Exillon investor wants change in the boardroom January 13, 2013 A MAJOR investor in FTSE-listed oil explorer Exillon Energy has demanded the removal of the firm’s chairman as it looks to turn around a slide in the firm’s share price. Worldview Capital Management wrote to Exillon at the weekend to call for an extraordinary general meeting and three new board members. The shareholder, which has [...]
Anglo American poised to cut jobs across platinum business January 13, 2013 THE world’s largest platinum producer Anglo American is eyeing plans to slash costs at its South African mines as it prepares to unveil a long-awaited report into the future of its platinum business. The FTSE 100 firm owns 80 per cent of South African miner Anglo American Platinum (Amplats), which it placed under review last [...]
Rothschild to pursue his Bumi plan despite fresh opposition January 13, 2013 SOURCES close to the camp of Bumi co-founder Nat Rothschild yesterday played down suggestions he would fail to wrest control of the firm after a senior board member called into question his planned board overhaul. Rothschild is hoping to replace Bumi’s directors and take control of the company from major shareholder, the Bakrie family. Bumi’s [...]
Cuadrilla mulls future investor growth plans January 13, 2013 CUADRILLA Resources, the Staffordshire based shale gas explorer, is in talks with potential investors over taking a potential stake in the business amid growing investment interest in the UK shale gas sector. The company, currently the sole driller for shale gas in the UK using hydraulic fracturing or fracking, is understood to be holding talks [...]
Northcote starts trading on AIM after Shore Capital share placing January 13, 2013 OIL and gas producer Northcote will list on the junior stock market today, following a placing by Shore Capital. Northcote, which will trade under the ticker NCT, will be focused on onshore projects in the US, primarily in the Mississippi Lime formation in Oklahoma, which the firm said has net proven reserves of 661,000 barrels [...]
US expansion boosts growth at LK Bennett January 13, 2013 LK BENNETT, the upmarket womenswear brand, reported a 15 jump in full year turnover yesterday driven by its expansion into the US market and soaring online sales. The retailer, which unveiled Bond girl Rosamund Pike as the new face of its brand last week, said turnover increased by 15 per cent to £94.1m in the [...]
Net-A-Porter posts a £27m loss despite jump in full-year sales January 13, 2013 NET-A-Porter, the luxury online retailer, swung to a loss last year after investing heavily in its expansion, despite seeing sales soar by 55 per cent. The group, which is owned by Swiss luxury conglomerate Richemont, made a £27m loss in the year to 31 March 2012 compared with a 5.2m profit the previous year. According [...]
Subway fights for sandwich tax equality January 13, 2013 FAST food chain Subway is preparing to recommence battle with HM Revenue & Customs over the decision to charge VAT on toasted sandwiches, in a move that could reheat the furious row that surrounded last year’s pasty tax. The company has won the right to take a test case to the Court of Appeal, despite [...]
VW sales rise to record in 2012 January 13, 2013 GERMANY’S Volkswagen said yesterday that group sales rose 11.2 per cent last year to a record 9.07m vehicles, powered by demand from China and the US. Global sales by the German group in December surged 20.7 per cent to 784,300 cars, the firm said in a statement in Detroit ahead of the North American auto [...]
Baugur chief to burger king January 13, 2013 Former Baugur chief Jon Asgeir Johannesson has re-emerged on the UK investment landscape – as an angel investor in an artisan beef burger maker. Johannesson, who led investments in some of the UK’s biggest high street names before the financial crash, has taken a 25 per cent stake in Muddy Boots Real Foods, a family [...]
