Yell shares surge as it pledges its future to digital media May 17, 2011 YELLOW-PAGES publisher Yell plans to increase its presence in digital media in a bid to counter a chronic decline in its print business. It yesterday posted pre-tax profit of £66.3m, compared with £70.3m last year. Revenue fell 12.4 per cent to £1.9bn. However, while print revenue dropped by 18.6 per cent, digital media revenue grew [...]
Regus stays cautious as revenues rise May 17, 2011 BRITISH workspace rental company Regus said revenues grew 8.1 per cent in the first four months of 2011 and that it was well placed for further growth despite remaining cautious on the economy. Regus, which offers ready-to-use offices for rentals as short as half a day, yesterday said revenue for the four months to 30 [...]
Cranswick sausage and bacon sales sizzle May 16, 2011 PORK supplier Cranswick yesterday posted an eight per cent rise in full-year pre-tax profit and raised its final dividend by 10 per cent. However, the company, which supplies fresh pork and gourmet sausages, said it expected a tough year ahead. “The difficulties facing the UK consumer, along with rising raw material prices and the dynamics [...]
CITY MOVES | WHO’S SWITCHING JOBS May 16, 2011 Legal & General Property Charlie Walker has been promoted to director of the property fund manager and appointed to the LGP Board. Most recently, Walker was senior fund manager to the UK Property Income Fund. In his new role, he will continue to oversee the fund, which this month secured a further £100m of equity. [...]
Facebook is red faced after hiring PR firm to hit Google May 12, 2011 FACEBOOK has been caught hiring a PR firm to place negative stories in the press about its bitter rival Google. WPP-owned firm Burson-Marsteller admitted it “undertook an assignment” for Facebook that involved urging a respected US blogger to investigate Google’s privacy policy. Burson-Marsteller said it would help him to place the article in national news [...]
Industrial output rises less than expected May 12, 2011 Industrial output rose much less than expected in March, official data showed, dousing hopes that the economy may have fared better than initially reported in the first three months of this year. The Office for National Statistics said industrial output rose 0.3 in March after a 1.2 per cent fall, less than half the 0.8 [...]
RADIO SILENCE BY SKY BOSS ON MURDOCH BID May 11, 2011 INNOVATION was the theme for BSkyB chief executive Jeremy Darroch at the Institute of Directors’ convention yesterday, where fellow speakers included McDonald’s chief executive Jill McDonald, chancellor George Osborne and shadow chancellor Ed Balls. “The most successful businesses are those that constantly seek to adapt and renew themselves,” said Darroch, as he charted the broadcaster’s [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 10, 2011 FINANCIAL TIMES PACE OF UK GROWTH UNDER THREAT Britain’s economy is unlikely to grow as fast as before the financial crisis because its most productive sectors have been hardest hit, jeopardising government plans to cut the deficit. A Financial Times analysis of the sectorial performance of the economy before and after the crash highlights how [...]
Coalition makes 200 changes to the tax code May 10, 2011 THE coalition government has made 200 changes to the tax code since taking power last year – despite promising to simplify the tax system. The Association of Chartered Certified Accountants (ACCA) said the huge number of changes had created a “compliance headache for accountants, businesses and individuals”. Chancellor George Osborne set up a new Office [...]
Mondi posts progress but warns on costs May 5, 2011 SOUTH African papermaker Mondi yesterday warned rising input costs were putting pressure on its margins as it posted a rise in first-quarter profit, driven by higher prices and sales. Mondi said cost hikes would be more moderate than the 12 per cent rise seen last year. “I would estimate that it would be around a [...]