Severstal to spin off Nord Gold November 30, 2011 Severstal, Russia’s biggest steelmaker, is set to spin off its Nord Gold unit and could list the standalone business in London, less than a year after being forced to pull a planned $1.5bn (£950m) public offering. A London listing for Nord Gold would raise the profile of the gold unit and allow it direct access [...]
Chariot hit by rig demand November 30, 2011 African-focused oil and gas explorer Chariot said it was being hampered by the difficulty in hiring a rig at the right price as demand made it more expensive. The rig it had anticipated to be available for the fourth-quarter for drilling on its Tapir South well has been contracted by another operator for a longer [...]
Carillion could cut 4,500 jobs November 30, 2011 Construction giant Carillion has warned 4,500 UK staff they could lose their jobs because of the government’s decision to slash subsidies on solar energy. Carillion blamed the cuts on the government’s decision to cut the so-called “feed-in tariffs” – payments to owners of solar panels for the electricity they generate for the National Grid. The [...]
CBI: high pay must match performance November 30, 2011 THE PAY of top company executives should be more closely aligned with their performance, employers’ organisation the CBI will say today. In response to a government paper on executive remuneration, authored by Vince Cable’s business department, the CBI will call for remuneration committees to use simpler and more transparent criteria when setting executive pay. And [...]
Starbucks drive-thrus to create thousands of jobs November 30, 2011 COFFEE chain Starbucks has unveiled plans to launch 200 new drive-thru stores across Britain over the next five years, creating 5,000 new jobs. The US giant, which currently has nine drive-thrus in the UK and opened its first outlet in Cardiff in 2008, said it was responding to strong demand for better quality coffee on [...]
Tesco launches second inflation linked bond November 30, 2011 TESCO Bank yesterday launched a follow-up to its sell-out retail bond, offering investors a return of retail price inflation (RPI) plus one per cent over the next eight years. The inflation-linked bond will pay interest twice a year, with the full amount repaid at maturity even if RPI has fallen. Tesco’s latest issue comes a [...]
Shaftesbury gets boost from booming West End November 30, 2011 THE WEST END property company Shaftesbury has hailed it most “prosperous” era despite the economic gloom, as it posted a 12 per cent rise in full year net asset value. Shaftesbury owns a prized portfolio of 500 properties in London’s popular tourist spots including Carnaby Street, China Town and Covent Garden. Brian Bickell, Shaftesbury’s former [...]
Licence a filip for Kalahari price November 30, 2011 Extract Resources has won a licence to develop its Husab uranium mine in Namibia, which could help push up the price a Chinese suitor may offer for the $2bn Australia-based company in a widely expected buyout bid. State-owned China Guangdong Nuclear Power Corp (CGNPC) is in talks to take over Extract’s 43 per cent shareholder, [...]
Haitong gears up for HK float November 30, 2011 Haitong Securities, China’s second-largest publicly traded brokerage, could raise about $1.7bn (£1.08bn) with a listing in Hong Kong, two sources with direct knowledge of the deal said yesterday. The company will offer 1.229bn shares at an indicative range of HK$9.38 to HK$10.58 each, putting the total deal at up to HK$13bn, according to the sources.
Mouchel pays for debt deal as losses rise November 30, 2011 SHARES in infrastructure services group Mouchel slumped more than 30 per cent yesterday after it plunged to a £64.8m annual pre-tax loss and said it paid high fees to refinance its debt for the second time. Mouchel, which provides traffic systems for roads and detects leaks in water pipes, blamed lower public spending and the [...]
