German utility E.on books record loss as it writes down power plants November 11, 2015 The figures E.on reported a net loss of €7.25bn (£5.12bn) in the three months to September 30, the biggest in its 15-year history, when the company was created from the merger of Veba and Viag in 2000. The Germany headquartered company's results were sunk by a €8.3bn writedown on the value of its power plants and oil and [...]
Russian commodities firms Eurasia Drilling Company, Uralkali PJSC and Polyus Gold are fleeing London’s stock markets October 12, 2015 Russians are flocking to leave the London stock exchange as commodities companies take a hammering. Eurasia Drilling Company, Russia's largest driller, confirmed this morning its managers would buy out the company and de-list it from the London Stock Exchange, for an increased price of $11.75 a share. If the deal goes ahead, and is approved by two-thirds [...]
The bear is back: Experts warn the FTSE 100 is on the brink as global market volatility continues January 19, 2016 Fears that the FTSE 100 could be dragged into bear market territory deepened yesterday as global equities were gripped by volatility in another day of torrid trading. The FTSE 100 has so far managed to fend off falling into the bear trap, trading around 19 per cent off its all time high of 7,103 in April [...]
Luxury stocks including LVMH, Burberry and Kering have fallen out of favour: These days, it’s all about the stratospheric rise of Greggs’ sausage rolls December 22, 2015 Is this the end of luxury? It's certainly been a tough year for the most luxurious of brands, thanks in part to the slowdown in China, one of the fastest growing consumer markets. Options trader Banc de Binary has tracked the performance of some of the most high-end brands, including Kering, which owns Gucci, Balenciaga and [...]
Oil firm Ineos goes on a shopping spree for DEA’s North Sea assets October 11, 2015 Ineos has agreed to purchase all of the UK North Sea gas fields owned by Russian billionaire Mikhail Fridman’s DEA Group. The deal comes only weeks ahead of a deadline set by the government in April for DEA owner investment firm LetterOne to dispose of the oil and gas fields it bought from German utility [...]
Russia is not interested in joining Opec September 7, 2015 Russia has no plans to join the Organisation of Petroleum Exporting Countries (Opec), an oil-producing cartel of mostly Middle Eastern countries, according the to boss of a major Russian energy company. “Opec has lost its influence as a key market regulator, [there’s] no interest for Russia to join,” said Igor Sechin, chief executive of state-owned [...]
Fifa sponsors celebrate Sepp Blatter resignation: Coca-Cola, Visa, McDonald’s, Budweiser, Adidas and Hyundai all welcome move June 3, 2015 Fifa's sponsors have breathed a sigh of relief following Sepp Blatter's surprise decision to resign as president. Blatter's stepping down follows a week of scandal for football's under-fire governing body after a number of top officials were arrested on charges of racketeering, wire fraud and money laundering. Read more: UK directors tell Fifa backers to speak [...]
Ineos is reportedly in talks with Fairfield Energy over its holdings in the North Sea October 27, 2015 Chemicals firm Ineos is reported to be looking at extending its presence in the North Sea oil and gas business. The group is in advanced talks with Fairfield Energy to buy a stake in the Clipper South gasfield, according to Sky News. The deal bring Ineos' holding in the field up to 75 per cent, [...]
UK fails to stop RWE Dea North Sea oil sale to Russian billionaire Mikhail Fridman March 1, 2015 The UK government could face legal action if it attempts to interfere with a Russian billionaire’s bid for several North Sea energy assets. An investment vehicle called Letter One, which is owned by Russian tycoon Mikhail Fridman, is buying German oil company RWE Dea in a €5.1bn (£3.7bn) deal expected to be closed today. RWE [...]
Bournemouth bask in glory of meteoric rise to top flight April 27, 2015 AFC BOURNEMOUTH all but sealed promotion to English football’s top flight for the first time in the club’s history with a 3-0 victory over Bolton at the Goldsands Stadium last night. Goals from Marc Pugh, Matt Ritchie and Callum Wilson means only a remarkable turnaround in fortunes can deny the south-coast side a place among [...]