A2Dominion launches retail bond October 2, 2013 Social housing group A2Dominion became the latest company in the sector yesterday to tap the public market for cash after launching a retail bond. The company hopes to raise around £140m from the unsecured sterling bond, which has a coupon of 4.75 per cent and is due in 2022. One of the UK’s largest housing [...]
Quintain sells regional portfolio October 2, 2013 Quintain Estate, the property developer behind two vast regeneration schemes in Greenwich and Wembley, said yesterday it has sold its regional investment property for £39m as it looks to strengthen its focus on the London market. Palace Capital, an AIM-listed firm, has conditionally exchanged contracts to buy SeQuel, along with an additional property, Gelderd Point [...]
Taylor Wimpey merges pensions October 2, 2013 Taylor Wimpey yesterday announced it has successfully merged two legacy pension schemes to create the Taylor Wimpey Pension Scheme, helping to save £800,000 in costs per year. The housebuilder said it merged the George Wimpey Staff Pension Scheme and the Taylor Woodrow Group Pension & Life Assurance Fund to create the single new scheme with [...]
Research shows no Asian crisis repeat on cards October 2, 2013 TWO NEW reports released yesterday suggest that despite a squeeze on emerging markets over the summer, talk of a crisis in developing economies is overblown. The Asian Development Bank’s most recent outlook report, released yesterday, cut its growth forecast for Asian countries in 2013 to six per cent, down from 6.6 per cent in April’s [...]
Hochschild Mining plans to buy remaining Peru assets for £172m October 2, 2013 FTSE 250-listed Hochschild Mining said yesterday it plans to raise up to $96m (£59m) through an equity placing to help it buy the remaining 40 per cent stakes in its Peruvian assets for $280m. The Latin America-focused precious metals miner said it has agreed to buy the 40 per cent stakes held by International Mineral [...]
Russian government sells 14pc stake in diamond miner Alrosa October 2, 2013 THE RUSSIAN government plans to sell off a 14 per cent stake in Alrosa, the state-owned diamond miner said yesterday. A Moscow public offering for the world’s largest diamond miner based on volume has been in the pipeline for over a decade, as the Russian government looks to bolster its coffers. Russian federal and regional [...]
Soco well test beats expectations October 2, 2013 FTSE 250-listed oil and gas explorer Soco yesterday said that testing of a well in Vietnam had exceeded expectations, with production reaching over 27,600 barrels of oil per day. “This has turned out to be a great well, representing one of the most prolific individual wells ever tested in Vietnam,” said president and chief executive [...]
Global air travel rises in August October 2, 2013 Airlines flew passengers 6.8 per cent further in August than during the same month last year, figures out yesterday showed. The summer peak saw a 7.5 per cent rise in demand for international air travel, with particularly strong growth in Europe and North America. The International Air Transport Association, which represents four-fifths of the industry, [...]
Shell boosts production in Brazil October 2, 2013 Oil major Royal Dutch Shell said yesterday that along with its partners Petrobas and ONGC, it has begun the second production phase of the Parque das Conchas project, which is located off Brazil’s south east coast. Peak production of the first phase, which started in 2009, was more than 90,000 barrels of oil per day [...]
City Moves for 3 October 2013 | Who’s switching jobs October 2, 2013 ICAEW The Institute of Chartered Accountants in England and Wales has appointed Liz Rylatt as executive director for finance, operations and members. Rylatt was a chartered accountant at KPMG before joining the BBC, where she was chief management accountant. Coutts The bank has hired Hans Prottey as a corporate finance specialist and executive director in its strategic [...]