Nokia closes its UK online store June 16, 2011 Nokia will pull the plug on its UK online store as it continues to strip back its operations across Europe. It will not process any payments after 30 June. Nokia’s online stores have struggled to shift phones thanks to the hefty discounts offered when buying through a network operator. Most handsets are available free with [...]
Imagination grows sales June 22, 2011 APPLE supplier Imagination Technologies saw its stock slip yesterday despite announcing that its revenues hit nearly £100m. The chip designer, which supplies to shareholders Apple and Intel, posted an 80 per cent rise in pre-tax profit after doubling the amount of microprocessors it shipped. It made £24m profits on 21 per cent higher revenues of [...]
Nokia to take a thin slice out of Apple’s pie June 14, 2011 APPLE has settled an ongoing patent row with troubled phone maker Nokia, with analysts speculating that Steve Jobs’ firm could part with up to two per cent of the price of each iPhone it sells. The terms of the settlement will see Apple pay a one-off sum as well as contributing ongoing royalty fees. Details [...]
Vectura narrows its losses and reveals positive progress from lung drug trials May 23, 2011 DRUG company Vectura yesterday narrowed its annual pre-tax losses to £13.3m as it reported encouraging trial results for its new medicine for chronic obstructive pulmonary disease (COPD), due to go on sale in 2012. Revenues rose seven per cent to £42.9m, and the firm ended the year with a cash pile of £74.4m. Royalties were [...]
Vectura narrows its losses and reveals positive progress from lung drug trials May 23, 2011 DRUG company Vectura yesterday narrowed its annual pre-tax losses to £13.3m as it reported encouraging trial results for its new medicine for chronic obstructive pulmonary disease (COPD), due to go on sale in 2012. Revenues rose seven per cent to £42.9m, and the firm ended the year with a cash pile of £74.4m. Royalties were [...]
Vedanta buys 10.4pc stake in Cairn India April 19, 2011 India-focused miner Vedanta Resources has acquired a 10.4 per cent stake worth $1.5bn (£921m) in Cairn India, its takeover target that remains subject to approval from the Indian government. Vedanta bought the 200m-share stake from Petronas, the Malaysian state oil company for 331 rupees (£4.52) a share, reflecting a 1.6 per cent discount to Cairn [...]
India blow for Cairn-Vedanta April 6, 2011 CAIRN ENERGY’S £5.9bn deal to sell most of its Indian business to Vedanta suffered another setback yesterday when the Indian government referred the deal to a panel of ministers for further scrutiny. The Indian cabinet unanimously said the royalties related to the deal need to be looked at before the purchase can be approved, and [...]
Metal prices boost earnings at Vedanta May 5, 2011 INDIA-FOCUSED miner Vedanta Resources posted a 29 per cent jump in full-year earnings per share yesterday, on the back of strong metal prices and a background of robust demand for commodities. Vedanta, founded in 1976 by executive chairman Anil Agarwal (pictured), said yesterday its basic earnings per share came in at $2.83 (£1.72). The group [...]
Vedanta raises stake in Cairn India as a deal inches closer April 19, 2011 OIL firm Vedanta edged closer to sealing its long-awaited purchase of Cairn’s Indian assets yesterday when it snapped up a 10.4 percent stake from Malaysian oil company Petronas for around $1.5bn (£919m). Cairn, which owns 62 per cent of Cairn India, agreed last August to sell up to 51 per cent of the firm, while [...]
ARM rides smartphone wave April 27, 2011 Chip designer ARM Holdings rode the crest of the smartphone boom to smash analyst forecasts with a 35 per cent rise in first quarter profits. The Cambridge-based company, whose designs are in Apple’s iPad and iPhone, also said it will meet its full-year targets in spite of the Japanese earthquake’s impact on the supply-chain. Its [...]