3i chief picks out growth nations October 13, 2011 Africa, Indonesia, Mexico and Turkey will be among the next group of emerging investment locations, according to the head of listed private equity firm 3i. Michael Queen said there are still opportunities in China but warned that the number of private equity funds was outpacing transactions. “There are now four funds for every deal done [...]
Carlyle chief’s call over fundraising October 13, 2011 Private equity fundraising has hardly changed in 40 years, Carlyle Group’s co-founder told the BVCA. David M Rubenstein, managing director, said the influence of sovereign wealth funds had increased and high-net worth individuals were using feeder funds more often. “The only thing that has really not changed in the entire universe is private equity fundraising.” [...]
PWC HOSTS AWARDS TO MARK BEST PRACTICES October 13, 2011 AS anyone who’s attended a City awards ceremony will know, it’s often hard to keep the attention of a room full of businessmen and women who are used to being online 24/7. But ITN news anchor Mary Nightingale had no such trouble on Wednesday night when she hosted the 9th annual PwC Building Public Trust [...]
Surprise rise in UK exports over August October 13, 2011 UK EXPORTS increased to their highest level ever in August, as the economy fared unexpectedly well, according to data out yesterday from the Office for National Statistics. A 0.5 per cent increase in total exports compared with July was recorded, taking the total value up £191m to £40.77bn. Meanwhile, imports fell by £205m, also 0.5 [...]
Chinese trade surplus halved as sales growth to EU slows October 13, 2011 DEMAND growth both globally and in domestic Chinese markets declined in September, resulting in a narrowing of China’s trade surplus, official figures revealed yesterday. At $14.5bn (£9.2bn), the surplus stands at less than half the $31.5bn seen in July and is down from $17.8bn in August. Trade did grow, with exports up by 17.1 per [...]
US jobless claims steady as trade deficit narrows October 13, 2011 THE NUMBER of Americans filing new claims for jobless benefits was steady last week, while the US trade deficit narrowed slightly in August. Initial claims for state unemployment benefits dipped 1,000 to a seasonally adjusted 404,000, the Labor Department said yesterday, just below economists’ expectations. A separate report from the Commerce Department on the trade balance [...]
BP cleared for £4.5bn North Sea oil field October 13, 2011 BP AND its partners Royal Dutch Shell, ConocoPhillips and Chevron won the government’s approval yesterday to push ahead with a £4.5bn investment to develop one of the largest North Sea oil fields. The oil major said the second-phase development of the giant Clair field, west of the Shetland Islands, takes to £10bn the new projects [...]
Rolls-Royce hits all-time high on US engine deal October 13, 2011 US PLANE engine maker Pratt & Whitney agreed a surprise $1.5bn (£952m) deal to buy Rolls-Royce’s share of the International Aero Engines (IAE) consortium, sending shares in Rolls-Royce to an all-time high. As well as the deal for IAE — which makes the V2500 engine for Airbus A320 jets — the pair also said they [...]
Ophir seals a £118m deal in east Africa October 13, 2011 NEWLY-LISTED oil and gas firm Ophir Energy has agreed to buy Dominion Petroleum in a £118m all-share deal that will expand its portfolio of projects in East Africa. Ophir, which raised $375m (£239m) when it debuted on the London Stock Exchange in July, said yesterday it would offer 0.0244 Ophir shares for each Dominion share, [...]
The music-loving Cooper adds an acquisition to a busy year October 13, 2011 FEW company directors have successfully braved the new issue markets in the past year and now one of them has also completed on a strategic acquisition. Nick Cooper left Salamander Energy earlier this year, a company he co-founded, to become managing director of Ophir ahead of the group’s London listing. Yesterday, as Ophir announced its [...]
