German workers hit the streets to protest restructuring at EADS November 28, 2013 MORE than 20,000 workers from European aerospace group EADS took to the streets in Germany yesterday to protest against restructuring plans they fear could cost thousands of jobs. Protests were held at about 30 sites, from the company’s Airbus factories near Hamburg in the north to its Eurofighter jet assembly plant in Bavaria’s Manching in [...]
Petrochina buys 25 per cent of Exxon’s interests in Iraq field November 28, 2013 PETROCHINA has bought a 25 per cent stake in the West Qurna-1 oilfield project from Exxon Mobil, strengthening China’s hold on Iraq’s energy resources. China is already the top foreign player in Iraq’s oilfields, which are the largest in the Middle East open to foreign investment. Iraq said in August that Exxon Mobil was selling [...]
India to investigate Ericsson patents November 28, 2013 India’s Competition Commission (CCI) is to investigate Swedish telecoms equipment maker Ericsson in regard to a dispute over charges levied on India’s Micromax for the use of Ericsson’s patents. Ericsson had sued Micromax in March for patent infringement and the Indian firm responded by filing a complaint to the CCI, Ericsson said. “The CCI has [...]
Spanish law could allow fracking November 28, 2013 Spain’s parliament passed an environmental impact law yesterday that could open the door to hydraulic fracturing or fracking, a method that has not been used up to now in the country. The government said it would evaluate hydraulic fracturing, the first mention in a Spanish law of the technology, which has been banned in France [...]
Dutch watchdog turns on Google November 28, 2013 Google’s practice of combining personal data from its many different online services violates Dutch data protection law, the country’s privacy watchdog said yesterday after a seven-month investigation. The Dutch Data Protection Authority asked Google to attend a meeting to discuss its concerns after which it would decide whether to take any action against the cloud [...]
City Moves for 29 November 2013 | Who’s switching jobs November 28, 2013 Colliers International The commercial real estate services firm has appointed John Knowles as a partner in its national investment team. He was most recently head of capital markets at Lambert Smith Hampton, and has also held senior positions at DTZ and Jones Lang LaSalle. BNP Paribas Corporate and Investment Banking BNP Paribas has announced the [...]
Best of the Brokers for 29 November 2013 November 28, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com BETFAIR Betfair’s odds are looking good according to Numis analysts’ report ahead of interim results next week. The broker has a buy rating and 1,200p target price, and believes Betfair will give hints about where its strategy is heading, along with a four [...]
London Report: Rio Tinto holds up FTSE despite housing drop November 28, 2013 HeAVYWEIGHT miner Rio Tinto helped keep the FTSE 100 in positive territory yesterday, offsetting weakness in housebuilders after the Bank of England removed a mortgage support scheme. Rio Tinto enjoyed hefty gains in an otherwise subdued session – adding six points on its own to the FTSE 100 – as investors responded bullishly to the [...]
Europe Report: Europe gains as US shuts for Thanksgiving November 28, 2013 EUROPEAN stocks gained ground yesterday in light trade, with Italian shares outperforming after the country’s Senate expelled former Prime Minister Silvio Berlusconi, fuelling hopes of stability for the current government. The FTSEurofirst 300 index of top European shares gained 0.4 per cent at 1,305.02 points, hitting its highest closing level since 2008. Volumes were thin, [...]
Our innovative Heathrow plan could expand capacity without huge costs November 28, 2013 IN JUST three weeks, Sir Howard Davies and the Airports Commission will publish a shortlist of ideas to solve a problem critical to Britain’s future success – how to enhance our airport capacity. We hope that our innovative Heathrow Hub concept – which is unconnected to any proposals from the current airport owners – will [...]
