BP close to relief well breakthrough June 28, 2010 BP has said it is close to connecting the first of two relief wells to its leaking Macondo oil well in the Gulf of Mexico. The oil company said in a statement that the first relief well had reached a depth of 16,546 feet. It is within 200 feet of the original blow-out well known [...]
Taylor Wimpey sees house sales rebound June 28, 2010 HOUSEBUILDER Taylor Wimpey said sales have recovered after a lull around the time of the general election but political uncertainty is leading to caution in the sector. The UK’s third-largest volume housebuilder said private sales rate for the year to date are broadly flat year-on-year at 0.58 sales per site per week, while its order [...]
Standard Chartered upbeat after Asian market boost June 28, 2010 STANDARD Chartered said it was on track for a strong first-half performance as its key Asian markets fared better than the west and it grabbed market share. However, it admitted that recent economic turbulence had hurt business. The bank said in a trading update Monday that increased economic uncertainty had resulted in a weakening in [...]
BT to offer Sky Sports for new season June 28, 2010 BT will offer customers of its Internet television service access to rival BSkyB’s sports channels in time for the new Premier League season, it has said. BSkyB was ordered by telecoms regulator in March to cut the prices it charges competitors to air its sports channels, loosening BSkyB’s grip on premium programming and potentially sparking [...]
Rothschild’s Vallar in £600m listing plan June 25, 2010 New mining investment firm Vallar Plc has unveiled plans to list on the London Stock Exchange and raise £600m to take advantage of acquisition opportunities in the sector. The firm, led by finance and mining veterans Nathaniel Rothschild and James Campbell, plans to start with one major acquisition and eventually build up a mid-tier mining [...]
Matalan profit up June 25, 2010 Budget fashion retailer Matalan has seen a profit rise. The retailer made profits of £186m in the year to February – £41m up on the previous 12 months. Founder John Hargreaves shelved a plan to float the company earlier this year. Matalan trades from 205 UK stores with three more overseas.
Avis plans £151m rights issue June 25, 2010 CAR rental group Avis Europe has announced plans to raise £151m from shareholders with a rights issue. The issue has already won the the backing of Brussels motoring services firm D’Ieteren, which owns 60 per cent of the company. The firm has seven million customers a year through the Avis and Budget brands. It has [...]
Cameron to defend UK fiscal squeeze at summit June 25, 2010 David Cameron has defended Britain’s decision to implement the biggest fiscal squeeze in a generation as G20 leaders prepared to meet in Canada to discuss the global economy. Last year’s G20 unity on the need for coordinated action to support the world economy has started to falter as the recovery has got under way. Ahead [...]
BP shares tumble again as Gulf crisis bill soars June 25, 2010 BP has admitted that the bill for the Gulf of Mexico spill has soared to £1.57bn. The company said the sum included £84m paid out in claims to those affected by the disaster. Progress on the relief well, intended to kill the leaking well, and measures to improve the capture of oil from the leaking [...]
Sants warns over regulation shake-up June 24, 2010 CHOPPY markets and growing European Union powers will pose big challenges for the country’s transition to a new financial supervisory system, a top regulator said. The government announced last week it would scrap the Financial Services Authority (FSA) and fold many of its powers into a new Bank of England subsidiary by 2012. The aim [...]
