Viscount Rothermere raises £5m
25th Feb 2011 16:01
Viscount Rothermere, the chairman of newspaper publisher and exhibitions organiser Daily Mail and General Trust (DMGT), has sold £5m worth of shares. Viscount Rothermere sold 909,974 A ordinary non-voting shares at 550.57p each. He still owns 20.7% of the A non-voting shares, or just over 75m.
Read moreTravis Perkins chairman shows confidence
24th Feb 2011 17:02
Travis Perkins chairman Robert Walker has invested nearly £150,000 in the builders' merchants. He has bought 15,000 shares at 994.75p each, which takes his stake to 80,000 shares. Walker is also chairman of WH Smith and a non-exec at Tate & Lyle. The share purchase came after Travis Perkins an
Read moreWednesday newspaper round-up: Retail sales, Libya, Williams...
23rd Feb 2011 06:36
High-street retailers have warned ministers that consumers have drastically cut back their spending in the face of Government austerity measures. A number of Britain's largest store chains told The Times that trading had deteriorated since the new year, when the VAT rate rose from 17.5% to 20% and
Read moreBP finds $7bn for India purchase
21st Feb 2011 12:08
BP is paying $7.2bn (£4.4bn) for a 30% stake in 23 blocks in India owned by Reliance Industries. Future performance payments and investment could mean the UK oil giant ends up paying as much as $20bn for the assets, which include the producing KG D6 block. The pair will also set up a 50:50 joint v
Read moreOil soars amid Libya unrest
21st Feb 2011 10:58
The price of a barrel of oil hit its highest level since before the global economic crisis as BP said it was suspending drilling operations in the country due to the turmoil in the oil-producing North African country. Brent crude jumped to $104.25 a barrel, a level not seen since before the oil pri
Read moreFriday newspaper round-up: BP, Bats/Chi-X, Easyjet...
18th Feb 2011 06:39
Vince Cable's Business Department has been accused of indulging in empty rhetoric and failing to produce a coherent strategy for growth in a withering assessment of the past nine months. MPs on the Commons Business, Enterprise and Skills committee will say in a report published today that the Depa
Read moreBP hit by further delays to Rosneft deal
11th Feb 2011 12:20
BP's Arctic exploration deal with Kremlin-backed Rosneft has been hit by further delays after a London court extended an injunction on the deal ahead of arbitration which won't begin until next month. An injunction to freeze the tie-up was agreed at the start of the month following a request from t
Read moreLondon close: Good gains for FTSE 100
7th Feb 2011 16:40
Shares held onto their gains after a decent start on Wall Street to close well in advance of 6,000 points. Gold miner Randgold Resources is wanted after it shrugged off operational and political setbacks in 2010 to post a sharp increase in profit, helped by the increase in the price of gold. Profi
Read moreLondon afternoon: Gains pared
7th Feb 2011 14:19
Leading shares saw gains trimmed over the lunch time session but the Footsie remains comfortably in positive territory, due in no small part to the strength of mining stocks, Gold miner Randgold Resources is wanted after it shrugged off operational and political setbacks in 2010 to post a sharp in
Read moreBP mulling Indian gas block purchase
7th Feb 2011 12:14
BP is deciding whether to buy a 30-45% stake in the D6 hydrocarbon block in the Krishna-Godavari (KG) basin off the east coast of India. According to the Mint newspaper, the company has been in talks with the block's owner, energy giant Reliance Industries, "for some time". Reliance, India's large
Read moreSunday newspaper round-up: Bank bonuses, BP, Pfizer...
6th Feb 2011 11:02
Britain's biggest banks are poised to pay out a combined £6bn in bonuses despite government demands for restraint on City pay. The size of the payout will embarrass George Osborne, the chancellor, who is hoping to announce a peace deal with the City this week that will include targets for lending t
Read moreFriday newspaper round-up: Euro bail-out fund, Santander, BP...
4th Feb 2011 06:38
European leaders are preparing to commit themselves to an overhaul of the eurozone's €440bn bail-out fund that would increase its lending power and give it more tools to tackle the debt crisis, according to draft summit conclusions seen by the Financial Times. The measures have been widely debated w
Read moreThursday newspaper round-up: Lloyds Banking, BP, Irish banks
3rd Feb 2011 06:01
Lloyds Banking Group plans to create a vehicle to manage thousands of homes that it could then sell or float. The bank, which is heavily exposed to the British residential sector, is thought to be at a fairly advanced stage of setting up a special-purpose vehicle, or "residential asset management pl
Read moreBroker tips: BP, Vodafone, Compass
2nd Feb 2011 13:44
While BP still remains in transition mode in 2011, Credit Suisse says the shares continue to offer good valuation upside despite the uncertainty surrounding its Macondo well liabilities. The oil giant gave its first strategy update since the oil spill in April, in which it unveiled a "solid strateg
Read moreBroker snap: A year of transition for BP
2nd Feb 2011 12:50
While BP still remains in transition mode in 2011, Credit Suisse says the shares continue to offer good valuation upside despite the uncertainty surrounding its Macondo well liabilities. The oil giant gave its first strategy update since the oil spill in April, in which it unveiled a "solid strateg
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