Tullow share price jumps after it finds oil at well in Kenya December 15, 2015 Tullow Oil shares jumped today, after the oil explorer said it had found oil at a well in Northern Kenya, and saw good potential in other underexplored parts of the area. Shares in Tullow, which drills for oil in West Africa, jumped as much as 7.7 per cent to 163.87p per share after Tullow said its Etom-2 well in Northern Kenya [...]
VW’s sales in November stall behind rivals December 15, 2015 Volkswagen has fallen into last place as the emissions scandal continues to weigh on the German car maker. Sales increased by just 4.1 per cent last month, compared to a year earlier, the smallest growth of any car maker in Europe and compared to a rise of almost 14 per cent overall. Read more: VW has no plans to sell off [...]
Carpetright shares rally as half-year profits jump by a third December 15, 2015 Shares in Carpetright leapt this morning as the floorings and beds specialist revealed a 34 per cent rise in underlying pre-tax profits in the first half of the year. The retailer said efforts to win over my customers through its revamped website, stores and better product ranges were bearing fruit, with group revenue rising by 1.4 per cent to £231.2m, and [...]
Australia’s securities exchange ASX falls to 30-month low as US junk bonds and revised economic outlook weigh on sentiment December 15, 2015 The Australian Securities Exchange (ASX) has fallen to its lowest in 30 months, as investors react to selling pressure and a revised economic outlook. The S&P/ASX 200 index rose 0.8 per cent as the market opened, on the back of gains made in the US last night. But by close, it had fallen 0.39 per cent to 4,909.6 points, [...]
Aveva’s share price plummets 36 per cent as it calls off talks with Schneider Electric saying £550m merger would create “significant” challenges December 15, 2015 Aveva's share price plummeted more than 36 per cent this morning after the engineering group called off talks with Schneider Electric, saying a merger would create "significant" challenges "that could not be overcome without considerable additional risk and cost". The two businesses had announced a merger this summer, in which Schneider would have paid £550m for a 53.5 [...]
From the UK general election to Greek debt fears it was an obstacle course for cross-border IPOs in 2015 December 15, 2015 It may have been the year of the mega deal, but the capital markets have suffered in 2015, and it’s been a decidedly poor year for cross-border IPOs. Fears over China’s growth, elections, referendums, and defaults in Europe, as well as uncertainty over the Fed’s rate hike all contributed to a 39 per cent drop [...]
Oil price slide casts shadow over Shell’s £47bn takeover of BG Group December 15, 2015 Shell's mega merger with BG Group was given the green light by Chinese regulators yesterday, but the deal has been rocked after tumbling oil prices led to a major shareholder questioning its viability. The price of international benchmark Brent crude oil yesterday fell to fresh lows of $36.33 per barrel before a rally in early evening [...]
Tech giant patent wars heading for Supreme Court: Samsung appeals patent ruling in Apple and iPhone’s favour over smartphone design December 14, 2015 The latest chapter of the tech giant patent wars sees the drama heading all the way to the US Supreme Court. Samsung appealed a patent ruling in Apple’s favour in a last-minute bid to minimise the over $500m in damages it’s been forced to pay its rival. The Korean tech giant paid $548.2m to Apple [...]
Government advisers back calls for an investigation into ex-HBOS directors December 14, 2015 Two independent government advisers have backed calls for ex-HBOS directors to be investigated by the regulator. Last month the Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA) released a report into why HBOS failed. Iain Cornish and Stuart Bernau told the Treasury Select Committee they supported the conclusions that Andrew [...]
Short sellers eye Anglo American despite “radical restructuring” December 14, 2015 Hedge funds beefed up their positions in Anglo American, even after the miner unveiled a “radical restructuring” which it hopes will enable it to stay afloat amid a prolonged rout in the price of iron ore and other metals. Short-selling interest in Anglo American ticked up from 6.4 to 6.5 percentage of shares on loan [...]