Intertek share price up as Andre Lacroix takes reins September 30, 2014 Intertek, the London-based inspection and certification firm, saw its share price jump by more than two per cent yesterday following the appointment of Inchcape’s Andre Lacroix as chief executive. Meanwhile, Inchcape’s share price plummeted by almost five per cent. Lacroix will take up his new role and join the Intertek board in May 2015. He [...]
African Minerals turns to banks in face of weak iron ore market September 30, 2014 African Minerals has brought in Standard Chartered to look at the possibility of refinancing the debt structure of its Tonkolili iron ore project in the face of a “depressed iron ore environment”. Executive chairman Frank Timis said the business had been “slow to react” to market circumstances and warned that if the business did not [...]
Melrose-owned Elster Gas pays $158m for US company Eclipse September 30, 2014 BRITISH investment company Melrose Industries has bulked up its portfolio with Elster Gas’ purchase of US manufacturer Eclipse for $158m (£97m). Eclipse recorded sales of $126m for the year ended March 31, and Elster said the company’s “long established expertise in low-temperature industrial gas combustion complements [its] expertise in high-temperature industrial gas combustion applicatioens in [...]
SSE warns of challenging energy sector and operating retail losses September 29, 2014 SSE will report around £700m of investment in its energy assets during the six months to September 2014 when it publishes its half-year results in November. The energy firm also expects to report an operating loss in its retail segment, and an increased operating profit in its networks segment. Its wholesale segment is expected to [...]
BP and Shell still contenders for major oil deals in Persian Gulf September 29, 2014 BP and Shell have confirmed that they are both in the running to renew contracts for major oil deals in the Persian Gulf. Both companies have been operating in the region for decades in connection with the Abu Dhabi Company for Onshore Oil Operations (ADNOC). However their 75-year old onshore oil field concession agreements expired [...]
BAE faces US trade disruption September 29, 2014 BAE Systems has warned that trading disruption is likely in the last quarter of 2014, because of government spending limits. A financial resolution will keep the federal government running at fiscal year 2014 spending levels. However the British defence company said its outlook remains unchanged.
