FTSE 100 flat as market sentiment wanes November 12, 2012 The leading share index was flat in early trading, as market sentiment remained cautious as uncertainty over Greek aid talks and the US fiscal policy outlook was compounded by weak GDP data from Japan. Miners led the blue chip fallers in early deals. On the FTSE All-Share, energy support services firm Cape was down 35.12 [...]
Heritage to sell remaining interest in Kurdistan to Genel November 12, 2012 Heritage Oil said this morning it planned to sell its remaining 49 per cent interest in a field in Kurdistan to Genel Energy to repay a $294m (£185m) loan. Heritage will sell its stake in the Miran gas field in a deal that will see it exiting Kurdistan and focusing on a new project in [...]
BBC’s senior news executives step aside November 12, 2012 Two senior BBC news executives stepped aside this morning, just a day after the chairman said the broadcaster needed a radical overhaul. Director of BBC News Helen Boaden and her deputy Steve Mitchell stepped aside, following director-general George Entwistle’s resignation on Saturday to take the blame for airing false child sex abuse allegations against a [...]
Housebuilders report steady trading November 12, 2012 Housebuilders Taylor Wimpey, Redrow and Bovis Homes this morning said trading remained steady, despite challenging market conditions in the UK. Taylor Wimpey said sales in the second half of this year were similar to the same period in 2011. The housebuilder added that it welcomed the government’s NewBuy scheme, and that it had generated “strong [...]
Japan economy declines by annualised 3.5 per cent November 12, 2012 Japan’s economy shrank by 3.5 per cent year on year over the three months to September, official data showed this morning. Japanese GDP fell by 0.9 per cent over the three months, and was in line with expectations. While US growth showed a modest uptick in the third quarter, Japan and the Eurozone economies are [...]
London & Stamford makes offer for Metric November 9, 2012 Property investment company London & Stamford today made a £209m takeover offer for developer Metric Property Investments, three days after announcing they were in advanced discussions to merge their businesses. London & Stamford is offering 0.94 of its shares for every Metric share. Under the terms of the merger, Metric would own 25 per cent [...]
Indonesian Bumi Resources begins second probe November 9, 2012 Indonesian coal miner PT Bumi Resources said today it will submit a second independent investigation on its accounts. It follows London-listed Bumi’s investigation into alleged financial irregularities at Indonesian arm Bumi Resources. The probe, led by City law firm Macfarlanes, is expected to conclude this month. Bumi, co-founded by financier Nat Rothschild, owns 29 per [...]
Trade deficit beats forecasts in September November 9, 2012 Britain’s trade deficit narrowed more than expected to £2.7bn in September, compared with a deficit of £4.3bn in August. Britain’s economy bounced out of recession in the third quarter, growing by one per cent, but weak economic data since then had made some analysts concerned that this growth figure could be revised lower. Official figures [...]
Diageo buys stake in United Spirits November 9, 2012 Diageo announced today it would acquire a 53.4 per cent share of Indian United Spirits for around $2.1bn (£1.32bn). The purchase, which concludes an on-again, off-again courtship that began in 2008, would be the biggest inbound Indian M&A deal since British oil firm Cairn Energy sold a majority stake in its Indian business to Vedanta [...]
FTSE 100 down as investor sentiment drops November 9, 2012 The leading share index was down this morning, consolidating overnight losses in Asia and the US. Miners led the fallers in early trading, with Eurasian Natural Resources, Kazakhmys and Anglo American among the blue chips feeling the heat. On the FTSE All-Share, Finnish miner Talvivaara slid more than nine per cent in early deals. Yesterday [...]
