Warburg Pincus plants flag in ETF industry after buying stake from investment banks January 20, 2014 US PRIVATE equity giant Warburg Pincus made its first foray into the increasingly competitive world of exchange traded funds (ETF) yesterday by taking a majority stake in fund provider Source. The buyout house, which also owns half of Santander Asset Management, has bought a 51 per cent stake in the ETF business from its five [...]
Amazon extends Sunday delivery to six more cities January 20, 2014 AMAZON will extend the Sunday delivery service that it trialled in London during December to six additional cities around the UK. Customers in Birmingham, Milton Keynes, Oxford, Nottingham, Manchester and Leeds will now be able to order items for delivery on any day of the week as part of Amazon’s Sunday delivery service. Sunday deliveries [...]
Blinkx founder joins Balderton Capital to lead startup funding January 20, 2014 BLINKX founder Suranga Chandratillake is set to return to London to take up his new role as a partner at the venture investor firm Balderton Capital. Chandratillake will retain his role as strategy chief at Blinkx after he relocates from California to the UK for his new role, in which he will focus on investing [...]
Shell kicks off its turnaround with asset sale January 20, 2014 ROYAL Dutch Shell yesterday said it has agreed to sell its stakes in a gas project in Western Australia, as it looks to streamline its portfolio in the wake of Friday’s profit warning. The FTSE 100-listed oil major is selling minority stakes in two related gas projects to the Kuwait Foreign Petroleum Exploration Company (KUFPEC) [...]
UK’s energy industry says shale gas will need 10 years to take off January 20, 2014 THE MAJORITY of the UK’s oil and gas industry think it will be at least 10 years before shale gas becomes a significant part of the domestic energy mix, according to a new survey by law firm Pinsent Masons. Sixteen of the 100 industry players questioned think it will be a successful extraction method within [...]
Gulf Finance House to sell 75 per cent of its stake in Leeds United January 20, 2014 BAHRAIN-BASED investment firm Gulf Finance House (GFH) said yesterday it was offloading 75 per cent of English football club Leeds United to a consortium of British investors and would retain a 10 per cent stake following the sale. GFH, which bought the second-tier club in 2012, said last week that it had agreed a partial [...]
KPMG takes stake in smartphone app maker in technology push January 20, 2014 KPMG began its push into the technology business yesterday by taking a minority stake in Chelsea Apps Factory. The accountancy firm hopes to sign four or five more firms this year to its Digital Innovation Network, eventually bringing in 20 to 30. Fast-growing firms in cloud computing, social networking and data analytics will benefit from [...]
Asia Resource Minerals extends deadline for split from Bakries January 20, 2014 ASIA Resource Minerals, the Indonesia-focused miner formerly known as Bumi, yesterday said that the deadline for its separation from Indonesia’s Bakrie Group has been delayed for another four weeks, until 21 February. The FTSE 250-listed company has been dogged by allegations of corruption, creating an arduous dispute between its co-founders, financier Nat Rothschild and the Bakrie [...]
Analyst Views: What did you make of the sale in the context of friday’s profit warning? January 20, 2014 CHRISTINE TISCARENO | STANDARD & POOR’SThis is a small sale for Shell but they are under shareholder pressure to streamline their portfolio. They have to be more picky now. We saw the profit warning coming from mid-2013 due to problems in Nigeria. I think 2014 will be an annus horribilis for Shell, but things should improve [...]
Strong quarter for Shanta Gold January 20, 2014 East Africa-focused miner Shanta Gold yesterday unveiled a strong fourth quarter, with gold production up 3.6 per cent. The Aim-listed company said that full-year production in 2013 marginally beat guidance at 64,054 ounces, compared to 63,000 ounces. “We are confident in our ability to achieve full-year 2014 production guidance of 80,000 ounces,” said chief executive [...]
