Centrica sets out to woo Venture’s shareholders July 12, 2009 CENTRICA, the company which controls British Gas, will this week seek to win over investors for its hostile £1.3bn takeover of the North Sea gas company Venture Production. The gas group’s board of directors slammed Centrica’s bid late last week, saying it “substantially undervalued” the business. The offer of 845p a share, which values the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 9, 2009 FINANCIAL TIMESSTRATEGIC REVAMP FOR LLOYD’SLloyd’s of London has begun the biggest strategic review it has undertaken this decade in an attempt to ensure the more than 320-year-old insurance market does not fail in exploiting the gaps in the market thrown up by the financial crisis. The institution, which deals in insurance risks from all over the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 8, 2009 FINANCIAL TIMES ARCELORMITTAL ATTEMPTS TO EASE DEBT BURDENArcelorMittal has started talks with its banks about making conditions for re-paying its $26bn (£16.2bn) of debt less onerous, in a bid to reduce financial pressure on the company as the global downturn continues. The world’s biggest steelmaker has taken this step as an insurance policy against its [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 8, 2009 FINANCIAL TIMES ARCELORMITTAL ATTEMPTS TO EASE DEBT BURDENArcelorMittal has started talks with its banks about making conditions for re-paying its $26bn (£16.2bn) of debt less onerous, in a bid to reduce financial pressure on the company as the global downturn continues. The world’s biggest steelmaker has taken this step as an insurance policy against its [...]
PVM Oil Futures’ rogue trader costs company around 10m July 2, 2009 A ROGUE trader has left a London-based oil brokerage with losses of almost $10m (£6m) following a series of unauthorised trades two days ago which are thought to have caused a spike in global crude prices. PVM Oil Futures issued a statement yesterday after talk of irregular trading swept through London and Asian oil markets [...]
Shrinking economy shakes market but Wolseley grows June 30, 2009 WEAKER than expected consumer confidence figures in the US drove some shares lower yesterday, with banks, miners and food retailers leading the fallers. The FTSE 100 shed one per cent, or 44.82 points, to close at 4,249.21. But the index is up 8.2 per cent on the quarter, the best such performance since the final [...]
A City restaurant in the crypt of St Paul’s spells an identity crisis June 29, 2009 THE RESTAURANT AT ST PAUL’SST PAUL'S CATHEDRAL, ST PAUL'S CHURCHYARD, LONDON EC4M 8AD (entrance through north-west crypt door)Tel: 020 7248 2469Web www.restaurantatstpauls.co.uk Cost per person without wine: £20 ONCE, stepping down into the crypt of St Paul’s Cathedral must have been a spooky experience. All those corpses and bones – even if they do belong [...]
Holidaying through rose-tinted spectacles June 21, 2009 BEACHES are what the Caribbean does best, and you’ll struggle to top the postcard perfection of Pink Sands in the Bahamas. Gazing out across the sand, it’s as though you’re seeing the world through rose-tinted spectacles, as the swathes of powder edging Harbour Island have a fantastical salmon-tinged hue. Crushed pinky shells of microscopic marine [...]
Southwest is best for the ultimate seaside bolthole June 18, 2009 EARLIER this week, a beach in Cornwall came up for sale. On 13 July, the 76 acres of Gwithian beach will be sold by property consultant Colliers CRE in its Portman Square auction house, with the price expected to be in the region of £50,000. A bunch of dunes might not be your idea of [...]
Eni mulls North Sea asset sale June 16, 2009 Italian oil company Eni is examining the sale of some of its assets in the North Sea worth around $1bn (£610m), its chief executive Paolo Scaroni said yesterday. “We will see if there are opportunities to make sales. From time to time we clean up our portfolio,” he said. Eni’s North Sea fields produce 20,000 [...]