City&FinanceBriefing London Lite Tuesday, 6 October 2009 31 Inbrief Cond Nast to axe four titles l conde nast is to close four of its titles. The publisher of Vogue is to shut Gourmet -- the US foodies bible -- as well as Modern Bride, elegant Bride and cookie. The cuts come after a three-month study by management consultants McKinsey. chuck Townsend, chief executive of cond nast, said he would concentrate on titles with the best prospects for long-term growth. PR star Rudd makes 2.9m l ciTy public relations supremo Roland Rudd earned 2.9 million last year as his Finsbury agency prospered despite the credit crunch. Rudd enjoyed a 27% pay rise, worth an extra 620,000. Annual accounts filed at companies House show Finsburys pre-tax profits rose slightly from 8.7 million to 8.8 million in the year ending 31 december 2008. Colliers cash call as losses grow l pRopeRTy agency colliers cRe today tapped investors for an extra 20 million as it revealed growing losses. it plans to raise the funds -- 18.4 million after expenses -- by selling 100 million new shares at 20p each. it also reported a 32% slump in revenues to 27.1 million for the first six months of the year. Losses were 11.8 million against 4.5 million a year earlier. Ready meals suffer in slump l ReAdy meals are suffering in the recession, northern Foods said today. it said first-half results would be in line with management forecasts. Analysts said there was a slowdown in sales in the past three months. Broker panmure Gordon cut its full-year profit forecast by 1million to 36million. Australia Dollars 1.7298 Canada Dollars 1.6336 Denmark Kroner 7.7295 Eurozone Euro 1.0415 Hong Kong Dollars 11.7400 Japan Yen 136.5300 New Zealand Dollars 2.0640 South Africa Rand 11.3600 Sweden Kronor 10.7100 Switzerland Francs 1.5712 UAE Dirham 5.5002 United States Dollars 1.5240 TouRisT RaTes UP 31.79 at 5056.35 fTse 100 dow joNes Nikkei -$ UP 112.08 at 9599.75 UP 17.30 at 9691.80 UP 0.87c at $1.6022 >>for all the latest City share prices, call 0905 817 1694* or visit thisismoney.co.uk * Calls cost 75p/min from a BT landline & last approx 1 min per quote. Not all stocks are available Mobile to exceed fixed-line The number of mobile broadband users in the world will exceed fixed- line users by the end of this year, the United Nations said today. Growth of smart mobile phones and cheap laptops will see global mobile broadband subscriptions hit 600 million as opposed to the 500 million fixed-line subscriptions. Much growth has been in India, Africa and South America, where there is little in the way of traditional fixed-line networks. Swine flu vaccine is a tonic for Glaxo profits GlaxoSmithKline today announced it had started to dispatch its swine flu vaccine around the world, as Britains biggest pharma firm said it has now received contracts for 440 million doses of its pandemic vaccine, thought to be worth more than 2.2 billion. Brentford-based Glaxo said a further 22 countries had placed orders for 149 million more doses of its h1n1 vaccine, suggesting that the company will benefit from a greater-than-expected profit windfall from the pandemic. Glaxo also produces an anti- swine flu mask for front-line health workers and Relenza, an anti-viral drug taken by some h1n1 sufferers, which had sales of 60 million in the six months to July. Glaxo, the worlds second- largest drugs firm, also has a $250million (157 million) contract with the US government to supply swine flu-related products. Glaxo started shipping the drug from its manufacturing plants in Dresden and Quebec this week, including 60 million doses to the UK, and said it is still in discussions with governments around the world about providing further supplies of the vaccine. medical experts have said that the oncoming winter could trigger a second wave of the swine flu virus -- which could give Glaxo an even greater boost. this week, the US band the Backstreet Boys became the latest celebrity victims of swine flu. Just the ticket: cricketers wife Rachael Flintoff in Tesco Tesco keeps its crown as sales leap to 30bnTeSCO today asserted its position as the domi- nant retailer in Britain with another leap in sales and plans for further aggressive expan- sion. The supermarkets chain unveiled half-year results that beat the forecasts of most City analysts and indicate that it is unlikely to be removed from its perch any time soon. Sales in the six months to the end of August jumped 8% to 30.4 billion while trading profits soared 14% to 1.5 billion. That enabled the company to lift its interim dividend by 9% to 3.89p, a boost to pension funds and other investors. Chief executive Sir Terry Leahy felt confident enough to call the end of the recession. I think we are through the worst, he said. Things are getting better and will keep getting better. Tesco has created 6500 jobs this year so far and will hire many thousands more over the festive season. It was a very good performance through a recession. It is a British success story and our customers will have a good Christmas, Leahy said. UK sales rose 2.8% to 20.6 billion. however, trading losses in the US this year are expected to be about the same as last years $259 million (161.4 million). 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