REPSOL MAKES ITS BIGGEST EVER SHALE FIND November 7, 2011 ARGENTINE energy firm YPF, the local unit of Spain’s Repsol, said yesterday it had made a very large shale oil discovery, identifying unconventional energy resources of 927m barrels of oil equivalent (boe) in Patagonia. The find is Repsol’s largest ever, and could elevate Argentina to becoming one of the world’s leading producers of the oil.
It’s time for UK institutions to take more risk November 7, 2011 WOULD-BE investors in UK stocks are in a bad place right now. The long-only funds have too few successes to boast about and the hedge funds are scared of ever-increasing redemptions. As far as the majority of the UK investor base is concerned, IPOs of untested UK companies are distinctly off the menu. Those same [...]
L’Oreal reiterates upbeat goal November 7, 2011 Cosmetics maker L’Oreal reiterated its full-year goal to outperform the market and increase sales and profitability after strong demand for its luxury products helped third-quarter sales meet expectations. Revenue rose 4.8 per cent like-for-like to €4.94bn (£4.2bn) in the three months to 30 September, the seller of Garnier shampoo, Lancome creams and Yves Saint Laurent [...]
US bookseller launches tablet November 7, 2011 US bookseller Barnes & Noble has introduced its first ever tablet to compete with Amazon and Apple for holiday sales. Barnes & Noble will charge $249 (£155) for the Nook tablet, which is expected to hit the shelves late next week. That compares to the $199 price tag on Amazon’s new Kindle Fire, which will [...]
ENRC plan is silly, says ex director Olisa November 7, 2011 FORMER ENRC director Ken Olisa yesterday slammed as “silly” a plan by the mining company to pay $650m (£405.6m) to buy the outstanding 75 per cent of Kazakh coal producer Shubarkol Komir from its founders. “The ENRC directors were ill advised to try to do this transaction. Not because it’s a bad deal – it’s not. [...]
InvenSense files to raise up to $85m in IPO November 7, 2011 CHIPMAKER InvenSense filed with US regulators yesterday to sell fewer shares at a lower price range than it had originally expected in its initial public offering (IPO) of common stock. InvenSense, which in August delayed its IPO due to market conditions, said it would sell up to 10m common shares priced at $7.00-$8.50 (£4.37-£5.30) each. [...]
Carphone hits forecasts as it lets US go November 7, 2011 CARPHONE Warehouse yesterday confirmed it has offloaded its US joint venture for $1.3bn (£810m). The sale of the blisteringly successful mobile phone business to its partner Best Buy was tinged with regret over the failure of its UK “Big Box” joint venture. It confirmed the long expected shuttering of its 11 white goods stores after [...]
Sale is a sensible move but it’s time to break out the cava, not champagne November 7, 2011 CARPHONE took the rough with the smooth yesterday, cashing in on one success while taking the failure of another on the chin. The US sale crystallises value for Carphone shareholders – who are in for a payday – but the deal is not spectacular in and of itself. Best Buy has factored in an expected [...]
Data traffic to jump ten-fold November 7, 2011 Mobile data traffic will grow 10-fold over the next five years as demand for video on the go continues to drive growth. According to new research by Ericsson, mobile broadband subscriptions grew 60 per cent in the last year and are expected to jump from 900m now to almost 5bn in 2016. Total smartphone traffic [...]
Telecity to start paying dividend November 7, 2011 Data centre operator Telecity said yesterday demand remains strong across its European markets and said its cash flows will enable it to start paying a dividend next year. The group, whose facilities are located in Europe’s major business centres like London and Paris, is seeing growth from cloud computing and social networking. Telecity, which plans [...]
