AFREN CUTS PRODUCTION FORECAST July 20, 2011 Africa-focused oil and gas firm Afren has cut its 2011 production guidance by at least 25 per cent due to facilities stoppages, as it warned its output level at the year-end would be lower than previously forecast. The company, operating mainly in Nigeria, said it expected full-year production to average between 25,000 and 30,000 barrels [...]
CITY MOVES | WHO’S SWITCHING JOBS July 20, 2011 Hamptons International The property consultant has appointed Giles Maude (pictured) and Graham Jones to its development land team, reporting to head of land Simon Grier-Jones. Maude joins the firm’s Southern Home Counties division as an associate in the Esher office, and Jones will lead the Cotswold and West team as an associate director in Cheltenham. [...]
BEST OF THE BROKERS July 20, 2011 ROLLS ROYCE Goldman Sachs rates the engine maker a “buy” with an 850p target price on its conviction buy list, as it believes it is well placed compared to its peers and has strong long-term growth prospects. The stock has more defensive characteristics than many cyclicals and should outperform, GS believes. The soon-to-close Tognum acquisition [...]
Soaring tech stocks burnish banking rally to send FTSE up July 20, 2011 BANKING stocks led Britain’s top shares higher yesterday on strong corporate earnings and optimism over a deal in Washington to increase the US debt ceiling and avoid default. The UK benchmark index closed up 63.83 points, or 1.1 per cent, at 5,853.82, building on the previous session’s 0.7 per cent advance. Solid US earnings, including [...]
US shares pause on budget worries July 20, 2011 US stocks closed near unchanged yesterday, a day after Wall Street’s best rally since March, as the oncoming debt ceiling deadline overshadowed strong earnings from Apple. Apple hit another all-time high one day after the maker of the iPhone and iPad reported quarterly revenues that far exceeded expectations. The stock jumped 2.7 per cent to [...]
The market philosophy of Italy’s go-to fund manager July 20, 2011 FOR someone who runs a multi-million euro international investment group, Robert Tomei is a laid-back and affable man to sit down and talk to in the Connaught Hotel bar. Tomei’s Milan based international investment company has over €1bn of assets under management. As the group chairman, Tomei is responsible for the approval of every group [...]
Companies face forex risk on euro July 20, 2011 THE UK has a long history of having an outward looking economy and an ever-increasing number of companies are looking to garner profits abroad. But added to the regulatory and logistical problems of trading overseas, changes to the value of currencies can warp balance sheets. The volatility of the ongoing Eurozone crisis could present a [...]
The apps every foodie needs July 20, 2011 PIZZA EXPRESS Lanched a month ago, the high street chain’s new app could herald a no less than a change in the way we dine out. As well as expected functions like showing you the menu, telling you where your nearest Pizza Express can be found and enabling you to book a table, the app [...]
BOOKS: CHILDREN’S SUMMER READS July 20, 2011 PICTURE the scene: it’s quiet, the wind is playing with your hair, the birds are tweeting and you’re on your second margarita. This is not you and your partner alone on holiday: no, it’s the whole family sitting in peaceful, engrossed silence devouring your respective books. If this scene appeals, here are some suggestions for [...]
Top summer openings to keep you sated July 20, 2011 RECENT summertime openings are aiming to reinvigorate after-work drinking with masterful mixology, which is exemplified in Bishopsgate’s newest installation, The Drift at Heron Tower, from the same team behind The Folly and The Anthologist. Set over two massive floors with a sprawling bar on each and a secluded cabana overlooking Europe’s largest aquarium, The Drift [...]
