Buckingham’s delight over Turkish deal June 7, 2009 HERITAGE OIL is understood to be in talks with Genel Enerji, the Turkish oil company controlled by Turkey’s richest man, Mehmet Emin Karamehmet. A deal with the millionaire, which follows frenzied talks over who would take over the FTSE 250 company, could see Karamehmet become a major shareholder, turning Heritage into a major player in [...]
We do more harm than good in ignoring the EU June 7, 2009 Loyal City A.M. readers will know that I am forever trying to drum up interest in the European Union. How many of us realise that 98.8 per cent of the cost of the FSA’s regulations originates in Brussels? The EU is not a quirky continental side show – its decisions are at the core of [...]
Dissidents in warning on Condor June 7, 2009 THE dissident group of shareholders behind a reverse takeover bid for miner Condor Resources yesterday warned the firm’s cash resources will not be enough to tide it over past the end of next year. Shareholder Michael Silver and half a dozen other investors joined forces with smaller rival Worldwide Natural Resources last Wednesday, as it [...]
BEST OF THE BROKERS June 7, 2009 CARPHONE WAREHOUSEInvestec said that Carphone Warehouse’s full year 2009 results were in line, once adjusted to take a new accounting standard into consideration, but are relatively lacklustre as revenues declined 2.7 per cent year-on-year. The demerger deadline has been pushed back to July 2010. The broker reiterates “sell” with a 140p target price. BELLWAYBellway’s interim [...]
Royal Mail heads for clash with Labour June 7, 2009 ROYAL Mail increased pressure on the government to quickly pass a bill to part-privatise the postal operator, warning that closing final-salary pension schemes for 150,000 staff will be at the top of its “options list” if no deal takes place. The threat comes amid frustration that the political process to get the privatisation through Parliament [...]
Hedge funds make hay in May rallies June 7, 2009 THE HEDGE fund industry put in its strongest performance in almost a decade in May, as fund managers took full advantage of the relief rally in equity markets. The industry put in a 5.2 per cent investment gain in May, the best seen since February 2000 according to leading US data firm Hedge Fund Research [...]
City Moves who’s switching jobs June 7, 2009 HansteenThe property investment firm has hired Mark Ovens and James Havery to its team. Ovens started his career with Arlington Securities in 1987 and joined Ashtenne in 1995, while Havery joined DTZ Debenham Thorpe in 1995 and moved to Ashtenne in 2002. After the sale of the firm to Warner Estate in 2005, both continued [...]
Tui to host Euro 2012 travellers June 7, 2009 Tour operator Tui has sealed a deal to become the official accommodation agency for the 2012 European Football championships. The tournament, which is held every four years, will take place in Poland and the Ukraine. Tui will provide over 200,000 beds for the governing body Uefa’s officials as well as the teams, sponsors and the [...]
Dairy farmers lose savings June 7, 2009 The Dairy Farmers of Britain (DFOB) co-operative collapsed last week, meaning that many of its 1,800 members, who supplied milk to the co-operative, will lose their savings. The DFOB, which was forced into receivership on Wednesday of last week, sold the milk onto supermarkets, keeping 0.5p per litre itself, and paying the remainder to the [...]
GMTV boss joins NetplayTV June 7, 2009 Clive Jones, the chairman of GMTV, is joining the board of gaming group Netplay TV as non-executive chairman. Netplay TV, which is headed up by chief executive Martin Higginson, runs television and internet channels which offer interactive gaming.
