Opec’s monthly oil output at its highest in nearly three years June 11, 2015 Oil supply from the Organisation of Petroleum Exporting Countries (Opec) continued to edge upwards in May, hitting its highest rate since August 2012. The International Energy Agency (IEA) said in its monthly report that Saudi Arabia, Iraq and the United Arab Emirates pumped at record monthly rates, keeping output at more than 1m barrels per [...]
Force majeure stops shell’s Ukraine project June 11, 2015 Shell may pull out of its last exploration well in Ukraine as the project has been on hold for nearly a year due to the conflict between pro-Russian separatists and Ukrainian forces. The oil major said yesterday it has been unable to perform its commitments due to a force majeure.
EU referendum: CBRE says UK exit of European Union will hurt property sector June 11, 2015 An exit from the European Union could hurt property investment to the UK and damage London’s status as a world financial centre, a survey of investors has warned. More than 60 per cent surveyed by property advisors CBRE said leaving the EU would have a negative impact on the UK’s attractiveness as an investment location, [...]
Food sales lead May uplift for UK pubs and restaurants June 11, 2015 Britain’s pubs and restaurants enjoyed brisk trading in May, offsetting what had been a slow start to the year in the sector. Figures released yesterday by the Coffer Peach Business Tracker revealed like-for-like sales climbed 2.1 per cent compared to the same period last year. The strong growth comes after the tracker, which analyses sales [...]
Greene King leaps last hurdle in Spirit merger June 11, 2015 Greene King moved within touching distance of completing its takeover of Spirit Pub Company yesterday after announcing the acquisition was no longer subject to regulatory approval. The announcement that the company had waived approval from the Competition and Markets Authority (CMA) means the acquisition is expected to take place within weeks. Last [...]
Shire appoints Smith & Nephew chief executive to board June 11, 2015 BIO-PHARMA firm Shire is set to welcome Smith & Nephew chief executive Olivier Bohuon to its board of directors from 1 July it was announced yesterday. In addition, Bohuon is to join the company’s science and technology committee. Bohuon is the chief executive of medical equipment manufacturing firm Smith & Nephew and is currently a [...]
Tobacco giant sets bond price June 11, 2015 BRITISH American Tobacco said it had successfully priced around $4.5bn (£2.9bn) of dollar-denominated notes in a bond issuance, set to run until 15 June, it confirmed yesterday. The company said it would use the net proceeds of the offering to indirectly finance the subscription for additional ordinary shares in Reynolds American after its acquisition of [...]
Atkins weathers oil price storm in nuclear push June 11, 2015 ENGINEERING firm Atkins managed to shrug off most of the ill effects of the recent plunge in oil prices by moving further into the nuclear power sector, its chief executive said yesterday. Dr Uwe Krueger told City A.M. the group’s energy business had been successful in the year to 31 March due to its diversity. [...]
London leads finance sector wage gowth as chartered accountants enjoy above inflation pay rise June 11, 2015 Finance sector workers’ pay has picked up, according to data released yesterday by Icas, the trade body for chartered accountants. The group found that 39 per cent of chartered accountants polled received an above-inflation pay rise in the last twelve months, in a survey of over 1,100 Icas members. Next year 67 per cent expect [...]
Royal London fits the bill to protect birds June 11, 2015 Insurance firm Royal London Group has been appointed Pelican partner by the Royal Parks Foundation, to look after the birds living in St James’s Park. The partnership, which runs from now until March 2018, was designed to conserve the presence of pelicans in the capital. Royal London will support the birds’ feeding costs and veterinary [...]
