Samsung Life’s record IPO raises $4.4bn April 25, 2010 INSURER Samsung Life achieved South Korea’s largest-ever initial public offering (IPO) on Friday, raising $4.4bn (£2.9bn) with a placing priced near the top end of the range. Keen appetite among foreign investors meant the 4.4m-share offer was heavily oversubscribed. With a total market capitalisation of Won22tr (£13bn) Samsung Life becomes the sixth-largest company on the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 21, 2010 FINANCIAL TIMES FIAT TO SPIN OFF NON-CAR DIVISIONS Fiat is to demerge its non-automotive divisions from its core carmaking business in a watershed moment for the 111-year-old Italian industrial group. The spin-off will see Fiat’s Iveco trucks, Case New Holland farming and construction equipment, and industrial and marine engines divisions split off from its Fiat, [...]
TRAVEL NOTES April 18, 2010 A Marathon treat in Mayfair As you pelt towards the finish line of the Marathon on 24 April, it might spur you on if you know your next 24 hours will be spent in the lap of luxury at Dukes, the nearest hotel to the finish line. The hotel is offering a high-carb dinner and [...]
Samsung sees profits up and demand hike April 6, 2010 ELECTRONICS giant Samsung is predicting a surge in flat screen television sales as consumers recover their appetite for spending this year. The world’s largest semiconducter and flat-screen TV maker, which has forecast a record first-quarter profit of 4.3 trillion won (£2.52bn) and sales of 34 trillion won, predicts it will improve its figures in the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 31, 2010 FINANCIAL TIMES BARRISTER’S EX-WIFE WINS PAYOUT AFTER 25 YEARS A leading barrister has been ordered to pay his former wife a lump sum of £215,000 – 25 years after they divorced. David Vaughan QC, an expert in European law, had been been paying his former wife Philippa an annual sum of £27,175. But in November [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 18, 2010 FINANCIAL TIMES ALARM WAS RAISED ON LEHMAN Securities and Exchange Commission and Federal Reserve officials were warned by a leading Wall Street rival that Lehman Brothers was incorrectly calculating a key measure of its financial health months before its collapse in 2008, people familiar with the matter say. Former Merrill Lynch officials said they contacted [...]
Laird cuts payout on profit fall March 10, 2010 Electronics group Laird yesterday posted a 56 per cent fall in 2009 profits and cut its dividend after a year in which customer demand slumped and it was forced to carry out a rights issue. The FTSE 250 firm, which supplies companies such as Samsung and Nokia, reported underlying pre-tax profit from continuing operations of [...]
Apple leads the way on mobile phone design February 17, 2010 Apple is casting a long shadow over this year’s Mobile World Congress. The iPhone maker isn’t in attendance – it is far too cool for an annual trade fair – but its name is still on everyone’s lips. For a firm that has just 2.5 per cent of the mobile handset market, its ability to [...]
Public turns against Kraft over Cadbury deal February 16, 2010 Peter Mandelson has expressed his “disappointment” at the manner of Kraft’s take-over of Cadbury, and the public, as measured by BrandIndex, seems to agree. Graph one shows what has happened to perceptions of the Kraft and Cadbury brands – measured as the proportion that are positive out of all those with a view, here with [...]
Mobile firms unite to offer apps platform February 15, 2010 A GROUP of 24 telecom companies are clubbing together to build a mobile phone application platform in a bid to compete with Apple. The alliance – which includes O2, Orange and Vodafone – is hoping that its combined customer base of 3bn will allow it to steal market share from Apple’s App Store. Mobile applications [...]