|Groupon Inc shares plummet by 10 per cent following revised financial results|
|Tuesday, 03 April 2012 08:15|
News round up: Groupon, Apple Inc, Avon, Donald Trump, Dow Jones and Trinity Mirror.
Whoever got there first knew some free publicity was going to come their way. And on Monday, Brian White, an analyst at Topeka Capital Markets, crossed the line by becoming the first Wall Street analyst to declare that Apple shares are worth $1,000.
The fragrance firm behind Beyonce, Lady Gaga and David and Victoria Beckham's scents has made a bid for the troubled cosmetic giant Avon. New York-based Coty's $10bn offer comes as Avon searches for a new Chief Executive and the firm faces a wide-ranging investigation into corruption and bribery charges in its overseas business.
A London-listed gaming company is in talks with Donald Trump to exploit the looming legalisation of online gambling in America, The Times has learnt. Trump Entertainment Resorts, in which the property mogul has a 10% stake, has been talking to 888 Holdings and other international operators with a view to securing an online poker venture as soon as regulation is introduced. New Jersey, where Trump’s Atlantic City headquarters is based, is tipped to be among the first states to pass legislation, reports the Times.
The Dow Jones Industrial Average closed at its highest level since 2007 after America’s manufacturing industry managed to pick up the pace of its expansion last month. The better-than-expected showing from the country's manufacturers in March helped strengthen expectations that the wider US economy enjoyed a stronger first quarter, reports the Telegraph.
Trinity Mirror has bowed to shareholder pressure by halving any future cash bonus for its Chief Executive Sly Bailey, but it risked investors' wrath because it will not reduce the overall size of her controversial pay package. The owner of the Daily Mirror announced the changes as the annual report showed that Ms Bailey earned £1.3m last year in pay and pension, including a £248,000 cash bonus, despite a 40% plunge in profits, the Independent writes.
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