Knight Frank agents form firm April 18, 2011 Three former Knight Frank agents and an ex-surveyor for the property firm have set up their own company, Companies House documents show. Agents Nigel Gillingham, Tracey Pollard and Woody Bruce, alongside surveyor Rupert Bentley Smith, are listed as the sole directors of Bruce Gillingham Pollard. The agents left Knight Frank last month and have already [...]
N&P slapped with £1.4m fine April 18, 2011 The FSA has fined mutually owned savings and loans company Norwich & Peterborough £1.4m for poor client advice on products sold by the failed Keydata company. The watchdog said in a statement yesterday that N&P has also agreed to set aside some £51m to pay out to customers in relation to the affair.
Desire hit as it fails to find Falklands oil April 18, 2011 OIL explorer Desire Petroleum yesterday admitted that it had not found oil at its latest well in the Falkland Islands and needs fresh funds for any further drilling, wiping over half the value from its shares. AIM-listed Desire’s shares tumbled 60.6 per cent to close at 15.75p yesterday, sending it to the bottom of the [...]
Kenmare is bullish as its losses narrow April 18, 2011 IRISH mining firm Kenmare Resources yesterday posted a narrower full-year loss yesterday, driven mainly by foreign exchange gains and stronger demand from Europe and Asia, and said it was on track to increase its production capacity by 50 per cent in 2012. The Dublin-based miner, which started work at the Moma titanium mineral mine in [...]
Tullow to sue Heritage in UK April 18, 2011 EXPLORER Tullow Oil is suing its former partner in Uganda, Heritage Oil, to recover $313m (£192.7m) that Tullow paid to cover tax on fields it bought from Heritage. Uganda said Heritage was liable for capital gains taxes on the sale, which the Jersey-based company, led by former mercenary boss Tony Buckingham, denies. Tullow paid the [...]
EnCore to spin off exploration April 18, 2011 BRITISH oil and gas explorer EnCore Oil has said it is spinning off its exploration assets into a new company as it focuses on its key projects in the UK North Sea. The new company, XEO Exploration, will be listed on the Alternative Investment Market (AIM)towards the end of May. EnCore’s exact percentage shareholding in [...]
EUROTUNNEL REVENUES JUMP AFTER ASH CHAOS April 18, 2011 GROUPE Eurotunnel’s first-quarter 2011 total revenues have risen to €179.2m (£157m), excluding insurance indemnities, a growth of 24 per cent compared with 2010. A Eurotunnel spokesman said that passenger numbers had stayed strong after increasing during last year’s ash cloud.
Philips seals China TV deal as profit slips April 18, 2011 PHILIPS is offloading part of its TV arm in the first step by new chief executive Frans van Houten to boost flagging profit at Europe’s biggest consumer electronics maker. Philips is moving its loss-making TV business into a joint venture with Hong-Kong based monitor maker TPV and has the option to sell out. The deal [...]
Alterian soars despite revision April 18, 2011 SHARES in marketing software provider Alterian surged over 17 per cent yesterday to close at 113p despite the firm saying its revenues would be lower than previously thought. The market was buoyed when the company, which counts AstraZeneca and Jaguar Land Rover among its customers, did not issue a third profit warning in a month [...]
France Tel and Deutsche Tel join forces to cut costs April 18, 2011 FRANCE Telecom and Deutsche Telekom plan to jointly buy network gear, mobiles and other information technology to save money, the two groups said yesterday. The project has the potential to save about €1.3bn (£798m) annually after three years — a little under €900m for France Telecom and around €400m for Deutsche, they said. The companies [...]
