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PRESS DIGEST - British business - July 19

Speculation is rising that Cape Lambert Iron Ore (CFE.AX: Quote, Profile, Research, Stock Buzz) may receive a bid from Evraz (HK1q.L: Quote, Profile, Research, Stock Buzz) which has built up a 19 per cent stake in the Australian iron ore miner. Cape said that it had met Evraz representatives in Singapore but had nothing to tell shareholders 'at this time'. If Evraz wishes to secure iron ore for its steel furnaces, it will need to bid before July 28 when Cape's shareholders approve the sale of its main asset, its Australian iron ore deposit, for 195 million pounds to CMC. Shares in Cape closed at 40.5 pence, up two pence.

RUMOUR OF THE DAY

Coffeeheaven saw its shares rise 2.5 pence to 41.25 pence on Friday on talk of a bid in the region of 57 of 58 pence next week. more

Google's Lively, but not adding much for the business community

However, if you are expecting a useful business focused application to add to your Google Account along with Adwords, Analytics and Apps, you'll be disappointed. Think Second Life meets IMVU, the avatar based 3D social network popular with teens, and you're there. A useful tool for those of us with an income from something other than a paper-round it ain't. Unless, of course, your company made so much money from its store on Second Life that you want to open a second branch. I have downloaded the (IE and Firefox for XP or Vista only) browser plug-in and will be taking a stroll around the various rooms in this virtual world over the next few weeks. Expect me to report back immediately if I find any great commercial opportunities. Ian Hendry WeCanDo.BIZ http://www.wecando.biz

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Verizon’s wireless business shines; ‘Comfortable’ with FiOS adds

Verizon topped its second quarter targets Monday courtesy of a strong wireless business and executives said demand is holding up despite economic concerns.

The telecom giant reported second quarter earnings of 66 cents a share and 67 cents a share excluding integration costs. Wall Street was expecting earnings of 65 cents a share. Revenue was up 3.7 percent from a year ago to $24.1 billion, a tally that was roughly in line with expectations.

Verizon's big story–as is the case with most quarters (statement)–was the company's wireless business, which continues to enjoy decent subscriber growth and low churn. AT&T also had strong wireless results. The takeaway: AT&T and Verizon are taking share from other carriers, but not necessarily each other. In fact, Verizon said it hasn't seen any defections due to AT&T's iPhone launch (despite what you could argue is a weaker phone lineup). more

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