Chariot shares plunge on dry well discovery September 10, 2012 SHARES in oil explorer Chariot Oil & Gas plummeted by half their value yesterday, as the company announced a well offshore Namibia was dry. Shares closed down 66.41 per cent yesterday at 33p. Chariot, which largely operates in Africa, said it had abandoned the Kabeljou well in the Nimrod prospect after tests showed there was [...]
Best of the Brokers September 10, 2012 PREMIER OIL Liberum Capital rates the FTSE 250 firm as “sell” from a previous “hold” rating, saying “performance has to improve if this is to add significant value” and saying the firm’s explorations will not reap rewards for several years. Liberum’s Andrew Whitlock adds that performance will suffer in the medium term due to a [...]
Grazie, Mario September 6, 2012 THE EUROPEAN Central Bank (ECB) is gearing up to spend billions of euros on supporting troubled governments, ECB boss Mario Draghi announced yesterday, sending markets soaring. As long as indebted governments ask the official bailout mechanisms for help and put in place strong plans to get their finances back on track, the ECB will consider [...]
Mayfair tempts horse racing TV investors to sell September 6, 2012 TOTTENHAM Hotspur’s owner Joe Lewis yesterday moved to boost his sporting investment empire by bidding to buy the company which beams horse racing TV footage into betting shops. Mayfair Capital Investments, Lewis’s fund management business, said it had put in an offer to increase its 29.99 per cent stake in Timeweave – which part owns [...]
Post-merger team unveiled at Investec September 6, 2012 INVESTEC Wealth & Investment (IW&I) yesterday unveiled a raft of fresh senior appointments as it completed the transfer of client accounts from Williams de Broë – the firm that it acquired in October last year. The Williams de Broë brand has now been officially dropped, with the two separate businesses now fully integrated. The group [...]
Direct Line’s Geddes needs to sell himself or face failure September 6, 2012 LONDON’S capital markets have been cheered a little by news that Alisher Usmanov, the Russian tycoon that owns a large shareholding in Arsenal football club, intends to raise $4bn (£2.5bn) for mobile phone operator Megafon in the next few weeks. There have been too few IPOs this year and so anything that livens up the [...]
City Moves | Who’s switching Jobs September 6, 2012 BNP Paribas Real Estate Mike Chadburn has been appointed senior director of international investment at the real estate division of BNP Paribas. He was previously the UK partner to Azimuth Global Partners, where he sourced and acquired UK assets for Malaysian and Korean investors. Chadburn has also previously worked as director of Central London acquisitions [...]
PwC overtakes KPMG as Britain’s biggest auditor September 3, 2012 BIG FOUR auditor PwC has leapfrogged its rival KPMG to become the top British auditor by client numbers, according to figures out yesterday. PwC only added three net new listed clients in the third quarter, but with a total of 370 it was enough to overtake KPMG, which lost a net 12 clients to put [...]
Analysts warn Eurozone bank will disappoint September 2, 2012 MARKET watchers expecting plans for bold monetary intervention from the European Central Bank (ECB) on Thursday are likely to be disappointed, analysts warn. “We expect the Bank to disappoint markets by providing only details about how it might buy bonds in future, instead of a grand plan for immediate and massive purchases,” said Jennifer McKeown [...]
Gosden juveniles worth noting at Sandown August 30, 2012 IT’S a pretty uninspiring weekend of racing action, but there are still winners to be had and first stop is the opener at Thirsk this afternoon where Brian Meehan’s MASTER MING has a good chance of breaking his maiden tag. He disappointingly failed to win a four-runner affair at Folkestone earlier this month, but the [...]