Aviva in danger of losing major Asian contract as rivals close in December 7, 2014 INSURER Aviva is facing a sale of one of its biggest contracts in Asia, according to market sources. If the company does not want to lose its bancassurance deal with Singapore’s DBS, which is due to end in 2015 after 14 years, it may be forced by a competitive auction process to pay in excess [...]
Worldview calls for Petroceltic chief exec Brian O’Cathain to go December 7, 2014 Capital management firm Worldview has announced it is suing Petroceltic International for breach of corporate governance. Worldview, which is the biggest shareholder in Petroceltic, said yesterday that it had issued legal proceedings against the company in the High Court in London last week. However, a spokesman for Petroceltic said the company had not received [...]
Tanzania deal win for Atlas December 7, 2014 OIL SERVICES company Atlas Development & Support Services has won its first contract in Tanzania, and now operates in five countries in East Africa. As part of the new deal the firm will provide turn-key support services, including workforce accommodation, facilities management, medical infrastructure, and logistical support to an international drilling company.
Anglo gears up for assets sale December 7, 2014 DETAILS of Anglo American’s plans to sell off assets will be revealed at its investor day for 2014, which will take place in London tomorrow. The London-based mining firm has previously announced that it is looking to sell off assets at a number of sites, including some of its oldest platinum mines in South Africa. [...]
Wikipedia founder Jimmy Wales to debut The People’s Operator on market December 3, 2014 Commercial mobile network The People’s Operator (TPO) has raised £20m ahead of its listing on Aim tomorrow, which has attracted strong interest from institutional investors such as Aviva, JP Morgan and Allianz. The company, led by Wikipedia founder Jimmy Wales, plans to use the funds raised to expand internationally. TPO recently signed a contract [...]
Esure board will see duo depart in May next year December 3, 2014 INSURANCE firm Esure group revealed the departures of Dame Helen Alexander and Anthony Hobson yesterday, both of whom will step down from the company’s board after its general meeting in May 2015. Alexander – the first female president of the Confederation of British Industry – will stand down after three years as deputy chairman and [...]
Chesnara boss to step down after striking Dutch deal December 3, 2014 LIFE insurance consolidator Chesnara is chasing growth in the Dutch market with the purchase of Waard Group for €67.8m (£53.4m). The company described the Waard Group businesses as strongly capitalised, noting that “the potential for phased, orderly capital extraction is a key attraction of the acquisition”. Graham Kettleborough, Chesnara’s boss, said he was “very excited” [...]
Antofagasta names chief December 3, 2014 CHILEAN miner Antofagasta yesterday appointed Ivan Arriagada Herrera as chief executive of its mining division. Arriagada, 51, takes up the role at the helm of Antofagasta Minerals with effect from 16 February 2015. He joins from Codelco, where he has been vice-president of administration and finance since 2012. He has also worked at BHP Billiton [...]
Airlines call for duty cuts on all tickets December 3, 2014 AIRLINES yesterday called for Air Passenger Duty (APD) to be abolished, and welcomed news that the duty on economy tickets for children under 12 will be removed from 1 May 2015. The measure was announced as part of George Osborne’s Autumn Statement, and he also pledged to extend the exemption to include children under 16 [...]
Fuel duty freeze welcomed but oil firms call for more support December 3, 2014 FUEL duty remains frozen at 58p per litre for petrol and diesel, the level it has been at since 2011. Yesterday’s Autumn Statement saw George Osborne keep fuel duty at the same rate for the seventh time. He told Parliament: “Despite falling fuel prices let me make this clear: we’ve cut fuel duty and we [...]