Cove bids back on after tax spat April 10, 2012 Bids for oil and gas company Cove Energy are set to recommence after authorities in Mozambique cleared up uncertainties over tax. Cove, whose major operations are in Mozambique, put itself up for sale in January, attracting suitors including Royal Dutch Shell and Thailand’s PTT Exploration. But the process stalled after Mozambique said any deal would [...]
EDF restarts nuclear plants April 10, 2012 EDF Energy, the UK’s biggest atomic power producer, yesterday resumed output from two nuclear plants, bringing 1,200 megawatts of potential generation capacity back on to the grid. EDF said its 600MW Sizewell B1 reactor returned to service several days ahead of schedule on Sunday after shutting down on 2 March. The company’s 620MW Hartlepool 1 [...]
Hargreaves seals refinancing April 10, 2012 Energy company Hargreaves Services has re-financed its core UK banking facilities and increased them from £115m to £175m. The firm’s facilities are made up of a £125m revolving credit facility and a £50m invoice finance facility. The deal to extend the debt to 2015 has been done with a five bank syndicate that includes RBS, [...]
No life of luxury for the City IPO market April 10, 2012 When it comes to the flotation of luxury goods companies these days, bankers are fast getting in the habit of avoiding London. Hence, when the London-based private equity group Doughty Hanson and other shareholders revealed they were set to sell shares in Tumi, the premium travel bag company, it came as little surprise that the [...]
GET CLOSE TO BEN AINSLIE April 10, 2012 There’s a chance for Capitalist readers to meet Ben Ainslie, three times Olympic champion in sailing. Ainslie will be launching a new collection of Corum’s watches at Fraser Hart jewellers, One New Change, tomorrow from 6pm. Ainslie is aiming for his fourth successive gold at this summer’s Olympics and you can hear him talk about [...]
Warm weather aided UK retail sales in March April 10, 2012 RETAIL sales continued to recover in March, after the warm weather encouraged consumers to hit the high street for seasonal merchandise, according to industry figures published today. The latest monthly survey from the British Retail Consortium (BRC) showed that total retail sales rose 3.6 per cent in March from the same month last year, and [...]
Given takes up her new role at SuperGroup April 10, 2012 RETAIL veteran Susanne Given took up the newly created role of chief operating officer at SuperGroup yesterday as the fashion house looks to strengthen its management team and boost its presence overseas. The owner of the Superdry fashion label has had a turbulent stock market performance since its successful flotation in 2010. It has been [...]
RAF SIMONS STEPS INTO GALLIANO’S DIOR SHOES April 10, 2012 DUTCH designer Raf Simons will this morning take over as artistic director of fashion label Christian Dior. His appointment ends months of speculation over who would replace disgraced ex-designer John Galliano at the helm of the French fashion house, after Galliano was fired last May following anti-semitic comments he made in a bar.
Kingfisher’s last call on all of its overseas flights April 10, 2012 KINGFISHER Airlines made its last international flights yesterday as it closed overseas operations amid ballooning debts. The airline, chaired by liquor tycoon Vijay Mallya, said last month it was scrapping routes including its London flights as it tries to avoid bankruptcy. The firm has not made a profit since launching in 2005. It managed to [...]
Flybe cutting costs to get back on track after profit warnings April 10, 2012 REGIONAL airline Flybe remains on course in spite of market turbulence, it said in a trading update yesterday. The firm, which made its third profit warning of the financial year in January, said moves to cut costs and boost revenues per seat have helped it steady its position in the first quarter of 2012. It [...]
