WHAT THE OTHER PAPERS SAY THIS MORNING March 5, 2012 FINANCIAL TIMES REGULATORS CONSIDER AN OVERHAUL OF LIBOR UK regulators and global banks are discussing a potentially far-reaching overhaul of the calculation and regulation of interbank lending rates, amid claims that the benchmark for $350 trillion contracts worldwide may have been subject to manipulation. STARBUCKS TAKES COFFEE WARS TO NESPRESSO Coffee capsule wars are set [...]
London needs a champion to revive new issue market April 23, 2012 THERE’S been a drama playing out over the past few days in London that in recent times we haven’t seen enough of. A maker of luxury cashmere sweaters worn by Prince William and James Bond met fund managers to gauge interest in a share flotation. The fund management groups in attendance, who included Citadel Group, [...]
BP ponders a share buyback as new partner Rosneft hails $3bn benefits of Russian tie-up October 23, 2012 KREMLIN-controlled Rosneft chief Igor Sechin yesterday said that its takeover of TNK-BP could yield up to $5bn (£3bn) in synergy savings, largely on projects in north and eastern Russia. Synergies from the optimisation of current upstream, refining and marketing projects of both gas and oil could benefit the state-controlled energy producer to the tune of [...]
Remember Greece is not the only problem February 20, 2012 IF I’m getting sick of talking about Greece, I’m pretty sure you are just as sick of hearing about it. The thing that worries me more about the news fatigue around the Eurozone crisis is that we are about to become horribly complacent. Once Greece comes to a head, there’s bound to be another issue [...]
FTSE sees biggest fall since November over Greek drama March 6, 2012 BRITAIN’S top share index ploughed down through support levels yesterday as slowing global growth and Greece’s dithering over its debt swap plan intensified pressure on riskier assets, prompting a flight to safety and sparking fears of a deeper sell-off. London’s blue chip index, which is heavily weighted towards riskier banking and commodity stocks, posted its [...]
Ruspetro IPO gets the nod January 17, 2012 THE Russian-based oil explorer Ruspetro became the first company in 2012 to get a London main market float off the ground yesterday as investors gave the thumbs-up to a $250m (£163m) fund-raising. Ruspetro priced the shares at 134p yesterday evening, towards the lower end of the range. But advisers said they were delighted with the [...]
BEST OF THE BROKERS January 4, 2012 AFREN JP Morgan Cazenove rates the oil and gas company as “overweight” with a target price of 98p after it announced earlier in the week it had achieved an exit rate production level of 55,400 barrels a day, ahead of target. The broker says even at lower production levels Afren is still in a reasonably [...]
Vallares eyes Russian deals worth £8bn July 17, 2011 TONY Hayward, the former chief executive of BP, is considering a bid for two major Russian oil producers in a deal that could be worth around £8bn. Vallares, Hayward’s investment vehicle, has held early stage talks with Bashneft, one of Russia’s biggest oil producers, as well as Russneft, a smaller rival, City A.M understands. Both [...]
Vallares eyes Russian deals worth £8bn July 17, 2011 TONY Hayward, the former chief executive of BP, is considering a bid for two major Russian oil producers in a deal that could be worth around £8bn. Vallares, Hayward’s investment vehicle, has held early stage talks with Bashneft, one of Russia’s biggest oil producers, as well as Russneft, a smaller rival, City A.M understands. Both [...]
RAPID RESPONSES December 19, 2011 US independence I greatly enjoyed Matt Ridley’s article on shale gas [In America, the shale gas revolution is creating jobs and growth. It can here too, last Thursday]. I believe it to be an important part of the USA’s strategy for becoming self sufficient in energy once more. The implications of America weaning itself off [...]