Desire draws blank in Falkland Islands December 6, 2010 OIL explorer Desire Petroleum has failed to strike oil in the Falklands Islands, days after it said it believed it had, denting hopes that the territory will become a major new oil province. The company said extra analysis of data from a key well in the British islands over which Argentina claims sovereignty did not [...]
Receding fears over Eurozone debt levels hand FTSE a boost December 6, 2010 BRITAIN’S top share index closed higher yesterday, buoyed by oil stocks after crude reached a two-year peak, while banks fell on fears over Eurozone debt as EU ministers met to discuss ways of preventing debt contagion. The FTSE 100 ended up 24.96 points, or 0.4 per cent, higher at 5,770.28, for its highest close since [...]
Bloomberg asks Foster to design its new London HQ at Walbrook Square December 6, 2010 BLOOMBERG, the financial media giant, yesterday said it had reached an agreement with Legal & General for the purchase of the Walbrook Square site to build a new European headquarters located in the heart of the City. Bloomberg will construct two new buildings, one that will contain in excess of 500,000 square feet and one [...]
Bernanke’s caution worries Wall Street December 6, 2010 US stocks ended little changed yesterday, held in check by worries about Europe’s debt crisis, which frustrated investors looking for a reason to take shares to new highs for the year. Germany rejected a call for Eurozone finance ministers to increase the size of a €750bn safety net for debt-stricken members. A decline in the [...]
Continental found guilty at Concorde crash trial in France December 6, 2010 A FRENCH court yesterday found Continental Airlines and a mechanic at the airline guilty of involuntary manslaughter for their part in the 2000 Concorde crash that spelled the end of the supersonic airliner. In a ruling that could affect the way planes are maintained and inspected, the court said the US airline and a welder [...]
Rolls wins energy deals December 6, 2010 Turbine maker Rolls-Royce has won new orders worth more than $110m (£69.9m) for energy projects in Europe, Africa, India and the Middle East. Rolls will deliver both power generation and pipeline transmission products and services. Oil group Total has ordered two RB211 gas turbine power generation systems to power an oil plant in the Middle [...]
3M snaps up Swiss tool firm December 6, 2010 Diversified US manufacturer 3M will buy Winterthur Technologies, a Swiss maker of grinding tools, for about $448m (£284.9m) in a move that will fill out its already sizable abrasives business. The deal is the latest in a string of nearly a dozen acquisitions this year for 3M, which has spent nearly $2.5bn in just the [...]
Bet on black: Oil prices discover fresh energy December 6, 2010 FOR a commodity used to grabbing the headlines, crude oil has been overshadowed by its cousins for much of 2010. Unlike copper, coffee or cotton, which have climbed steeply, oil remained entrenched in its trading range between $70 and $85 a barrel. Not any longer. Cold weather sweeping across Europe, strong energy demand from emerging [...]
Europe set to clamp down on dark pools December 6, 2010 TOP investment banks which offer their clients “dark pool” share trading platforms are facing an uphill battle to keep these trading venues outside the mainstream of market regulation. European regulators are set to publish a consultation paper tomorrow proposing controversial new rules to restrict the activities of the banks’ dark pools, which anonymously match large [...]
BTG Pactual raises $1.8bn December 6, 2010 BTG PACTUAL, the Brazilian securities firm controlled by billionaire Andre Esteves, raised $1.8bn (£1.1bn) yesterday from a group of international investors to bolster its balance sheet and help fund future expansion. Sao Paulo-based BTG Pactual sold an 18 per cent stake to some of the biggest sovereign wealth funds in Asia and the Middle East [...]
