HR Owen to leave London market February 19, 2014 HR Owen will be walked off the London stock market in April as its free float now totals just over two per cent, falling far short of the 25 per cent listing requirement, the firm said yesterday. The car dealership, which is 72-per-cent owned by Berjaya Philippines following a takeover bid last year, also counts [...]
Asia Resource split delayed again February 19, 2014 Asia Resource Minerals, the miner formerly known as Bumi, yesterday said that it has been informed by co-founders the Bakrie Group that it has raised $163m (£97.5m) rather than the $228m required to separate the company. Following a request from the Bakries, the firm has agreed to extend the separation deadline to 26 February, the [...]
StanChart to sell consumer unit February 19, 2014 Standard Chartered has put its Hong Kong consumer finance arm up for sale as it continues to cut back operations which are sub-scale or not a core focus. Although Hong Kong itself is a core market the PrimeCredit business is too small to generate sufficient returns. A spokesperson for the bank declined to comment. But [...]
BAE secures a deal with Saudi Arabia over jets February 19, 2014 DEFENCE gaint BAE Systems yesterday said it had agreed pricing with Saudi Arabia on a long-awaited jets deal. FTSE 100-listed BAE Systems said that the UK and Saudi governments have now agreed price escalation terms relating to the Typhoon aircraft under the so-called Salam deal and that the terms of the agreement are broadly consistent [...]
London Array blames EU rules on birds as it calls off expansion February 19, 2014 THE CONSORTIUM behind London Array, the world’s largest offshore wind farm, has axed plans to expand the project due to migrating birds causing delays. Dong Energy, E.On and Abu Dhabi’s Masdar, which own the London Array project, have decided not to proceed with phase two of the plan after reviewing the “technical challenges and environmental [...]
Green levies hit Scottish Power margin in 2013 February 19, 2014 SCOTTISH Power’s generation and supply business saw its profit margin decline by 3.5 per cent in 2013, the energy firm’s parent company Iberdrola said yesterday. The Spanish firm said that the decreased margin was due to increased energy costs from the UK government’s green levies and lower coal-fired generation. Scottish Power, like the rest of [...]
Profits at Sports Direct in shape February 19, 2014 SPORTS Direct posted a strong rise in profits over the Christmas quarter yesterday but stayed silent on talks with Debenhams after buying an option in the retailer last month that could see it eventually own a 6.6 per cent stake. The sports chain controlled by billionaire Mike Ashley said it had “no further comment” on [...]
Analyst Views: What was your reaction to Sports Direct’s interim statement? February 19, 2014 SANJAY VIDYARTHI | LIBERUMAs flagged at the interims in December, Sports Direct has reported a slowdown in third quarter sports retail sales, but this has come with strong gross margin expansion, which is key… We think this is a decent performance and we maintain our view that it is well positioned to drive long term [...]
Npower agrees to refund credit February 19, 2014 NPOWER yesterday bowed to government pressure and joined some of its big six peers in agreeing to give automatic refunds to direct debit customers whose accounts are in credit. The energy company said it would move to automatic refunding of credit balances over £5 on direct debit accounts at customers’ annual reviews. “We are happy [...]
M&S launches in The Hague February 19, 2014 MARKS & Spencer will open a flagship store in The Hague today after returning to the Netherlands last year for the first time in more than a decade. The retailer’s Dutch chief executive Marc Bolland said the 4,800 square metre store in the city centre will be its biggest on the continent so far, selling [...]
