Boeing submits refuelling tender February 10, 2011 Boeing said yesterday it submitted its final proposal to capture US refuelling aircraft orders valued at up to $50bn (£31bn). Boeing and European rival EADS, the parent of Airbus, had been asked to submit their final proposal revisions by 11 February.
Danske Bank plans £2.3bn rights offer February 10, 2011 DANISH lender Danske Bank said it would raise 20bn crowns ($3.7 bn) in new capital as it posted fourth-quarter profits below market consensus, as loan impairments remained high. The bank reported a 12 per cent rise in fourth-quarter pre-tax profits to 1.45bn crowns, aided by a 40 per cent drop in loan losses, but missing [...]
PetroChina invests £3.4bn in Encana February 10, 2011 PETROCHINA is buying half of a prolific shale gas project from Canada’s Encana for C$5.4bn (£3.4bn), marking the largest Chinese investment yet in a foreign natural gas asset. Chinese companies such as PetroChina and CNOOC have been scouring globally for unconventional gas assets to reduce reliance on coal and satisfy its energy hunger to fuel [...]
RENAULT CONFIRMS PLANS FOR GROWTH February 10, 2011 FRENCH carmaker Renault said yesterday it would target an operating margin above five per cent of sales in 2013 as part of a long-awaited six-year strategic plan for growth. Renault said 2010 net profit reached €3.42bn (£2.9bn), compared with a net loss of €3.13bn in 2009.
Snam Rete Gas beats forecasts February 10, 2011 Italian gas grid operator Snam Rete Gas beat forecasts on its 2010 dividend and operating profit yesterday, sending its shares to a near four-year high. Continental Europe’s biggest regulated gas operator raised its dividend 15 per cent to €0.23 per share after posting a 17 per cent rise in operating profit to €1.86bn euros (£1.6bn), [...]
Profit warning hits Air France February 10, 2011 Shares in Air France fell to their lowest level since October, dragging the sector more than one per cent lower. At mid-session it was down 7.1 per cent at €12.65 with more than three per cent of its capital having traded. Air France-KLM has said it would miss its target for operating profit of €300m [...]
Mondi expects earnings to rise February 10, 2011 Paper and packaging firm Mondi said underlying operating profit for the year ended 31 December 2010 is expected to be considerably higher than the same time a year earlier. The group, listed in London and Johannesburg, said it expects basic underlying earnings per share for the year to be in the range of 44-49 cents [...]
FORCES, FOOD AND FINANCE February 10, 2011 YESTERDAY at the Square Mile Salute fundraising banquet, Boris Johnson said: “There are three things I want to share my appreciation for tonight, one – my appreciation for the armed forces, two – for Britain’s financial services and three – food.” The audience of the City’s finest chuckled while a fleet of waiters sailed round [...]
FTSE falls due to poor results as banks and miners weigh February 10, 2011 Disappointing corporate results crimped confidence on the outlook for risk-sensitive banks and miners, pushing Britain’s top share index lower by yesterday’s close. Diageo shed 4.6 per cent as half-year results from the world’s biggest spirits group missed forecasts, prompting broker Espirito Santo to downgrade its rating to “hold”. International Consolidated Airline Group was also sharply [...]
S&P climbs after Mubarak delegates February 10, 2011 The S&P and Nasdaq eked outgains in the final minutes of trading yesterday as Egyptian President Hosni Mubarak said he would delegate powers to the vice president. Weakness in Cisco Systems brought the Dow’s eight-day rally to an end after the network equipment maker gave a weak outlook. The S&P and Nasdaq wavered in volatile [...]
