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Salamander board to recommend £314m Ophir takeover

Salamander board to recommend £314m Ophir takeover

Mon, 24 November 2014

Salamander Energy has officially reached an agreement on the terms of its takeover by Ophir Energy, which values the oil and gas explorer at £314m. Under the terms, which are unrevised from those set ... [more]

Friends Life suspends buyback after Aviva takeover offer

Friends Life suspends buyback after Aviva takeover offer

Mon, 24 November 2014

Friends Life has suspended its share buyback after the insurer on Friday agreed to a £5.6bn takeover by larger rival Aviva. The £317m stock repurchase programme, which only started on 31 October after... [more]

Cranswick H1 revenues steady, debt shrinks

Cranswick H1 revenues steady, debt shrinks

Mon, 24 November 2014

Food supplier Cranswick said revenues were steady in the first half of 2014, as strong sales growth across most product categories offset a reduction in fresh pork sales. The group's revenues for the ... [more]

Petrofac cuts profit outlook on weak oil prices, project timing

Petrofac cuts profit outlook on weak oil prices, project timing

Mon, 24 November 2014

Oilfield services group Petrofac has scaled back its profit assumptions for next year, saying that depressed oil prices and the timing of deliveries will result in a weaker bottom line. Chief executiv... [more]

Sunday newspaper round-up: Aviva-Friends Life, Coutts, Quindell

Sunday newspaper round-up: Aviva-Friends Life, Coutts, Quindell

Sun, 23 November 2014

Clive Cowdery, whose Resolution acquisition vehicle bought Friends Provident in 2009, will make about £160m from Aviva's takeover of Friends Life, the Sunday Times said. The roles of chairman, chief e... [more]

Four Seasons considers options as debt mounts and earnings fall

Sun, 23 November 2014

UK care home group Four Seasons has appointed Blackstone Advisory Partners to assess its options amid reports the company's owner, Terra Firma, is looking at new avenues to tackle sliding earnings and... [more]

Savoy sales and profits drop nearly 3%

Sun, 23 November 2014

The Savoy hotel in London saw sales and profits plummet last year by almost 3% to £58.5m. Operating profits also fell by a quarter to £6.1m according to the company results covering the year to last D... [more]

Telecom group to launch attack on BT broadband 'monopoly'

Sun, 23 November 2014

A group of telecom firms have reportedly banded together to denounce the market "monopoly" held by BT. According to the Sunday Telegraph, the group has accused the regulator of supporting too many cro... [more]

Gail's Artisan Bakery IPO plans delayed until next year

Sun, 23 November 2014

The flotation of bakery group Gail's Artisan Bakery has been put off until next year. Owners of the 17-store cake and pastry chain had, according to the Telegraph, been in discussions with broker Finn... [more]

Flotation of Yorkshire and Clydesdale banks planned for next year, reports claim

Sun, 23 November 2014

National Australia Bank (NAB) could be planning to float its Yorkshire and Clydesdale banks in 2015 as it makes its exit from Britain "an absolute priority". The group, which has suffered heavy losses... [more]

Galliard Homes forms JV with group of US businessmen

Sun, 23 November 2014

A group of US businessmen has formed a joint venture with London developer Galliard Homes to build £1bn-worth of residential properties across the suburbs of the capital. The group, which goes by the ... [more]

Six-month cooling-off period comes to an end for Astrazeneca and Smith & Nephew bidders

Sun, 23 November 2014

This week will see the end of the six-month cooling-off periods that followed the takeover bids made for healthcare groups Astrazeneca and Smith & Nephew. This means that their respective suitors will... [more]

M&S frozen food supplier to downsize business

Sun, 23 November 2014

Marks and Spencer ready-meal maker Kerry Foods is reportedly looking to offload its frozen food arm as it refocuses on boosting profitability through its ingredient sector. The Sunday Telegraph has sa... [more]

SABMiller announces Brazil brewery deal

Sun, 23 November 2014

FTSE 100 brewing firm SABMiller will compete with Anheuser-Busch InBev in the world's second-largest beer market Brazil after partnering with local brewer Grupo Petrolis, the Sunday Telegraph has repo... [more]

Aviva in negotiations to purchase Friends Life

Fri, 21 November 2014

British insurance provider Aviva has opened negotiations to buy sector peers Friends Life for £5.6bn. The deal, which would be the biggest of its kind in the insurance sector since the merger of CGU a... [more]

Fitch downgrades AstraZeneca's long-term debt rating

Fri, 21 November 2014

British drugs giant AstraZeneca's risk profile is increasing as it invests in research and development (R&D), future growth and operational efficiency, even as patent expiries place pressure on its ne... [more]

Ophir Energy submits offer for Salamander Energy

Fri, 21 November 2014

British oil and gas explorer Ophir Energy has offered to purchase Salamander Energy for £267m to expand in southeast Asia. News emerged on 14 November that a consortium led by Spain's Compania Espanol... [more]

Red Rock Resources FY losses narrow on the back of lower costs

Fri, 21 November 2014

Mineral exploration firm Red Rock Resources said its pretax loss for the year had narrowed, due to a reduction in costs. Pretax loss for the year ended 30 June fell from £22.1m to £4.1m, as costs decl... [more]

Central Rand Gold enters MOU with Beijing Ankong Investments

Fri, 21 November 2014

Gold exploration firm Central Rand Gold has entered into a Memorandum of Understanding (MOU) with Beijing Ankong Investments. On 11 November, shareholders of the gold miner were informed the firm had ... [more]

RBS admits to error in stress-test calculation, capital ratio revised lower

Fri, 21 November 2014

The Royal Bank of Scotland has admitted to an error it made when calculating its capital ratio for the latest round of stress tests in Europe, saying it had "overstated" its estimated common equity ti... [more]

HSBC's Swiss private bank facing tax probe

Fri, 21 November 2014

France has launched a formal investigation into suspected tax avoidance involving the Swiss private banking arm of HSBC, it emerged on Friday. French magistrates are looking into allegations about whe... [more]

BG Group boosts production capacity in Brazil

Fri, 21 November 2014

Gas producer BG Group is hoping to boost its flagging fortunes with the launch of extra production capacity off the coast of Brazil. BG, which has unveiled several profit warnings in the last couple o... [more]

RBS reaches settlement with software firm over 2012 IT failure

Fri, 21 November 2014

Royal Bank of Scotland (RBS) has received millions of pounds in compensation from the software supplier at the centre of the 2012 IT failure. According to Sky News, New York-listed CA Technologies rea... [more]

Talk Talk would like to lease network to Vodafone

Fri, 21 November 2014

British telecoms operator TalkTalk Group would like to lease out its fixed-line network to bigger wireless rival Vodafone, the company's chief executive was quoted as saying on Friday. ... [more]

Templeton Emerging Markets NAV up 8%

Fri, 21 November 2014

Templeton Emerging Markets Investment Trust saw its net asset value (NAV) per share increase during the first half of the year due to a fast rate growth in the emerging markets economies. The group's ... [more]

FTSE 100 Top Risers

Name Last Chg.% Time
Friends Life Group Limited 373.00 7.28 08:51
London Stock Exchange Group 2,164.00 2.90 08:51
Lloyds Banking Group 79.46 1.24 08:51
Barclays 238.75 1.06 08:51
BT Group 383.30 0.87 08:51

FTSE 100 Top Fallers

Name Last Chg.% Time
Petrofac Ltd. 904.00 -24.22 08:51
Aviva 518.00 -3.90 08:51
Hargreaves Lansdown 983.50 -2.82 08:51
Fresnillo 746.00 -2.29 08:51
Anglo American 1,352.50 -1.99 08:51