Editor's Picks
Cairn sells India stake to Vedanta for £5.4bn
Monday 16 Aug 2010
Cairn Energy has sold a 51% stake in its Indian business to mining giant Vedanta for $8.5bn (£5.4bn) and will result in a cash windfall for shareholders in the Scottish oil explorer. The money will give it financial flexibility to focus on an active multi-year exploration and drilling programme in Greenland and also consider “further material growth opportunities”, said Cairn chief Bill Gammell
RSA wants talks with Aviva
Monday 16 Aug 2010
Insurer RSA has left the door open to Aviva should its rival rethink its rejection of a £5bn approach for its general insurance businesses in the UK, Ireland and Canada.
Japan slips behind China as growth slows
Monday 16 Aug 2010
A sharp slowdown in Japanese growth during the second quarter has allowed China to overtake it as the world’s second-largest economy.
Oversupply pushes house prices down again
Monday 16 Aug 2010
Asking prices for newly-marketed homes have fallen by 1.7% in the UK this month after supply hit its highest for any August in three years.
Sir Alan Budd fears double-dip recession
Monday 16 Aug 2010
The ex-head of the government’s tax and spending watchdog is “not confident” Britain will avoid a dreaded double-dip recession.
Sir Alan Budd fears double-dip recession
Monday 16 Aug 2010
The ex-head of the government’s tax and spending watchdog is “not confident” Britain will avoid a dreaded double-dip recession.
Japan slips behind China as growth slows
Monday 16 Aug 2010
A sharp slowdown in Japanese growth during the second quarter has allowed China to overtake it as the world’s second-largest economy.
Aviva confirms RSA bid rejection
Monday 16 Aug 2010
Insurer Aviva has outlined its reasons for rejecting a proposal from rival RSA to acquire Aviva’s general insurance businesses in the UK, Ireland and Canada.
Cairn sells India stake to Vedanta for £5.4bn
Monday 16 Aug 2010
Cairn Energy has sold a 51% stake in its Indian business to mining giant Vedanta for $8.5bn (£5.4bn) and will result in a cash windfall for shareholders in the Scottish oil explorer. The money will give it financial flexibility to focus on an active multi-year exploration and drilling programme in Greenland and also consider “further material growth opportunities”, said Cairn chief Bill Gammell
Aviva rebuffs £5bn approach from RSA
Friday 13 Aug 2010
Aviva has spurned an advance from rival RSA Group which wanted to buy the firm’s general insurance operations for £5bn. RSA, the country’s biggest commercial insurer, made the approach last month in a letter from chairman John Napier to his opposite number at Aviva, Lord Sharman. But Aviva, formerly Norwich Union in the UK, couldn’t be persuaded to split its general and life insurance units
Stocks to be in when prices swing
Friday 13 Aug 2010
The row over inflation and whether we’re heading for a period of rising or falling prices is raging, and shows few signs of going away, but equity investors can be prepared, say experts.
Coalition seeks cost-cut advice from Topshop's Green
Friday 13 Aug 2010
The billionaire retail guru behind Topshop and Bhs, Sir Philip Green, has been enlisted by David Cameron to help the coalition government slash its £700bn spending bill.
Germany expands at fastest pace since reunification
Friday 13 Aug 2010
Germany's economy expanded at the fastest pace since reunification in the second quarter compared with the previous three months, new figures show. Gross domestic product rose a better than expected 2.2% in the quarter, according to Federal Statistical Office Destatis. Economists were looking for a 1.4% increase
Caza gas find may be big
Friday 13 Aug 2010
Further analysis at its O.B. Ranch #1 well on the Bongo prospect in Texas has led Caza Oil & Gas to announce “a potentially significant” discovery of natural gas and natural gas condensate.
BP fined $50.6m for safety violations at Texas plant
Friday 13 Aug 2010
BP will pay a record $50.6m fine for safety violations at its Texas City refinery, the troubled plant where 15 men were killed after a 2005 explosion. The firm will also invest $500m between now and 2016 to improve safety at the US refinery. The group said it already spent more than $1bn on safety and infrastructure improvements at the Texas City refinery during 2005-2009.
De La Rue CEO quits after irregularities at plant
Thursday 12 Aug 2010
Shares in De la Rue dropped more than 10% after James Hussey resigned as chief executive of the banknote printer.
Prudential boosted by Asia profits
Thursday 12 Aug 2010
In spite of all the negative publicity inspired by Prudential’s failed takeover of AIA, the company did quite well from a business point of view in the first half of the year, especially in Asia.
Sportingbet on track
Thursday 12 Aug 2010
Online betting firm Sportingbet said it continued to perform in line with expectations throughout the final quarter and is on track to meet full year forecasts.
Dana, KNOC at odds over due diligence and price
Thursday 12 Aug 2010
Dana Petroleum and South Korean national oil company KNOC seem no closer to agreeing a takeover as the two sides remain at odds over the price and the terms of due diligence.
Improvements all round at Aquarius
Thursday 12 Aug 2010
South Africa platinum miner Aquarius Platinum moved back into the black last year with sharp improvements reported in almost all metrics.
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