BEST OF THE BROKERS

first_img BEST OF THE BROKERS whatsapp KCS-content whatsapp Share Thursday 19 August 2010 8:30 pm Show Comments ▼ CLOSE BROTHERSUBS resumes coverage of Close Brothers with a “neutral” rating and 680p price target. Sees potential upside from the group’s drive to rationalise its businesses and expects the banking division to continue to do well but believes this is already reflected in the share price. However, says the asset management business has potential.UNITED UTILITIESJP Morgan Cazenove downgrades United Utilities to “neutral” from “overweight”. Expects earnings per share to be downgraded due to a triple whammy of earnings dilution from asset disposals, the impact of higher property rates and higher interest costs. Believe the shares will not rise further without fresh M&A activity.ADECCOGoldman Sachs downgrades Adecco to “sell” saying it expects its recent top-line growth to plateau this quarter due to recent negative data on employment trends in the US and France. Also expects lower economic growth to weigh on forecasts for next year. Advises buying Michael Page, Hays, or Robert Walters instead. 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 ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULLlast_img read more

Vodafone will appeal Indian tax decision

first_img Show Comments ▼ Vodafone will appeal Indian tax decision The lower court ruled that the Indian tax system has jurisdiction over tax bills in cross-border mergers.Vodafone, which is fighting a tax bill in India from its 2007 purchase of Hutchison Whampoa’s mobile business in the country, filed an appeal with the Bombay High Court in June challenging the tax department’s jurisdiction over the bill.The court dismissed its petition but said Indian tax authorities would not issue a final order to Vodafone for the next eight weeks, even though tax proceedings would continue. Vodafone was free to separately raise with them the issue of its liability to deduct tax on the transaction, it said.After the court ruling, Vodafone said that it would consider its next steps, which included the option of an appeal to the Supreme Court.Vodafone, which paid $11.1bn (£7.18bn) for the deal with Hutchison, has not said how much the authorities were seeking but it is estimated at around $2.6bn.Indian tax authorities have said Vodafone’s deal was liable for tax because most of the assets were based in India and, under Indian law, buyers have to withhold capital gains tax liabilities and pay them to the government. Vodafone has earlier said Indian law did not require it to deduct tax and that capital gains tax is usually paid by the seller. Tags: NULL whatsapp More From Our Partners A 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.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.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.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org KCS-content Share Vodafone has filed an appeal with India’s Supreme Court after its petition over a tax feud with authorities was dismissed. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald whatsapp Tuesday 14 September 2010 8:57 pmlast_img read more

The housebuilding chief executive who can see clear blue skies ahead

first_img KCS-content whatsapp Sunday 26 September 2010 10:11 pm whatsapp More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Show Comments ▼ FOR A MAN who took over a housebuilder in the middle of a devastating financial and property crisis, David Ritchie, the chief executive of Bovis Homes, looks remarkably relaxed.But it is certainly fair to say the pain has eased in recent months for the firm, even though Ritchie remains in the middle of turning it around. Bovis stopped building altogether at one stage and its new CEO has slashed its costs by half since he took over in July 2008, in the depths of the housing market collapse and recession. Ritchie, who has worked at the firm for 12 years, took over the baton from Malcolm Harris, who moved up to become chairman when he hit 60. “We have now resized the business,” says Ritchie, who has a soft-spoken Falkirk accent. “We are on the third phase of recovery for the business, which is to aggressively buy up land. If we are right this is the bottom of the market.”He says that over the next two years “we want to buy twice as much land as we use. This is a great opportunity to buy a key raw material at the bottom of the cycle.”Ritchie is speaking in his large modern office at the firm’s headquarters in New Ash Green, Kent. He is short and so lean he could pass for a long distance runner, but the married father-of-two says the most strenuous things he does is cut the grass on his motorised lawn mower and chase after his young sons at the weekends.The Bovis Homes boss says that land tracks house prices in a ratio of around three to one. If house prices move up one per cent, land will move up three per cent, and vice versa. So since national house prices are on average 20 per cent below their summer 2007 peak, this makes land cheap to buy. Ritchie’s thinking is the more land it snaps up now the greater the chance it will have to build profitably when the market picks up. So far this year Bovis, one of the UK’s smallest listed housebuilders, has added 1,874 new plots, boosting its landbank to 13,113 units. The firm is in negotiations to buy another 3,000 plots.Bovis is a mid-market builder that typically sells three and four bedroom brick houses on greenfield sites on the edge of towns or villages in the south of England. In the last year, 80 per cent of the land it bought was in the south – in places like Bristol, Reading and Cheltenham. Ritchie sold a lot of houses in 2009, cut costs, and carried out a £60m share placing last September. This saw him move Bovis into a position of having £112m in the bank with £150m of undrawn bank debt to call on. Last month, the housebuilder reported a first half profit of £3.5m, an improvement from a loss of £8.6m a year ago. It sold 803 houses, up from 754 in the same period 12 months ago. However, the average price at which the properties were sold fell one per cent to £158,500 from £159,700, mostly due to Bovis selling a higher percentage of its homes as cheaper social housing. The firm also plans to reinstate its dividend at the end of this year after suspending it in the housing crisis almost two years ago.Ritchie adds that if house prices fell a further five per cent he would still be “comfortable” with the profit the business made. However, he thinks prices will actually remain stable “for quite some time.” He adds: “I see a U-shaped recovery. But the question is how long the bottom of the U will be. I feel now it will be longer than I had thought a year or so ago.” A recent Savills report thought there would be no sustained recovery in the housing market until 2012, although Ritchie won’t be drawn on when he thinks the market will pick up.Still, Bovis has a long way to go to get back to the levels it was at before the market collapse in early 2007 when it sold 50 houses a week. Currently it sells 27.The recession has had a profound effect on mortgage approvals, which ran to 110,000 in August 2007, but plummeted to 23,000 in December 2008. Currently, they are running at between 45,000 and 50,000 a month.In was during this freefall that Ritchie was handed the top job two years ago. “By the middle of 2008 it was clear that we were looking at something very serious indeed,” he says.Ritchie explains: “We began a three-step programme. The first step we had to take was to set about stopping spending money. We simply stopped building. In an ordered way, we completed what we were contracted to finish. Other houses we made weather-proof and then halted.”The chief executive also took an axe to costs, cutting staff numbers from 1,000 to around 400, and cutting overheads in half to £25m.In 2008 the firm doubled the percentage of cheaper social housing homes it usually sold to 30 per cent “because something like 90 per cent of our private customers disappeared.” This is because Bovis targets first and second time buyers, who usually need large mortgages. The business made a pre-tax loss of £78m in 2008. By the start of 2009 Ritchie had cut costs, but he was still left with 1,000 unsold homes and 2,000 partly built houses on his books. Ritchie says: “The second step was to release the cash we had in the business. We had to sell houses, which we did, not for as much as we would have liked to but those were the market conditions that prevailed.” In that year the business only built 800 houses, but sold 1,800. This year the firm plans to sell 1,900 homes.This brings us to the third step in Ritchie’s plan, began at the start of 2010, which is to buy up cheap land to take advantage of the recovery when it comes.But for Ritchie a rise in housing activity is more important than simply a rise in prices. He says: “It is all about getting people to get access to mortgages. That’s what we need to build a bigger business.”As an example of how tough things are for first time buyers, Ritchie says that in the last quarter of 2006 around 8,000 first-time buyers were able to get mortgages of 90 per cent or more. In the same period in 2009 that figure fell to “less than 100.”Bovis attempted to kick start the first time buyer market by entering into a deal with the Woolwich in June. The pair launched a 90 per cent mortgage, which will see Bovis pay for the mortgage insurance cover if buyers lose their jobs for up to 12 months. “The idea is that we will share some of the pain. But the result is that only we are promoting 90 per cent mortgages.”Ritchie had no figures for the take up so far, saying it takes a while for schemes like this to bed in. He adds he expects to see “a number of real prospects coming in over the next few months.” On the current state of the housing market Ritchie says he feels “okay about life. Any business that has cash in the bank today is well placed.”But investors are sceptical, and Bovis, along with most other housebuilders has seen its market values fall beneath its net asset values for large parts of the year. In Bovis’ case the value of its net assets is currently £692.8m, while its market capitalisation is around £515m. Ritchie says: “Shareholders buy our Bovis story, but they are not so sure about the housing market, so we are saying to them: ‘When you come back to this sector make us your housebuilder of choice.’ I can understand their nervousness.”Ritchie says the coalition government “is committed to building more houses”. The October spending review is likely to see central government compel local councils to streamline their applications for planning permission and relax the amount of social housing a housebuilder is forced to allocate to a project. However, all the indications are that housing activity will trail behind the 2007 peaks for years to come. House prices are falling again, according to Rightmove, which will eventually make homes more affordable but could hit housebuilders. One thing is clear: Ritchie, and the investors in his sector, are playing a long game. It will be several years before we know whether their bet has paid off.CV | DAVID RITCHIEAge: 41Work: Appointed chief executive in 2008, Ritchie was group managing director from 2007 to 2008 and group finance director from 2002 to 2006. He joined Bovis Homes in 1998 as the group’s financial controller. He was previously employed by KPMG and was involved in advising clients on acquisitions, disposals and flotations as well as audits.Education: Reading University, read economics and accountingFamily: Married, with two childrenLives: Just outside Tunbridge, KentHobbies: Works in his garden at weekends center_img Tags: NULL The housebuilding chief executive who can see clear blue skies ahead 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 PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Sharelast_img read more

BEST OF THE BROKERS

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof KCS-content BEST OF THE BROKERS Share LUKOILUBS sees Lukoil as cheap stock with a number of positive short-medium term catalysts not yet priced in. The broker, which reiterates a “buy” rating for the Russian energy group, says on a relative basis, Lukoil is starting to receive tax breaks and is probably set to acquire the most desired upstream assets at a reasonble price.VIRGIN MEDIALike all telecoms companies, Virgin Media is heavily operationally geared with high gross margin services layered on top of fixed network running costs, according to JP Morgan Cazenove. The broker forecasts 70 per cent of additional revenue added in 2010-15 to drop through to cash flow and gives Virgin Media an “overweight” rating.INTERCONTINENTAL HOTELSInterContinental Hotels has seen asset ownership diminish, while growth is skewed more to Asia, says Credit Suisse. An “outperform” rating is retained by the broker, which has increased the price target for the hotels group to 1343p. The broker expects concerns about the US system to be compensated by Asian profit impact. whatsapp Show Comments ▼ whatsapp Monday 27 September 2010 7:49 pm Tags: NULLlast_img read more

Intel offers upbeat sales forecast for fourth quarter

first_img whatsapp 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 A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald KCS-content whatsapp Share Tuesday 12 October 2010 9:13 pm INTEL forecast strong fourth-quarter sales and margins as resilient demand from emerging markets and corporations offset weak consumer spending, raising hopes that the technology sector could end 2010 on a strong note.Intel’s forecast for a better-than-expected December quarter gross margin of around 67 per cent affirmed hopes that higher-end spending on servers or data centres may help offset the loss of computer sales to a booming tablet segment.The world’s largest chipmaker forecast revenue of $11bn (£7bn) to $11.8bn in the final three months of 2010, in line with analysts’ expectations of $11.32bn.Its third-quarter net profit was $2.96bn, or 52 cents a share, versus $1.86bn in the year-ago quarter. That was higher than the 50 cents per share expected by analysts. Revenue in the quarter ended 25 September was $11.1bn – slightly above the $10.99bn expected. Intel shares rose one per cent in after-hours trading. center_img Intel offers upbeat sales forecast for fourth quarter Show Comments ▼ More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.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.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comConnecticut man dies after crashing Harley into live bearnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Tags: NULLlast_img read more

Appointment of new boss proves government is serious about sale

first_imgWednesday 13 October 2010 8:04 pm Appointment of new boss proves government is serious about sale THE appointment of Moya Greene as the Royal Mail’s new chief executive reveals the government’s hard-nosed approach to privatising the business, whatever the objections of the Communication Workers Union.Greene has a great deal of experience in such matters overseeing the privatisation of Canada’s national rail network and the deregulation of its airline industry as a civil servant in the 1990s before moving into the private sector. She was appointed chief executive of Canada Post in 2005, beginning a programme of cost cutting that included cutting absenteeism, increasing automation and improving industrial relations. Canada Post’s profits trebled to C$281m (£183m) during her four years in charge, despite a 5.1 per cent drop in revenues. But the Canadian Union of Postal Workers said injuries went up 15.4 per cent and grievances increased 59.3 per cent. Tags: NULL KCS-content Share 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp whatsapp Show Comments ▼last_img read more

Basel committee eases deadlines on bank liquidity rules

first_imgTuesday 19 October 2010 5:10 am The Basel Committee of global banking supervisors said both of its new liquidity standards will have soft phase-ins instead of fixed, mandatory deadlines.The new rules have faced fierce opposition from banks, which say they would struggle to comply and will welcome the committee’s easier stance towards their implementation.The committee had already agreed to a soft phase-in for its net stable funding ratio, which covers a bank’s longer-term liquidity.On Tuesday it extended such a phase in to its liquidity coverage ratio as well, which refers to a lender’s short-term liquidity situation and will require a bank to hold enough highly liquid assets to cover 30 days of net cash outflows.“The Committee agreed on key details of the liquidity coverage ratio,” the committee said following a meeting in South Korea. “It confirmed that both the LCR and the net stable funding ratio will be subject to an observation period and will include a review clause to address any unintended consequences,” the Committee said. John Dunne whatsapp Show Comments ▼ Basel committee eases deadlines on bank liquidity rules Tags: NULL Share More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapplast_img read more

Sportingbet’s merger talks with Unibet off

first_img Sportingbet’s merger talks with Unibet off Tuesday 16 November 2010 8:52 pm SPORTINGBET said yesterday that Swedish rival Unibet had withdrawn from merger talks.The online betting company, however, remains in talks with several other parties over potential deals. The companies had held talks to create a merged group worth £600m. Sportingbet was seen as a likely target in the wake of the industry-transforming merger between PartyGaming and Austria’s bwin, which piled pressure on rivals and traditional bookmakers to keep pace. In September, Sportingbet came under the spotlight for acquisitions again after it agreed to pay $33m (£20.7m) to settle a US investigation over alleged illegal internet gambling.A 2006 US law effectively outlawed internet gaming. In settling, Sportingbet agreed to cooperate with the government probe, and make employees available for interviews.Sportingbet has long been considered an attractive M&A play in the consolidating betting sector, especially after it settled in the US. The company has confirmed that it “has had and will continue to have discussions with different parties in relation to a variety of potential opportunities”. whatsapp Share whatsappcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutionmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver Healththedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content Tags: NULLlast_img read more

BEST OF THE BROKERS

first_img KCS-content Tags: NULL 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 PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAdventure CrunchHere Are the Most Famous Pro Wrestlers From the Past TodayAdventure CrunchFinance BLVDThis Star from ‘Gilligan’s Island’ is 101 & lives a humble life nowFinance BLVDArticles StoneLittle Boy Brings $2 Painting To Antiques Road Show, Not Realizing Its WorthArticles Stonethedelite.comNetflix Cancellations And Renewals: 2021 Updatethedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Center whatsapp 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap BEST OF THE BROKERS whatsappcenter_img Show Comments ▼ MARKS & SPENCERExecution Noble has upgraded the supermarket to “buy” with an upgraded fair value price of 475p, following its research on M&S customers. The broker sees the firm’s new strategy as a real driver for sales growth, with the food business as a particularly strong opportunity. It adds that the brand could also cash in on the homewares market, which is ripe for consolidation.TRINITY MIRRORAltium Securities rates the media group “buy” with a reduced target price of 145p. The broker has trimmed its pre-tax profit forecasts for 2011 and 2012 by four and eleven per cent respectively, following a more cautious revenue outlook in last week’s management statement. Altium still views the shares as cheap, but remains wary for future years until more concrete signs of recovery emerge.KELLER GROUPBNP Paribas rates the construction firm “neutral” with a reduced target price of 650p. The broker believes there is further pressure on margins from continued slow demand in North America and Europe, with the company forced to cut costs. However, it adds that Keller can maintain its dividend payments despite a 10 per cent earnings per share shortfall, due to its recently-reduced net debt levels. Thursday 18 November 2010 7:27 pm Sharelast_img read more

Petrofac pumps £33m into gas storage scheme

first_img Tags: NULL Petrofac pumps £33m into gas storage scheme whatsapp Monday 6 December 2010 6:52 am Share Petrofac has bought a 20 per cent share in the Gateway gas storage scheme in the Irish Sea.Gateway aims to eventually add almost 30 per cent to the nation’s total gas storage capacity – which has been well below the level required in the UK. Storage capacity is currently just five per cent of Britain’s annual demand.The project will see storage caverns in a natural salt structure below the seabed 15 miles off the coast of Barrow-in-Furness.When completed in 2016, these will enable gas to be delivered, stored and then returned to the UK’s national transmission system.Gateway is led by Stag Energy directors George Grant and Andrew Stacey, who manage the project on behalf of shareholders which include private investors and financial institutions.Petrofac managing director Rob Jewkes said: “We are entering the project at this stage to bring confidence to the investor group that execution and delivery objectives for the complete facilities can be met.” More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Show Comments ▼ whatsapp John Dunne last_img read more