Congo strips Tullow of two oil block deals June 24, 2010 Democratic Republic of Congo has stripped British energy firm Tullow of its rights to two oil blocks on Lake Albert, thought to hold vast crude deposits, according to leaked documents yesterday. Presidential decrees awarded little-known energy firms Caprikat and Foxwhelp, both registered in the British Virgin Islands, development rights to Block 1 and Block 2 [...]
Network Rail’s £2.2m bonuses for executives sparks outrage June 24, 2010 government and trade unions condemned Network Rail yesterday for awarding its top managers bonuses and incentive payments totalling more than £2.2m. Transport secretary Philip Hammond said: “In the week when everyone has been asked to share the burden of reducing Britain’s deficit, people will rightly be asking how Network Rail’s top executives feel this is [...]
Petrofac to set up in Iraq as it seeks to boost orders pipeline June 24, 2010 BLUECHIP oil and gas services company Petrofac yesterday said it expected its backlog of contracts to be higher at the end of the year than it was at the start as its bidding pipeline strengthened. Group backlog is estimated to be around $6.9bn (£4.6bn) on 30 June the FTSE 100 company said and by the [...]
AFTER FINANCE AND FILMS, CITY VETERAN IS STILL FULL OF BEANS June 24, 2010 WILL that Stefan Allesch-Taylor ever stop adding to his already thickly-strung bow? A City veteran of some stature (quite literally: Allesch-Taylor stands a formidable 6’10” tall), he is best known as the founder of boutique Mayfair-based investment bank Fairfax. In addition to that, his CV lists top positions at any number of firms, including Clearbrook [...]
BA to hire cut-price crew to beat strike June 24, 2010 BRITISH Airways (BA) said yesterday it planned to recruit over one thousand new cabin crew on lower wages than current staff as it faces possible further strikes by existing flight attendants in August. The Unite union, which represents 90 per cent of BA’s 12,000 cabin staff, criticised the move which would do nothing to end [...]
More penalty misery beckons for England June 24, 2010 GERMANY VS ENGLAND SUNDAY – 3.00PM BBC 1 WELL, who’d have thought it? England face Germany in the second round and, if successful, it is likely they will meet another bitter rival, Argentina, in the quarter-final. The similarities between this side and the one that made it to the semi-finals in 1990 were further exaggerated [...]
BAT shuffles top staff as chief exec Paul Adams retires June 24, 2010 BRITISH American Tobacco said its chief executive Paul Adams will retire next February, to be replaced by chief operating officer Nicandro Durante. The world’s second biggest cigarette-maker said yesterday 53-year-old Durante, who has worked for the company for 29 years, will take over as chief executive designate in September. A number of other staff shuffles [...]
BAA weathers air travel disruption and plans Heathrow improvements June 24, 2010 AIRPORT operator BAA lowered its 2010 profits forecast by £10m yesterday, less than the £40m lost in disruption caused by the British Airways strikes, winter storms and volcanic eruptions. It also rekindled plans for a high speed railway from Waterloo to Heathrow, mooting further investment in rail links and improving Terminal Two with the money [...]
Tim Easterby’s Deauville Flyer can land Plate with no weight June 24, 2010 Newcastle’s Northumberland Plate takes centre stage tomorrow at 3.05pm and David Pipe will be trying to pull off a big race double with Mamlook following his win in the Chester Cup. Pipe tasted success at Royal Ascot last week with Junior in the Ascot Stakes and he must be enjoying this Flat malarkey. Tim Easterby’s [...]
P&G increases its European market share June 24, 2010 PROCTER & Gamble, the maker of Gillette razors, said yesterday that new product ranges and cheaper versions of existing brands were boosting its market share in Europe in a particularly difficult economic climate for retailers. The world’s biggest consumer goods group has launched new automatic dishwasher and stain removal products over the last two years, [...]
