Shell looks into improved offer for Cove Energy June 17, 2012 THERE WAS growing speculation over the weekend that Royal Dutch Shell will raise its offer for energy explorer Cove, after the firm extended its bid deadline for the second time. Shell said last week that shareholders in Aim-listed Cove now have until 27 June to accept its £1.12bn or 220p per share offer, but the [...]
CVC cuts Formula One stake in $500m deal June 17, 2012 US ASSET management company Waddell & Reed increased its stake in the Formula One motor racing business to 20.9 per cent from around 14.4 per cent over the weekend, in a $500m (£318.07m) deal after the motor racing business put flotation plans on hold. Private equity firm CVC, since 2006 the largest shareholder in Formula [...]
OLYMPIC MEDIA BUZZ LONDON 2012 PARTNERS June 17, 2012 IN ASSOCIATION with Repskan.com, City A.M. is measuring the relative Olympic media buzz around the London 2012 Olympic and Paralympic Games partners, week by week. The leaderboard, right, reflects their ranking over the past week, in this case from Wednesday 7 June to Wednesday 14 June. The news that Samsung’s Galaxy S3 users will get [...]
Union plans walkout at Ford June 17, 2012 MEMBERS of the Unite union will this morning begin a 24-hour strike over pay and pensions at Ford. Up to 1,200 workers are expected to walk out of the carmaker’s sites in Dagenham, Bridgend, Halewood and Southampton over wages and plans to close the company’s final salary scheme to new employees. “Ford remains willing and [...]
Floating wind power project seeks EU funds June 17, 2012 INVESTORS in the world’s first floating wind turbine are seeking European Union funding to build five more off the coast of Portugal following the success of initial testing of the device. The wind power generator, which cost €20m (£16.2m), floats over deep ocean waters, unlike previous offshore wind farms built in shallow waters and attached [...]
CITY MOVES WHO’S SWITCHING JOBS June 17, 2012 Cushman & Wakefield The commercial real estate services firm has announced that James Meikle will transfer from its Europe, Middle East and Africa corporate occupier and investor services team to head up occupier representation. He will specialise in advising City and Canary Wharf occupiers. Meikle previously ran Cushman & Wakefield’s office leasing business in Milan. [...]
BEST of the BROKERS June 17, 2012 DIXONS Panmure Gordon rates the electrical retailer as a “buy” with a target price of 28p ahead of results on Thursday. The brokers expects the numbers to provide support for the UK profit recovery story. AQUARIUS PLATINUM JP Morgan has downgraded the platinum produce from “neutral” to “underweight” with a target price of 63p after [...]
LONDON THE WEEK AHEAD June 17, 2012 THE world’s leaders will be watching the fallout from the Greek election today from Mexico, at the two-day G20 summit. But despite the focus on the election results this week – plus Spain’s report today on whether €100bn is enough to solve its financial woes – there is also a busy calendar for UK business [...]
THE WALL ST WEEK AHEAD June 17, 2012 IN addition to backyard barbecues and beer, this year’s Father’s Day was likely to have seen many investors with their minds on Greece. The Greek election – the vote yesterday that grabbed the attention of the world’s financial markets – is expected to create volatility in the new trading week, in particular, for US stocks, [...]
Cheap government credit isn’t the magic bullet for our future growth June 17, 2012 SOMETIMES life sucks. Sometimes, one day we are active athletic people, running and playing squash, and the next we experience a bad back injury and cannot run fast or twist any more. When such things happen, it is tempting to believe that there must be a solution, some magic bullet that will restore us quickly [...]
