BP to develop gas fields in Azerbaijan October 6, 2010 BP is expected to close a deal with Azerbaijan’s national oil company today to explore and develop a huge natural-gas field in the Caspian Sea. The field, Shafag-Asiman, has estimated reserves of 17 trillion cubic feet, according to the State Oil Company of the Azerbaijan Republic (Socar). If confirmed, that would make it almost as [...]
Owners may yet halt deal October 6, 2010 LIVERPOOL’S sale to American group New England Sports Ventures could be delayed or even derailed by a legal challenge from current owners Tom Hicks and George Gillett, sports business experts warned last night. Reds chairman Martin Broughton is adamant the board has the right to sell the club to John Henry’s NESV for £300m, even [...]
Ireland rating slashed as its misery grows October 6, 2010 Ireland’s economic turmoil continued yesterday as Fitch cut its credit rating. The news came a day after Moody’s said it was considering downgrading Ireland, driving up the nation’s borrowing costs. The decision heaps further pressure on a government saddled with a debt pile set to hit a staggering €155bn (£136bn) this year – equivalent to [...]
US wades into hedge fund tussle in Europe October 6, 2010 US TREASURY secretary Tim Geithner has warned the French economy minister Christine Lagarde that curbing foreign hedge funds in Europe could cause a rift between the continent at the US government. In a letter, sent late on Tuesday and seen by journalists, Geithner increases pressure on Paris to allow concessions on new European controls for [...]
EMEA investment banking fees lag peers across globe October 6, 2010 INVESTMENT banking fees in Europe, the Middle East and Africa (EMEA) slipped far behind the rest of the world over the first three quarters of the year, with the region’s banks taking a 15.2 per cent cut in fees in comparison to an 8.7 per cent global increase. Globally, the fee income pool for investment [...]
Henry: Self-made millionaire who brought Red Sox glory October 6, 2010 PROSPECTIVE Liverpool owner John W Henry knows what it takes to revive the dwindling fortunes of a world famous sporting name, having done as much with Boston Red Sox. Henry, 61, and his holding company New England Sports Ventures took control of the baseball franchise in 2002 and by 2004 had ended their 84-year wait [...]
Betfair investors agree IPO range of up to £14 per share October 6, 2010 BETFAIR will announce its plan to float on the Stock Exchange today after a meeting of the company’s 700 shareholders voted in favour of an initial public offering (IPO) at a meeting last night. City A.M. understands the price range will be between £11 and £14 per share, valuing the company at between £1.16bn and [...]
BA, AA and Iberia name tie-up routes October 6, 2010 British Airways, American Airlines, and Spain’s Iberia unveiled four new routes and promised passengers lower prices and flight flexibility as they launched an $8bn (£5bn) transatlantic joint business yesterday. The trio are strengthening their existing oneworld alliance ties — but stopping short of a full financial merger because of strict US laws that bar foreign [...]
DEUTSCHE MAN JOINS GOVERNMENT TEAM October 6, 2010 Anthony Odgers, a senior member of the corporate restructuring team at Deutsche Bank, has joined the body responsible for looking after the government’s assets, the Shareholder Executive, as it steps up efforts to find buyers for assets including the Tote, Royal Mail and the Student Loans portfolio. He joined Deutsche Bank in May 2007 as [...]
Premier League chiefs and Carragher set to give takeover the green light October 6, 2010 THE proposed takeover of Liverpool could be granted approval as early as Friday, the Premier League confirmed last night. A £300m offer to buy the club from New England Sports Ventures (NESV) – principally owned by Boston Red Sox chief John W Henry – was accepted by the Liverpool board of directors yesterday despite strong [...]
