Boeing pens $4.6bn plane deal with Chinese airline Shandong April 22, 2014 BOEING has agreed to supply Chinese carrier Shandong Airlines with new planes. Shandong has bought 50 Boeing 737 planes, worth $4.6bn at list prices, as part of its plan to nearly double its overall fleet by 2020, according to China’s state news agency Xinhua. The airline is majority-owned by Air China, which also features the [...]
Dragon Oil ramps up production April 22, 2014 Aim-listed oil and gas explorer Dragon Oil yesterday said it expects the pace of drilling to pick up considerably, as it unveiled a 0.7 per cent rise in production in the first quarter. The company is looking to increase output by 10 per cent this year and between 10 and 15 per cent next year, [...]
Genel Energy on track for year April 22, 2014 Kurdistan-focused oil explorer Genel Energy, which has former BP boss Tony Hayward as its chief executive, yesterday said production jumped 35 per cent in the first quarter and that it remains on track to meet full-year production and revenue guidance of 60,000 to 70,000 barrels of oil per day and revenue of between $500m (£297m) [...]
Natlata may back Petroneft deal April 22, 2014 Shares in Aim-listed Russian oil explorer Petroneft surged yesterday, after its largest shareholder Natlata indicated that it may support a recently-agreed farm-out agreement with Oil India. “If the deal is as attractive as suggested, Natlata would consider supporting it,” it said. But Natlata added that further details were lacking on the deal and urged for more [...]
City Moves for 23 April 2014 | Who’s switching jobs April 22, 2014 HSBC Private Bank Oliver Gregson has been appointed head of private bank investment group, UK and Channel Islands, at HSBC Private Bank. He joins from Barclays Wealth, where he was head of discretionary portfolio management. Gregson has also held roles at UBS and Citi Private Bank. State Street Global Advisors The asset management firm has [...]
Best of the Brokers for 23 April 2014 April 22, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com ENERGY ASSETS Numis gives Energy Assets an “add” rating and target price of 380p after the firm’s acquisition of the electricity metering business BGlobal for £2.3m on a debt free basis. Numis says the deal “provides the opportunity to cross-sell electricity metering services [...]
London Report: Glaxo pharma deal puts FTSE market on high April 22, 2014 CORPORATE activity in the pharmaceutical sector yesterday pushed Britain’s benchmark stock index to a two-week high and to within sight of a peak for the year so far. Drugmaker AstraZeneca rose 4.7 per cent, with trading volumes in the stock more than three times its 90-day average, after the Sunday Times reported a £60bn approach [...]
New York Report: Good earnings and drug deals lift Wall Street April 22, 2014 US stocks rose yesterday as a host of solid earnings reports, along with strength in the healthcare sector, helped lift the S&P 500 and Nasdaq to their sixth straight advance. Netflix surged seven per cent a day after showing strong subscriber growth, a sign the trading favourite still had room to grow despite recent concerns [...]
Letters to the Editor – 23/04 – Labour’s spending, The West’s decline, Best of Twitter April 22, 2014 Labour’s spending [Re: The cost of living crisis isn’t over – but Ed Miliband still won’t solve it, yesterday] It is difficult to see how Labour intends to deal with high childcare costs, while also promising to raise the national minimum wage or introduce a (much higher) living wage. Unless the intention is just to [...]
A mean, green, plug-in machine April 22, 2014 The new Mitsubishi Outlander lasts and lasts – it might just be the SUV to clean up the City BATH is a beautiful spa town with World Heritage City status. But its traffic is terrible. If you thought the City was bad, try Bath at 8am on a weekday. It’s the perfect place to sit [...]
