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IT and telecoms group Redstone today confirmed chief financial officer Tim Perks has resigned. Commenting on his decision Perks said, "Now that the financial restructuring of the group is complete, I feel it is time to move on." Last month the heavily indebted group secured up to £6m in new fundin
Read moreRedstone, the heavily indebted IT and telecoms group, has secured up to £6m in new funding and renegotiated some of its debt facilities. The company's share price is up by 10% on the news , but overall, technology hardware & equipment is one of the worst performing sectors. It is dragged lower by
Read moreRedstone, the heavily indebted IT and telecoms group, has secured up to £6m in new funding and renegotiated some of its debt facilities. The group has raised £6m through the issue of a loan note to SVG Investment Managers and Gartmore Investment. The issue will be in two tranches of £3m, with the p
Read moreLeading London shares closed mixed, with strong gains on resource stocks counter-balanced by losses on life assurance stocks. Kazakhmys, Antofagasta, Rio Tinto, Xstrata and Vedanta Resources led the mining sector higher, as metal prices improved. Gold miners Fresnillo and Randgold Resources were
Read moreAfter opening brightly London's leading shares have been treading water since the middle of the morning. Kazakhmys, Antofagasta, Rio Tinto, Xstrata and Vedanta Resources lead the mining sector higher, as metal prices improve. Gold miner Randgold Resources is wanted after the price of gold bullio
Read moreHeavily indebted IT and telecoms group Redstone has downgraded earnings guidance for the year to end-March 2009 after a number of adjustments coming to light in the post balance sheet review period. The company now expects adjusted earnings before interest, tax, depreciation and amortisation for th
Read moreRio Tinto dominated late trading as its deal with Chinese giant Chinalco looked all but dead in the water as the mining giant confirmed it is considering its options. A rights issue to raise up to $15bn could be announced as soon as tomorrow according to reports in Australia. Rio shares slumped by
Read moreDisappointment with the Bank of England's decision not to expand its quantitative easing programme prompted a downturn in the market, wiping out the morning's gains. London's blue-chip index is also struggling with the burden of a weak mining sector, which has moved further into the red after rumou
Read moreRedstone is leading the fallers after the IT and telecoms group said trading since the second half has been slightly below expectations after cost reduction measures took longer than expected to implement and as market conditions remain extremely challenging. EBITDA for the year ended 31 March 2009
Read moreIT and telecoms group Redstone said trading since the second half has been slightly below expectations after cost reduction measures took longer than expected to implement and as market conditions remain extremely challenging. EBITDA for the year ended 31 March 2009 is expected to be between £7.5m
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