Entertainment One gets some takeover interest September 13, 2011 ENTERTAINMENT One has hired banks to help it field takeover interest, two sources told City A.M. yesterday. The firm behind the Scream 4 film and the Peppa Pig children’s television show is expected to announce the interest to the stock market as soon as this morning. The group is understood to have asked JP Morgan [...]
How well are the Liberal Democrats performing as part of the coalition? September 13, 2011 This week, we are asking members of our City A.M. readers’ panel, run with PoliticsHome, how they rate Nick Clegg’s Liberal Democrats ahead of the party conference season. As the Lib Dems gear up for their conference in Birmingham, starting on Saturday, we want to take the temperature of the junior coalition partner. How has [...]
Cairn slumps on Greenland well setback September 13, 2011 SHARES in Cairn Energy fell as much as nine per cent yesterday after the company said that its latest well off the coast of Greenland had failed to find oil. The FTSE 100-listed oil and gas explorer said it was preparing to plug and abandon the Gamma-1 offshore well, disappointing investors looking to the company to [...]
Australian PM sets out her controversial carbon tax bill September 13, 2011 AUSTRALIAN Prime Minister Julia Gillard introduced her government’s controversial carbon tax plans to parliament yesterday, despite heated opposition from the country’s conservatives. The deeply divisive levy, due to be voted on next month, will force around 500 of Australia’s most polluting companies to pay A$23 (£15) for each tonne of carbon they emit from July [...]
ANALYST VIEWS: WHAT’S THE OUTLOOK FOR CAIRN NOW? September 13, 2011 RICHARD GRIFFITH | EVOLUTION SECURITIES Cairn remains a buy on valuation grounds (underpinned by its remaining stake in Cairn India), but it looks increasingly unlikely that the expensive Greenland drilling programme will prove to be the hoped-for exploration bonanza. CHRIS ALEXANDER | BNP PARIBAS Net asset value (NAV) drops to around 300p against the current [...]
Investors wary as Healthcare Locums shares rejoin market September 13, 2011 HEALTHCARE Locums rejoined London’s Alternative Investment Market (AIM) yesterday after almost nine months suspended, but its share price crashed as investors stayed wary on the stock. The shares listed at 10p, the same price HCL’s biggest shareholders paid for a huge new tranche of equity issued to raise £60m to refinance it. Shares traded at [...]
Ashmore will focus on EM September 13, 2011 BRITISH fund manager Ashmore Group said clients were sticking with emerging markets and it planned to boost its presence in Latin America and Asia to latch on to the region’s growing middle class. Ashmore reported a 13 per cent rise in full-year pre-tax profit to £246m yesterday, in line with the £245m forecast by Oriel [...]
Fund manager Charlemagne sees lower management fee outlook September 13, 2011 EMERGING market equity manager Charlemagne Capital’s first-half pretax profit has more than halved, mainly due to a weak performance in North America and Europe, and the company said it expected management fees to be even lower in the second half. Charlemagne, which manages mutual and hedge funds investing in Africa, Asia and Latin America, said [...]
JON LITTLE JOINS BOARD OF JUPITER September 13, 2011 ASSET management stalwart Jon Little has joined the board of Jupiter Asset Management, the fund run by Edward Bonham-Carter. Little founded Northill Capital with partners Jeremy Bassil and Rick Potter in November 2010, with financial backing from the Swiss-Italian Bertarelli dynasty. Little was previously head of BNY Mellon Asset Management, and was a member of BNY [...]
Travelodge in revenue boost despite riots September 13, 2011 BUDGET hotel chain Travelodge yesterday reported a rise in revenues even though riots across London cost the firm £1m in lost sales and cancellations. Revenues from its 480 hotels were up 15 per cent in June, July and August. The firm cut prices by five per cent, taking the average room rate down to £42. [...]
