CITY MOVES | WHO’S SWITCHING JOBS April 4, 2011 Stamford Associates The investment consultant has appointed Sir Mark Weinberg as senior adviser, with the aim of expanding Stamford Associates’ investment strengths and expanding its pool of institutional investors. As the founder of life insurance provider Abbey Life, Weinberg will bring 40 years’ business and investment experience to the firm. He is also the chairman [...]
STAMPS IN RECORD PRICE RISE April 4, 2011 A RECORD rise in UK postage prices has come into force – with a first-class stamp now costing 46p. That amounts to a 5p rise in the cost of sending standard letters weighing up to 100g by first-class post. Royal Mail has also increased the cost of a second-class stamp by 4p to 36p. A [...]
Valiant plans acquisitions in 2011 April 4, 2011 Valiant Petroleum said it planned to strengthen its exploration portfolio in the UK North Sea through farm-in agreements and acquisitions, after it posted a higher profit and raised its production forecast for 2011. January to December pre-tax profit was $51.6m (£32m), compared with $10.5m last year.
Energees directors join Regal April 4, 2011 Regal Petroleum has appointed directors of Energees Investments to its board after agreeing to a takeover offer from Energees in February. Alexey Pertin and Denis Rudev follow Oleksii Tymofieiev onto the board of the Aim-listed gas producer, completing the three board members that Energees can nominate to be appointed to the Regal board as part [...]
BG Group finds Tanzanian gas April 4, 2011 BG Group has announced a third Tanzanian gas discovery with the Chaza-1 well, located approximately 18 kilometres offshore southern Tanzania in a water depth of around 950 metres. The discovery is 200 kilometres south of BG Group’s recent Pweza and Chewa discoveries.
Flight insurance on the rise April 4, 2011 Airline industry predictions of a passenger increase in 2011 combined with fleet investment has led to a four per cent jump in insurance premiums, says Aon Risk Solutions. Passenger forecasts for 2010-11 have picked up in every region of the world including a likely 12 per cent improvement in the Asia Pacific region.
BEST OF THE BROKERS April 4, 2011 SERCO Morgan Stanley rates the outsourcing group “equal-weight” with a target price of 650p. The broker is disappointed by the small number of work and pensions contracts the firm picked up last week, and expects Serco’s revenues from welfare-to-work programmes to drop in the second-half of the year. While the impact on overall forecasts will [...]
Commodities send FTSE 100 up to six-week high April 4, 2011 STRENGTH from commodity stocks helped Britain’s top shares inch up to its highest close in six weeks yesterday, but trading was light and investors were sceptial about prospects for further gains. The FTSE 100 closed up 7.06 points, or 0.1 per cent, at 6,016.98, adding to the six-week closing high seen on Friday after solid [...]
Wall Street fails to make progress on low volumes April 4, 2011 THE S&P 500 met tough resistance yesterday, failing to break a level that has held since mid-February even as a spate of deals and underlying strength in the economy spurred optimism. But caution ahead of earnings season held volume to its lowest level this year and suggested the recent rally may be fading. The benchmark [...]
Cuts and consequences April 4, 2011 IN WESTMINSTER, “the markets” are increasingly attributed sentience and an opinion on the world around them. In the lower chamber, we hear much pontificating on “what the markets want”. Traders in contracts for difference (CFDs) may want to ask the opposite question: if the deficit is not brought under control, or maybe more importantly, is [...]
