Westminster attacks Scotland’s independence finance claims December 18, 2013 THE SCOTTISH government’s plan for independence includes a £1.3bn hole, the Treasury claimed yesterday, ramping up London’s campaign for a no vote in next year’s referendum. A plan published last month by Holyrood argues an independent Scotland would have a lower national debt and lower budget deficit as a proportion of GDP than the remainder of [...]
Catastrophe bill halves in 2013 December 18, 2013 THE COST to insurers of catastrophes almost halved to about $44bn (£27bn) this year, despite a doubling in deaths caused by events such as Typhoon Haiyan, Swiss Re said yesterday. Haiyan was the event causing the highest loss of life this year, resulting in the death of more than 7,000 from some of the strongest [...]
Essar Energy rises as it reaffirms positive outlook for business December 18, 2013 INDIA-FOCUSED energy company Essar Energy yesterday reiterated its positive outlook for the business, after a recent fall in the share price. The FTSE 250-listed firm’s shares went up four per cent yesterday morning in response to the news. “Energy demand in India will continue to be strong for many years to come and I believe [...]
Shares in Bwin.Party jump 8pc after bullish growth forecast December 18, 2013 BWIN.PARTY yesterday reported a positive outlook for 2014 with growth expected in the US. The gambling company also said that trading in the 11 weeks since the end of September 2013 was in-line with its expectations. Its share price rose 8.4 per cent to 125.4p on the news. In 2014 Bwin expects the FIFA World [...]
Tullow to plug and abandon well December 18, 2013 FTSE 100-listed energy explorer Tullow Oil yesterday said it plans to plug and abandon a Cote d’Ivoire well after hitting water below the oil accumulation discovered at a nearby well, reducing the size of the find. “The…well has efficiently identified the likely depth of the oil water contact and we are reviewing the resource range [...]
Pallet maker RM2 to float on Aim December 18, 2013 Pallet manufacturer RM2 yesterday said it plans to launch an initial public offering on Aim, which will raise £137.2m to finance the expansion of its production capacity. The company expects to start trading on 6 January 2014 with an initial market capitalisation of £278.3m and is the largest float on Aim in a year. RM2 [...]
Darty shares boosted as sales rise December 18, 2013 Darty’s recent turnaround have boosted the French electrical manufacturer as operating profits for its first half rose 25.6 per cent to €15.2m, the company said yesterday. Revenue rose 1.8 per cent on a like-for-like basis sending its shares up 3.5 per cent. The company also announced plans to sell it Turkish unit to concentrate on [...]
London’s west end tops list of pricey offices December 18, 2013 LONDON’S west end has unseated Hong Kong Central as the world’s most expensive office market, regaining the top spot it lost three years ago. The cost of renting an office in the west end has shot up by 14.3 per cent in the past year to $259.36 per square feet, driven by a squeeze in [...]
Inside Track: My top tip for 2014: Deutsche Post will buy Royal Mail December 18, 2013 IT wouldn’t be the final column of a calendar year without some predictions for the next 12 months. Here are my top three: Royal Mail will complete a journey from being wholly-owned by the UK state to wholly-owned by a German enterprise within little more than 12 months. Deutsche Post won’t get it delivered cheap, [...]
Bottom Line: Firms are willing to pay again to be in the middle of the action December 18, 2013 LONDON has always had its sector specific hotspots. Broadly speaking, those looking for underwriting advice should use the Gherkin as their marker, while tech geeks sat-nav their way to Silicon Roundabout and hedgies head for Mayfair. The grand old townhouses of the St James and its surrounds are a natural home for these discreet financiers, [...]