Energy firms take a battering September 20, 2010 A SPATE of Aim-listed oil and chemical stocks fell yesterday, as poor results and disappointing discoveries spooked investors. Sterling Energy said its wells in Kurdistan had produced less gas than expected, sending its shares on the Aim market down 39 per cent to 78.5p. Its two Sangaw wells had initially produced 4m cubit feet of [...]
City seeks business-savvy accountants September 20, 2010 FINANCE professionals working in large companies need to have commercial skills in order to succeed, new research by recruiters Robert Half revealed yesterday. Up to 90 per cent of business and finance leaders in London agree that strong commercial skills are needed to ensure the long-term success of finance teams and their business as a [...]
HSBC sells its distribution arm September 20, 2010 HSBC has sold its Asian banknote distribution business for $15m (£9.6m) to United Overseas Bank. The banking group has closed the remaining 60 per cent of its global distribution branch. HSBC said in June it would dispose of the arm as a non-core operation. Its role as a banknote producer in Hong Kong will be [...]
Amadeus will offload Opodo September 20, 2010 SPANISH travel services group Amadeus is said to be seeking a buyer for its European online travel agent Opodo. JPMorgan has been hired as an adviser and a deal could be announced before the end of the year. Amadeus, the travel-reservations technology company, has controlled Opodo since 2004 but does not view the holding as [...]
BEST OF THE BROKERS September 20, 2010 CARPHONE WAREHOUSE Morgan Stanley has raised its Carphone Warehouse target from 220p to 275p and issues an “overweight” rating for the retailer. The broker believes consensus forecasts for Carphone Warehouse do not factor in the impact that high-selling-price smartphones will have on like-for-like sales over the next 12 months. ROYAL BANK OF SCOTLAND JP Morgan [...]
CITY BOSS FINDS SLICE OF ARCTIC HISTORY September 20, 2010 REGULAR readers will remember Tim Levy, the bold chief executive of alternative investment firm Future Capital Partners, who last month set off on a gruelling expedition to the Arctic with one of his best mates, hare-brained TV adventurer Bear Grylls. Levy and Grylls – famed for his creepy crawly-eating escapades on Channel 4’s Born Survivor [...]
UK banks might look cheap, but pick carefully September 20, 2010 UK BANKING stocks rallied last week after the announcement of the Basel III banking reforms. But although the sector has avoided further bank-bashing, much of the detail has yet to emerge and a jumpy market should make for fruitful autumn trading. New capital ratio requirements made most of the Basel III headlines, with Tier 1 [...]
THE TIPSTER September 20, 2010 BP’S NEWS that the Macondo well in the Gulf of Mexico has finally been completely capped came as welcome news. The stock has responded well, rising over 1 per cent in early trade yesterday. This could be an opportunity for the oil giant to draw a line under the catastrophe and hopefully regain some of [...]
Battling Jesus and Poker Gods in WC2 September 20, 2010 RAISE 2,000,” I say, and toss my chips on to the table. My face is carved from granite, but my heart thumps so loudly it could start its own drum ‘n’ bass label. In any big poker tournament there’s always one Table of Death, the one table where all the top pros happen to be [...]
NYC chic at the Wharf September 20, 2010 Tompkins 3 Pan Peninsula Square E14 9HN 020 8305 3080, www.tompkins.uk.com FOOD SERVICE ATMOSPHERE Cost per person without wine: £30 THE day we went to Tompkins, on the ground floor of Docklands’ largest residential tower Pan Peninsula, it was grey and chilly. This was a shame, since there is an impressive riverside terrace where suits [...]
