Real Madrid top Deloitte Football Money League as Champions League revamp boosts Premier League’s rivals
Vedanta hurt by aluminium and currency November 10, 2011 VEDANTA Resources half-year profits have been hit by its aluminium business and by the weakening Indian rupee, it said yesterday. The company, which focuses on India, said its underlying attributable profit dropped more than 34 per cent to $186.3m (£116.9m), falling below expectations on the back of lower contributions from subsidiaries. Its attributable profit — [...]
Essar Energy performance “solid” November 7, 2011 India-focused energy company Essar Energy yesterday reported a “solid” operating performance in the three months to 30 September, with energy generated rising four per cent compared to the same period a year ago. Export values also rose, climbing to 42 per cent of the otal against 31 per cent a year ago. “While higher gas [...]
THE TIPSTER November 7, 2011 LAST week’s reports of tumbling profits and the ongoing confusion over the economic outlook for Europe is weighing on International Airlines Group, the stock of the merged BA and Iberia entity, IAG. Even the prospect of adding more prized take off slots at Heathrow, through the reported plans to purchase competitor BMI, is failing to [...]
BEST OF THE BROKERS November 3, 2011 INTERNATIONAL AIRLINES GROUP Nomura rates the airline group as a “buy” with a target price of 265p, but says the group’s strong third quarter results in 2010 will be difficult to replicate this year. The broker expects yields to rise 1.5 per cent, and the fuel bill to rise by just over €300m year-on-year, in [...]
Britain’s universities need real reform October 30, 2011 IF Britain were a rational country, we would be spending far more time and energy seeking to improve the quality of our higher education to ensure that it can compete globally – and better to help young people prepare themselves for their lives and careers at a time when cognitive ability, creativity and knowledge are [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 25, 2011 FINANCIAL TIMES SHAREHOLDERS IN EVOLUTION BACK BID BY INVESTEC Investec’s £202m takeover of Evolution Group will go ahead despite last-minute resistance from Evolution’s biggest shareholder after the broker’s other big investor backed the bid. Aberforth Partners, which owns 10.8 per cent of Evolution, said last week it had withdrawn its support for the all-share offer [...]
ARM results buck gloomy sector trend October 25, 2011 THE firm behind more than 95 per cent of smartphone chips yesterday reported a surge in profits, bucking the industry trend. ARM Holdings saw its third quarter sales rise 20 per cent to £120.2m, with profits jumping 44 per cent to £55.8m. It sold a greater than expected 28 licenses in the quarter, with new [...]
ARM boss Warren East plans to take over the world – one chip at a time October 25, 2011 Afew years ago a friend of mine tipped a little-known chip designer called ARM Holdings. He said it was going to be the next big thing. A year later, after its shares had shot up, he cursed his luck for not taking his own advice. But he prudently decided not to invest while it was [...]
Inflation-linked taxes worry retailers October 23, 2011 INFLATION-linked hikes in business rates will offset any gains from government plans to encourage local businesses, the British Retail Consortium (BRC) has said today. Business rates are set to increase by a “colossal” 5.6 per cent in April, the BRC has warned, as it is tied to September’s level of the retail price index (RPI). [...]
BEST OF THE BROKERS October 19, 2011 WPP UBS rates the advertising giant as “neutral” with a target price of 620p, after this week’s digital investor day gave a positive outlook on the company’s longer-term strategy. The broker says the revenue opportunities for providing a wider variety of higher value services are very clear, but could come at a cost through staff [...]