CITY VIEWS: DO YOU THINK THE CONTRACT SHOULD HAVE GONE TO BOMBARDIER? July 5, 2011 STEVE GOODRICH | CLARKSON “I would say no because discouraging overseas firms from working here would be detrimental to our economy. If we don’t allow for companies to compete we are turning away investment in our country.” MARK ARGENTIERI | ALLIANZ “No, I think it should be a free market and all companies should be [...]
TPG to take Immucor private July 5, 2011 Private equity group TPG Capital will take US diagnostics firm Immucor private in a near $2bn deal that could give the company’s niche blood-testing products a more global profile. Immucor has been seen as a potential target because of its unique technology that automates the identification of blood types – a process that was earlier [...]
Sweden raises its interest rates July 5, 2011 Sweden’s central bank raised its repo rate by 0.25 per cent to two per cent yesterday. The bank’s expected rate path was practically unchanged. Two more hikes are expected this year, Citigroup said in a note.
Resolution to close offices July 5, 2011 Insurance takeover specialist Resolution is to close two offices, affecting 295 jobs, as it integrates the three acquisitions it has made since it launched in 2008. The offices in Basingstoke and Manchester will shut by the end of 2012 as part of Resolution’s efforts to consolidate Friends Provident, Axa’s UK life business, and niche life [...]
Exxon oil spill causes worry July 5, 2011 Environmental officials scrambled yesterday to assess the extent of contamination from a recent oil spill along the Yellowstone River in Montana. An Exxon Mobil pipeline ruptured on Friday night about 150 miles downstream from Yellowstone National Park, dumping up to 42,000 gallons of crude oil into the flood-swollen river.
Africa helps boost Tullow Oil revenue July 5, 2011 TULLOW OIL said it expected to post record revenues of $1.05bn (£0.65bn) for the first half of the year as it ramps up output in Africa. Higher oil prices and steady production at its Jubilee Field in Ghana will help boost the firm’s first-half revenues, the FTSE 100 oil and gas explorer said in a [...]
Brazil threatens a fresh currency war July 5, 2011 BRAZIL will continue to act to curb the strength of its currency, in a possible return to nationalist posturing over currency values not seen since last year. Speaking at a conference in London yesterday, the country’s finance minister Guido Mantega said he could restrain excess speculation in the futures and derivatives markets in order to [...]
ANALYST VIEWS: IS TULLOW’S PERFORMANCE ON TRACK? July 5, 2011 ANGUS MCPHAIL | INVESTEC First results are in line with consensus. Revenues, capex, debt and production are all in line. Exploration and appraisal are on track with a 79 per cent success rate pointing to a prolifically successful explorer. HOOTAN YAZHARI | BANK OF AMERICA MERRILL LYNCH On the financial front Tullow remains solid. The [...]
Shanks chief quits to work closer to home July 5, 2011 BRITISH waste management firm Shanks Group said yesterday that its chief executive Tom Drury had decided to leave the company by the end of October to pursue other interests. Drury will join Manchester-based private company, Arrow Global, as chief executive and will become a shareholder in that business, Shanks said. “Tom Drury has decided to [...]
BofA investors plot challenge over pay out July 5, 2011 A GROUP of bondholders in Bank of America plan to challenge the lender’s $8.5bn (£5.2bn) settlement with holders in soured mortgage-backed securities. Eleven companies, known together as Walnut Place, filed papers in the New York Supreme Court in a bid to overturn the payment. They say they have “serious concerns about the secret, non-adversarial, and [...]
