Mecom plunges as it warns over its profit again June 6, 2012 SHARES in Mecom plummeted yesterday after the publishing group warned that full-year core earnings are expected to be below market estimates due to weakness in its Dutch advertising revenues. The European group, which has 1.2m subscribers and caters to the Netherlands, Denmark and Poland, said that it expects full-year earnings before interest, taxes, depreciation and [...]
Aggreko wins a $250m power supply contract in South Africa June 6, 2012 BRITAIN’S Aggreko and its local joint-venture partner Shanduka Group will supply 107 megawatts of gas-fired power to Mozambique and South Africa, in a deal worth an estimated $250m (£161.5m). Countries in southern Africa have been struggling to meet fast-rising demand for power, with the next two years seen as particularly tight until new power plants [...]
Pinewood Studios to give 20pc stake and advice to Isle of Man June 6, 2012 PINEWOOD Shepperton yesterday unveiled an arrangement which would see the Isle of Man government buy a fifth of the British film studio for £24m. The British Crown island said it is seeking a stake of up to 19.9 per cent in Pinewood, which would in turn become an adviser to the Isle of Man’s Media Development [...]
China Nuclear plans float to fund projects June 6, 2012 CHINA National Nuclear Power Co, the country’s biggest nuclear power developer, plans to raise money to help fund projects worth £17.6bn via what could be one of China’s biggest initial public offerings (IPOs). It did not specify its fundraising target or IPO timing in a statement on the Ministry of Environment Protection’s website, but said [...]
COPYCATS UNDER SHARK ATTACK FROM TOYMAKER June 6, 2012 Wow! Stuff, the UK toymaker that makes gadgets for Dr Who and the Science Museum, is suing 16 undisclosed high street names across the UK and Europe for selling counterfeits of one of its best-selling toys. The company said it also sent over 500 letters to retailers and manufacturers across the world to protect its [...]
New oil find for Premier Oil in the North Sea June 6, 2012 PREMIER Oil was yesterday buoyed by a new oil find in the North Sea. The FTSE 250 explorer said that its Carnaby exploration well had found oil. Premier owns 50 per cent of the project while Cairn has a 15 per cent holding. Nautical Petroleum also has a 15 per cent slice. The company said [...]
Global mining profits increased in 2011 despite fall in share price June 6, 2012 THE world’s top 40 mining companies saw their combined profits hit a record of $133bn in 2011, but the success failed to transfer to the stock markets as overall market capitalisation fell by 25 per cent. According to a report into mining industry trends by PwC, net profits climb 21 per cent to $133bn last year, [...]
ANALYST VIEWS | HOW SIGNIFICANT IS THE LATEST NORTH SEA FIND BY PREMIER OIL? June 6, 2012 NICK COPEMAN ORIEL SECURITIES We retain our buy recommendation and note that Premier is one of our top picks in the sector. The next news is expected to be from the Bentang well in Indonesia (which is a high-risk potential play opener). The next well in the North Sea programme is Coaster which is seen [...]
CITY MOVES | WHO’S SWITCHING JOBS June 6, 2012 Winston & Strawn Justin McClelland has joined the law firm from Milband as a partner in its global commercial litigation practice. He started his legal career at Slaughter & May, and previously served in Army Legal Services, reaching the rank of lieutenant colonel. He was appointed a Member of the British Empire (MBE) in 1998. PIMCO [...]
BEST of the BROKERS June 6, 2012 LADBROKES Panmure Gordon rates the bookie as “buy” following the company’s confirmation that its head of trading Jon Thompson has been dismissed pending appeal. Panmure said this is clearly disappointing news but “this cloud may have a silver lining” if superior traders can be recruited. LOGICA Investec recommends “hold” for the tech company’s stock and [...]
