Daisy Group is meeting forecasts June 28, 2011 Telecoms firm Daisy Group forecast trading for the current financial year at the upper end of current expectations after posting a near-flat full-year loss. The firm also said chief financial officer Anthony Riley had stepped down to pursue other interests. Steve Smith will take over from Riley. The firm’s pre-tax loss was £19.7m on revenue [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 27, 2011 FINANCIAL TIMES MICROSOFT LAUNCHES CLOUD OFFICE Microsoft is set to place one of its biggest bets yet on cloud computing with the launch of Office 365, an online version of its most widely used business software. The software company’s belated push online with one of its core businesses comes more than four years after Google [...]
US stock rise may only be short-lived June 27, 2011 US stocks rose from three days of losses yesterday, led by banks after news of more favourable capital requirements and optimism over Greece’s austerity plan, but investors cautioned against high hopes. Yesterday’s gains were a welcome sign but investors were cautious about reading too much into them. The S&P 500 has fallen as much as [...]
Inflation held up by steeper food prices June 14, 2011 INFLATION is widely expected to balloon past five per cent in the coming months, after rising food costs held the consumer price index to a two-and-a-half year high of 4.5 per cent in May. May’s steady rate on the CPI “represents just a temporary pause in an upward trend which could take inflation to 5.5 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 13, 2011 FINANCIAL TIMES PARCOM CAPITAL TO SELL SEE TICKETS FOR £120M See Tickets, one of the largest ticketing companies in Europe, is in the advanced stages of being sold by Dutch investment firm Parcom Capital for between £100m and £120m. The sale, which has reached second round bidding, has attracted interest from a handful of private [...]
Lloyds may shed 15,000 jobs as part of far-reaching savings plan June 12, 2011 LLOYDS could cut up to 15,000 jobs as part of a new £1bn cost-saving plan. Whole layers of management could be stripped out of the bank, with hundreds of jobs likely to go at its head office and thousands of posts to be cut across the UK and in its remaining international outposts. Lloyds, which [...]
Why critics of ETFs should be ignored June 5, 2011 IN the UK, like in many other countries, Exchange Traded Funds (ETFs) are increasingly becoming a threat to old-school fund managers. ETFs, for those not yet familiar with the product, are investment funds that are traded on stock markets – like ordinary shares. But perhaps because of their growing popularity with investors, who enjoy their [...]
New chairman Leighton signals change of Pace May 31, 2011 ALLAN Leighton, who was confirmed as the successor to Mike McTighe at the struggling TV set-top box maker Pace yesterday, is planning to launch a strategic review of the Yorkshire-based company. Leighton, who has led the boards of the Post Office and supermarket chain ASDA, said: “I’ve watched the Pace business develop with both its [...]
Tata Steel reports record profit May 26, 2011 India’s Tata Steel warned rising raw material costs could hurt margins for a couple of quarters after posting its highest-ever annual net profit, bolstered by a surge in prices and demand in Asia’s third largest economy. The world’s No.7 steelmaker, whose European operations account for two-thirds of its global capacity of about 28 million tonnes, [...]
RETURN TO SENDER: ROYAL MAIL SPINNER POSTS P45 TO ITV’S PR May 25, 2011 ALL GOOD things come to an end, and so it is that ITV is parting company with Tulchan, its financial public relations adviser of four years, The Capitalist can reveal. The commercial broadcaster, whose new press chief is former Independent and Sunday Telegraph journalist Mary Fagan, has told Tulchan it wants a regime change among [...]