Returning to a national currency after more than a decade of using the euro and having its money managed by the European Central Bank would catapult Greece into a financial, legal and political no man’s land. Countries have defaulted, devalued, or even withdrawn from a broader monetary union in the past. But none has done…
Another disappointing well result this week after the Chariot Oil and Gas bombshell, this time from Somalia’s somewhat aptly named Puntland region! Operator of the Shabeel well, Horn Petroleum Corp listed on the Canadian TSX, provided an update yesterday. The prospect is jointly owned by Red Emperor (20%) and Range Resources (20%) as well as…
The social network shares haven been priced at the top end of the range it set earlier this week, when it said it would price its IPO at $34 to $38 a share from $28 to $35 a share, in a sign of the tremendous investor appetite for the offering. At $38 a share, Facebook…
UPDATE (2) – It seems logical for Gulf Merchant to return to the table now and sell the SX direct to Icap. With confirmation of Misra’s interest in SX and DX now seeing potential acquirers, at the current price the shares still trade at cash value. Any Venture Capital company worth their salt could generate a…
The new iPhone that Apple Inc. is expected to unveil this year is likely to have a larger display than its current models have, with the company ordering bigger screens from its Asian suppliers, people familiar with the matter said. The new screens measure at least 4 inches diagonally, the people said, compared with 3.5 inches on Apple’s…
Japan’s Q1 GDP has come in ahead of expectations at 1%, compared with 0.1% in the fourth quarter of 2011. The growth was partly driven by infrastructure spending relating to the reconstruction efforts in the Tsunami area and consumer incentives to buy fuel efficient cars. In contrast, the Bank of England downgraded UK growth from…
And another day down – 9 out of 11. Vix upto 22, Put:Call ratio still firmly in bear camp territory.. . I had a couple of chats with various market participants and resignedness to the shakeout, forced selling and disgust were the prevailing sentiments relayed to me – to a contrarian trader, ones antannae are…
How does Greece leave the euro? In one scenario, a Greek authority would have to agree on a date with the rest of the euro zone for its departure and for the introduction of a new currency (let’s call it the new drachma). It would say that from that date, all public salaries, contracts and…
There have been some interesting share price movements in recent weeks in African focused oil and gas explorer, Chariot Oil & Gas. No accusations of corse, but the price movement the week before this weeks well result RNS is telling perhaps about leaks in AIM oil companies before news or perhaps it is just conincidental with…
Conor Foley former CEO of Worldspreads Worldspreads’ board and the Financial Services Authority were alerted to an alleged fraud at the group’s former Irish unit three months before Worldspreads filed for administration in March, citing accounting irregularities. The board of Marketspreads, formed by a 2009 buyout of Worldspreads’ Irish business, wrote to the Worldspreads board…
