Business
Man Utd post huge profits
Manchester United has today reported a new record annual operating profit.
Revenue increased to £334.1m for the financial year that ended in June 2011, which is also a record, up £45m when measured against the previous year; the overall profit was £110.9m. Lastly, headline pre-tax profits came in at £29.7m, which is considerably better than the loss reported last year.
United is preparing to partially float itself on Singapore’s Stock Exchange in an attempt to raise up to £600m. Last season, the Old Trafford-based club claimed the Premier League and also got to the Champions League final, which was lost against Barcelona.
Turnover in the three major areas of the outfit’s business increased when measured against a year earlier, and matchday revenue rose to £108.6m from a previous amount of £100.2m, while at the same time media revenue climbed to £119.4 from a previous amount of £104.8m. Additionally, commercial revenue grew to £103.4m from a previous amount of £81.4m.
The team was bought by an American family, the Glazers, for £800m in 2005. Sceptics and critics say that the family has done nothing but saddle the club with huge debts, which triggered high-profile protests put on by supporters’ groups throughout last season. These latest figures show how net debt has dropped to £308.3m, which is down from £376.9m from the year before.
Computers
Sony set to restore PSN network for Americans and Europeans
The PlayStation Network is set to be fully restored across the US and Europe today, Sony has announced.
The network was completely shut down in April once Sony discovered a huge security breach that involved 100 million users having their data stolen. A limited service allowing people to play games was made available on the 16th May in many countries to compensate for the loss.
Full restoration means that players will be able to use credit cards to purchases games again, as well as music and other digital downloads.
The PSN network, serving both the PlayStation 3 console and Sony’s popular Qriocity music and film service, will also be fully restored across Asia except from Hong Kong, Sony’s homeland Japan, and its neighbour South Korea.
Notably, limited gaming services became switched on last in the mentioned nations as Sony tried to convince the authorities of each that it had managed to conquer all security shortcomings. Thus far, Sony hasn’t given a date for when service will be completely restored in those countries.
Sony promises that it has beefed up security systems following April’s breach and has created a position that has been filled by a chief information security officer charged with overseeing efforts to make sure all user data is protected.
The attack is widely believed to have ended up costing Sony over 14 billion yen, roughly £105m. The cash has been spent on providing insurance cover for all gamers in addition to paying for the investigation looking into how the attack occurred and customer support.
Entertainment
Megaupload founder refused bail by NZ court
The founder of Megaupload, a file-sharing website, was yesterday denied bail by a court in New Zealand.
German Kim Dotcom – AKA Kim Schmitz – was apprehended with three others in the city of Auckland on 20 January after a raid that was specially-requested by the Federal Bureau of Investigation. Schmitz is accused of internet piracy as well as money laundering.
In the meantime, US officials released a press statement that claimed Dutch police have managed to arrest a fifth suspect, an Andrus Nomm, aged 32. An American indictment identifies Nomm as an Estonian citizen and the main force behind the file-sharing site’s Development Software Division.
Schmitz’s lawyers have said that his company merely offered online storage, protesting that their client isn’t guilty of committing any crimes. Judge David McNaughton commented that Schmitz posed a flight risk, which is why he was remanded in custody until the morning of 22 February. This date was chosen as it is when the US’ application for his extradition will be heard.
Anne Toohey, prosecuting, had previously argued of there being a danger that Schmitz would attempt to flee New Zealand, citing his multiple passports, vast financial resources and prior criminal convictions for both hacking and insider trading.
The judge also pointed to a gun being found during the raid that resulted in the German being arrested as one of the factors in denying bail.
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If that’s not enough to tempt you, next day home delivery is also free for all orders totally £50 or more. Visit the Discount Vouchers site to retrieve the promotion code you need as well as many other great shopping deals.
Business
Man Utd post huge profits
Manchester United has today reported a new record annual operating profit.
Revenue increased to £334.1m for the financial year that ended in June 2011, which is also a record, up £45m when measured against the previous year; the overall profit was £110.9m. Lastly, headline pre-tax profits came in at £29.7m, which is considerably better than the loss reported last year.
United is preparing to partially float itself on Singapore’s Stock Exchange in an attempt to raise up to £600m. Last season, the Old Trafford-based club claimed the Premier League and also got to the Champions League final, which was lost against Barcelona.
Turnover in the three major areas of the outfit’s business increased when measured against a year earlier, and matchday revenue rose to £108.6m from a previous amount of £100.2m, while at the same time media revenue climbed to £119.4 from a previous amount of £104.8m. Additionally, commercial revenue grew to £103.4m from a previous amount of £81.4m.
The team was bought by an American family, the Glazers, for £800m in 2005. Sceptics and critics say that the family has done nothing but saddle the club with huge debts, which triggered high-profile protests put on by supporters’ groups throughout last season. These latest figures show how net debt has dropped to £308.3m, which is down from £376.9m from the year before.
Computers
Sony set to restore PSN network for Americans and Europeans
The PlayStation Network is set to be fully restored across the US and Europe today, Sony has announced.
The network was completely shut down in April once Sony discovered a huge security breach that involved 100 million users having their data stolen. A limited service allowing people to play games was made available on the 16th May in many countries to compensate for the loss.
Full restoration means that players will be able to use credit cards to purchases games again, as well as music and other digital downloads.
The PSN network, serving both the PlayStation 3 console and Sony’s popular Qriocity music and film service, will also be fully restored across Asia except from Hong Kong, Sony’s homeland Japan, and its neighbour South Korea.
Notably, limited gaming services became switched on last in the mentioned nations as Sony tried to convince the authorities of each that it had managed to conquer all security shortcomings. Thus far, Sony hasn’t given a date for when service will be completely restored in those countries.
Sony promises that it has beefed up security systems following April’s breach and has created a position that has been filled by a chief information security officer charged with overseeing efforts to make sure all user data is protected.
The attack is widely believed to have ended up costing Sony over 14 billion yen, roughly £105m. The cash has been spent on providing insurance cover for all gamers in addition to paying for the investigation looking into how the attack occurred and customer support.
Entertainment
Megaupload founder refused bail by NZ court
The founder of Megaupload, a file-sharing website, was yesterday denied bail by a court in New Zealand.
German Kim Dotcom – AKA Kim Schmitz – was apprehended with three others in the city of Auckland on 20 January after a raid that was specially-requested by the Federal Bureau of Investigation. Schmitz is accused of internet piracy as well as money laundering.
In the meantime, US officials released a press statement that claimed Dutch police have managed to arrest a fifth suspect, an Andrus Nomm, aged 32. An American indictment identifies Nomm as an Estonian citizen and the main force behind the file-sharing site’s Development Software Division.
Schmitz’s lawyers have said that his company merely offered online storage, protesting that their client isn’t guilty of committing any crimes. Judge David McNaughton commented that Schmitz posed a flight risk, which is why he was remanded in custody until the morning of 22 February. This date was chosen as it is when the US’ application for his extradition will be heard.
Anne Toohey, prosecuting, had previously argued of there being a danger that Schmitz would attempt to flee New Zealand, citing his multiple passports, vast financial resources and prior criminal convictions for both hacking and insider trading.
The judge also pointed to a gun being found during the raid that resulted in the German being arrested as one of the factors in denying bail.
Home Garden
My Home Finance Scheme Could Brighten Low-Income Futures
A finance initiative with the Government and the Royal Bank of Scotland plus 26 housing associations in the country has been launched to assist the most disadvantaged.
Iain Duncan Smith, the Work and Pension Secretary, launched a new loan scheme for those who are excluded financially by high street banks due to poor credit records or low income.
The new scheme is called My Home Finance, which provides loans charging the typical APR of 29.9 percent. Across the West Midlands, 10 branches of My Home Finance will open by the end of October. If successful, the rest of the UK is projected to start next April, possibly providing 150,000 loans to low income individuals over the next 10 years.
Branches will open in shopping centres and high streets, accessible to individuals who may have been turned away previously by high-street lenders.
The chief executive of Money Advice Trust, Joanna Elson OBE, has said that this addition is welcome to the consumer market. Initiatives which seek to widen the options for those whose credit options are very limited deserve commendation. She expressed that Money Advice Trust applauds the National Housing Federation for spearheading such an important step. Money Advice Trust is a pro-bono financial adviser in London.
For those assessed as ‘high risk,’ providing credit can be expensive. The proposed interest rate as of April 2011 at 49.9 APR is much higher than unsecured loan rates which are regularly seen in branch windows of the high street banks.
Consumers who are seriously considering loan application through this scheme must be absolutely positive they will be able to afford repayments.
Offers
20% off Dorothy Perkins with Discount Vouchers
If you’re looking to update your wardrobe in time for spring in the cheapest way possible, discountvouchers.co.uk has a deal that’s right up your street. Right now you can receive a massive 20 percent off on all Dorothy Perkins orders through the discount shopping site.
If that’s not enough to tempt you, next day home delivery is also free for all orders totally £50 or more. Visit the Discount Vouchers site to retrieve the promotion code you need as well as many other great shopping deals.
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