Statoil spurs fuel hopes in Norway after striking oil in the Barents Sea January 9, 2012 NORWEGIAN oil firm Statoil has made a second big oil discovery in the Barents Sea in less than a year and predicted more discoveries to come in the region, further boosting the remote Arctic region’s oil prospects. The discovery will also improve the oil prospects of Norway, the world’s eighth-largest oil exporter and the second-largest [...]
PROVEXIS SPONSORS OLYMPIC ROWERS January 9, 2012 Provexis has signed a five-year deal to be the official supplier of drinks and nutrition products for the GB Rowing Team. The sponsorship renews a relationship between the Aim-listed sports nutrition company and the team (pictured) and takes in the Olympics. Picture: GETTY
Black cab firm in profit alert January 9, 2012 Black cab maker Manganese Bronze has said it made no profit in 2011 and could fall miss targets this year. The group blamed the weak UK economy, uncertainty over the global economic outlook and a delay in fulfilling an order for 1,000 taxis from Azerbaijan. The firm sold 1,502 taxis in the UK last year, [...]
Enquest makes Kraken deal January 9, 2012 UK-focused oil firm Enquest yesterday announced a deal to buy a 20 per cent stake in the Kraken oil discovery in the North Sea. The deal, which lifted Enquest’s share price 2.7 per cent, also boosts Enquest’s new partner in the field, smaller explorer Nautical Petroleum. “Enquest moving in strengthens the partnership there and endorses [...]
CITY MOVES | WHO’S SWITCHING JOBS January 9, 2012 Just-Eat The world’s largest online takeaway business has appointed John Hughes as chairman to replace Klaus Nyengaard, who continues as group chief executive. Hughes previously held senior positions at Thales Group, Lucent Technologies and Hewlett Packard. He is also chairman of Telecity Group and a non-executive Director of CSG Systems International. In addition, he is [...]
BEST OF THE BROKERS January 9, 2012 ARM HOLDINGS FinnCap rates the Cambridge-based chipmaker as a “hold” with a target price of 575p, saying the company is at the heart of the mobile revolution, with its low power products ubiquitous in smartphone and tablet processors. The broker says the shares are “worth picking up on a bad day”, with plenty of upside [...]
SNB’s Hildebrand resigns over currency trade scandal January 9, 2012 Swiss National Bank (SNB) chairman Philipp Hildebrand is resigning with immediate effect after a scandal over a controversial currency trade made by his wife, the SNB said. The SNB said in a brief statement that Hildebrand would speak about his decision at a media briefing in Berne and make available a number of unspecified documents. [...]
Lloyds chief Horta-Osorio “thrilled” to be back at work January 9, 2012 Lloyds Banking Group Chief Executive Antonio Horta-Osorio said he was “thrilled” to return to work on Monday after a two-month absence due to fatigue, but faces an even bigger challenge turning around the part-state-owned lender than when he left. “I am thrilled to be back and I look forward to working with my colleagues again,” [...]
FTSE dented by GSK January 9, 2012 The FTSE 100 was dented by pharmaceutical giant GlaxoSmithKline today after concerns over one of its new treatments. GSK shed 2.6 per cent after reported problems with tests on its lung medication Relovair. Traders and investors were eyeing events in Berlin where German leader Angela Merkel and French President Nicolas Sarkozy are meeting today. The [...]
FTSE solid as banks edge up January 9, 2012 The FTSE 100 saw modest advances today ahead of talks between France and Germany on how to create the environment for a sustained recovery in the Eurozone. The bloc’s debt crisis will be top of the agenda when German Chancellor Angela Merkel and French President Nicolas Sarkozy meet in Berlin. Later this week the European [...]