Putin in gas extraction summit September 20, 2009 Russian Prime Minister Vladimir Putin said he will this week hold a meeting on how to tap giant gas reserves on the Arctic Yamal peninsula, and global majors hope to hear about tax breaks and the easing of regulations. Industry sources said invitations had gone to the heads of Total, Royal Dutch Shell, Exxon Mobil, [...]
Lufthansa plans staff cost cuts September 20, 2009 Airline Deutsche Lufthansa is planning to cut five per cent off staff costs per year through 2011 at its central operations, a spokesman said, adding he was not able to say how many people worked there. Along with other airlines, Lufthansa has been hit by lower demand for air travel and rising fuel prices.
French deficit to soar to 130bn September 20, 2009 The French state deficit in 2009 will be some €130bn (£118bn), although it will fall to less than that in 2010, budget minister Eric Woerth said yesterday. “It will be some €130bn. When I say 130 I am not totally certain because I do not know what the tax revenues will be from companies between [...]
Non-financial debt hits high September 20, 2009 CORPORATE debt raisings in the US market have topped the $20bn (£12.3bn) mark for a second consecutive week, with issuance by non-financial firms now at an all-time high. Debt issues from energy giants Shell International Finance and Cenovus Energy helped debt markets to break records, according to Thomson Reuters. Investment-grade debt issuance by non-financial companies [...]
Mayor gets Londoners on their bicycles for Skyride September 20, 2009 MOREthan 65,000 people took to the streets of London on their bicycles for the Mayor of London’s Skyride yesterday, aimed at promoting city cycling. After events in Manchester, Hounslow, Glasgow and Leicester, traffic in the capital was blocked off to allow cyclists the freedom to enjoy sights such as Buckingham Palace, St Paul’s Cathedral and [...]
Hoare Capital grabs veteran credit experts September 20, 2009 HOARE Capital, the wholesale broking boutique, has embarked on a hiring spree in its specialist credit team, ahead of a possible move to new offices in Mayfair. The firm, led by founding senior partner Nicholas Hoare, has brought in 10 new faces to its credit business. Among the appointments is Richard Gathercole, formerly of Bank [...]
USgears up for flurry of share listings September 20, 2009 THEUNITEDStates is gearing up for its biggest week of initial public offerings (IPO) in nearly two years, in a welcome sign that an economic recovery is well under way in the world’s biggest economy. There are eight IPOs – where companies float new shares on the stock markets – lined up to take place this [...]
Risks to recovery from overzealous regulations September 20, 2009 Central bankers in the US and UK recently proclaimed the end of the worst global recession since the Great Depression. However, Federal Reserve chairman Ben Bernanke and Bank of England governor Mervyn King have both acknowledged that any recovery will be slow and painful, with unemployment likely to rise for many months to come. As [...]
Aim market on the road to recovery September 20, 2009 ACTIVITY on the Aim market is picking up after a year of lingering in the doldrums, new research has shown. Companies on the London Stock Exchange’s junior market will have raised around £3.6bn by the end of the year if the steady flow of fundraisings continues, a survey of institutional investors by stockbroking firm Arbuthnot [...]
CITY MOVES WHO’S SWITCHING JOBS September 20, 2009 Land SecuritiesThe property group has appointed Robert Noel, 45, as managing director of its London portfolio, effective from next January. Noel, who will also join the group’s board, has been property director at rival Great Portland Estates since 2002. He also currently holds positions as chairman of the Westminster Property Association and as a non-executive [...]
