AN OPEN EVENING AT THE ARTILLERY COMPANY May 8, 2012 The Honourable Artillery Company in the City held an open evening yesterday as part of its 475th anniversary celebrations. The evening included horse displays by the Kings Troop and a parachute drop into the Artillery Garden. The event was designed to encourage City workers to sign up as members of the Territorial Army. There was [...]
Statoil hails Arctic deal as production edges up May 8, 2012 STATOIL yesterday gave an upbeat assessment of its new Arctic oil exploration deal in Russia yesterday as it reported forecast-beating first quarter production figures. The Norwegian oil and gas company said it was optimistic about a new tie-up with Rosneft to drill for oil in the Arctic, although it said the project was high risk. [...]
Exillon gets boost as fuel output increases May 8, 2012 OIL explorer Exillon yesterday reported a 55 per cent jump in production for the three months to the end of April alongside above-average selling prices for its fuel. Production at the FTSE 250-listed firm averaged 11,448 barrels per day compared with 7,386 bpd in the equivalent period last year. In April, Exillon hit an all-time [...]
Essar files writ over Indian tax repayments May 8, 2012 INDIA-FOCUSED energy company Essar Energy yesterday filed a writ in the Gujarat high court to seek more information on how it should repay taxes owed. In January the company was told it could not defer the repayment of sales tax the Indian government claimed it was owed. Essar unsuccessfully appealed to the country’s supreme court. [...]
Morgan Crucible hit by a slowdown in revenue May 8, 2012 BRITISH advanced materials group Morgan Crucible said yesterday revenue in the first four months of 2012 was marginally lower than in the same period last year. Turnover dipped four per cent, but the firm said that despite the slower start there were signs of improvement. Morgan Crucible said that the ceramics division had performed strongly [...]
TULLOW BUOYED BY KENYAN OIL UPGRADE May 8, 2012 Tullow Oil shares jumped 3.3 per cent yesterday after it revealed that one of its wells in Kenya has more oil than expected. FTSE 100-listed Tullow has a 50-50 deal with Africa Oil on the project, which is in line to be Kenya’s first oil production. Analysts at Morgan Stanley said the upgraded find could [...]
US buyout firm Apollo lifted by capital markets May 8, 2012 SHARES in Apollo Global jumped yesterday after it boosted the listed buyout sector with a rise in first-quarter profits. The US private equity house, run by billionaire Leon Black, posted a 22.7 per cent rise in economic net income (ENI) to $462m (£286m). The performance of Apollo is eagerly watched following its $565m initial public [...]
Disney beats earnings forecasts thanks to theme parks and TV May 8, 2012 WALT Disney said last night that its quarterly earnings have risen 21 per cent, as the company posted growth at its media networks such as ESPN and at its theme park business. Disney reported net income of $1.1bn (£681m) for the fiscal second quarter, beating expectations. Revenue rose six per cent to $9.63bn, with a [...]
TUI pins hopes on summer as losses widen May 8, 2012 TUI TRAVEL, the world’s biggest tour operator, said yesterday it was on track to meet full-year expectations despite seeing losses widen in the first half of the year. The owner of Thomson and First Choice posted an underlying operating loss of £317m in the six months to 31 March compared with £307m last year, blaming [...]
Asian growth boosts profit at Deutsche Post May 8, 2012 Deutsche Post DHL said it was upbeat on the rest of the year yesterday after new contracts and demand for express delivery services in Asia helped it beat expectations for sales and profit in the first quarter. “There is still very healthy growth [in Asia] and we are profiting from that because we are still [...]
