Alarm at drop in Greek GDP

first_img Alarm at drop in Greek GDP Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot whatsapp Show Comments ▼ whatsapp Tags: NULLcenter_img Thursday 12 August 2010 8:29 pm WEAKER than expected growth from Greece and a surge in unemployment spread fresh fears in the City yesterday over the country’s ability to weather the sovereign debt crisis.The Greek economy shrank by 1.5 per cent in the second quarter and the unemployment rate jumped to 12 per cent, according to official statistics, reflecting the pain of drastic austerity measures agreed with lenders in a bid to battle its debt crisis. The disappointing GDP figure was significantly lower than the one per cent drop expected by economists and pushed up the cost of protecting Greek government debt against default. It now costs €795,000 a year to insure an exposure of €10m of Greek government bonds, according to CDS monitor Markit.The Greek economy is expected to contract by four per cent this year, according to the EU and IMF.The figures also intensified concerns over the health of fellow weak Eurozone members sending investors rushing into safe haven assets with the spreads between Bunds and Greek, Portuguese, Irish, Italian and Spanish debt rising sharply.“It is an interesting little warning sign. The problems have not gone away, the cracks have just been papered over,” said Evolution’s Gary Jenkins. KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanReporter center[Photos] Meet The Man Katie Couric Is Romantically Involved With In 2021Reporter centerBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvd Sharelast_img read more

EMEA investment banking fees lag peers across globe

first_img More From Our Partners ‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com EMEA investment banking fees lag peers across globe INVESTMENT banking fees in Europe, the Middle East and Africa (EMEA) slipped far behind the rest of the world over the first three quarters of the year, with the region’s banks taking a 15.2 per cent cut in fees in comparison to an 8.7 per cent global increase.Globally, the fee income pool for investment banks rose to $57.65bn (£36.35bn). The biggest proportion of this came from the Americas, which saw fees boosted 20.7 per cent to $28.92bn compared to the first nine months of 2009, while Asia-Pacific recorded the fastest fee growth, up by over a quarter to $8.69bn. Wednesday 6 October 2010 8:52 pm Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Share KCS-content Show Comments ▼ whatsapp The EMEA region was alone across the globe in recording a fall, taking investment banking fees down to $15.92bn in a tumultuous period which saw the overwhelming debt burdens on fiscally-challenged Eurozone states threaten to plunge the entire area into chaos.Across all fee revenue streams – investment banking, bonds, equity, loans and M&A – JP Morgan pulled in the most in fees, taking 6.4 per cent of the global market. In the EMEA region, Bank of America Merrill Lynch dominated with 4.9 per cent.Goldman Sachs was the top-ranked global M&A adviser, acting on 6.5 per cent of the world’s deals.In total, M&A advisory fees rocketed up 37 per cent over the period to $20.4bn, as improving economic conditions heralded a boom in the number of deals coming to market. The only asset class to record a year-on-year decline was equity capital markets, where fees dropped 15 per cent to $14.5bn. whatsapp Tags: NULLlast_img read more

Sinochem offer for Potash Corp is now unlikely

first_img Show Comments ▼ whatsapp whatsapp KCS-content SINOCHEM, China’s largest fertiliser company, may struggle to get state financial backing for a takeover of Canada’s Potash Corp, making a deal unlikely, it emerged last night.China’s government has indicated it would prefer Sinochem to finance any takeover without credit from state banks, which is likely to put the transaction beyond the company’s reach.Sinochem may still consider seeking a minority stake, a deal that would be easier to fund.China’s Sinochem has been touted as the most likely company to come up with a competing bid to rival London-listed BHP Billiton’s $39bn (£24.6bn) hostile offer for Potash Corp. Sinochem could not be reached for immediate comment. Sinochem offer for Potash Corp is now unlikely Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap Tags: NULL Share Thursday 7 October 2010 9:47 pmlast_img read more

BP’s Hayward in line for Temasek role

first_img TONY Hayward, the former chief executive of BP who stepped down at the beginning of this month, is believed to have been approached to take a role at Temasek Holdings, the Singaporean state investment fund.Hayward has been holding talks with Temasek about a possible appointment to its international advisory panel. Last month Hayward spoke at a conference in Singapore organised by Temasek and discussions about a role have apparently taken place since then.People close to Hayward said the talks were at a “delicate” stage, and that they might not lead to an appointment. A friend of Hayward’s told Sky News the role was just one of several that he was considering. KCS-content BP’s Hayward in line for Temasek role whatsapp Share whatsappcenter_img Thursday 28 October 2010 9:15 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBeach RaiderSee The Woman Bradley Walsh Is Dating At 61Beach Raider Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULLlast_img read more

Polo starts share buyback

first_img Share whatsapp whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com Monday 22 November 2010 7:50 pm Show Comments ▼ Polo starts share buyback center_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterUndo KCS-content Polo Resources began a £208m share buyback yesterday, lengthening the odds of another acquisition attempt. The AIM-listed firm bought 40m of its own shares yesterday for 5.205p each. Polo made a £129m offer for rival Caledon Resources in April, before pulling out in July due to volatile market conditions. Tags: NULLlast_img read more

The world’s largest goldminer sees blue skies ahead as demand soars

first_img whatsapp Aaron Regent, the chief executive of the world’s biggest goldminer Barrick Gold, straightens his tie and smiles – it’s a good time to be in the gold business.Regent, a 44-year-old with a middle distance runner’s build, is sitting in a meeting room in the recently refurbished Savoy Hotel, and can be forgiven for feeling pleased with himself as gold’s prospects seem to get brighter everyday.Over the last two years the precious metal has been on a bull run, regularly reaching record highs as investors look for a hedge against inflation to shield against the ongoing economic uncertainty, and provide a safe haven away from the volatility of shares and currencies. Gold’s latest record high was on 9 November, when it reached $1,424.30 (£901.80) an ounce; in January 2000 the price was a mere $280.Earlier this month World Bank President Robert Zoellick said leading economies should consider adopting a modified gold standard “as an international reference point of market expectations about inflation, deflation and future currency values.”Gold has played little part in setting how currencies are valued since the Bretton Woods fixed exchange rate regime broke down in 1971, but the last few years has shaken some investors’ faith in the present system of flat money, unpredictable government intervention and rising tensions.Not surprisingly, Regent, an accountant by training, does not see this coming to an end soon. The smooth-talking Irish-born Canadian says: “We are going through a structural change and more people want to use gold as money. The attitude of central banks to gold has changed. Over the last few decades they had been sellers of gold. Now they are buyers. Central banks in China, Russia and India are buying up a lot of gold.”Currently 40 per cent of gold is bought as an investment, 50 per cent as jewellery, with the rest used for industrial purposes.Regent says: “The fundamentals are very strong for gold. And the elements that have made it so are as strong as ever.”He adds: “Is this a bubble? I don’t think so. Over the last 40 years one ounce of gold has on average been able to buy 15 barrels of oil. That’s still the same today. So the gold price is keeping its relative position in comparison with other commodities.”All of this is a powerful tonic for the Canadian-based goldminer’s bottom line. In October the firm posted a record third quarter net income of $837m, compared to a one-time loss of $5.35bn the year before when it was in the middle of unwinding its long-term gold hedging programme, which limited the firm’s exposure to gold prices.The business – which owns 25 mines in such countries as US, Australia and Papua New Guinea – produces 10 per cent of the world’s gold and employs 20,000 people. It has gold reserves of 139.8m ounces. Its cash costs, or costs of production, are $454 per ounce, compared to $518 a year ago. The group is listed in New York and Toronto, and has a market value of $50bn.But Regent is keen to ramp up production to take advantage of the high gold price. This year the firm plans to mine between 7.65 and 7.85m ounces, compared to 7.4m ounces a year ago. And by 2014 it plans to push this figure up to 9m ounces of gold a year.To do this Regent reorganised the firm last year into four key regions: North America, South America, Australia Pacific and Africa. He also cut the headcount in the Toronto head office by 25 per cent to 200.He says: “I wanted to get the area managers closer to the business. They are on the ground and are in the best place to make decisions. I wanted them to run those businesses and take responsibility for their decisions. There was too much overlap between corporate and the regions previously.”The business, which was set up by chairman and founder Peter Munk in 1983, had primarily grown through acquisitions rather than finding its own deposits. But it is, however, developing two major mines, which will be key to Barrick reaching its 9m ounce target.It is working on the Pueblo Viejo mine in the Dominican Republic, which is expected to begin production in the fourth quarter of 2011, and the Pascua-Lama mine, on the border between Argentina and Chile, slated to start output in 2013.Regent says: “These two mines will provide a lot of the increased production we are targeting. Altogether, we are working on six projects and our spend on them this year is $180m. It will be more next year.”In March Regent spun off around nine per cent of the group’s assets onto the London Stock Exchange. This business, called African Barrick Gold, is made up of four mines in Tanzania that produced 716,000 ounces of gold last year.Things initially started well. The firm floated towards the lower end of its 550p to 650p price range at 575p, but this still valued the business at around £3bn, which made it big enough to enter the FTSE 100.However, African Barrick Gold twice had to round down its 2010 forecasts from around 850,000 back to 716,000 ounces, after having in July admitting it was having trouble getting to the higher grade ore in the mine. And then last month it revealed that there was a fuel theft ring at its Buzwagi mine – the largest in the spun-off business, and resulting in the firing of 60 workers. As a result, it was forced to warn that production would suffer until it could train enough workers to replace those that had gone. This theft comes a few years after one of its mines was attacked by locals who stole gold, because they claimed the mine had taken away their livelihoods.African Barrick Gold currently trades at 523p, below its float price. Some analysts wonder whether Barrick has actually parked a problem unit by floating African Barrick Gold, a business that has in the past suffered from years of underfunding.But Regent is quick to point out that Barrick retains a 74 per cent stake in the unit and that he is chairman of the new company.He says: “We are not distancing ourselves from this business, nor would we. Because we are such big shareholders this gives us the biggest incentive to make sure the business is a success. We have also brought new shareholders into the operation and we want them to make a good return on their investments. It has been a frustrating period. Buzwagi production is below what we had hoped. But we are not in despair, the assets are still there.”The goldminer adds: “The easy decision on the fuel theft would be to be quiet about it and try to muddle along. The right decision was to deal with it and fire the people involved in the incident.”He says the Buzwagi mine is “on the way back to full production.” And he adds that the London float allowed Barrick to get in a high quality management team, led by chief executive Greg Hawkins, who he backs. The unit, he says, is also looking at making acquisitions in the Congo and the rest of Africa.Investors expect much from Regent, who has a golden boy reputation in the mining industry. After a short stint at accountants Ernst & Young, the Alberta-raised Regent joined miner Noranda and became chief executive of the multimillion-dollar business before he was 30. When the firm merged with Canadian nickel miner Falconbridge in 2005 he remained the head of the enlarged firm.And even when Anglo-Swiss mining giant Xstrata bought out Falconbridge for $18bn in 2006, Regent managed to get Xstrata boss Mick Davis, who is known as a tough dealmaker, to repeatedly raise his bid despite the fact that the bigger firm already owned 25 per cent of Falconbridge. He spent the next three years from 2006 at Canadian firm Brookfield Asset Management as joint head of its new infrastructure fund. Then Peter Munk at Barrick tempted him back to run a public company last January.Regent might have a problem unit to sort out, but overall the comfortable feather bed of record gold prices should give him the time and the space to address most of the issues he faces. For investors, meanwhile, the mantra is simple – in gold we trust.CV | AARON REGENTAge: 44Work: Aaron Regent became Barrick Gold’s CEO in January 2009. Between 2005 and 2009 he was co-CEO of Brookfield Infrastructure Group. Between 2002 and 2005 he was chief executive officer of miner Falconbridge. Prior to that, Regent worked for rival Noranda, where he carried out a variety of roles before becoming president. He started off at Ernst & Young. Education: University of Western Ontario. Family: Married, three daughters. Lives in Toronto.Hobbies: A board member of the National Ballet of Canada and The Trails Initiative, an outdoor activities charity for children. KCS-content Show Comments ▼ Wednesday 24 November 2010 7:29 pm whatsapp Sharecenter_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com The world’s largest goldminer sees blue skies ahead as demand soars Tags: NULLlast_img read more

Transfield makes £358m takeover bid

first_imgSunday 12 December 2010 11:02 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem whatsapp Show Comments ▼ whatsapp Tags: NULL Sharecenter_img Transfield makes £358m takeover bid KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap THE AUSTRALIAN contractor Transfield Services plans to buy Easternwell, a well services business, for $566m (£358m) and will sell new shares to help fund more than half the deal.The acquisition of the well servicing and construction firm will give Transfield more high-value work, the company said early today.Easternwell works in the mining, oil and gas and infrastructure sectors, with major customers like BHP Billiton, Chevron, Rio Tinto and Woodside.Transfield expects Easternwell to add more than A$40m (£25m) to the group’s earnings before interest, tax, depreciation and amortisation (EBITDA) in the six months to June 2011 and will boost earnings per share from the first full year.It reiterated it expects mid-single digit growth in net profit before one-offs for the year to June, as long as economic conditions do not turn down.Transfield plans to raise A$294m through a 2-for-9 non-renounceable entitlement offer priced at A$3 a share, a 14 per cent discount to its close last Friday, fully underwritten by JP Morgan Chase. The sale to institutional shareholders is open today and tomorrow, while the retail component will close on January 12.Transfield also said it has refinanced A$915m in debt facilities, extending maturities to between 2013 and 2015. last_img read more

Bankers could trade lending for soft touch

first_img Bankers could trade lending for soft touch Share More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org KCS-content whatsapp CHIEF executives of all of the UK’s major banks will be summoned to a meeting with chancellor George Osborne today, with the directors expected to try and sweeten the chancellor with offers of a multi-million pound lending target. The meeting was due to take place on Monday but was postponed due to Osborne being stranded in New York by the snows in Britain. It was convened in part to discuss increasing transparency measures to do with bankers’ pay, but the bankers are expected to offer to agree to a headline-grabbing target for lending to small and medium-sized businesses. The move would give Osborne a way to claim victory while avoiding any further action on bonuses. The EU and the Financial Services Authority have just rolled out the most stringent bonus regulation in the world, with bankers no longer permitted to receive more than 20 per cent of their bonus in cash up-front. The tough new regulation means that there is little more Osborne can do to regulate bonus payments. But the agreement could be thwarted by business secretary Vince Cable, who recently called lack of disclosure on pay a situation that could foster a “poisonous fungus”.Meanwhile, RBS is in negotiations over bonuses with its biggest shareholder: the UK taxpayer as represented by the UK Financial Investments (UKFI).Sources close to the bank say that RBS has asked to be able to pay up-front cash bonuses of up to £50,000 so as to prevent an exodus of talent. For the last two years, RBS has been not permitted to pay any cash bonuses. whatsapp Monday 20 December 2010 9:19 pm Show Comments ▼ Tags: NULLlast_img read more

Equity market lacks competition says OFT

first_img John Dunne More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Thursday 27 January 2011 3:40 am Show Comments ▼ Tags: NULL whatsapp Equity market lacks competition says OFT center_img whatsapp Britain’s equity underwriting market is not working as well as it should and lacks effective competition on pricing, the Office of Fair Trading said.The OFT said it was urging companies and institutional shareholders to apply greater pressure on equity underwriting fees after finding certain flaws with how the equity underwriting market operated.The OFT added it had found that there had been a major increase in fees paid to investment banks since the start of the financial crisis.“An efficient equity capital market is vital for the long-term growth of the UK economy. “Our in-depth study has found that the market is not working well, with little effective competition on underwriting fees,” Sonya Branch, OFT senior director of services and public markets, said in a statement. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Sharelast_img read more

Carillion in £306m offer for Eaga

first_img Builder Carillion has made a recommended cash offer to buy energy-saving scheme operator Eaga for £306.5m as it looks to enter the energy efficiency market.“Low carbon and its related energy efficiency markets present a compelling opportunity for growth for the group,” Carillion said in a statement on Friday.“As one of the leading green support services businesses in the UK, Eaga is at the forefront of this market.”Carillion said it would pay Eaga 118.79 pence per share, a premium of 29 per cent to the stock’s Thursday close, and 49 percent above Eaga’s closing price on February 2, when the offer was first made public.Eaga shareholders can also retain the interim dividend of 1.21 pence per share, payable on 18 March 2011, for a total offer price of 120 pence.The deal comes two weeks after Eaga, which has been hit by government spending cuts, posted first-half results below market expectations.Also on Friday, Zenergy Power, which makes specialised wires and coils for the renewable-energy sector using superconductor technology, said it was looking for a buyer. Show Comments ▼ John Dunne More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPuffer fish snaps a selfie with lucky divernypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com whatsapp Share Carillion in £306m offer for Eaga Friday 11 February 2011 3:15 am whatsapp Tags: NULLlast_img read more