Shell expects Chesapeake boost November 29, 2012 Royal Dutch Shell expects “years and years” of production from oil and natural gas acreage it recently bought from Chesapeake Energy and plans to add more drilling rigs, the head of Shell’s Americas operations said yesterday. Shell paid $1.94bn last September for 618,000 acres in the Permian Basin, a vast source of oil and natural [...]
Popular West End lifts profits at Shaftesbury November 29, 2012 SHAFTESBURY’s fortress of West End properties helped the landlord post a glowing set of full year results yesterday, in what it called an “exceptionally” busy year for London. The FTSE 250 company’s net asset value rose by 7.6 per cent to 498p a share in the year to 30 September, driven by a boost in [...]
Waste management business weighs on Pennon’s first-half November 29, 2012 UTILITIES company Pennon Group yesterday reported a drop in profits at its recession-hit waste management unit, as warned earlier this month, and said it did not see a recovery in prices for recycled materials in the near future. Pre-tax profit at waste management business Viridor fell over 30 per cent in the six months to [...]
Pub chain Marston’s sees hope in food sales but swings to loss November 29, 2012 PUB chain Marston’s said it had got off to a good start to its new financial year, but reported an annual loss yesterday owing to an impairment charge on its taverns. The owner of more than 2,000 pubs, including the Pitcher and Piano chain, said trading in October and November had improved on last year. [...]
British Land buys new site November 29, 2012 BRITISH Land yesterday said it has acquired the 2.3-acre Canal Corridor North site in Lancaster city centre that includes the former Mitchell’s of Lancaster brewery. The property giant is also in talks with Lancaster City Council to buy its adjoining land to build a retail-led scheme across the 10 acre site. “Lancaster has seen very [...]
Barnes & Noble Nook losses grow November 29, 2012 Barnes & Noble said yesterday that the quarterly loss in its Nook division increased as the bookseller increased spending on its e-readers and tablets to keep pace with larger rivals Amazon.com and Apple. Overall revenue in the quarter slipped 0.4 per cent to $1.88bn, while retail sales, still its biggest segment by far, fell 2.9 [...]
Mobile growth boosts Paypoint November 29, 2012 Electronics payments operator Paypoint said it sees a “substantial” opportunity for growth via mobile payments as the company reported a 16 per cent rise in profits to £18.3m. The company saw its biggest growth in its half-year in PayByPhone – which allows people to pay for parking via their phones. This led to a six [...]
AA bondholders call for shake-up November 29, 2012 A group of some of bankrupt American Airlines’ most significant bondholders said it will not support a standalone restructuring unless a new board is brought in, a move that may increase hurdles for chief executive Tom Horton. The 12-member bondholder group includes JP Morgan, Pentwater Capital Management and York Capital.
Ryanair blames watchdog for a hike in charges November 29, 2012 RYANAIR will today introduce two surcharges on its online flight bookings, blaming an Office of Fair Trading ruling for the hike in fees. The low-cost airline, which has been on the receiving end of several OFT complaints over surprise booking fees, said it is adding the levies after the watchdog’s crackdown on air tickets over [...]
Wood Group seen as attractive after £126m family stake sale November 29, 2012 ANALYSTS picked energy services firm Wood Group as a buying opportunity yesterday after its shares fell following a family stake sale. The Wood family trust and members of the Wood family sold just over 16m shares – representing their entire 4.4 per cent stake in the firm – through Credit Suisse and JP Morgan Cazenove. [...]
