Hampson faces revenue challenge August 8, 2011 Hampson Industries, the international aerospace group, said it was facing short-term revenue challenges, reporting a loss of more than 17 per cent after it issued its second profit warning in 12 months. The group said the aerospace sector in general was sluggish and orders within the US had been lower than expected. This had a [...]
Chariot Oil to partner with BP August 8, 2011 British energy explorer Chariot Oil & Gas is partnering with BP to explore the coast of Namibia in search for oil. Both organisations are taking a 25 per cent stake in the Nimrod prospect, which could hold around 4.9bn barrels of oil. The Nimrod prospect is one of a number of deals planned to rebuild [...]
Landmark launch in Heron Tower August 8, 2011 Landmark, the serviced office provider, was the second tenant to open offices at the 440,000 sq ft Heron Tower on Bishopsgate yesterday, announcing that it had pre-let 20 per cent of its office space across its three floors. The firm, which also has offices in Royal Mint Court and Lombard House, has agreed for Eco [...]
Range Resources hits black gold August 8, 2011 Range Resources, the international oil and gas exploration company, has successfully sourced oil from the MD 247 well on the Morne Diablo block. The logs from the well indicate 145 feet of net oil pay in the shallow Forest Formation, with the firm looking to add a second and third rig to exploit the deeper [...]
CITY MOVES | WHO’S SWITCHING JOBS August 8, 2011 Santander The retail and commercial bank has promoted Robin Foale, formerly the divisional managing director for corporate and commercial banking in Thames Valley & South West, to managing director for its business banking division. In his new role, Foale will review the services offered to small businesses in Santander’s branch and telephone network. Prior to [...]
BEST OF THE BROKERS August 8, 2011 HOME RETAIL GROUP Nomura rates the owner of Argos and Homebase as “reduce” with a target price of 130p, and reduces its full-year forecatss for the group by around 16 per cent. The broker sees profits of £137.4m for February 2012, with like-for-like first half sales at Argos down nine per cent, given tough World [...]
FTSE hits lowest in over a year as volatility increases August 8, 2011 THE FTSE 100 fell for the seventh consecutive trading day yesterday, with investors continuing to drop stocks in favour of safer assets, unconvinced that governments and central banks have a grip on the global debt crisis. Miners, banks and integrated oil stocks led London’s blue-chip index down 178.04 points, or 3.4 per cent, to 5,068.95, [...]
US stocks plunge after panic selling August 8, 2011 US stocks plunged on yesterday, taking the S&P 500 down more than six per cent on growing fears of a recession, exacerbated by the loss of the country’s pristine triple-A credit rating. Panicked selling on heavy volume resulted in the S&P 500’s worst day since December 2008, with every stock in the benchmark index ending [...]
JAMES MURDOCH PUT ON HOLD BY BROOKS’S GENTLEMEN’S CLUB August 8, 2011 BROOKS’S in Mayfair is one of the oldest and most reputable gentlemen’s clubs in the country, founded in 1764 by four Dukes and with a cast list of former members that includes William Pitt the Younger and Lionel de Rothschild. As you can imagine, joining the ranks of the exclusive all-male preserve is not straightforward. [...]
Four skills for trading when volatility is high August 8, 2011 A VOLATILE market can be an unforgiving beast, swinging wildly from bull to bear, as animal spirits rampage and investors take flight. The Vix index – a measure of market fear – broke through 40 yesterday, its highest reading since 25 May 2010, indicating that we are living once more in volatile times. Following the [...]
