Three fired as Apprentices enter final straight December 15, 2010 THE penultimate episode and the welcome return of a familiar face. For the interview challenge, Lord Sugar prised Margaret Mountford from her scrolls (she’s completing a Ph.D in Papyrology) to interrogate the final five. Her steely glare and raised eyebrow were as effective as ever, though other interviewers favoured a less subtle approach. “I’m going [...]
Wall Street drops three days in a row December 15, 2010 US stocks suffered a third straight late-day sell-off yesterday suggesting it may be difficult to chalk further gains as the year comes to a close. After hitting two-year highs this week, a sustained rise in Treasury yields has sparked worry that rising borrowing costs could stifle the recovery. Banks, heavily dependent on loan demand, faded [...]
JPMorgan buys Allen & Overy office from Hammerson venture December 15, 2010 JPMORGAN Asset Management has agreed to buy law firm Allen & Overy’s office on the Bishops Square site in a deal worth nearly £557m, joint sellers Hammerson and the Oman Investment Fund said yesterday. The 71,900 square foot office, which was developed and completed by Hammerson in 2005, was valued at £510m in June with [...]
Tullow starts production at first Ghanaian oil well December 15, 2010 UK oil explorer Tullow celebrated its first oil production in Ghana yesterday, which is set to propel the country into the top ten producers in sub-Saharan Africa. Ghanaian president John Atta Mills opened the valves at a televised ceremony to mark the nation’s first oil output, around 40 miles off the west African coast. Production [...]
Look closer to home to play the emerging markets’ story December 15, 2010 EMERGING markets have been one of the most popular trades of 2010. If it wasn’t concerns about the outlook for developed markets and the desire for higher returns further afield, it was Fed-fuelled liquidity that was driving flows towards the developing economies. The case for investing in equities rather than bonds is becoming stronger by [...]
Xcite suffers after hit by more delays at Bentley field December 15, 2010 AIM-listed oil explorer Xcite Energy said work at its Bentley field in the North Sea has been delayed again by poor weather conditions and technical glitches yesterday. The firm, which had hoped to start oil flow testing in the first week of December, said yesterday work will not begin until weather and operational conditions improve. [...]
BG Group strikes crude in first well off Chinese coast December 15, 2010 OIL company BG Group has struck oil-bearing sands off the Chinese coast at its first attempt, the firm said yesterday. The firm will now test the find in the South China Sea to assess potential for oil production. If viable hydrocarbons are found, the Chinese state-run oil company CNOOC has the right to buy up [...]
Former UBS banker in US tax fraud case December 15, 2010 FEDERAL prosecutors have charged a former UBS banker with encouraging his wealthy American clients not to disclose to US tax authorities they had money in offshore accounts. Renzo Gadola, an investment adviser based in Switzerland, faces charges of conspiracy to defraud the United States, the US attorney’s office in Miami said in a statement yesterday. [...]
Investments to fit your social views December 15, 2010 THE idea that you can change the world through what you buy has been around for a while now. In 1977, the Swiss food producer Nestle endured a boycott over claims its baby-milk products were killing children in third world countries. More recently, the “fair trade” movement has explicitly charged consumers a premium so as [...]
French Radio London gets funds from a City investor December 15, 2010 FRENCH Radio London, a new web-based French-language station, has attracted City investment from Thierry Baudon, a founding partner of private equity firm Mid Europa Partners. The station, which has been broadcasting for just four weeks, is designed to capture London’s 400,000 native French speakers as well as other Francophile listeners. Baudon will be a “substantial [...]
