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Embattled oil producer Afren's share price closed down 13 per cent today, after major credit ratings agency Standard & Poor's (S&P) warned of a possible default. Afren's share price had fallen as much as 15.8 per cent to 9.35 per pence share in mid-morning trade. However, it was still above this year's low of 4.2 pence [...]
Tesco has fallen under the scrutiny of yet another regulator, as a huge black hole in profits continues to raise questions about the supermarket's practices. In September last year, Tesco revealed that it overstated its group profits for the six months to 23 August by an estimated £250m, which was soon revised up to £263m. [...]
APPLE was last night issuing new bonds thought to be worth $5bn (£3.3bn) to fund a host of “general corporate purchases,” including share repurchases. Despite its record quarterly profits of $18bn, the tech giant is making the most of historically-low costs of corporate borrowing. In its Securities and Exchange Commission (SEC) filing Apple said the [...]
Shares in oil firm Afren shot up by 88.7 per cent yesterday, following news at the close of trading on Friday that the company has been given extra time to repay its debts. The Africa-focused firm has obtained a deferral of a $50m (£33m) amortisation payment, which was due on 31 January, until 27 February, [...]
Quindell has moved to reassure investors that talks are still ongoing with legal giant Slater & Gordon after its share price tanked this morning. The troubled insurance claims processor, whose share price had been rallying since the start of the year, saw its share price fall by as much as 20 per cent today. [...]
Embattled oil producer Afren will have to wait a little longer before it learns if rival Nigerian company Seplat is going to make it a formal takeover offer. Seplat now has until 5pm on 13 February to decide whether it'll firm up an informal offer originally made in December. City analysts had voiced doubts over [...]
Embattled oil producer Afren will today find out if it's been thrown a lifeline by rival company Seplat, a move that could provide one possible solution to the company's funding crisis. Nigerian oil and gas explorer Seplat recently extended the deadline for its informal takeover offer – but at 5pm tonight its time will be [...]
Tomorrow could be the day of reckoning for beleaguered oil and gas company Afren, whose shares crashed 72 per cent just two days. Nigerian rival Seplat has until tomorrow to make an offer, although it could ask for another extension, as it did … . throw it a lifeline … "We see low likelihood of an [...]
Shares in insurance group Saga shot up by 10.8 per cent yesterday after the firm announced it had bought motorbike insurer Bennetts for £26.26m. Saga, which specialises in cover for the over-50s, said the deal was in line with its strategy to expand its offering via broker services. Bennetts, which was previously owned by BGL [...]
SHARES in troubled oil firm Afren lost over two thirds of their value yesterday, plummeting by 71.7 per cent after the firm announced that it is reviewing the funding and liquidity requirements of the business. The company said it was seeking to address how it manages the overall leverage position of the company “in light [...]
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