OMV and MOL in Iraqi fuel deal May 17, 2009 Two European energy companies helping build a pipeline which will cut the continent’s dependence on Russian gas said yesterday they will team up with Mideast producers to feed the route with Iraqi fuel. In a consortium announced in the United Arab Emirates, Austria’s OMV AG and Hungary’s MOL Nyrt said they will each take a [...]
LDV restart expected by July May 17, 2009 Rescued van maker LDV will restart production by July, it emerged yesterday, once its takeover deal is finalised. Malaysia’s Weststar agreed to buy the Birmingham-based company earlier this month. The UK government is providing a £5m four-week bridging loan, which will allow Malaysia to secure the funds it needs for a takeover. The government had [...]
LDV restart expected by July May 17, 2009 Rescued van maker LDV will restart production by July, it emerged yesterday, once its takeover deal is finalised. Malaysia’s Weststar agreed to buy the Birmingham-based company earlier this month. The UK government is providing a £5m four-week bridging loan, which will allow Malaysia to secure the funds it needs for a takeover. The government had [...]
Hugh Osmond faced with 200m Pearl share loss May 17, 2009 BUYOUT tycoon Hugh Osmond could lose around £200m on the value of his shares in the insurance giant Pearl as part of its emergency debt restructuring deal. Osmond is nailing down details on a deal, which will see its consortium of bankers, led by Lloyd’s Banking Group, restructure its £3bn debt. A source close to the [...]
Hugh Osmond faced with 200m Pearl share loss May 17, 2009 BUYOUT tycoon Hugh Osmond could lose around £200m on the value of his shares in the insurance giant Pearl as part of its emergency debt restructuring deal. Osmond is nailing down details on a deal, which will see its consortium of bankers, led by Lloyd’s Banking Group, restructure its £3bn debt. A source close to the [...]
Trio join the cash call craze May 17, 2009 A TRIO of property companies are setting their sights on fundraising this week to exploit opportunities created in the downturn. Great Portland Estates, Big Yellow Group and Shaftesbury have all been working with advisers on how to tap investors for extra cash. West End property specialist Great Portland Estates, is expected to announce a fundraising [...]
Trio join the cash call craze May 17, 2009 A TRIO of property companies are setting their sights on fundraising this week to exploit opportunities created in the downturn. Great Portland Estates, Big Yellow Group and Shaftesbury have all been working with advisers on how to tap investors for extra cash. West End property specialist Great Portland Estates, is expected to announce a fundraising [...]
There must be no second thoughts on Crossrail May 17, 2009 TODAY marks a seminal point for the City as the House of Lords discusses the Business Rate Supplements Bill. A bill affecting payments from businesses will clearly always be of huge relevance to the prospects for City firms but this is doubly important because it will determine the future of the Crossrail project. The bill provides the [...]
There must be no second thoughts on Crossrail May 17, 2009 TODAY marks a seminal point for the City as the House of Lords discusses the Business Rate Supplements Bill. A bill affecting payments from businesses will clearly always be of huge relevance to the prospects for City firms but this is doubly important because it will determine the future of the Crossrail project. The bill provides the [...]
Fortune signals China recovery May 17, 2009 Jet fuel demand in China rose over the first quarter, oil and gas firm Fortune Oil revealed in an update this morning, boosting hopes of a recovery in Far East air travel demand. Fortune’s BlueSky unit saw a nine per cent year-on-year increase in jet fuel sales over the period, while throughput of crude oil [...]