Keystone in lift from Kurdistan November 8, 2011 OIL and gas explorer Gulf Keystone Petroleum yesterday raised its estimates for reserves at its Shaikan prospect in Kurdistan. It is estimated that the site holds up to 13.4bn barrels of oil, up from the previous prediction of 10.8bn barrels. Shares in the company went up eight per cent after the announcement. Evolution Securities analyst [...]
Greenland oil trace for Cairn November 8, 2011 CAIRN Energy yesterday gave a positive update on one of its exploration wells in Greenland after disappointing drilling results so far this year. The FTSE-100 company found signs of oil and gas at the AT7-1 well, although it has been unable to evaluate the results fully because of difficult operating conditions. The company’s first three [...]
Sugar arm is sweet spot for AB Foods November 8, 2011 RECORD profits at Associated British Foods’ (ABF) sugar arm have helped offset weaker results at its discount-clothing chain Primark, which was hit after the group chose not to pass the rise in cotton prices onto shoppers. Primark’s profits slumped by eight per cent to £309m in the year to 17 September, after its operating profit [...]
Banks have seen a $54bn hit from monoline exposures since 2007 November 8, 2011 US BANKS have written down $54bn (£33.5bn) in losses resulting from their exposure to monoline insurers over the past four years, according to new data released by the International Swaps and Derivatives Association (Isda) yesterday. The trade body for the over-the-counter derivatives market said that losses were greater than a figure of $2.7bn given by [...]
CITY MOVES | WHO’S SWITCHING JOBS November 8, 2011 Cushman & Wakefield The property consultant has appointed business consulting real estate executive Neil McLocklin as a partner and head of its EMEA business consulting group, based in London. He joins from Capita Symonds, where he was director of consultancy and advisory services. In addition, Elizaveta Shaforostova will transfer to the London team from C&M’s [...]
Vacancy rate drops at Segro November 8, 2011 British industrial landlord Segro said it had a strong third quarter, with annualised rental income rising, and it remained well placed for the current environment. Segro secured £11.9m of new annualised rental income in the three months to end-September, up from £9.5m in the 2010 period. Its vacancy rate dropped to 10.2 per cent, from [...]
Capco riding out tough economy November 8, 2011 Landlord Capital & Counties Properties said yesterday that its businesses had performed well over the summer, despite the challenging economic backdrop. The company said occupancy at Covent Garden is strong, and that planning for the development of the Earls Court & West Kensington Opportunity Area was progressing well. Capco said it was confident it could continue [...]
Spurs ponder legal action over OPLC spying claims November 8, 2011 TOTTENHAM chiefs were last night considering taking legal action after they were accused of systematic and widespread spying on all 14 of the men and women who decide the fate of the Olympic Stadium. On an extraordinary day of developments in the long-running row over the fate of the new London 2012 arena, the chair [...]
Terry won’t be affected by race row, says Pallister November 8, 2011 FORMER England defender Gary Pallister believes John Terry will have no trouble asserting himself as the Three Lions skipper if he is asked to lead the side in the next few days, despite the cloud of ongoing Football Association (FA) and police investigations hanging over him. Terry is yet to learn his fate after the FA [...]
Fresh fears over Woods caddie clash in Australia November 8, 2011 FEARS that bad feeling between Tiger Woods and former caddie Steve Williams could spill over at the Australian Open were revived yesterday when they were allotted to consecutive playing groups for the tournament. Organisers had promised to keep the men apart at this week’s event, after Williams sparked outrage and was forced to apologise for [...]
