Cuadrilla submits fracking plans May 29, 2014 Energy company Cuadrilla yesterday said it has submitted a planning application to Lancashire County Council (LCC) for its proposed Preston New Road shale gas exploration site. The proposal covers the works required to frack for the resource from up to four exploration wells. An environmental assessment has been submitted with the planning application. The firm [...]
Law firms hire external execs May 29, 2014 Almost a quarter of British law firms now have one or more non-executive directors on their board, as firms seek to hire specialist external management teams to compete in an increasingly commercial sector. Some 24 per cent of the UK’s Top 100 law firms have added a non-exec to their board, according to executive search [...]
A&B shops left after rescue are closed down May 29, 2014 ADMINISTRATORS for the high street pawnbroker Albemarle & Bond have closed most of the 59 stores not rescued by Promethean last month as they work to release money from the remains of the business. According to documents filed recently at Companies House, Albemarle & Bond Holdings has debts to trade creditors in the region of [...]
Future Publishing sells off sport and craft magazines for £24m May 29, 2014 FUTURE Publishing yesterday announced plans to sell off part of its sport and craft magazines portfolio, which includes titles Mountain Biking UK and The Knitter, to raise up to £24m for the business. The sale of the titles to Immediate Media is designed to streamline Future Publishing’s focus on consumer technology magazine markets. “The disposal [...]
Mobile banking up while fewer carrying cash May 29, 2014 THE USE of mobile banking has increased in the last year while use of cash is down significantly, according to results of an ING bank survey. The survey was conducted by Ipsos between 20 February and 14 March 2014, covering 13 European markets and with a total sample size of more than 12,000. It found [...]
UK manufacturing and industrial firms set to consolidate this year May 29, 2014 ALMOST three quarters of UK-listed manufacturing and industrial companies expect M&A activity to increase this year, according to a new report released yesterday. Interest from private equity firms will be the primary driver for this, according to nearly 44 per cent of the executives surveyed by Deloitte in its bi-annual manufacturing and industrials M&A predictions [...]
Royal Dutch Shell signs gas deal with Japanese electric company May 29, 2014 ROYAL Dutch Shell yesterday said it has signed a deal to start supplying liquefied natural gas (LNG) to one of Japan’s largest electric companies, Chubu Electric Power. The FTSE 100-quoted energy giant will supply up to 12 cargoes of LNG a year for the next 20 years through its Singapore-based subsidiary Shell Eastern Trading. Chubu [...]
Rio Tinto hires Australian former politician as new board director May 29, 2014 MINING giant Rio Tinto yesterday said it has hired Australian former politician Michael L’Estrange to join its board. The academic and policy adviser has held senior government roles including cabinet secretary, before moving to London to serve as Australia’s high commissioner to the UK in 2000. He returned to Australia as secretary of the department [...]
Magnolia well starts production May 29, 2014 US-focused oil and gas explorer Magnolia Petroleum yesterday said it has started production at the Parmley 1-1WH well in Woodford, Oklahoma, with net initial output rates of 54 barrels of oil per day. The Aim-listed firm said production is expected to decline from initial elevated levels. “In line with our strategy, revenues generated from Parmley [...]
Caza soars on successful test well May 29, 2014 Aim-listed Caza Oil and Gas saw its share price soar almost 28 per cent yesterday, after announcing an “excellent result” on an initial test well on its Gramma Ridge Property in New Mexico. The energy explorer said output rates had steadily increased, with the well producing 830 barrels of oil and 4.63m cubic feet of [...]