BP survey: Oil and gas industry is struggling to attract women December 10, 2013 OIL AND gas remains male dominated even though gender diversity and womens’ career prospects have improved, according to a survey yesterday in which almost a quarter of respondents said the industry was doing a poor job achieving a diverse workforce. Oil and gas executives have long said that attracting skills and talent to a sector that [...]
Fresnillo slashes gold guidance December 10, 2013 Mexico-focused miner Fresnillo yesterday reduced its full-year gold guidance by 8.4 per cent, down to 425,900 ounces. Silver production remains unchanged at 41m ounces. The FTSE 100-quoted firm reiterated its belief that there is no reason why a temporary explosives ban for two of its mines, Herradura and Soledad, should not be lifted. Fresnillo is [...]
BG Group lifts resource estimate December 10, 2013 FTSE 100-listed oil and gas explorer BG Group yesterday increased its estimate of recoverable resources at blocks located off southern Tanzania, after concluding a successful drilling and testing campaign. “The aim of our appraisal programme now is to optimise the future development plan and place the most economic gas into the proposed project first to [...]
Clarification December 10, 2013 Further to yesterday’s article The Truth Behind Peacocks’ Demise (p23), we would like to clarify that Lawrence Tomlinson’s report into RBS lending practices did not use the administrations of Peacock or the other companies mentioned as part of its evidence base, nor were they specifically referred to in the Tomlinson report itself. They were some [...]
City Moves for 11 December 2013 | Who’s switching jobs December 10, 2013 Colliers International The real estate services firm has recruited Andrew MacKenzie as a consultant in its retail team. He was most recently chief executive of Jaeger. MacKenzie has previously held senior director positions at Allders, First Restaurant Group and Matisse Holdings. Towry The wealth management firm has hired Mehdi Douali as an analyst in its [...]
Best of the Brokers for 11 December 2013 December 10, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com GREAT PORTLAND ESTATES Beaufort Securities is impressed by the company’s decision to offload 20 St James’s Street for £54.5m – yet, “given the resilient demand scenario and slow growth in rental value”, maintains its hold rating on the stock with a target price [...]
London Report: FTSE investors rattled by Fed tapering fears December 10, 2013 THE UK’S main share index fell in thin, choppy trade yesterday, led by a late selloff in travel operator Tui Travel and hit by concerns about a reduction of US monetary stimulus. The FTSE 100 turned lower in late trade as US stocks retreated from recent highs, showing investors’ reluctance to put money back into [...]
New York Report: Shares slip on market jitters over stimulus December 10, 2013 US STOCKS slipped yesterday, a day after a record close on the S&P 500, with traders looking ahead to next week’s Federal Reserve meeting in the absence of market-moving economic data. Healthcare stocks were among the most active after company news while utilities was the worst performer of the 10 industry groups on the S&P [...]
The Woodford effect: How to get active value December 10, 2013 But investing in a cheaper passive vehicle may make more sense in more efficient markets CLOSE to £2bn has been withdrawn from Neil Woodford’s flagship funds, Invesco Perpetual High Income and Invesco Perpetual Income, in the two months since the fund manager announced that he will step down in April 2014. Despite experts advising against [...]
The star fund managers on the move December 10, 2013 IT’S BEEN a turbulent year at the top of the fund management industry. In addition to the departure of Neil Woodford from Invesco Perpetual next April, flagship funds at Fidelity, Schroders, Jupiter and M&G have all seen changes of personnel. In Schroders’s case, the departure of Richard Buxton in March led to a reported £1.5bn [...]
