Shell examines $4bn worth of Nigerian work April 19, 2012 ROYAL Dutch Shell is assessing projects that could be worth around $4bn (£2.5bn) to boost oil production in Nigeria and cut flaring of associated natural gas. Chief executive Peter Voser said the projects should be completed by 2015. Oil companies such as Shell have been criticised for flaring gas instead of trapping it to sell [...]
INDIA TESTS LONG-RANGE MISSILES April 19, 2012 INDIA successfully test-fired a long-range missile comparable to those owned by China, the US and Britain yesterday. The missile, capable of reaching Beijing, reflects the country’s ambitions of playing a larger role on the world stage to match the power of its rapidly growing economy.
RusPetro trebles revenues April 19, 2012 RusPetro, an independent Russian oil company that raised $240m (£149m) when it floated in London in January, more than trebled revenue and cut core losses in 2011 as it expanded its reserves base and boosted output. Its loss before interest, taxation, depreciation and amortisation narrowed to $5.5m from $6.3m the previous year, on revenue up [...]
Talvivaara warns of losses April 19, 2012 Finnish miner Talvivaara warned of an operating loss for the first quarter yesterday and said its annual nickel production would be at the low end of its forecast range after a new recycling system and a fatal accident at a plant hurt output. The company reiterated its 2012 nickel production forecast of 25,000 to 30,000 [...]
DMGT discusses a fresh new name April 19, 2012 With 74 per cent of its profits coming from its business to business activities, Jonathan Harmsworth’s Daily Mail and General Trust group is becoming increasingly less reliant on its national newspapers for its financial growth. So it comes as no surprise to the CAPITALIST to hear there have been some vigorous discussions within the DMGT [...]
LONDON 2012 IMAGE OF THE WEEK April 19, 2012 The world’s leading wheelchair rugby teams arrived in London this week to participate in a test event for the Paralympic Games. Colliding on the court of the basketball arena, Per-Johan Uhlmann of Sweden and Aaron Phipps of Great Britain were taking part in the London Invitational Wheelchair Rugby Tournament. Between now and the start of [...]
Who’s bad? Tyson answers your questions April 19, 2012 IF you find the world of finance a little dog-eat-dog, who better to get some advice from than the one-time Baddest Man on the Planet, Mike Tyson? Iron Mike, the former undisputed world heavyweight champion turned Hollywood actor, will share his singular wisdom at the May Fair Hotel tomorrow night – and City A.M. has [...]
CBI warns UK’s tax system will drive firms out April 19, 2012 THE UK’S tax system is so complicated and expensive that it undermines economic growth and drives firms abroad, a leading business group said yesterday. Hitting back at allegations of firms dodging taxes and abusing the system, the Confederation of British Industry’s (CBI) report into tax argued firms pay a very large share of total government [...]
Business confidence hits a two year high as factories prosper April 19, 2012 BRITAIN looks likely to have escaped a double-dip recession as confidence surged in the first quarter of the year, according to survey data published yesterday. A separate study, out today, shows the number of distressed firms fell sharply over the three months led by the manufacturing sector. A net balance of 19 per cent of [...]
Investor worries slam Spanish stocks April 19, 2012 SPANISH stocks fell close to their lowest level in three years yesterday after the government’s borrowing costs jumped again on fears the deficit cannot be reduced successfully. The Spanish government successfully sold €2.5bn (£2.04bn) of debt, but the yield on 10-year bonds rose from 5.3 per cent at its previous auction to 5.7 per cent [...]
