WHAT THE OTHER PAPERS SAY THIS MORNING August 18, 2010 FINANCIAL TIMES EXXON ABANDONS ITS $4BN BID FOR GHANA OIL STAKE Following months of battle with Accra, ExxonMobil, the world’s biggest western oil company, has given up trying to acquire a share of Ghana’s giant Jubilee oil field from Kosmos, the American oil company. The $4bn deal was heavily opposed by Ghana’s government and its [...]
LSE’s Indian adventure gives hope for future July 28, 2010 Stock exchanges continue to be a hot topic for debate both in the City and the wider global markets. Global equity issuance may be at its lowest point since 2005, with just $309bn (£198.2bn) raised in the first half of 2010 as sovereign debt fears weighed heavy, but interest in market developments and competition remains [...]
A&O bullish as profit up 10pc despite slump June 30, 2010 ALLEN & OVERY (A&O) is the first of the UK’s largest law firms to reveal financial results, posting a four per cent decline in turnover and a 10 per cent hike in profits. The “magic circle” law firm saw revenue for the year ending 30 April fall to £1.05bn from £1.09bn it posted the previous [...]
THOUSANDS TURN OUT FOR GREAT CITY RACE July 15, 2010 THAT time of year seems to have crept up on us again, when thousands of City runners take to the streets for the most popular race of the year – the Standard Chartered Great City Race. After a chilly, blustery day, the sun finally came out to shine on the gathered throng, who signed up [...]
THOUSANDS TURN OUT FOR GREAT CITY RACE July 15, 2010 THAT time of year seems to have crept up on us again, when thousands of City runners take to the streets for the most popular race of the year – the Standard Chartered Great City Race. After a chilly, blustery day, the sun finally came out to shine on the gathered throng, who signed up [...]
Tories gain more support for jobs tax pledge April 6, 2010 THE TORIES were last night claiming another victory in the battle over National Insurance, after three business leaders added their names to a letter condemning Labour plans to hike the “tax on jobs” after the election. Tory sources said that Yell chairman and ex-Merrill Lynch banker Bob Wigley had decided to support the campaign, along with [...]
Merlin’s magical results mean IPO could happen March 9, 2010 Merlin Entertainments is ready to make a sensational U-turn and resurrect its shelved flotation plans. The change of heart follows the release of tub thumping results by the London Eye owner, with Ebitda shooting up 16.6 per cent last year to £238.6m. Merlin’s revenue for 2009 rose 16.1 per cent to £769m, translating to 9.4 [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 28, 2010 THE SUNDAYS The Sunday Telegraph OCADO TO HIT PROFIT IN TWO YEARS Ocado’s imminent plans for a £1bn stock market flotation have been given a boost after a detailed research note from an expert retail analyst firm said that the online retailer would be making pre-tax profits within “a two-year time frame”. The note said [...]
New Ocado FD indicates an IPO September 15, 2009 Online retailer Ocado is today set to announce a seasoned investment banker as its new finance director, suggesting that the group is heading for an initial public offering (IPO) soon. Andrew Bracey will replace Jason Gissing, an ex-Goldman Sachs banker who once said he’d rather shoot himself than be finance director at a listed company.
New Look postpones IPO February 12, 2010 HIGH Street fashion retailer New Look has shelved its planned initial public offering (IPO) making it the third private equity-backed firm in as many days to abandon a flotation in turbulent financial markets. The decision to pull back from £1.6bn offering will cast a shadow over other IPO hopefuls, like travel firm Amadeus and online [...]