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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Pearson sells off South African stake

Category : Business

Pearson has agreed to end its 50:50 joint venture with South’s Africa’s Times Media Group (TMG) by selling off its half of the publishing group, BDFM, reports the Financial Times.

It means that TMG will gain full ownership of BDFM, which publishes the Business Day newspaper and the Financial Mail weekly magazine and also owns the African Broadcasting Channel.

Pearson has held its 50% stake in BDFM since 1997. TMG already owns some of South Africa’s largest newspapers, including the Sunday Times and The Sowetan, as well as other media assets.

Both Business Day and the Financial Mail have been struggling for some time and BDFM’s editor-in-chief,Peter Bruce, is quoted as saying the two publications are either loss-making or operating on “paper-thin margins”.

Source: FT

New Mail on Sunday mag is a happy Event for print

Category : Business

Event, the Mail on Sunday’s new culture and celebrity magazine, is a serious and very welcome effort to be creative with what print can do

A few random swallows hint at the end of winter in the newspaper trade. There, a few weeks ago, was the Guardian adding a cookery pullout section. Here, under its new provisional editor, is the Sunday Times shuffling its magazine pack and playing a game of “Hunt the AA Gill”. And now, today, as titles called Live and Review go to the great Mail on Sunday knacker’s yard, comes Event, a “brilliant, superb” NEW celebrity and culture mag.

The sell, you may gather, is not exactly soft. Geordie Greig, after a year as MoS editor, is taking his first big leap, and running full tilt. But the real point, amid a welter of glowing adjectives, is that Associated Newspapers is investing in print again.

Its global growth online may be a thing of wonder, especially in America. But here at home, Greig has been allowed – nay, encouraged – to spend time, effort and cash on his day job, the main event.

Some of the hype, for what Geordie calls his target audience of “easyJet Britons” (like him and me, apparently) may seem a tad extreme. A gossip column by Piers Morgan; motoring notes from Chris Evans; Craig Brown on books, Deborah Ross on TV and Tom Parker Bowles doing food. It’s a decent enough line-up, spaciously presented, if not quite a revolution. Few horses shaken or stirred. What’s important, though, is that it’s a properly serious effort to engage editorial brain.

Look at most newspapers over the past few years. They’ve barely changed. Their online presence may have been revamped over and over again, but print has just pottered along. The Sun shines in a design timewarp, even on Sundays. The Mail that drops through the letterbox is much the same. The Mirror tries nothing off the wall.

Fleet Street, by previous standards, is a world that stood still. The buzz words have been integration and contraction, not expansion. Event at least challenges that thesis – and calls attention to one or two things about the Associated empire that make it different.

No, not necessarily the Daily Dacre, fuming over supposed slights to Maggie’s hallowed memory; the way, rather, that it’s more quietly run and organised. Greig’s boss and hero is Jonathan Harmsworth, the fourth Viscount Rothermere, whose 15 years in supreme charge have seen the Daily Mail and General Trust quietly push revenue to £1.9bn in 2012, and turn in profits of £300m or so, operating in 55 countries. Journalism is only a part of that story, but it is still traditionally organised – which today makes it very different indeed.

Greig may have an “editor-in-chief” (Paul Dacre) but, apart from praising the chief’s general support, he seems to operate totally autonomously.

Event looks quite like the Mail’s Saturday TV mag, doesn’t it? “Oh no, it’s younger and much more fun.”

Surely there’s a move to save money by integrating daily and Sunday staffing? No, not in any major way. Greig talks about the value of a dedicated reporting staff in much the same way that Martin Clarke, the king of Mail Online, talks about his own discrete team.

None of the above means that DMGT is internet-averse: click on Wowcher, Zoopla and many more online enterprises to be disabused of that. But there is, still, a continuing warmth for what print can do.

Joe Public spends proportionately more on the Mail on Sunday than on any other paper in Britain, says Greig. Of every pound spent on Sunday papers every week, 25p comes his way. He’s a market leader, then, and theoretically others will follow if Event (with advertising sold out for three weeks already) is a success. But that’s an issue, and an eventuality, stretching far beyond even easyJet queues at Gatwick. It’s about pumping the tigers of creativity and cash into an old tank – and seeing what difference, if any, it makes.

UPM-Kymmene Corp. (UPMKY: OTCQX International Premier) | BlackRock’s holding in UPM has gone above the threshold of 5 per cent

Category : Stocks

UPM-Kymmene Corporation (Business ID 1041090-0) has on 10 April 2013 received an announcement under Chapter 9, Section 5 of the Securities Markets Act, according to which BlackRock Inc.’s indirect holding in UPM has gone above the threshold of 5 per cent on 9 April 2013.

According to the announcement, the indirect holding of BlackRock Inc. (USA Tax ID 32-0174421, SEC CIK Code#: 0001364742) in UPM has increased from 26,245,672 shares to 26,438,944 shares, corresponding to 5.006 per cent of UPM’s shares and voting rights.

UPM-Kymmene Corporation
Pirkko Harrela
Executive Vice President, Corporate Communications

UPM, Corporate Communications
Media Desk, tel. +358 40 588 3284


UPM leads the integration of bio and forest industries into a new, sustainable and innovation-driven future. Our products are made of renewable raw materials and are recyclable. UPM consists of three Business Groups: Energy and pulp, Paper, and Engineered materials. The Group employs around 22,000 people and it has production plants in 17 countries. UPM’s annual sales exceed EUR 10 billion. UPM’s shares are listed on the Helsinki stock exchange. UPM – The Biofore Company –

Read this article: UPM-Kymmene Corp. (UPMKY: OTCQX International Premier) | BlackRock’s holding in UPM has gone above the threshold of 5 per cent

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Inkjet or laser printing: which is more cost-effective?

Category : Business

With the standard inkjet cartridge now producing a measly 200 pages, we look at whether laser printers represent a cost-effective alternative for the home consumer

Back in 1969, a graduate named Gary Starkweather, working in the copier department at Xerox in the US, had a visionary idea. He wanted to utilise new laser technology to create a radically different type of printer. It would scan an image, transfer it electrostatically, and then use heat to fuse tiny specs of toner dust on to a piece of paper.

The top brass at Xerox thought his idea was wildly unrealistic. But Starkweather persisted and a decade later the first commercial laser printers went on sale. The only drawback was that they were the size of a small car – and equally expensive.

As home printing took off three decades ago, it was cheap inkjet models – which simply hammered tiny dots of ink on to paper – that would end up in most people’s homes. The bulky laser version was a business-only product.

However, the last few years have seen the size and price of laser printers drop dramatically. Some models can now comfortably fit on a desktop.

Basic monochrome models can be bought for less than £100, although more sophisticated colour versions – with features such as Wi-Fi and duplex printing – can sell for three times that, and more. This compares with the £50 and less that inkjet printers sell for. So a laser will only make sense if the savings on ink outweigh the extra cost of the machine.

Standard laser cartridges – coloured toner (dry ink), typically cyan, magenta, yellow, and black (CMYK) – contain a lot of intricate components, print anything from 1,500-3,500 pages but can set you back a hefty £60-£120 each. Still, that compares well with the measly 200 pages you are likely to get from the standard inkjet cartridge costing around £15.

So do laser printers now represent a cost-effective alternative for the home consumer?

“It depends on how many pages you print,” says Patrick Stead, head of cartridge recycler Environmental Business Products. “Laser can be better value over the longer term, but the initial outlay can be a lot more.”

Hewlett Packard manufactures more than half of the printers sold in the UK. Its bestselling HP Deskjet 3050A inkjet retails for about £90. The cartridges sell for £10-£15 and have a standard page yield of 190 (black) and 165 (colour).

The company’s top-selling HP CP2025 colour LaserJet sells for about £300. Cartridges retail for about £110 and have a page yield of 2,800 (colour) and 3,500 (black).

Cursory number-crunching indicates that if you print only, say, 1,000 pages a year – based on ISO standard 5% paper coverage – then the inkjet, at about 5p per page, is better value

But for anyone who prints more than 2,000 pages a year, a laser printer, at about 3p per page, is cheaper. The savings increase the more you print. A screenwriter, for instance, who prints 10,000 pages, stands to save hundreds of pounds by switching.

“If you print a lot of black and white documents then a laser can save you a lot of money,” says Laura Heywood, managing director, at laser cartridge remanufacturer Kleen Strike.

But inkjet does have its advantages. At the domestic end of the market the print quality is higher and the colour definition better. “If you print mostly photos then you probably want to stick with an inkjet printer,” Heywood adds.

David Connett, editor of industry magazine The Recycler, says: “If you’re buying a laser printer, it’s important to work out what you’re going to use it for before deciding on a model. As a rule of thumb, the cheaper the printer, the smaller the cartridge, and the lower the page yield.”

Samsung’s ML2160 monochrome laser printer, for example, costs about £50. But the cartridges also cost £50 – and print a comparatively modest 1,500 pages.

“Do not buy a laser printer on price alone,” says Heywood. “Always look at the cost of the replacement cartridges and their print yield.”

One way to save money on these is to buy refilled cartridges, which can be 30-50% cheaper than the original price, according to the European Toner & Inkjet Remanufacturers Association.

Peter Thompson, director at laser cartridge recycler PBT International, says: “Properly remanufactured laser cartridges are excellent value. But some producers find ways to cut corners, which can result in leakage and sometimes uneven printing. Try to buy from a reputable seller.”

Experts say it’s always worth investing in a laser that supports duplex printing – printing on both sides of the paper – which cuts down on energy and paper consumption.

“Some laser printers automatically print on both sides,” says Connett. “Other models allow you to reinsert pages manually to print the second side. And some do not support duplex printing at all.”

It may also be worth buying a printer that is Wi-Fi compatible so that one click of a button will allow you to print, whether from laptop or smartphone.

Thomson concludes: “If you think how little ink is in the average inkjet cartridge compared to the average laser cartridge the economics are in favour of laser. Sometimes the cartridge prices aren’t that different. But those for the laser can last an awful lot longer.”, Inc. (LFLS: OTC Pink Current) | starts cost effective advertising

Category : Stocks has started a California newspaper advertising campaign which is

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Category : Stocks, World News has started a California newspaper advertising campaign which is

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Pre-Marketing: Private equity’s next gun battle

Category : Stocks

Battle for Outdoor Channel: Gun debate colors buyout bid. Also: Blackberry 10 roll-out: Death by a thousand paper cuts.

Go here to see the original: Pre-Marketing: Private equity’s next gun battle

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New editor of the Times appointed

Category : World News

The editor of the Sunday Times, John Witherow, is appointed acting editor of the Times, despite opposition from the paper’s independent directors.

See the article here: New editor of the Times appointed

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Print suddenly spies hope amid the struggle and the losses

Category : Business

Circulation and advertising continue to slip – but, both here and in the US, a determination is now emerging to fight the decline rather than merely manage it

December’s newspaper ABC sales figures put a wrap on 2012. It wasn’t, on the face of it, a great year. Circulations kept sliding – by as much as a headline 34.7% for the Independent and 14.2% at the FT. Advertising didn’t recover. Where there’d been losses in 2011, there were more in the months that followed. And yet – curiously – the encircling gloom grows too much to take. There are reasons to be very cautiously cheerful about 2013. Here are a few of them.

Watch newspaper shares – and salaries – recover in the US. Media and publishing pay rose more decisively in the last three months of 2012 than at any time in the past six years. Gannett, the biggest American chain, is forecasting between 2% and 4% annual growth as it gets its online and print strategies better aligned, with digital revenues of $1.3bn already achieved. Nobody, rightly or wrongly, believes that they haven’t touched bottom yet.

And what works there can surely begin to work here, too. Local World – the fresh, enhanced face of Northcliffe Media – and the Johnston Press are both taking a Gannett-style digital-cum-print-cum-area-domination approach to news. And part of that stance – explicitly in Local World’s case – means an end to cutting-back and paring staff resources. There’s a little bit of belief out there again, and a recognition that words matter on paper as well as on screen – and thus that content matters most of all, because without it there’s nothing to buy.

That’s why the Guardian and Observer’s move to put the week’s best-selling days together as a weekend of print immersion is important. It follows the pattern of actual reader demand. It sees where the market is heading. It puts thought and effort into developing the print part of the equation. And it adds sections – such as Cook on Saturday – rather than subtracts.

When creative minds concentrate on media present as well as media future, they can still have an impact. Sales of the Independent group’s i are up 31% in a year. The free Evening Standard says it’s making money at last. The free City AM has never enjoyed greater distribution. Three paid-for papers – the FT, Guardian and Telegraph – increased sales in December over the month before.

If you’d asked, even 12 months ago, whether the Sun or the Mirror was in ruder health, there’d have been no escape from the buoyant Bun. But now, under a new chief executive and new overarching editor, Lloyd Embley, Mirror sales decline over the year is only 5.27% while the Sun has slumped 10%. Moreover, the old Murdoch tabloid magic doesn’t seem to be working on Sundays either. His precious Sun on Sunday was down more than 6% in December, by far the worst national performance going.

Big isn’t always automatically beautiful, then. Embley can’t compete with Wapping’s resources, but he can do much better than survive. The superbly resilient John Mullin accumulates prizes and praise for his Independent on Sunday on the shortest of shoestrings. Tony Gallagher, feet well under the table at the Telegraph now, has clearly steadied that ship. Geordie Greig seems to be negotiating the Associated atrium tightrope over to the Mail on Sunday with some aplomb.

You can read too much into number crunchings. The demise of the News of the World still befogs Sunday comparisons. The progressive shedding of bulks and foreign “sales” mists the scene up top. Some losses are posted because supplies are not sent any longer on cost grounds. (Ask deprived Independent readers in Ireland! Gloom confected.) The FT is down because its digital subscriptions are up. The i has deliberately sucked copies away from the Indy. Nobody, remotely, can call this a steady state.

But it is a slightly steadier state. The analysts of Wall Street may never expect to see newspaper sales hit the heights of 2002 again; but they advise investors to “buy” as well as “sell” once more. Productivity can and does mean fatter pay packets. There’s a drawing of a breath, a pause, a resolve to develop what’s there, as well as what might be.

As Sir Ray Tindle, the old crown prince of print, tells his employees this year, the Comets and Woolworths of recession are gone, but more than 1,000 local papers have so far been saved to prosper. The ABCs will still be there in 2014, then. No XYZs yet awhile.

The writing is on the paywall – but the end of print is not quite nigh

Category : Business

The figures show the print-online relationship is more complicated than the prophets of digital revolution assume

Transition. It’s a soothing word and a calming concept as the old year ends. Change may frighten some and challenge others. Change is a leap in the dark. But transition means going surely and sweetly from somewhere present to somewhere future. Unless, that is, it is newspapers’ “transition” to the world of cyberspace, an uncertain and highly discomfiting process – because, frankly, it may not be a process at all.

But surely (you say) that must be rubbish. Everybody knows that print newspaper sales are plummeting while unique visits to the same papers’ websites go soaring on. Just look at the latest ABC print circulation returns. The Telegraph, the Guardian and many of the rest are down overall between 8% and 10% year-on-year: but their websites – with the Mail breaking 7

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