Swisscom boss found dead July 23, 2013 SWISSCOM chief executive Carsten Schloter was found dead at his home yesterday in a suspected case of suicide. An investigation into the exact circumstances of his death is underway, Swisscom said in a statement. Schloter, 49, became chief executive in 2006.
Telefonica pays £7bn for E-Plus phone network July 23, 2013 TELEFONICA, the company behind O2, yesterday agreed to buy a German mobile phone network for €8.1bn (£6.96bn) in a deal that could herald a new wave of industry consolidation. The Spanish communications giant will take control of E-Plus from Dutch group KPN for €5bn in cash and a further €3.1bn in shares. Although the deal still [...]
Vivendi sells Maroc stake July 23, 2013 VIVENDI said yesterday it had entered into exclusive talks to sell its majority stake in Maroc Telecom to Abu Dhabi-based Etisalat for €4.2bn (£3.6bn) in cash. The deal, when finalised, would be the first major divestment by the French conglomerate as part of its strategy to reduce exposure to capital-intensive telecoms and focus more on [...]
Premium bond prize fund cut July 23, 2013 SAVERS in premium bonds will see returns fall from next month as the payouts from the instruments are cut, National Savings and Investments said yesterday. Instead of receiving interest in the conventional way, the 22m investors stand a chance of winning prizes of up to £1m each month. The overall pot is being cut from £57m each [...]
Bentley invests £800m to build new car in Crewe July 23, 2013 LUXURY car firm Bentley is to build its first SUV model at its Crewe factory, a decision that it says will create 1,000 British jobs. Bentley will invest £800m in its Crewe headquarters and new model development over the next three years. The new SUV will go on sale in 2016. The company, owned by [...]
Chinese police interrogate two more AstraZeneca employees July 23, 2013 CHINESE police yesterday questioned two more employees from AstraZeneca, as the country’s probe into multinational pharmaceuticals firms deepens. The British-Swedish company confirmed just days ago that one of its sales representatives had been questioned by the authorities. “The Shanghai Public Security Bureau has asked to speak with two line managers with whom this representative has [...]
Imagination Tech slumps July 23, 2013 SHARES in microchip designer Imagination Technologies tumbled more than 11 per cent to 250.7p yesterday on fears that its growth could be slowing. Imagination Tech has lost out to Arm as a key supplier for Samsung’s new Exynos 5 Octa chip, which prompted investors to dump the stock. But analysts at Numis said the share [...]
Gatwick talks up new runway to lift UK capacity July 23, 2013 GATWICK Airport claimed yesterday that it could build a new runway for as little as £5bn and more than double its passenger capacity to 87m a year. The airport said a second runway could be up and running by 2025, making it the quickest and cheapest way to boost air links for London and the [...]
IG Group cuts bonuses to help nurture surprise rise in profits July 23, 2013 STRICT staff bonus curbs at spread betting firm IG Group last year helped drive a healthy increase in pre-tax profits, the firm said yesterday. The FTSE 250 listed company, which cut staff bonuses by £10.6m after poor performance in the first half of the year, increased profits by 3.5 per cent for the full year [...]
Analyst views | How did IG Group’s full year results fare? July 23, 2013 ROBIN SAVAGECANACCORD GENUITYEven better than we had expected. Overall management signals an increase in costs but is confident in the prospects for 2014. Our valuation and investment recommendation remains under review. IG generates a high return on invested capital, the momentum is improving and value is attractive relative to other equities. JAMES HAMILTONNUMISOur forecasts remain [...]
