Shire share price falls as AbbVie confirms acquisition is off the table October 16, 2014 Drug-maker Shire saw its share price tumble by a further 10 per cent yesterday, after US company AbbVie confirmed that it had abandoned plans for a $54bn (£32m) acquisition of the firm. Earlier this week, Shire said that it would be owed “a break fee of approximately $1.64bn” if AbbVie shareholders voted against the offer. [...]
BHP Billiton share price up as miner confirms new metals firm will list in London October 16, 2014 BHP Billiton’s shares yesterday dipped briefly by almost two per cent, but finished up 0.12 per cent, after confirming that its new company would be listed on the London Stock Exchange. Andrew Mackenzie, BHP’s chief executive, said: “We are pleased to offer an additional listing in London in response to the interest investors have shown [...]
Google share price down: Results fail to impress despite 20pc hike in revenue October 16, 2014 Google’s quarterly results have failed to meet Wall Street expectations, despite revenue growing by 20 per cent to $16.5bn (£10.3m) in the three months to 30 September, compared with $13.8bn posted last year. Analysts polled by Thomson Reuters said they were looking for revenue of $16.6bn in the third quarter. Meanwhile, expenses were up to [...]
New BG Group boss Helge Lund may earn up to £14m a year October 15, 2014 BG Group’s new chief executive Helge Lund has been offered a “competitive” pay package which could see him earn up to £14m on an annual basis. Lund, who is currently chief executive at Norwegian company Statoil, has been allocated a £1.5m base salary, fixed for the first five years of employment, a 30 per cent [...]
Balfour Beatty’s new chief Leo Quinn is ready to turn the business around October 15, 2014 Balfour Beatty’s newly appointed chief executive Leo Quinn yesterday promised to put a stop to “surprises” at the troubled construction firm. “It’s a company of £10m turnover, with 40,000 employees worldwide, and its returns are far too low,” he told City A.M.. “The continuing surprises that it’s had should not be happening in a [...]
Oil prices slide to four-year low as Opec digs in October 14, 2014 Brent crude slid below $85 yesterday, marking a four-year low for the commodity, after the International Energy Agency (IEA) predicted that oil demand would expand slower this year than it had since 2009. In its oil market report for October, the stated that the Organisation of the Petroleum Exporting Countries’ (Opec) crude oil output [...]
Afren share price rises after firing CEO Osman Shahenshah and COO Shahid Ullah October 14, 2014 Afren's share price climbed by over 3.5 per cent yesterday after the oil company announced that its chief executive and chief operating officer (COO) had been sacked for gross misconduct following an independent review. The company had suffered a 30 per cent share slump when it suspended CEO Osman Shahenshah and COO Shahid Ullah [...]
Dragon Oil reports production growth and Algeria bid success October 14, 2014 Dragon Oil confirmed yesterday in its interim management statement that it was still in detailed discussions concerning a bid for Irish company Petroceltic. According to the company’s report for the third quarter of 2014, it completed six new wells during the period, and increased production by 9.6 per cent compared with the level in the [...]
Statoil sells Shah Deniz stake to Malaysian firm Petronas in $2bn deal October 13, 2014 STATOIL has exited the Shah Deniz oilfield in Azerbaijan, selling its 15.5 per cent stake to Malaysian oil and gas company Petronas for $2.25bn (£1.4bn). Norwegian firm Statoil’s withdrawal from Shah Deniz, which is operated by BP, comes into effect from 1 January 2014 for accounting purposes, although the deal is expected to complete in [...]
Shares down at industrials after Investec downgrades 15 firms October 13, 2014 INVESTEC sent share prices tumbling yesterday after it downgraded several UK industrials companies yesterday, blaming the deteriorating economic environment in Europe. The bank said that in light of recent profit warnings in the industrials sector, it had identified vulnerable companies, downgrading 15 of the most affected. Investec said it had focused on those with “significant [...]
