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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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REPEAT-MEDIA ADVISORY/PHOTO OPPORTUNITY: The More We Walk, the More They Can Talk in Ontario

Category : World News

- BMO employees in Ontario will be walking with community members in support of Kids Help Phone in the Walk so Kids Can Talk presented by BMO on Sunday, May 5

- Thousands of BMO employees participating in more than 30 community and virtual walks across Canada

Read this article: REPEAT-MEDIA ADVISORY/PHOTO OPPORTUNITY: The More We Walk, the More They Can Talk in Ontario

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Qatar fund buys into India’s Bharti

Category : Business, World News

India’s largest mobile phone operator, Bharti Airtel, agrees to sell a 5% stake to Qatar Foundation Endowment as it looks to strengthen its finances.

Link: Qatar fund buys into India’s Bharti

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Cielo SA (CIOXY: OTCQX International Premier) | Cielo: 12.2% Increase in Financial Volume and Net Income of R$641 Million in 1Q13

Category : World News

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Cielo: 12.2% Increase in Financial Volume and Net Income of R$641 Million in 1Q13

PR Newswire

BARUERI, Brazil, May 2, 2013

BARUERI, Brazil, May 2, 2013 /PRNewswire/ — Cielo S.A. (BM&FBOVESPA: CIEL3 / OTC: CIOXY) announces today its results for the first quarter of 2013. The Company’s consolidated financial statements are presented in accordance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and in accordance with the accounting practices adopted in Brazil.


  • Transaction financial volume under the market criterion totaled R$97.6 billion, up 11.6% or R$10.2 billion as compared to 1Q12; under the accounting criterion, the volume was R$98.8 billion, up 12.2% year-on- year, or R$10.7 billion;
  • Net Operating Revenue of R$1.5 billion, up 28.4% or R$342.2 million year-on-year, but down 2.8% or R$45.0 million quarter-on-quarter;
  • EBITDA of R$874.5 million, up 13.8% or R$105.9 million year-on-year and 5.8% or R$48.3 million quarter-on-quarter;
  • EBITDA margin at 56.5%, down 7.3 p.p. year-on-year and up 4.6 p.p. quarter-on-quarter;
  • Cielo’s net income totaled R$640.9 million, up 13.1% or R$74.3 million year-on-year and 5.0% or R$30.6 million quarter-on-quarter;
  • Cielo’s net income margin at 41.4%, down 5.6 p.p. year-on-year and up 3.1 p.p. quarter-on-quarter;

Click on the link below to open the earnings release:

1Q13 Earnings Conference Call

May 03, 2013


10:30 a.m. (NY) | 11:30 a.m. (Brasilia)
Phone: +1 786 924-6977
Code: Cielo


09:00 a.m. (NY) | 10:00 a.m. (Brasilia)
Phone: +55 11 4688 6361
Code: Cielo

Investor Relations Director

Roberta Noronha

+55 11 2596 1735


Continued here: Cielo SA (CIOXY: OTCQX International Premier) | Cielo: 12.2% Increase in Financial Volume and Net Income of R$641 Million in 1Q13

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Nokia introduces the Nokia Asha 210, the most social Asha yet

Category : Stocks, World News

A fast and responsive QWERTY phone with the world’s first WhatsApp button

Read more: Nokia introduces the Nokia Asha 210, the most social Asha yet

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Apple shares fall below $400 mark

Category : World News

Shares in Apple fall to their lowest level in more than a year, on fears of slowing sales at the computer and mobile phone giant.

Read the original: Apple shares fall below $400 mark

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Clearer phone charges ‘on the way’

Category : World News

Customers who use phone numbers beginning with 08, 09 or 118 should in future have a much clearer idea of how much their calls will cost, Ofcom says.

Read this article: Clearer phone charges ‘on the way’

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OFT to look into smartphone games with costly in-app add-ons

Category : Business

Reports of children running up bills for hundreds of pounds by clicking through to paid-for content sparks investigation

Free iPad and smartphone games which can result in children running up hefty bills for their parents through expensive in-game features are to come under scrutiny from the Office of Fair Trading.

More than a quarter of children aged between five and 15 now own smartphones according to Ofcom, and many more have access to their parents’ devices. A whole industry has grown up around apps for them. Many are based on popular characters including the Smurfs and Playmobil and while the initial game can be downloaded for free, players are offered a range of costly upgrades.

Reports of children running up bills for hundreds of pounds by clicking through to this paid-for content are increasingly common, and in one case a parent reported being hit with charges of more than £3,000.

“We are concerned that children and their parents could be subject to unfair pressure to purchase when they are playing games they thought were free, but which can actually run up substantial costs,” said Cavendish Elithorn, the OFT’s senior director for goods and consumer.

The regulator will look into the marketing of these “in-app purchases” – additional content such as virtual currency, extra levels and upgraded features which can cost anything up to £70 a time. On the Smurfs Village game, for example, a wagon of Smurfberries costs £69.99. It has written to games developers and hosting services, and is asking parents and consumer groups to contact it with information about any potentially misleading or commercially aggressive practices they are aware of.

The OFT has not estimated the size of the market, but it said that of the 100 top grossing apps in the Android store, 80 were offered for free and made their money through sales of additional content. In a further indication of how much the market could be worth, in February Apple agreed to pay around $100m compensation to parents in the US whose children ran up huge bills using free apps downloaded from its iTunes store.

Justine Roberts, founder and CEO of the parenting website Mumsnet, said she had seen regular complaints about children unwittingly running up gigantic phone bills. “It’s all too easy for children to get sucked into games and before you know it they’ve racked up huge costs buying coins, berries and doughnuts,” she said.

Many of the parents reporting unexpected bills have talked about the ease of making a purchase, with children only having to click on a link to buy content if the device is already logged in to the Apple or Android store. However, the OFT’s initial investigation will not focus on the mechanisms of making a purchase, but on whether the way the add-ons are marketed breaches consumer law.

It said it would look in particular at “whether these games include ‘direct exhortations’ to children – a strong encouragement to make a purchase, or to do something that will necessitate making a purchase, or to persuade their parents or other adults to make a purchase for them”.

It will also consider whether the full cost of some of these games is made clear when they are downloaded or accessed.

Eithorn said the OFT was not looking to ban in-app purchases, but that the games industry needed to ensure it was complying with the relevant regulations. “We are speaking to the industry and will take enforcement action if necessary,” he said.

The OFT expects to publish its next steps by October 2013.

Web games get fair trading scrutiny

Category : World News

Web and phone games aimed at children that charge for extras are being investigated by the Office of Fair Trading.

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Do we need a new type of phone bill?

Category : Business, World News

Do people understand their mobile phone bills?

See the original post: Do we need a new type of phone bill?

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