Editor's Pick: Markets: The week that was (16-20/11/09)
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| Fri 06:54 | AFX UK Focus |
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Nov 20 (Reuters) - European Oil & Gas:
outperform rating outperform outperform market perform EUR; rating market perform rating market perform
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| Fri 04:49 | AFX UK Focus |
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Daily Telegraph MORRISONS: NO SUCCESSION RUSH Sir Ian Gibson, the non-executive chairman of WM Morrison , has said that the company hopes to have a successor to the poached chief executive Marc Bolland in place "early in the new year", but claimed that Morrisons was not in a rush and there was no deadline. Gibson made the remarks as the supermarket chain released results showing that like-for-like sales growth declined to 4.3 per cent during the 13 weeks to November. The figures were disappointing compared to City predictions of 4.6 per cent and the 7.8 percent growth seen in the first half of 2009.
INVESTEC CHIEF CONFIDENT ON RECOVERY Investec has reported a 10 per cent fall in its pre-tax profits to 204 million pounds during the first half of 2009. The chief executive Stephen Koseff, however, noted that the bank's bad debts appear to be diminishing compared to last year. Although bad debts rose from 76 million pounds to 134 million pounds in the last six months, they had reached as high as 180 million pounds during the final half of 2008. Koseff expressed optimism for the future, whilst doubting that all the damage done by the financial crisis would be undone.
LADBROKES TO CLOSE CALL CENTRES DUE TO TAX The bookmaker Ladbrokes is to close its call centre at Aintree, threatening 263 jobs. Employees are to be offered a chance to relocate, in order to reduce the number of redundancies. The company blamed its decision on tax regulations placed on telephone betting operators in the UK. "Telephone betting is a very competitive market", stated the Ladbrokes spokesman Ciaran O'Brien, "and one that is becoming increasingly difficult for UK-based operators, who face significantly higher levels of tax than those operating from offshore jurisdictions." Revenue fell 41.3 per cent to 9.1 million pounds during the first half of 2009.
QUESTOR National Grid (Buy) BG Group (Buy) The Guardian TESCO RINGS THE CHANGES WITH PLANS TO OFFER HOME PHONE. Tesco is planning to increase its stake in the telecoms market, saying it sees more opportunities for big returns from mobile phone and broadband users. Tesco has recently announced a five-year deal with Cable and Wireless for it to supply Tesco with wholesale broadband packages, which it intends to supply to customers in bundled deals with its other products. Tesco is aiming to double its number of phone shops to 200 by the end of 2010.
BLUE-BLOOD CAZENOVE JOINS THE BLUE CHIPS Cazenove has been bought-out by JP Morgan for one billion pounds. Most of Cazenove's shares were owned by current and former employees - David Mayhew, the chairman of Cazenove, stands to make 20 million pounds from the deal, with JP Morgan offering 535p a share. Mayhew has been at Cazenove for 40 years, and there have been speculations about his retirement for over a decade. He is to stay on as chairman but will no longer have a role in the management of the business.
OLIGARCHS BACK RUSSIAN NOVICE AS NEW CHIEF OF TNK-BP GROUP In a move that proves the dominance of Moscow shareholders in the TNK-BP group, an inexperienced favourite of the Russian investors has been chosen as the new chief executive. Maxim Barsky, 36, will be trained at BP's headquarters in London for five months before assuming the position in 2011. BP has insisted that it was not steamrollered into the decision. BP's chief executive Tony Hayward said that he was "pleased" by the development. The Times LEGAL & GENERAL LINES UP EX-WOOLWICH BOSS AS CHAIRMAN Legal & General, the UK's third-largest insurer, is set to appoint former Barclays chief executive John Stewart as its new chairman. L&G has been searching for almost a year for a replacement for Rob Margetts, who has served as chairman for almost ten years. L&G senior independent director Sir David Walker has begun canvassing shareholders over the prospective appointment, and the insurer is expected to announce next week that Stewart will take up the position from January.
BURBERRY TARGETS INDIA'S BRAND-AWARE MIDDLE CLASS British fashion firm Burberry has applied for government clearance to launch a joint venture with Indian fashion retailer Genesis Colors. Burberry is hoping that it can match in India the growth it has achieved in China, where the company operates 44 stores and is enjoying double-digit percentage revenue growth. Burberry chief executive Angela Ahrendts said: "India is on a different curve. We only have about two stores there now but I see the same growth potential."
TRINITY MIRROR BIDS FOR NORTH EAST SLOT IN ITV LOCAL NEWS Publisher Trinity Mirror is bidding alongside the Press Association and television producer Ten Alps for the chance to make an ITV regional news bulletin for the North East. Trinity Mirror is already the owner of several newspapers in the region and hopes that these would form the basis for a new Tyne-Tees news service, to be part-funded by public money. ITV has complained that regional news bulletins will become uneconomic when the UK switches to digital television, and Labour ministers are keen for money from the BBC licence fee to be used to help fund regional news on ITV.
TEMPUS National Grid (A solid hold) PayPoint (Too soon to check out) AEA Technology (Take profits) The Independent
SAB MILLER RAISES A GLASS TO UK SALES SAB Miller has reported that volumes increased amongst its leading beer brands in the UK during the six months to 30 September. The brewer's UK business, Miller Brands, grew volumes of Peroni Nastro Azzurro by 35 per cent over the period and increased volumes of Pilsner Urquell by 26 per cent. The brewer reported earnings before interest, tax, depreciation and amortisation were down two per cent to 2.19 billion dollars over the half year period, with pre-tax profits falling to 1.5 billion dollars, after exceptional charges of 239 billion dollars.
HALFORDS PROFITS SOAR BY 24 PER CENT Halfords has reported a 24 per cent increase in pre-tax profits to 60.9 million pounds for the 26 week period to October 2, driven by a 2.1 per cent increase in underlying sales during the second quarter and tight cost controls. David Wild, chief executive of the bike and car parts retailer, said: "We can certainly continue sales for the remainder of this quarter, but we are a bit more nervous about the first quarter of next year with VAT going up, unemployment rising and the impact of sterling on buying products from overseas."
KIER NAMES SUCCESSOR TO VETERAN CHIEF EXECUTIVE Paul Sheffield has been appointed as the successor to Kier chief executive John Dodds when he stands down from the construction and engineering services group next April. Mr Sheffield is currently Kier's head of construction, infrastructure and overseas business, and has been with the group since joining as a graduate engineer in 1983. Out-going chief executive Dodds said: "I've worked with Paul Sheffield for over 25 years and I'm absolutely convinced that he is the right man to lead Kier into the future. Paul is highly talented and I look forward to working with him to ensure a seamless transition during the lead up to my retirement."
INVESTMENT COLUMN National Grid (Buy) Unite Group (Buy) Huntsworth (Hold)
Prepared for Reuters by Durrants
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| Thu 07:02 | RNS |
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RNS Number : 7520C BG GROUP plc 19 November 2009 News Release 19 November 2009 BG Group announces record productivity from well tests on the Iracema appraisal well in the Tupi area, Santos Basin, Brazil BG Group (25%) and partners Petrobras (65% and operator) and GALP (10%) have completed two drill stem tests (DSTs) on the Iracema well (4-RJS-647 or 4-BRSA-711-RJS) in the BM-S-11 appraisal area in the Santos Basin pre-salt, offshore Brazil. DSTs were carried out over two zones with aggregate production amounting to 10 500 barrels oil per day of light 32° API oil and 17 million standard cubic feet per day (mmscfd) of gas. Flow rates were facilities constrained. The Iracema appraisal well has confirmed the presence of an excellent quality light oil bearing reservoir, 33 kilometres north-west of the original Tupi discovery well (1-RJS-628A or 1-BRSA-369A). The well in-flow performance recorded during the tests was the highest so far achieved in BG Group's Santos Basin interests. Ultimately, development well flow rates of up to 50 000 barrels oil equivalent per day (boepd) are anticipated; these rates being constrained by production facilities rather than reservoir performance. The excellent characteristics of the pre-salt carbonate reservoirs in BG Group's concessions, confirmed by recent appraisal wells, have a highly significant positive influence on expected well recoveries, well density, development capital expenditure and project economics. BG Group Chief Executive Frank Chapman said "We are delighted with the results of this latest appraisal well, situated 33 kilometres from the initial Tupi well. This provides further evidence of the very large areal extent and prolific nature of the pre-salt discoveries we have made. We will be working closely with our partners to consider the optimum Tupi and Iracema development sequence, following this outstanding result." Further evaluation of the well data is on-going and work on field development options has been initiated. BG Group and its partners will continue the activities and investments foreseen in the Evaluation Plan approved by the Brazilian National Petroleum Agency (ANP), including the drilling of further wells in the area. Iracema, in the BM-S-11 appraisal area, was drilled to a depth of 5 000 metres and completed in September 2009. It is located in 2 210 metres water depth, around 250 kilometres off the coast of the State of Rio de Janeiro. Notes to Editors: BG Group has interests in five concessions in the deep water Santos Basin: BM-S-9, 10, 11 and 50, which are operated by Petrobras; and BM-S-52, which is operated by BG Group. BG Group also holds an operated interest in the BM-S-47 concession in the shallow water Santos Basin and holds one onshore concession (BT-SF-2) in the Sao Francisco Basin in Minas Gerais State. BG Group plc (LSE: BG.L) is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with a proven track record in finding and commercialising reserves. For further information visit: www.bg-group.com Picture Desks: For images of BG Group visit: www.vismedia.co.uk (requires additional registration) Contact:
There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to BG Group's annual report and accounts for the year ended 31 December 2008. BG Group does not undertake any obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required. <HR>--------------------------------------- This information is provided by RNS The company news service from the London Stock Exchange END
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| Tue 17:13 | RNS |
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RNS Number : 6621C BG GROUP plc 17 November 2009 News Release 17 November 2009 BG Group and Petrobras joint Santos Basin gas development BG Group today announced the signing of a Joint Venture Agreement (JVA) with the Brazilian oil company Petroleo Brasileiro SA (NYSE:PBRA - "Petrobras") focused on developing Floating Liquefied Natural Gas (FLNG) as an additional option to commercialise the material associated natural gas reserves in the Santos Basin pre-salt, offshore Brazil. Under the agreement, Front-End Engineering and Design (FEED) contracts will be awarded for a new FLNG vessel. This FLNG vessel will operate close to the planned Santos Basin Floating Production, Storage and Off-Loading (FPSO) vessels. The vessel will process and liquefy the associated natural gas from the pre-salt fields before offloading to LNG ships. The FLNG processing capacity is anticipated to be up to 14 million cubic metres per day of associated gas. The 3.0 million tonnes per annum (mtpa) LNG produced would be shipped either to Petrobras-operated regasification terminals at Pec?and Guanabara Bay to supply the Brazilian domestic market or exported to other global markets. BG Group is a significant participant in the Brazilian domestic market, holding a majority interest (60.1%) in Comg, Brazil's largest gas distribution company. In 2008, Comg?supplied gas to 1 000 industrial, 9 000 commercial and 650 000 residential customers in S?Paulo state. Average daily volumes increased almost five-fold between 1999 and 2008, from 3.0 million cubic metres per day (mmcmd) to 14.6 mmcmd. BG Group has developed a leading position in the global LNG industry, supplying customers in 20 LNG importing countries worldwide, with a flexible global supply portfolio, a fleet of modern ships and international commercial and logistical capabilities. This enables the Group to respond quickly to opportunities to secure greater margins. Petrobras operates 22% of the global deep waters oil production and holds the world's largest number of offshore production units (FPS and ships). BG Group Chief Executive Frank Chapman said: "We are delighted to extend our already close working relationship with Petrobras as we jointly consider options to develop the very material associated natural gas potential of the Santos Basin pre-salt. This agreement draws on a range of strengths within each company, combining Petrobras' expertise in ultra-deepwater exploration and development with BG Group's proven skills at all points of the global gas value chain." Indicative timeline The tender for the development of the FLNG FEED project was issued in August 2009. In October 2009, several consortia consisting of international suppliers with liquefaction and FPSO construction experience were invited to present their initial proposals. In December 2009, FEED contracts will be awarded to up to three of the consortia invited to bid, in accordance with the qualification criteria established for the tender process. The decision to develop separate FEED projects in parallel is intended to foster competition between the consortia, contributing to a reduction in the overall cost of the FLNG vessel. The successful bidders will prepare their FEED proposals through 2010. BG Group and Petrobras anticipate making the Final Investment Decision (FID) in 2011. The FID outcome will be based on technical and economic feasibility studies of each of the FLNG FEED projects presented. It will also take into account an assessment of the viability of alternative development options such as the installation of new subsea pipelines connecting the Santos Basin pre-salt to onshore gas processing facilities.
Notes to Editors: BG Group has interests in five concessions in the deep water Santos Basin: BM-S-9, 10, 11 and 50, which are operated by Petrobras; and BM-S-52, which is operated by BG Group. BG Group also holds an operated interest in the BM-S-47 concession in the shallow water Santos Basin and holds one onshore concession (BT-SF-2) in the Sao Francisco Basin in Minas Gerais State. BG Group plc (LSE: BG.L) is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with a proven track record in finding and commercialising reserves. For further information visit www.bg-group.com Picture Desks: For images of BG Group visit: www.vismedia.co.uk (requires additional registration) Contact:
There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to BG Group's annual report and accounts for the year ended 31 December 2008. BG Group does not undertake any obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required. <HR>--------------------------------------- This information is provided by RNS The company news service from the London Stock Exchange END
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| 13-11-09 | RNS |
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RNS Number : 4605C BG GROUP plc 13 November 2009 New well reinforces Tupi potential, Santos Basin, Brazil BG Group today confirmed that in the Santos Basin pre-salt, offshore Brazil, hydrocarbons had been encountered in a new well known as Tupi North-East (3-BRSA-755A-RJS or 3-RJS-662A) on block BM-S-11. Tupi North-East is located in the Tupi evaluation area in a water depth of 2 115 metres, approximately 265 km from Rio de Janeiro. The well is 18 kilometres to the north-east of the Tupi discovery well (1-RJS-628 or 1-BRSA-369). Partners Petrobras (65%, operator), BG Group (25%) and Galp (10%) drilled the well which penetrated an approximately 250 metre thick section of carbonate reservoirs. Wireline testing confirmed the presence of light oil at approximately 28° API. This is a further successful appraisal well which reinforces the partners' estimates that the Tupi accumulation holds 5 - 8 billion barrels oil equivalent of recoverable reserves. Drilling on Tupi North-East has been concluded and drill stem tests to evaluate reservoir productivity will be conducted over the next few weeks. The partners will continue the activities and investments foreseen in the Evaluation Plan approved by the Brazilian National Petroleum Agency (ANP), including the drilling of further wells in the area.
Notes to Editors: BG Group plc (LSE: BG.L) is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with a proven track record in finding and commercialising reserves. For further information visit: www.bg-group.com Picture Desks: For images of BG Group visit: www.vismedia.co.uk (requires additional registration)
Contact:
Out of Hours Media Mobile: +44 (0) 7917 185 707
There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to BG Group's annual report and accounts for the year ended 31 December 2008. BG Group does not undertake any obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required. This information is provided by RNS The company news service from the London Stock Exchange END
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| 11-11-09 | RNS |
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RNS Number : 3617C BG GROUP plc 11 November 2009 BG Group plc Notification of Interests in Shares by person discharging managerial responsibility The Company has received notification from Mark Carne that on 10 November 2009 he exercised options under the BG Group Company Share Option Scheme over 6,836 ordinary shares of 10p each ("Shares") at a price of £4.388333 per Share and 142,698 Shares at a price of £6.8983 per Share. Subsequently the 149,534 Shares arising from this exercise were sold, 6,836 Shares at a price of £10.895 per Share and 142,698 Shares at a price of £10.875 per Share. As a result, Mr Carne's interests in the ordinary share capital of BG Group plc continue to be 123,439 Shares, representing 0.004% of the Shares in issue. 11 November 2009 Website www.bg-group.com This information is provided by RNS The company news service from the London Stock Exchange END
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| 11-11-09 | AFX UK Focus |
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LONDON, Nov 11 (Reuters) - BG Group plc:
((London Equities Newsroom; +44 20 7542 7717)) (For more news, please click here)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 11-11-09 | RNS |
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This news article is displayed preformatted as it may contain results tables
RNS Number : 3442C
BG GROUP plc
11 November 2009
News Release
11 November 2009
BG Group CFO assumes interim responsibility for ECA region
BG Group today announced that Chief Financial Officer Ashley Almanza is to assume interim responsibility for the management of the Group's Europe & Central Asia (ECA) region, in addition to his current responsibilities as CFO.
Ashley Almanza, 45 and a chartered accountant with a MBA from the London Business School, joined the former British Gas plc in 1993. He has since held a number of key management roles within BG Group, culminating in his appointment as Chief Financial Officer in 2002.
BG Group Chief Executive Frank Chapman said: "Ashley is an accomplished and respected executive who has made a very significant contribution to the development of BG Group. I am delighted that he will now have the opportunity to apply his considerable skills and experience to the management of the ECA region."
Almanza's expanded role, which takes immediate effect, follows the decision by Executive Vice President and Managing Director, ECA, Mark Carne to leave BG Group to pursue other opportunities.
Frank Chapman said: "During his tenure, Mark has brought a number of developments to fruition, enhancing BG Group's operations in the region. We are grateful for his contribution to the Group and wish him well for the future."
-ends-
Notes to Editors:
BG Group plc (LSE: BG.L) is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with a proven track record in finding and commercialising reserves. For further information visit: www.bg-group.com
Picture Desks:
For images of BG Group visit: www.vismedia.co.uk (requires additional registration)
Contact:
Edel McCaffrey: +44 (0) 118 929 3508 edel.mccaffrey@bg-group.com
Jo Thethi: +44 (0) 118 929 3110 jo.thethi@bg-group.com
Out of Hours Media Mobile: +44 (0) 7917 185 707
Investor Relations: +44 (0) 118 929 3025 invrel@bg-group.com
There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to BG Group's annual report and accounts for the year ended 31 December 2008. BG Group does not undertake any obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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| 10-11-09 | AFX UK Focus |
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The Times
ACCENTURE LOSES RULING IN BATTLE WITH BRITISH GAS Accenture, the management consultancy, has lost an initial ruling in its High Court battle with British Gas over an IT system the utilities firm claims reduced its billing system to a shambles. According to British Gas, Project Jupiter, the 2006 IT project, led to hundreds of thousands of customers leaving the company at a cost of 220 million pounds ($369 million). British Gas said it was pleased with the judgment, but Accenture said it plans to appeal.
RIVALS ARGUE 'OUR NETWORK IS BIGGER THAN YOUR NETWORK' Mobile phone network operator 3 is taking Orange to the Advertising Standards Authority over Orange's claim in an advertisement that it had Britain's largest 3G network. Orange's ad campaign, which cost four million pounds, suggested that its network covered 93 percent of the population. It said that 3's network only covered 91 percent. However, 3 believes that its coverage is more extensive and that Orange's claim could be refuted if coverage were measured in a different way. The dispute comes despite both companies planning to collaborate on a network-sharing agreement with T-Mobile next year. NEED TO KNOW: LOK'N'STORE Storage company Lok'n'Store cited "consistently encouraging" trading this year, while reporting annual pre-tax losses of 656,000 pounds in the year to July 31. The figure represented a -12 per cent improvement on last year. The value of the firm's property grew to 78.4 million pounds from 76.8 million pounds at the start of January. Lok'n'Store, whose performance is largely dependent on the housing market said that demand for storage had picked up. The Daily Telegraph
GUARDIAN AND OBSERVER PUBLISHER TO UNVEIL FATE OF TITLES Guardian Media Group is set to announce further job losses, as part of a wider cost-cutting programme at its Guardian and Observer newspapers. Both publications are facing mounting losses and Observer staff will be addressed on Tuesday by editor John Mullholland. Cost cutting measures are expected to include further integration of the papers' editorial staff and the closing of some sections. GMG's newspaper division -- Guardian News and Media -- posted an operating loss of 36.8 million pounds in the year to March 29.
BOSWELL TO JOIN 'GOVERNMENT RAIL' Directly Operated Railways, the Government-controlled rail company that takes over the running of National Express's East Coast franchise on Friday is expected to appoint Karen Boswell to a senior position on Tuesday. Boswell, a former customer services director at First Capital Connect, will be the second high profile female appointment made this week -- joining former First Group colleague Elaine Holt, who is DOR's managing director. After walking out on an onerous contract requiring it to pay the taxpayer 1.4 billion pounds for the right to run the franchise, National Express faces losing its East Anglia and C2C franchises under so-called "cross-default" rules.
INVICTA LAUNCHES FUND FOR BIOMAS PLANTS Private equity firm Invicta has launched a 300 million pound fund to build and operate nine biomass power plants in Scotland. Invicta hopes to complete construction of all nine plants within three years and forecasts an eight percent post tax profit for individual members when all of the plants are operational. The plants will generate enough power to run 140,000 homes and managing director Niall Banford noted "huge interest" from institutions eager to secure Government subsidies and meet renewable energy targets.
FIVE POSTS 21 MILLION POUND LOSS AS ECONOMIC SLUMP BITES Five, the broadcaster, reported a loss of 20.8 million pounds last year, from 4.9 million pounds the previous year. The group was hit by restructuring costs, servicing loans and taxes from previous years. It added that despite an increase in turnover by two per cent to 344 million pounds, the second half of the year saw advertising revenues drop dramatically. FlashForward and CSI are among the shows that are broadcast.
ANGLO AMERICAN STARTS BOARDROOM SHAKE-UP WITH HAMPTON
APPOINTMENT Sir Philip Hampton, the chairman of Royal Bank of Scotland , has been appointed by Anglo American as a non-executive director. It is the first of three expected appointments that forms part of the mining group's restructuring programme aimed at rewarding shareholders for rejecting an approach from Xstrata. A mining analyst at Liberum Capital said that since Xstrata 'shut up' on its approach on October 15, Anglo's shares have outperformed both the sector and Xstrata.
DIGNITY PROFITS RISE SEVEN PERCENT
Dignity
percent increase in operating profits for the nine months to September 25, up from 40.1 million pounds to 43 million pounds. It said its full-year expectations remained unchanged after it acquired seven funeral locations and five crematoria in the year to date. The Sutton Coldfield-based company also reported a five per cent increase in revenues to 138 million pounds over the 38-week period. The Guardian
CADBURY REJECTS KRAFT'S 'DERISORY' BID Cadbury has rejected Kraft's 9.8 billion pound hostile takeover bid as not "remotely close" to the British company's true value. The rejection came after Kraft took its bid to shareholders. Cadbury chairman Roger Carr said the bid raised the "unattractive prospect of the absorption of Cadbury into a low-growth conglomerate business model." Kraft CEO Irene Rosenfeld defended the bid. Analysts expect Kraft to wait for Cadbury's trading performance to deteriorate before going to the company with a higher offer.
LONDON HOUSE PRICE BOOM SPREADS ACROSS THE COUNTRY The Royal Institution of Chartered Surveyors' monthly market snapshot is to report the most widespread surge in house prices since late 2006. Rics has seen evidence of gazumping, alongside sales of five million pound homes. The rise in prices is most significant in London, where it is the highest since December 1996. Meanwhile, the British Retail Consortium has found that furniture and household outlets are benefiting from the favourable market conditions. Retail sales across the UK are 5.9 per cent higher than in October last year.
MURDOCH PLANS TO STRIP GOOGLE OF NEWS Rupert Murdoch has indicated that he may remove his newspapers' stories from Google. The News Corp chairman and CEO said that his papers, including, the Times and the Sun, were likely to make the move once they began charging online. According to Murdoch, the Wall Street Journal is already absent from the search engine. Murdoch also criticised television networks like the BBC over their news content, and expressed his regret that several newspaper editors had stopped backing Gordon Brown. Prepared for Reuters by Durrants ($1=.5960 Pounds) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 09-11-09 | AFX UK Focus |
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By Christian Lowe
TUNIS, Nov 9 (Reuters) - Tunisia's energy sector is attracting growing interest from international firms looking for dependable returns, despite oil and gas output that is dwarfed by its neighbours Libya and Algeria.
EXPLORATION SUCCESS
Tunisia's business-friendly climate contrasts with the challenges in Algeria and Libya, where international energy firms have faced a toughening of contract terms and more assertive national oil companies.
(Editing by William Hardy) Keywords: ENERGY TUNISIA/ (maghreb.newsroom@thomsonreuters.com; tel: +213 21 727 020; fax: +213 21 639 151)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 04-11-09 | RNS |
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RNS Number : 9505B BG GROUP plc 04 November 2009 Financial Services Authority
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached.
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
Other (please specify):
notification obligation:
Legal & General Investment Management Limited (LGIM)
(if different from 3.):
Legal & General Group Plc (L&G) 5. Date of the transaction and date on which the threshold is crossed or reached:
reached:
Below 5% (LGIM) 8. Notified details:
A: Voting rights attached to shares
if possible using
the ISIN CODE
GBP 0.10
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction
Total (A+B+C)
9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
Legal & General Group Plc (Direct and Indirect)
(Group)
Legal & General Investment Management (Holdings)
Limited (LGIMH) (Direct and Indirect
Legal & General Investment Management Limited
(Indirect) (LGIM)
Management (Holdings) Limited (Direct) (LGIH)
(Direct) (LGIMHD) (123,114,773
- 3.65 % = PMC)
(PMC) (123,114,773 - 3.65 % = PMC)
(LGPL)
Proxy Voting:
N/A
to hold: N/A
voting rights: N/A
13. Additional information:
020 3124 3851 This information is provided by RNS The company news service from the London Stock Exchange END
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| 03-11-09 | AFX UK Focus |
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Nov 3 (Reuters) - European equity strategy:
overweight overweight (Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 02-11-09 | RNS |
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RNS Number : 7896B BG GROUP plc 02 November 2009 BG Group plc Voting Rights and Share Capital In accordance with the Disclosure and Transparency Rules we hereby notify the market that as at 30 October 2009: BG Group plc's capital consisted of 3,592,363,909 ordinary shares in issue. The number of BG Group plc ordinary shares held in Treasury was 222,138,569. Therefore, the total number of voting rights in BG Group plc is 3,370,225,340. The above figure (3,370,225,340) may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, BG Group plc under the FSA's Disclosure and Transparency Rules. 2 November 2009 Website www.bg-group.com This information is provided by RNS The company news service from the London Stock Exchange END
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| 29-10-09 | RNS |
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RNS Number : 6006B BG GROUP plc 29 October 2009 BG Group plc Block listing application Application has been made to The UK Listing Authority and The London Stock Exchange for a block listing of 20,000,000 Ordinary Shares of 10p each to satisfy the exercise of options under the BG Group Company Share Option Scheme, to trade on The London Stock Exchange and to be admitted to The Official List. The shares shall rank pari passu with the existing Ordinary Shares. 29 October 2009 Website www.bg-group.com This information is provided by RNS The company news service from the London Stock Exchange END
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| 29-10-09 | AFX UK Focus |
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NEW DELHI, Oct 29 (Reuters) - GAIL (India) Ltd. will buy a liquefied natural gas (LNG) cargo from Spanish firm Repsol after a planned deal with British firm BG fell through, two sources at the Indian firm said on Thursday.
(nidhi.verma@thomsonreuters.com; +91 11 4178 1018; Reuters Messaging: nidhi.verma.reuters.com@reuters.net)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 28-10-09 | AFX UK Focus |
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By Tom Bergin
LONDON, Oct 28 (Reuters) - Gas producer BG Group missed forecasts for third-quarter output due to a delayed project and weak demand while the resilience of its liquified natural gas business helped it post a lower-than-expected fall in profits.
PROFITS DOWN BUT BEAT FORECASTS
($1=.6091 Pound) (Reporting by Tom Bergin; editing by Karen Foster and Simon Jessop) Keywords: BGGROUP/ (+44 207 542 1029, tom.bergin@reuters.com, Reuters Messaging tom.bergin.reuters.com@reuters.net)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 28-10-09 | AFX UK Focus |
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By Tom Bergin
PROFITS DOWN BUT BEAT FORECASTS
($1=.6091 Pound) (Reporting by Tom Bergin; editing by Karen Foster and Simon Jessop) Keywords: BGGROUP/ (+44 207 542 1029, tom.bergin@reuters.com, Reuters Messaging tom.bergin.reuters.com@reuters.net)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 28-10-09 | AFX UK Focus |
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LONDON, Oct 28 (Reuters) - UK gas producer BG Group said it had suspended legal proceedings against the Kazakh government over $1 billion in export duties it was forced to pay, in the hope of a negotiated settlement.
(+44 207 542 1029, tom.bergin@reuters.com, Reuters Messaging tom.bergin.reuters.com@reuters.net)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 28-10-09 | AFX UK Focus |
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By Tom Bergin
LONDON, Oct 28 (Reuters) - British gas producer BG Group posted a smaller than expected rise in output on Wednesday, knocking the company's shares even as it reported a lower than forecast drop in third-quarter profits.
($1=.6091 Pound) (Reporting by Tom Bergin; editing by Karen Foster and Simon Jessop) Keywords: BGGROUP/ (+44 207 542 1029, tom.bergin@reuters.com, Reuters Messaging tom.bergin.reuters.com@reuters.net)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 28-10-09 | AFX UK Focus |
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For related news, please click on COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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