The U.S. Federal Reserve Open Market Committee announced on Wednesday some important changes in terms of monetary policy. These policies are expected to help improve the economic condition of the U.S. economy but may as a side effect result in substantial harm for the European Union. As the FED throws another package of $45 billion…
14 Dec 2012 Cantor Opening Call The FTSE is seen up 10 points higher today UK Corporate Announcements Punch Taverns states that its sees improved conditions in H2 and that its profit is in line WHI Ireland announces group revenues gained to £25m, and that markets remain challenging and has cautious optimism…
HMV Group looks like it’s likely to be next victim on the British High street after a catalogue of recent bankruptcies including Clinton cards, Game and Peacocks. Today HMV warned that it was likely to breach banking covenants in January after faltering sales in the last few weeks in the run up to the…
This mornings RNS beggar belief – Suspension of operations Centamin advises that it has received an illegal retrospective claim from Egyptian General Petroleum Corporation (EGPC) for LE403 million (c. US$65 million) for diesel fuel supplied from December 2009 until January 2012. Furthermore, EGPC has refused to authorise future supply of diesel to the Sukari Gold…
Regular readers of this blog will know we got into a spat with one of the lowest forms of life imaginable some months ago – the cowards/ghouls that lurk on bulletin boards and post lies and untruths. There again are untruths being posted on the ADVFN Ceres Board (I suppose it says all we need…
“The Bakries said in a statement that Mr. Rothschild’s proposal was “unworkable,” given that Mr. Tan’s and Mr. Roeslani had informed Bumi’s board that they had no intention of selling their respective stakes on the terms proposed by Mr. Rothschild’s investment group.” “According to Wednesday’s statement from the group, neither is willing to sell on…
13 Dec 2012 Cantor Opening Call The FTSE is called to open down around 10 points this morning UK Corporate Announcements Sports Direct announces H1 revenues of £1.09bn up 22.5% and an adjusted EBITDA of £163.2mJohn Wood Group states that it sees its full year results in line and that the energy…
UPDATE – Lonmin confirms that Citigroup Global Markets Limited, Hsbc Bank plc, J.P. Morgan Securities plc and Standard Bank Plc have procured acquirers for the 11,080,521 New Shares for which valid acceptances were not received at a price of 272 pence per share, equivalent to ZAR 38.0025 per share at the time of sale. Accordingly, none of…
News out today that Warren Buffett’s Berkshire Hathaway has spent $1.2 billion buying back 9,200 of its class A shares for $131,000 each from the estate of a long term investor. Berkshire said they may buy more stock in the market at prices up to 120%of book value. The A shares of Berkshire are…
Hector’s House At the time the Libor scandal was announced in the summer, I could not believe that Barclays (BARC) had not received a more severe punishment than a mere slap on the wrist £300m fine for its part in the Libor scandal. In fact, the crime was so heinous that the bank and many…
