Great Portland hires new broker October 3, 2013 West End-focused property developer Great Portland Estates announced yesterday it has hired Bank of America Merrill Lynch as joint corporate broker with immediate effect, working alongside the firm’s longstanding broker JP Morgan Cazenove. The company declined to comment further on the appointment.
Portugal judged to be on track October 3, 2013 Portugal’s international lenders approved the country’s performance under a bailout in their latest review yesterday, but rejected government requests to ease fiscal goals. The European Union and International Monetary Fund said Lisbon was moving to meet the lending programme’s goals and that there were early signs of recovery after the worst economic downturn since the [...]
Adobe Systems victim of cyber attack October 3, 2013 Adobe Systems said last night it was the victim of sophisticated cyber attacks on its networks by hackers who accessed data belonging to millions of customers along with the source code to some of its popular software titles. Chief security officer Brad Arkin said he believes the attackers accessed Adobe customer IDs and encrypted passwords [...]
BP rebounds as US court limits claims payouts October 3, 2013 FTSE 100-listed oil major BP’s shares got a boost yesterday, after a US court tightened the standards in assessing claims relating to the Gulf of Mexico oil spill. The appeals court in New Orleans ruled that a narrower injunction should be issued, to allow recoveries by claimants with “actual injury” from the spill, and not [...]
Crystal Palace set to sparkle again October 3, 2013 THE ORIGINAL Crystal Palace is set to be bought back to life in a £500m investment aimed at revitalising the area in south London as a major tourist attraction. Chinese developer ZhongRong group yesterday unveiled the ambitious plans which involve rebuilding the palace on the site of the original Victorian building, which burned down in [...]
Auction delay dulls Gemfields’ results but operations on track October 3, 2013 GEMFIELDS, the Aim-listed coloured gemstones miner, yesterday shrugged off full-year losses of $22.8m (£14.1m) and said it was on track with its plans to develop the business. The firm, which has actress Mila Kunis as its ambassador, fell into the red after making profits of $161.5m the previous year. Revenue went down to $48.4m from [...]
Carillion downsizes energy unit due to low Green Deal uptake October 3, 2013 FTSE 250-listed support services and construction firm Carillion yesterday said that it would be downscaling its energy services division, after the government’s Green Deal failed to take off. The company said it would take a £40m charge as a result of the restructuring. Numbers of people signing up to the government financing scheme for people [...]
Miner Rio Tinto gives away loss making coal mine to Linc Energy October 3, 2013 RIO TINTO yesterday said it has agreed to give away a coal mine in Australia to local firm Linc Energy, which plans to reopen the mine and create over 100 jobs. The FTSE 100 mining giant has been selling off a number of its non-core assets as part of its strategy to cut costs after [...]
Alrosa readies flotation plan October 3, 2013 PRE MARKETING for Russian diamond producer Alrosa’s upcoming flotation began yesterday, City A.M. understands. Alrosa confirmed on Wednesday that the Russian government is looking to sell a 14 per cent stake in the firm, which is the world’s largest diamond miner based on volume. The shares will be traded in Moscow. Alrosa is targeting a [...]
Falkland Oil & Gas snaps up Desire October 3, 2013 Falkland Oil & Gas is to buy smaller Falklands-based firm Desire to create a company with licences to hunt for oil both to the north and south of the remote British territory in the south Atlantic. Falkland Oil & Gas said it had offered 0.6 of its “consideration” shares for each Desire share, in a deal [...]
