LONDON & STAMFORD SEALS £100M FINANCING August 23, 2011 London & Stamford, the property investor, said it has completed the £100m refinancing with Santander Corporate Banking and DekaBank against a number of its City of London office assets acquired over the past three years. The property company, which moved from London’s junior Alternative Investment Market to the main board last October, was set up [...]
Coulson paid by Murdoch while working for Tories August 23, 2011 THE spotlight yesterday fell back onto David Cameron’s relationship with Andy Coulson after it emerged the former News of the World editor failed to disclose regular severance payments from News Corp while advising the Tory leader. It is understood Coulson, who was arrested earlier this year on suspicion of being involved in phone hacking, received [...]
DMGT to net £106m from GLM unit sale August 23, 2011 Daily Mail publisher DMGT has agreed to sell its US-focused events business George Little Management (GLM) to private equity outfit Providence Equity Partners in a deal worth £106m. DMGT says it will receive £90m in cash, which it will use to reduce debt, and will take the remainder in the form of an interest-bearing note. [...]
Investors chance their ARM August 23, 2011 SHARES in chip designer ARM Holdings continued to creep up yesterday as investors eyed further consolidation in the technology sector. It has been buoyed by HP’s shock $10.2bn (£6.2bn) deal to buy UK software firm Autonomy. Intel, which has been out-manoeuvred by ARM in the mobile chip market, has been persistently linked to the firm. [...]
Chime profits jump by 15pc August 23, 2011 LORD Bell’s Chime Communications saw its shares slump more than five per cent yesterday despite its pre-tax profits surging 15 per cent. The PR outfit was boosted by strong growth in its sports marketing and advertising divisions. Bell, who is a former media adviser to Margaret Thatcher, expects 2012 to be a good year for [...]
Antofagasta ups dividend as profits rise August 23, 2011 CHILEAN copper miner Antofagasta doubled its half-year dividend yesterday after a 54 per cent jump in earnings, confident that strong demand in China and a pickup in Japan and the United States would help underpin volatile copper prices. Copper is down over 10 per cent this month, as investors grow uneasy about economic recovery prospects [...]
Cairn pins hopes on Lebanon August 23, 2011 BRITISH oil firm Cairn Energy confirmed yesterday that it is lining up exploration opportunities in Lebanon, as its long-running deal to sell a stake in its Indian business nears an end. In June, India granted conditional approval for Vedanta to buy a stake in Cairn India from Cairn Energy in a $6bn deal that was [...]
Wood Group upbeat as oil explorers raise spending and markets improve August 23, 2011 ENERGY services firm John Wood Group raised its interim dividend and gave an upbeat outlook on 2011, with its oil exploration customers expected to increase their spending. Earnings before interest, tax and amortisation were $192m (£116m) in the six months to 30 June, the company said yesterday, up 25 per cent from a year ago. [...]
UK Coal says it is back in the black after four years August 23, 2011 BRITAIN’S biggest coal company UK Coal has posted its first profit for four years, but the group’s debt levels remain a concern. Pre-tax profits at UK Coal were £22.2m, up from a loss of £92m last year. Revenue also rose, increasing from £141m to £256m over the same period. But the group’s net debt remained high [...]
Earnings rise at insurer CPP despite FSA probe August 23, 2011 IDENTITY protection provider CPP Group said its first-half profits had jumped by a third yesterday but warned that a probe into its selling practices had hurt its business. York-based CPP, which also insures credit cards, said it made £23.1m pre-tax profit on revenues of £172.1m in the first half, but said its performance had been [...]
