Balfour Beatty to make $40m from disposal February 16, 2015 SHARES in infrastructure group Balfour Beatty went up by 1.02 per cent yesterday after the group announced it is set to make $40m (£26m) from the disposal of an 80 per cent interest in the Thanet offshore transmission project (OFTO). The project, which connects the Thanet Wind Farm, off the coast of Kent, to the [...]
Nama to sell Arrow project February 16, 2015 THE REPUBLIC of Ireland’s state-controlled “bad bank” has appointed advisers to sell an €8.4bn (£6.2bn) portfolio of non-performing loans called Project Arrow. The National Asset Management Agency (Nama) was set up to handle property loans attached to the collapse of the Irish property market in 2009. It has brought in Cushman & Wakefield’s Corporate Finance [...]
Eurozone trade surplus lifts as imports tumble February 16, 2015 FALLING imports and rising exports of goods pushed the Eurozone’s trade surplus to a record high in December, official data showed yesterday. The surplus increased to €24.3bn (£18bn) in December, up from €13.6bn in a year earlier. Such a strong figure should boost GDP in the troubled currency area, but also reflects the weak demand [...]
Infinis Energy blames flat third quarter results on oil market weakness February 16, 2015 Landfill gas business Infinis Energy reported revenue of £129.9m for the nine months ended 31 December 2014, compared with £125.7m in the same period of 2013, following a mixed performance which the firm partly attributed to weakness in the oil market. The company stated that its landfill gas operations had continued to perform ahead of [...]
The City and Silicon Roundabout lead Britain’s economic recovery February 16, 2015 London’s buoyant recovery is driving Britain’s economy forward, a study from RBS showed today. Inner-east London was the fastest growing locality in the country last year, expanding by 5.2 per cent. Next up was Milton Keynes at 4.9 per cent, followed by Aberdeen at 4.8 per cent. “Top of the class last year was London, driven [...]
Animal genetics firm Genus to buy stake in Brazilian specialist In Vitro Brasil February 16, 2015 Bull and pig sperm specialist Genus has signed an agreement to buy 51 per cent of In Vitro Brasil (IVB) through its bovine genetics business ABS. The Basingstoke-headquartered company, which had global revenues of more than £4m last year, will pay 20m Brazilian Real (£4.6m) for the deal. It plans to acquire the remaining 49 [...]
Europa shares boosted in deal with Vermilion February 16, 2015 SHARES in Aim-listed Europa Oil & Gas climbed by 9.3 per cent yesterday, after the firm announced it has farmed out an 80 per cent interest in its Tarbes Val d’Adour Permit in France to Vermilion Energy. If Vermilion proceeds with exploration activities, it will assume all costs up to a total of €4.65m (£3.45m), [...]
All Leisure Group narrows losses despite a hit from Ukraine crisis February 16, 2015 CRUISE operator All Leisure Group almost halved pre-tax losses last year to £7.2m from £13.6m a year earlier, despite a five per cent fall in passenger numbers and a hit from unrest in Crimea, Ukraine and Egypt. The company said the warfare in Ukraine knocked earnings by £1.9m, as it had to reschedule three cruises. [...]
City Moves for 17 February 2015 | Who’s switching jobs February 16, 2015 KPMG The professional services firm appoints Ken Hall as partner and Curtis Baron as director to its UK security and business resilience practices. Hall joins from Wipro, and has over 25 years of IT experience. Baron joins from RBS, where he was group head of Resilience. Linklaters Matt Peers has been appointed as the law [...]
Best of the Brokers for 17 February 2015 February 16, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com HUNTING Numis has upgraded its recommendation for British oil and gas service provider Hunting from “reduce” to “buy”, after the company said it expected its 2014 financial year results to be in line with expectations. “We now believe the market is ahead of [...]
