US growth drops to 3.2 per cent in fourth quarter January 30, 2014 Huge US data release today. The big number is the fourth quarter GDP growth stat, down from 4.1 per cent to 3.2 per cent, on an annualised basis. That's bang in line with the consensus forecast. Paul Ashworth, chief US economist at Capital Economics, says that the broad picture is one of diminishing fiscal drag, [...]
BlackRock makes $55m punt on Manchester United shares January 30, 2013 INVESTMENT giant BlackRock yesterday bought eight per cent of the available shares in Manchester United football club, worth around $55m (£34.8m) at yesterday’s closing price. A filing with the US Securities and Exchange Commission reveals the New York-based company has snapped up 3.3m shares in the Old Trafford-based business. The football club completed its IPO [...]
Advisor to Institute of Directors calls for plan B on energy November 7, 2013 Dan Lewis, an energy policy advisor to the Institute of Directors and chief executive of the economic policy centre, has said the UK needs a plan B with regard to energy policy. Problems, he said, come when the value of how environmentally-friendly something is is put first. Speaking to CNBC, Mr Lewis said: "what we [...]
New owners of Virgin Media to avoid TV war February 6, 2013 VIRGIN Media’s new owners yesterday pledged business would continue as usual, despite the telecoms firm’s chief executive announcing he would step down. After signing a $23.3bn (£14.9bn) agreement to buy the company, bosses at Liberty Global played down suggestions of massive investments in TV rights that would heighten Virgin Media’s competition with Rupert Murdoch’s BSkyB. [...]
Virgin Media in $20bn sale to US billionaire February 5, 2013 VIRGIN MEDIA, Britain’s second-biggest broadband provider, will announce its sale to US tycoon John Malone’s Liberty Global as early as today, after a deal worth around $20bn (£12.8bn) was signed late last night in New York. The telecoms group, which offers pay-TV, broadband, landline and mobile services, announced talks yesterday morning, pointing to “a possible [...]
Best of the Brokers January 27, 2013 BSKYB Peel Hunt rates the broadcasting group “hold” with a target of 845p ahead of first half results due on Thursday. The broker expects BSkyB to report 3.4 per cent revenue growth to £3.45bn and flat operating profit of £577m as a result of higher programming costs. Longer term, Peel Hunt has concerns about growing [...]
Google has a taste of Raspberry Pi January 30, 2013 Raspberry Pi is the sub-£22 PC that this week got a boost from internet giant Google, which will fund the distribution of 15,000 free units to schools around the UK. The plan follows news that the company has already sold 1m Raspberry Pi units in less than a year on sale. Google hopes the device [...]
Scrap January window, says Hammers captain February 7, 2013 WEST HAM captain Kevin Nolan has called for the January transfer window to be scrapped, insisting no one in football is in favour of it any more. His comments come after Queens Park Rangers manager Harry Redknapp complained of “gang warfare” among agents trying to muscle in on each other’s transactions as last week’s deadline [...]
£18.4m share deal key to Chelsea profit January 9, 2013 CHELSEA’S eyebrow-raising first profit since their 2003 takeover by big-spending Roman Abramovich was achieved in part due to the proceeds of an £18.4m share deal, it emerged yesterday. The cancellation of non-equity preference shares that broadcaster BSkyB held in a digital media joint venture resulted in paper profits of £15m, plus £3.4m of dividends from [...]
City lauds DMGT Northcliffe sale as shares leap November 22, 2012 DAILY Mail & General Trust (DMGT) saw shares soar yesterday as the publisher reported a 10 per cent rise in annual profits. The company, best known for owning the Daily Mail newspaper, now sees four-fifths of its profit in its business-to-business (B2B) publishing division, after it sold off its regional newspaper division on Wednesday. The [...]