Refinery fears overshadow Shell’s results February 3, 2011 ROYAL Dutch Shell disappointed markets yesterday despite posting fourth-quarter earnings of $5.7bn (£3.5bn). The firm made $18.6bn during 2010, an increase of 90 per cent on last year when the effects of inventory changes are stripped out. But Shell’s UK-listed shares closed down three per cent to £22 in trading yesterday, with analysts expressing concern [...]
How the enigmatic Bramson won investors’ trust February 3, 2011 SHAREHOLDERS’ decision to put Sherborne Investors in charge of F&C Asset Management’s board yesterday resolved six months of tension. The question now is whether new chairman Edward Bramson can relieve the uncertainty that has dogged F&C for years. Bramson, who made a rare public appearance at yesterday’s meeting, is an enigmatic figure who has remained [...]
ANALYST VIEWS: SHOULD INVESTORS BE SPOOKED BY SHELL’S RESULTS? February 3, 2011 MICK GILLIGAN | KILLIK & CO The short term is negative, although the long-term picture is positive. A plus point would be where Shell’s assets are situated and a shift in their focus towards Asia. CHRISTINE TISCARENO | S&P The share price was getting carried away and now people are profit-taking. Investors switched from BP [...]
Moody’s profits rise 35 per cent February 3, 2011 Rating company Moody’s posted a higher-than-expected quarterly profit yesterday and gave a favourable outlook for 2011 as its ratings business benefited from the uptick in debt issuance. Profit climbed 35 per cent to $137.4m (£85.2m) on quarterly revenue up 16 per cent to $564.3m. Moody’s said its ratings picked up broadly in the fourth quarter, [...]
CBRE sees gains in US property February 3, 2011 CB Richard Ellis (CBRE), one of the largest property services firms, said fourth-quarter adjusted profit grew 34 per cent, underscoring the rebound in commercial real estate. The firm posted earnings of $115.4m (£71.5m) for the last three months of 2010, up 34 per cent on a year ago. Revenue rose 27 per cent to $1.65bn, [...]
HMV investor mulls break-up February 3, 2011 A major investor in struggling retailer HMV Group has hired Credit Suisse to advise on the options for the firm, which could include a break-up of its HMV and Waterstone’s brands, according to Sky News. Alexander Mamut, a Russian billionaire with a 6.1 per cent stake in HMV, is in the first stages of assessing [...]
Sky may lose out in Pub TV football case February 3, 2011 THE Premier League’s battle with a Portsmouth-based publican suffered a major setback yesterday. A senior advocate from the European Court of Justice (ECJ) threw her weight behind landlady Karen Murphy in a landmark case, paving the way for a decision that could change the landscape of sports distribution rights in Europe and cost Sky £70m [...]
US Embassy attracts £250m property scheme to Vauxhall February 3, 2011 TWO skyscrapers are being planned for Vauxhall, as developer CLS hopes to cash in on the multi-billion pound regeneration in the area. CLS aims to submit planning permission in late 2011 for two mixed-use towers of over 40 storeys at the Vauxhall Cross site, which is opposite Vauxhall Tube station and close to the new [...]
John Wood eyes unit sale February 3, 2011 ENERGY services firm John Wood Group yesterday said it was looking into the possible sale of its well support unit, which helps energy companies improve production rates and recovery from oil and gas wells. Sources said the company had put the division on the block and had hired Credit Suisse to advise on the sale. [...]
NEST names its fund managers February 3, 2011 THE new national pension scheme said it has appointed UBS, State Street and BlackRock to run five investment mandates likely to be worth billions of pounds. The National Employment Savings Trust (NEST) said UBS Global Asset Management will run an equity mandate, State Street will run two bond funds while BlackRock will take charge of [...]
