Rolls-Royce is lifted by £1bn Trident contract June 18, 2012 SHARES in Rolls-Royce rose to outperform the general market yesterday, after it confirmed it had signed a contract worth more than £1bn with the ministry of defence to deliver reactor cores for the UK’s nuclear-powered submarine fleet. The deal includes the refit of Rolls’ submarine propulsion reactor factory at Derby in central England, where Rolls [...]
Indian consortium pulls out of bidding war for Cove Energy June 18, 2012 AN INDIAN consortium said yesterday it was no longer considering making an offer for Cove Energy, confirming the battle for the Mozambique-focused explorer is a two-horse race between PTT and Shell. India’s Oil and Natural Gas, through its Videsh unit, and GAIL India said in February they had teamed up to look at making an [...]
Rhoen investors sell to Fresenius June 18, 2012 Rhoen-Klinikum’s two biggest investors are selling their holdings to Fresenius, putting the German healthcare group well on its way to taking over the hospital operator. Fresenius in April unveiled a plan to buy Rhoen for
Botswana accident hits Gem June 18, 2012 Gem Diamonds said initial production at a mine in Botswana would be delayed until the first half of 2014 following an accident that killed two employees. Production at the Ghangoo mine was scheduled to start in 2013 at an initial rate of 100,000 carats per year, rising to a peak steady state of production of [...]
Liberum wins Mediterranean Oil June 18, 2012 Mediterranean Oil & Gas said yesterday it had hired Liberum Capital to be its nominated advisor and joint broker. Chief executive Bill Higgs said: “We look forward to working with Liberum as we focus on developing into a leading independent oil and gas company in the wider Mediterranean region.” GMP Securities Europe remains as joint [...]
Mortgage woes grow for older house owners June 18, 2012 THE NUMBER of over-60s struggling to keep up with mortgage payments is on the rise, a leading counselling group said this morning, while separate figures show that people hoping to buy a home are being squeezed out of the property market. Among people who have a mortgage, an inability to keep up with payments is [...]
Eurozone threatens London’s optimism June 18, 2012 BUSINESSES in the capital are significantly more bullish about economic prospects than they were six months ago, a leading survey reveals today – although the Eurozone crisis is threatening to dampen the mood. Over four in 10 respondents from London firms reported a more optimistic outlook for the economy over the next six months, the [...]
India refuses to slash rates June 18, 2012 THE RESERVE Bank of India has flouted calls to cut interest rates or to reduce banks’ cash reserve requirements, opting yesterday not to provide more monetary stimulus for the country. India’s central bank chose to keep the repo rate at eight per cent and the cash reserve ratio at 4.75 per cent, in order to [...]
Home builders’ morale in the US stretches to five-year high June 18, 2012 THE OUTLOOK for America’s housing market received a boost yesterday as confidence among US builders climbed to a fresh five-year high. A widely-regarded survey conducted by the National Association of Home Builders (NAHB) and Wells Fargo edged up to an index score of 29 for June. May’s score was revised downwards, but still showed an [...]
CITY MOVES | WHO’S SWITCHING JOBS June 18, 2012 Duncan Lawrie Jane Parry has been appointed to the UK board of Duncan Lawrie Private Bank. She joined the business a year ago and is now director, head of marketing and new business development. Parry started her banking career at Barclays, where she became marketing director of Premier banking in 2006. She has also held [...]
