Five weeks for Hoare Govett to learn its fate January 16, 2012 HOARE Govett, the stockbroker being sold by the beleaguered RBS bank, has already lost two blue chip clients in GlaxoSmithKline and Amlin as clients fret over its fate, so it is comforting to learn that it might know its new home in around five weeks time. Of course, in an ideal world, its future would [...]
Camco sells UK advisory business January 16, 2012 British low-carbon project developer Camco said yesterday it will sell its UK advisory business to Baxi Partnership for £4.5m, a move analysts say will help it raise cash in the face of record-low carbon prices. The company will continue its advisory business in Africa and provide some other advisory services outside the UK. Camco Advisory [...]
Kenya rubber stamps Ophir deal January 16, 2012 The energy minister for Kenya has approved London-listed Ophir Energy’s acquisition of oil firm Dominion Petroleum, whose operations are focused in East Africa. The takeover was announced in October last year when Ophir agreed to acquire Dominion for £118.2m, a 64 per cent premium to Dominion’s share price on London’s Alternative Investment Market.
Huntsman to back Romney January 16, 2012 REPUBLICAN candidate Jon Huntsman yesterday stepped out of the US presidential race, admitting his short six-month candidacy had been “the longest of long shots” and pronouncing his support for favourite-to-win Mitt Romney. Huntsman (pictured) condemned the election’s degeneration into “an onslaught of negative and personal attacks” and said he would rally with Romney “despite our [...]
Hammerson tower faces delays after first tenant cancels lease January 16, 2012 HAMMERSON’S latest office tower has suffered a major setback after law firm CMS Cameron McKenna pulled out of its pre-let agreement for a third of the building. The start of construction on the £485m Principal Place scheme in Shoreditch could now be put back after CMS Cameron McKenna blamed “uncertainties in financial markets” for the [...]
IT’S AS EASY AS ABC WITH LOVEFILM January 16, 2012 VIDEO-ON-DEMAND service Lovefilm will bring a range programmes from American airwaves to British shores, including Desperate Housewives, Grey’s Anatomy and all six seasons of desert island drama Lost. The partnership between Amazon’s streaming service and Disney UK grants Lovefilm subscribers access to ABC Studio’s online library.
FinnCap snaps up staff from rivals January 16, 2012 FinnCap has taken on three new workers, making the most of rivals merging or closing desks. The small-cap broker and adviser has hired Evolution Securities alumnus Stuart Andrews as corporate finance director, while Melvyn Brown is joining the firm’s sales trading team from Altium. Simon Johnson joins the corporate broking team from RBC. Chief executive [...]
Hedge funds bet on slower China January 16, 2012 European hedge fund managers are betting that China’s once red hot economic growth will cool dramatically in 2012, hitting companies, economies and commodity prices that have been fuelled by the world’s second largest economy in recent years. Managers are taking bets ranging from short positions on equity markets or the currency to buying credit protection [...]
Inmarsat partner’s plan hits wall January 16, 2012 Shares in satellite firm Inmarsat closed more than five per cent lower yesterday as its partner LightSquared’s plans for a wireless network hit a roadblock. A key federal agency in the US said the wireless service run by LightSquared would cause harmful interference to many GPS receivers. The firm fell as low as 366p during [...]
Stamp specialist gets a boost January 16, 2012 Stanley Gibbons, the UK stamp collecting specialist, said it expects its financial performance to be in line with market expectations after its trade was boosted by a new website and the opening of a Hong Kong office. Internet sales for the second half of the year to the end of December 2012 were up 67 [...]
