Pru says one in six have no pension April 3, 2012 One in six people (16 per cent) planning to retire this year have no private pension and will depend entirely on the state, research from Prudential revealed today. The Class of 2012 research shows the average person planning to retire this year will look to the government for 34 per cent of their income, with [...]
Debt issuance up 69 per cent at start of 2012 April 3, 2012 GLOBAL debt capital markets (DCM) activity totalled $1.7 trillion (£1.06 trillion) in the first three months of 2012, a 69 per cent increase on the fourth quarter of 2011, according to figures from data supplier Thomson Reuters. Their report shows that early 2012 was the most successful quarter for debt issuance in three years. Financials [...]
Cobra Holdings shares tank as it enters talks April 3, 2012 SHARES in insurance broker Cobra Holdings plunged by nearly a fifth yesterday after it said it is in talks with two suitors. The firm, which said last month that restructuring costs would hit annual profits, is now co-operating with potential bidders Alto Intermediary, a vehicle set up by Cobra chief executive Stephen Burrows, and Towergate [...]
Cairn to pay $450m for Agora in a move away from Greenland April 3, 2012 OIL explorer Cairn Energy said yesterday it would buy Agora Oil & Gas for $450m (£280.7m) to increase its drilling activity in Britain and Norway in 2012. The deal marks the first step in Cairn’s strategy, outlined last month, aimed at reducing its exposure to exploration in Greenland, where most of its assets are located. [...]
ADVISERS ROTHSCHILD April 3, 2012 James Smith, director of the oil and gas team at Rothschild, is leading the team on the deal for Cairn. He joined the company in 2008, and his expertise is mainly in M&A deals involving energy and fossil fuels, having worked for the global oil and gas advisory boutique Harrison Lovegrove and for Merrill Lynch [...]
Gulfsands to focus on plans outside Syria April 3, 2012 SHARES in Gulfsands Petroleum fell almost five per cent yesterday as the firm said it was looking away from war-torn Syria to expand its business. The Aim-listed company, whose shares have fallen from a peak of 400p to just 146.5p since the start of last year’s revolutions across northern Africa, stressed that it will hold [...]
ANALYST VIEWS WHAT IS THE OULOOK FOR GULFSANDS? April 3, 2012 DOUGIE YOUNGSON SEYMOUR PIERCE We continue to highlight the company’s progressive management and robust asset base, and feel the company’s share price represents clear value to investors at its current level. In the event of a political resolution in Syria, we expect Gulfsands to return to previous trading levels. SIMON HAWKINS SINGER In our mid [...]
Total to send crisis team to Elgin April 3, 2012 France’s Total plans to send a team of experts today or tomorrow to assess the steps needed to stop a large and potentially explosive gas leak at its Elgin platform in the North Sea, a spokesman said yesterday. Helicopter flights resumed carrying crews to oil and gas rigs yesterday afternoon, although with protracted delays, after [...]
Heritage gets good news in Iraq April 3, 2012 Shares in Heritage Oil jumped more than 10 per cent to 152.3p yesterday after it revealed better than expected gas deposits at its Mirian well in the Kurdistan region of Iraq. The firm said it plans to drill further after discovering a new gas reservoir within the region that had not shown up in its [...]
Lonrho and EasyGroup open hotel April 3, 2012 Lonrho and EasyGroup are opening the first African easyHotel in Johannesburg, the firms said yesterday. Platinum miner Lonrho, which is also working with EasyGroup on a low-cost airline in Africa, said it hopes to open some 50 hotels over the next four years.
