Tullow climbs on new Kenyan oil discoveries January 15, 2014 FTSE 100-quoted Tullow Oil’s share price edged up yesterday, after mixed updates unveiled new discoveries in Kenya alongside mammoth exploration write-offs that startled analysts. The oil explorer said it made “significant oil discoveries” at the Amosing and Ewoi wells in Kenya and updated its estimate of discovered resources in the basin to over 600m barrels [...]
Analyst Views: What did you make of Tullow Oil’s mixed bag of corporate updates? January 15, 2014 BRENDA KELLY | IG There has been a major pullback with Tullow over the past couple of years, so yesterday’s rise in share price came off quite a low base. The new discoveries are positive for the company but lower oil prices continue to weigh down on the stock. 2014 production guidance was a bit [...]
Fenner warns sterling gains and order delays will hurt revenues January 15, 2014 CONVEYOR belt manufacturer Fenner yesterday said that a combination of increasing sterling strength and a delay in orders could dampen revenues for the six months to January. The FTSE 250 firm said in a trading update that full-year figures will be in line with forecasts excluding currency movements, but that the pound’s movement against the [...]
Ofwat opens up consultation period on new project plans January 15, 2014 WATER regulator Ofwat yesterday published its draft forward work programme for 2014-15, inviting responses before the consultation period ends on 11 February. The document outlines the regulator’s core projects planned until 2016. It will use the responses it receives during the consultation period to finalise its plans for the year ahead and will publish a [...]
South African mining union threatens strike January 15, 2014 SOUTH Africa’s Association of Mineworkers and Construction Union (AMCU) threatened fresh strike action yesterday, saying it would not hesitate if its members voted in favour of a walk-out. AMCU members have already voted in favour of a stoppage at Impala Platinum over wages and the union will canvas its rank and file this week at [...]
Genel’s shares slide as trading update misses analyst forecasts January 15, 2014 NAT ROTHSCHILD and Tony Hayward’s bumper bonus payout slipped further out of reach yesterday, after Genel Energy’s trading update caused shares to slide over four per cent. The billionaire financier, former BP chief and other founders of the Kurdistan-focused oil explorer will receive around £100m in total, if shares close higher than £12.50 for 20 [...]
Infrastructure investment firm John Laing hires new chief exec January 15, 2014 JOHN Laing, the infrastructure investor and asset manager, yesterday said it has hired Olivier Brousse as its new chief executive, effective from 1 March. Brousse, who joins from environmental services management firm Saur Group, replaces Adrian Ewer, who told the board last year that he planned to step down. Prior to Saur, Brousse was deputy [...]
Sandell pushes again for First to sell US units January 15, 2014 FIRSTGROUP came under fresh pressure to sell its US businesses yesterday, as activist hedge fund Sandell set out details of its preferred shake-up plan. Sandell produced a “white paper” urging First to dispose of its American student transit unit, with First’s own investors highlighted as potential new owners, before getting rid of coach operator Greyhound. [...]
Late dash for online gifts over Christmas gives UK Mail a boost January 15, 2014 LAST-MINUTE online shopping over Christmas helped boost revenues at delivery company UK Mail, the firm said yesterday. Parcel volumes were up 15 per cent in the final three months of the year, and mail volumes also rose from last year’s levels. “It is clear from weekly volume patterns that shoppers were, more than ever before, [...]
Provident Financial’s credit cards gain popularity while loans slide January 15, 2014 SUB-PRIME lender Provident Financial Group saw its credit card customers increase by more than one-fifth last year, though the group’s home credit division lost clients. The FTSE 250-listed company reported a 22.2 per cent rise in customers for its Vanquis Bank credit card in 2013, ending the year with 1.1m UK customers. However, Provident’s consumer [...]
