamuotila said that the third quarter has been "among the [...]
The City A.M. guide to keeping fit, fresh and healthy in the City October 27, 2013 The City is bursting with different ways of getting you back in shape – and most of these activities can be enjoyed in your lunch break 1. Take intensive bursts of exercise LAX St Botolph’s, the City’s largest gym, opens today with a fitness programme specifically aimed at reflecting the lives of busy City workers, [...]
Kering’s Gucci posts weakest revenue growth for four years October 24, 2013 GUCCI, one of the world’s biggest luxury brands in terms of sales, yesterday posted its weakest growth in four years with a 0.6 per cent rise in like-for-like revenue in the third quarter. Gucci, which accounts for more than half of the valuation of parent Kering, has been hit like arch-rival LVMH’s Louis Vuitton by [...]
AT&T delivers as $3.8bn profit beats forecasts October 23, 2013 THE SECOND largest US mobile service provider posted its results for the third quarter after trading finished yesterday, with profits of $3.81bn (£2.36bn) revealed. AT&T’s earnings per share excluding significant items were slightly above expectations, at $0.66 against the $0.65 that was predicted. In the same quarter of 2012, the comparable figure was $0.63 per [...]
Evercore bullish as sees strong third quarter October 23, 2013 INVESTMENT bank advisory firm Evercore posted their third quarter results last night, with revenues up 23 per cent on the comparable period during 2012. The company announced net revenues of $188m (£116.23m), and profit of $14m, up 163 per cent over the 12-months to September. However, profit was down 15 per cent compared to the [...]
APR Energy to buy GE rental unit for £194m October 23, 2013 TEMPORARY power provider APR Energy yesterday said it has agreed to buy General Electric’s power rental business for $314m (£194m), in a deal which its chief executive called “transformational” for the company. John Campion told City A.M. that the acquisition of GE Power & Water in Houston, which rents mobile gas turbines to provide temporary [...]
Major’s windfall tax idea is as silly as Miliband’s energy price cap October 22, 2013 EVERY so often, when I get depressed about the state of contemporary British politics, I begin to recall with something close to fondness Sir John Major’s time as prime minister from 1990 to 1997. These days, others have also started to make the same mistake, perhaps unsurprisingly. Much of Major’s 1997 election manifesto was lucid [...]
A slick way to get onto Wall Street October 22, 2013 MYTHS may have it that the streets of London are paved with gold, but the pavements in Midtown Manhattan were coated with something almost as lucrative yesterday after a truck spilled around 200 gallons of oil during the morning rush hour. Traders more used to spending their days tracking the price of Brent crude were [...]
Heathrow hits out at regulator as profits soar October 21, 2013 HEATHROW warned yesterday that its investors are not prepared to put in “a penny more” to improve the airport unless the regulator allows them to generate a better rate of return. The airport, which yesterday posted a 22 per cent rise in profits, is furious at the Civil Aviation Authority’s move to cap any rises [...]