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News: today's business digest

by LLB Editor
19th Oct 11 1:47 pm

1. DTZ puts itself up for sale days after takeover deal failed

The company put itself up for sale after its majority shareholder Saint George Participations (SGP), a French family-run property group pulled out of the takeover talks, The Telegraph reported today.

The company is valued at £256m.

2. Apple sales rise – but fail to soar

The Guardian reported that weak iPhone sales compared with the previous quarter left analysts asking if it had missed out by not releasing a new smartphone sooner.

Net profit for the year ending 24 September was £16.5bn.

3. Edinburgh airport to be sold

BAA said today it had decided that Edinburgh would be the one to be sold and that – if all goes well – the sale will be agreed by next summer, The Independent reported today.

After a long inquiry, the Competition Commission found that BAA’s ownership of UK airports was anti-competitive and it ordered the company to sell Gatwick, Stansted and one of either Glasgow or Edinburgh.

4. Groupon set for float roadshow

City A.M. reported today that discounting website Groupon is planning to launch its IPO roadshow on Monday or Tuesday.

The float is expected to value the daily deals site at more than £6.36bn.

5. BSkyB profits increase by 32 per cent

BSkyB today reported a 32 per cent rise in profits, reported the Evening Standard.

As increasing sales of telephone and broadband packages offset a slowdown in new TV subscriptions.

Profits were also boosted by a £39m “break fee” from Rupert Murdoch’s News Corporation after it was forced to drop its bid to buy the 61 per cent of the company it did not already own following the phone-hacking scandal.

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