Tullow Oil exploration finds no oil in offshore Mozambique well September 2, 2013 Tullow Oil has failed to find oil at an exploration well in Mozambique, and ended operations at the site (release). Buzio-1 exploration well in Area 2 offshore Mozambique has not encountered hydrocarbons and, following the completion of logging operations, has been plugged and abandoned. The Buzio-1 site is the second deepwater exploration well in Area [...]
Rolls-Royce completes £250m sale of helicopter engine programme September 2, 2013 Rolls-Royce has completed the sale of a 50 per cent stake in the RTM322 helicopter engine programme to Turbomeca, a company owned by rival Safran (release). The €293m (£249m) deal sees Turbomeca assume responsibility for managing the design, production and support for the engine, which powers Apache (pictured), EH101 Merlin and NH90 helicopters. Rolls-Royce will [...]
Vodafone up nearly five per cent on £84bn Verizon mega deal September 2, 2013 Telecom company Vodafone has confirmed that is in advanced discussions with Verizon regarding the disposal of Vodafone's US group (release). That's sent Vodafone shares up nearly five per cent in early trading. The $130bn (£84bn) deal is set to be one of the biggest in corporate history. Verizon's board is expected to meet today to [...]
Vodafone in £84bn selloff September 1, 2013 VODAFONE and Verizon are set to strike one of the biggest deals in corporate history today, once the telecoms giants’ boards vote on a $130bn (£84bn) plan to sell off Vodafone’s stake in Verizon Wireless. Verizon’s board will meet in the States today to approve the terms of the deal, following a meeting of Vodafone’s [...]
Exclusive: Walkie Scorchie melted my Jag September 1, 2013 THE WALKIE Talkie skyscraper in the City has caused extensive damage to a Jaguar parked on a nearby street – as other drivers come forward to say it has also melted parts of their vehicles. As revealed in City A.M. last week, the building’s unusual shape is reflecting an ultra bright light onto Eastcheap, with [...]
Demand for houses rises as Help to Buy takes flak September 1, 2013 DEMAND for housing continued to rise through August, as warnings over the sustainability of chancellor George Osborne’s Help to Buy scheme continued to roll in. According to Hometrack data out today, demand continued to rise last month, with 1.1 per cent more buyers registering with agents, and a 0.4 per cent hike in prices from [...]
City still yet to see real rise in job vacancies September 1, 2013 THE CITY jobs market was 14 per cent quieter than a year ago last month, despite an increase in vacancies since July, figures out today claim. According to recruitment specialists Astbury Marsden, there were 2,490 jobs on offer last month, up 16 per cent from 2,150 in July. However, there are still fewer vacancies than [...]
Assembly wants airport rail links September 1, 2013 Air passengers are discouraged from flying from Gatwick, Luton and Stansted because of relatively poor rail links to these airports, the London Assembly claimed in a report out today. The Assembly’s transport committee called on Howard Davies, who is reviewing aviation for the government, to look at expanding the Oyster system out to airports other [...]
Nelson Mandela returns home September 1, 2013 Anti-apartheid leader and former South African President Nelson Mandela returned to his home yesterday where he will continue to receive intensive care after three months in hospital with a lung ailment. Mandela, 95, had spent 87 days in a Pretoria hospital after he was rushed there in early June suffering from a recurring infection of [...]
BRICS bank will take time September 1, 2013 The BRICS bloc of emerging economies has agreed on the structure of a proposed development bank with $50bn in capital, but ironing out “difficult” details may take months, Russian deputy finance minister Sergei Storchak said. “We must assume that the bank will not start functioning as fast as one could imagine,” Storchak said today. “It [...]