Hanjin Shipping’s share price dives as shipping giant announces closure of European business October 24, 2016 Shares in South Korean freight giant Hanjin Shipping have dived almost 12 per cent this morning after the company announced it plans to shut its European business. A court in Seoul overseeing the company's receivership process today approved Hanjin winding down four of its European units, including Hanjin Shipping Europe and Hanjin Shipping Poland. The company expects [...]
Gusbourne puts the sparkle back into the English wine industry as it angles a move in tourism sector October 23, 2016 Demand for sparkling wine has bubbled up in the past few years, cementing its place as one of the UK’s favourite drinks. Although prosecco has benefitted the most from this trend, outselling champagne for the first time in 2014, there’s a challenger on the sparkling wine scene that’s being made a lot closer to home. That new [...]
British American Tobacco (BAT) hopes for lucky strike with $47bn offer for remaining stake in Reynolds American October 23, 2016 Reynolds American is this week expected to respond to a $47bn (£38.4bn) takeover offer from British American Tobacco (BAT), in a move that would create the world’s largest listed tobacco group by turnover. FTSE 100-listed BAT, which already owns 42.2 per cent of Reynolds, said on Friday it will pay $56.50 per share in a [...]
Open offer and £70m share placing whips up a storm for Hurricane Energy October 20, 2016 Hurricane Energy today announced it has conditionally fundraised £70m in a share placing to help develop its drilling operations in the North Sea. The UK-based oil and gas company has proposed an issue of almost 206m placing shares at a cost of 34p per share with existing and other institutional investors. The group will also raise [...]
IronRidge Resources’ share price jumps 11 per cent on Ghana lithium licence October 20, 2016 Shares in Aim-listed mineral exploration company IronRidge Resources rose 11 per cent today after the group announced it has secured a "highly prospective" lithium licence in Ghana. The 76 square km licence is adjacent to the company's existing lithium project portfolio, located within 100km of the capital city Accra. The licence has excellent infrastructure, logistics and services support [...]
BHP Billiton chairman Jac Nasser announces he will not seek re-election next year October 20, 2016 The chairman of BHP Billiton will step down next year after seven years of leading the board of the world's biggest miner. Australian Jac Nasser, who was appointed chairman in March 2010 and has been a board member since 2006, told shareholders at BHP's annual meeting in London today that he will not seek re-election next year. "Last [...]
Shares in ground engineering firm Keller Group shed 27 per cent after warning on 15 per cent profit fall October 20, 2016 Shares in ground engineering firm Keller Group plummeted 27 per cent today after the company warned its underlying profits are likely to come in 15 per cent below market expectations. A continuation of "very difficult" conditions and "underperformance" in Keller's main markets in the Asia Pacific region will drag down full-year profits, the group said in a trading update [...]
Chemical Industries Association urges tariff-free Single Market access to keep investment rolling in as part of Brexit manifesto October 20, 2016 The UK's chemical industry has urged the government to negotiate tariff-free access to the Single Market in a Brexit manifesto published today. The Chemical Industries Association (CIA) has also called for the availability of skilled people to be secured, the supply of competitive and secure energy and “a policy framework that encourages scientific progress” as [...]
BHP Billiton aims for half of workforce to be women by 2025 October 19, 2016 The world's largest mining company has set an ambitious new target for gender parity and will aim for women to comprise half of its workforce for 2025. BHP Billiton (BHP) will announce the new goal at its annual general meeting in London today. At present, 17 per cent of the FTSE 100 miner's 65,000 employees are women. Read [...]
West Texas Intermediate crude price highest level in more than a year on US stockpile data October 19, 2016 Prices of the black stuff rose more than two per cent today after a surprise fall in US crude inventories. Stockpiles fell by 5.2m barrels in the week ended 14 October, according to data released by the Energy Information Administration, dashing analysts' expectations of a build. This is the sixth fall in inventories in seven weeks. US [...]
