BHP in $4bn shale gas expansion November 14, 2011 BHP Billiton plans to spend over $4bn (£2bn) on developing shale gas in 2012 following two shale gas acquisitions this year, the head of the top global miner’s petroleum business said on Monday. BHP Billiton spent nearly $17bn buying shale gas producer Petrohawk Energy and shale gas assets from Chesapeake Energy earlier this year. “In [...]
ITV “outperforming” advertising market November 14, 2011 ITV said it expected to outperform the wider television advertising market in 2011 after reporting better than expected trading in the third quarter. The broadcaster, home to such shows as the “X Factor” and “Coronation Street,” said on Monday net advertising revenues in the three months through September were up one per cent, compared with [...]
Majestic wine toasts profits rise November 14, 2011 Majestic Wine has seen a 20 per cent rise in half-year profits, as customers have bought more expensive wines. The company made pre-tax profitS of £8.8m in the year to 26 September, compared with £7.3m a year earlier. Its like-for-like sales rose 2.7 per cent while revenues jumped nine per cent to £127.8m. The company [...]
Osborne in hunt for growth plan November 13, 2011 CHANCELLOR George Osborne is in talks with institutional investors about getting private cash to fund billions in infrastructure projects as part of a desperate bid to get the economy moving despite the global debt crisis. Among the ideas being mulled by HM Treasury is the establishment of an infrastructure investment fund to channel private money [...]
EU’s Monti named as Italian PM November 13, 2011 MARIO Monti, former European Commissioner, was appointed Prime Minister last night by Italian President Georgio Napolitano. He replaces Silvio Berlusconi, who lost his majority in parliament last week during a vote on a routine finance bill and resigned on Saturday. Markets and Eurozone leaders hope Monti will usher in a period of calm after the [...]
UK’s plan to cut sick bills November 13, 2011 WHITEHALL Mandarins are understood to be close to finalising a deal aimed at cutting the UK’s £13bn sickness absence bill. Officials hope to have new rules ready by the end of the month to discourage sick leave, including enrolling workers on a health insurance scheme. The plan could see workers – as well as employers [...]
Even Super-Mario may not save Italy November 13, 2011 THEY call him Super-Mario, for reasons that aren’t quite clear. But Mario Monti, Italy’s non-elected new prime minister, will certainly need super-powers if he is to save Italy from ruin, and prevent a major recession in the Eurozone and hence in the UK. Italy’s main problem is that its economy has barely grown since joining [...]
Vivendi to keep Universal November 13, 2011 UNIVERSAL expects it will have to make divestments in some markets following the acquisition of EMI’s recorded music division by its parent company Vivendi. Sources close to the firm told City A.M. no decisions will be made until after regulatory clearance has been granted – a process expected to take between eight and 10 months. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 13, 2011 FINANCIAL TIMES PRIVATE EQUITY GROUPS BOOST STAKES IN HOT FUNDS Investors in the secondary leveraged buy-out fund market are using further leverage to finance such purchases, adding another layer of risk and stirring up memories of the debt-fuelled private equity boom ahead of the financial crisis. While private equity groups in Europe and the US [...]
Exxon Mobil signs Kurdish deal November 13, 2011 Iraq’s Kurdish region has signed an exploration deal with Exxon Mobil, a Kurdish official said last night, confirming a deal Iraq has said could jeopardise the US oil giant’s southern oilfield contract. Natural resources minister Ashti Hawrami said the Kurdistan Regional Government (KRG) signed a contract with Exxon in mid-October for six exploration blocks in [...]
