Editor's Picks
Soco ditches Bayingu-1 well in DRC
Monday 17 Jan 2011
Soco International has plugged and abandoned the wildcat exploration well Bayingu-1 (BYU-1) in the Nganzi Block, onshore the Democratic Republic of Congo, despite finding traces of oil and gas. Reservoir sands at the primary Lower Bucomazi target were “poorly developed”, while the residual nature of the oil shows in the secondary Chela formation indicates “lack of closure” at this location.
Smiths Group rejects offer for medical unit
Sunday 16 Jan 2011
Smiths Group, the maker of medical devices, airport scanners and other equipment, has rejected a £2.45bn approach for its biggest division Smiths Medical, it announced after the close of trading on Friday.
World oil supplies enough for 46 years
Saturday 15 Jan 2011
The world’s supply of oil increased to 1,333.1 billion barrels in 2009, enough to power the globe for another 46 years, according to the latest data compiled by BP.
Fresnillo production soars in 2010
Friday 14 Jan 2011
Mexico-based silver and gold miner Fresnillo produced record amounts of both metals last year with output expected to increase again over the coming twelve months.
BP courts more controversy with Russian tie-up
Friday 14 Jan 2011
BP's share swap with state-owned Russian oil giant Rosneft has already provoked fierce opposition even though it was signed only two days ago. BP announced late Friday it had signed a deal that would see the UK firm issue the equivalent of a 5% stake in new shares to Rosneft in return for a 9.5% stake in the Russian oil giant. The swap is valued at about £10bn.
Christmas shopping winners and losers
Thursday 13 Jan 2011
The Christmas shopping season this year was hit by the extreme winter conditions in December, but some retailers have prospered, suggesting that those that performed poorly may be using the bad weather to mask other problems.
Australia flooding hits Rio Tinto aluminium ops
Thursday 13 Jan 2011
The flooding in Queensland, Australia that has caused widespread disruption to Rio Tinto’s coal operations has also hit its aluminium activities, the mining giant has reported.
Oil closes in on $100 mark
Thursday 13 Jan 2011
Oil traded at a 27-month high yesterday after delays repairing the leak in the Trans-Alaska System prompted some analysts to forecast a price of up to $100 a barrel in the coming weeks.
Five metal minors for 2011
Thursday 13 Jan 2011
London’s mining sector rose over 30% last year and more than 40% between August and the end of 2010 - pretty impressive stuff. But there could be more to come in 2011 as the global economic recovery remains on track, fuelling demand for raw materials.
Lloyds boss Daniels to pocket £2m bonus
Wednesday 12 Jan 2011
Eric Daniels, the head of Lloyds Banking Group, will receive a bonus of £2m this year, according to reports.
Tesco blames snow for UK shortfall
Wednesday 12 Jan 2011
Tesco’s international business was the star of the show in the run up to Christmas, as the snow and ice meant UK like for like sales were weaker than expected and lagged rivals.
EU's Rehn calls for stronger debt crisis measures
Wednesday 12 Jan 2011
The European Financial Stability Facility (EFSF) should be strengthened to help quell the current uncertainty in sovereign bond markets, the EU’s commissioner for economic and monetary affairs Olli Rehn has said.
Mince pie sales boost Greggs
Wednesday 12 Jan 2011
Bakery chain Greggs said like for like sales rose 0.6% over the Christmas trading period while total sales climbed 3.5% as shoppers snapped up coffee and Mince Pies.
Gartmore agrees to Henderson takeover
Wednesday 12 Jan 2011
Fund manager Gartmore Group’s ill-starred and brief stint as a publicly listed company is to be brought to an end, with the company’s board agreeing to a takeover by rival Henderson Group. Henderson is offering 0.667 of its shares for each Gartmore share, valuing each Gartmore share at 92.1p and the company as a whole at about £335.3m.
Another year of change in store for media sector
Tuesday 11 Jan 2011
In 2010, TV collided with the internet in the living room, transforming the humble TV set into a ‘Connected TV’.
Portuguese bonds advance as ECB buys
Tuesday 11 Jan 2011
The so-called ‘PIGS’ were in focus again on Tuesday amid talk that the European Central Bank has been buying Portuguese and Irish debt ahead of bond auctions in the two countries. The yield on a 10-year Portuguese bond plunged by 17 basis points to 7.03% while an equivalent Irish bond fell 32 basis points to 8.83%.
Technology comment: Keep taking the tablets
Tuesday 11 Jan 2011
It was a case of “keep taking the tablets” at last week’s Consumer Electronics Show (CES) in Las Vegas as a succession of computer companies unveiled rivals to Apple’s successful iPad.
Marks & Spencer sees challenging conditions
Tuesday 11 Jan 2011
Retail giant Marks and Spencer saw group sales rise 4.0% in the final quarter of 2010, but the company warned that things are likely to get tougher in the months ahead.
Japan pledges to support eurozone bonds
Tuesday 11 Jan 2011
Japan brought an element of calm to European bond markets on Tuesday by pledging to bonds issued by the European Financial Stability Facility (EFSF). A day after Portuguese bond yields hit new highs Japan’s Finance Minister Yoshihiko Noda said Japan is contemplating “buying more than 20% of the amount" of EFSF securities to be issued in the initial round.
Ocado needs to maintain momentum
Tuesday 11 Jan 2011
If Ocado is to become a profitable company it will need to maintain strong sales growth for the next few years, so today’s numbers for Christmas trading will be welcome.
You are here: news > editors picks
10 Lower Thames St,
London EC3R 6EN