Fed’s Evans says decision on taper will be tough at December meeting October 21, 2013 IT WILL be “tough” for the Federal Reserve to have sufficient confidence in the strength of the US recovery by its meeting in December to start scaling back its massive bond-buying campaign, one of its senior officials said yesterday. “October is a tough one. December? I think we need a couple of good labour reports and [...]
Twitter triples in value during grey market trading October 21, 2013 TWITTER has trebled in value on grey market trading in the firm ahead of its expected market debut in November. The company has hit market valuations of up to $29bn (£17.9bn) based on trading taking place on city firm IG Index’s market. IG has previously offered grey markets – the price companies are unofficially valued [...]
Boost for plane-makers with sales of business jets expected to lift off October 21, 2013 SALES of business jets are expected reach $18.4bn this year, up about eight per cent from last year, according to a forecast by Honeywell Aerospace. The figures were seen as a sign of further economic strengthening despite some pockets of weakness notably in Asia. The forecast expects continued recovery from the economic low of 2009, and [...]
WPP brings General Electric Exec on board October 21, 2013 ADVERTISING giant WPP has appointed a former General Electric information chief to its board. Charlene Begley is one of the rising stars of General Electric, taking on an additional role as head of the company’s $8bn home and business unit in 2010.
BHP exits Indian assets following regulatory delay October 21, 2013 FTSE 100-listed miner BHP Billiton yesterday said it has pulled out of some of its oil and gas interests in India, following a portfolio review and due to an inability to carry out exploration operations there. The Anglo-Australian firm did not clarify its decision to withdraw from nine oil and gas exploration blocks, but local [...]
Oil refiner Hydrodec raises £20m October 21, 2013 Aim-listed oil refining business Hydrodec, which is chaired by former energy minister and ex-British Olympic Association chairman Lord Moynihan, yesterday said it has raised £20m through placing shares at 0.5p each to finance further expansion and repay all long-term debt. Hydrodec is in “advanced discussions” in the UK and Australia with potential partners to expand [...]
Shanta Gold output rises 31 per cent October 21, 2013 East Africa-focused miner Shanta Gold yesterday unveiled a 31 per cent increase in gold production in the third quarter compared to the second quarter and said it is on track to deliver its full-year output target. The Aim-listed company also said that its New Luika gold mine is operating well and it is considering extending [...]
Centamin reduces stake in Nyota October 21, 2013 FTSE 250 Egypt-focused miner Centamin, which is Nyota Minerals’ largest shareholder, has sold 20m shares in the Aim-listed miner. The disposal reduces Centamin’s stake to 151m shares, representing 17.2 per cent of Nyota. Development of Nyota’s key asset has been slow to get off the ground and last month, Centamin called for chief executive Richard [...]
Float of Tinkov credit firm to raise $1.1bn October 21, 2013 RUSSIAN entrepreneur Oleg Tinkov’s consumer credit provider TCS is aiming to raise around $1.1bn (£680m) in its forthcoming London flotation – higher than the $870m previously expected, a financial market source said yesterday. TCS Holding Group, owner of Tinkoff Credit Systems, has rivalled state-controlled banks and grabbed market share in the high-margin business of consumer [...]
Equistone fancies French pudding maker October 21, 2013 EQUISTONE, the private equity house founded by ex-Barclays buyout executives, has taken a bite out of a French luxury pudding maker that supplies tasty treats to M&S and McDonalds. The outfit, led by managing partner Guillaume Jacqueau, has bought a majority stake in French dessert conglomerate Europeenne des Desserts (EDD) for an undisclosed sum. The [...]
