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Murdoch may shut down all British newspapers: Report

July 15, 2011 By admin

LONDON: Rupert Murdoch is reportedly considering the option of dispensing with the News International, the group that owns his British newspapers – The Sun, The Times and the Sunday Times, a media report said.

The media mogul discussed this possibility when he met his “inner circle” Wednesday, the Daily Express reported Thursday.

Sources said Murdoch was “locked in a series of meetings” to specifically consider the option, following the closure of the 168-year-old News of the World.

They said Murdoch was concerned to protect the reputation of the parent Ne

ws Corporation from further damage after the value of its shares went down.

While one said “Murdoch has the ruthlessness to amputate the arm that is threatening the rest of News Corporation,” another said a sale was now a “live possibility”.

Murdoch's American newspaper The Wall Street Journal also reported he was now examining selling News International.

“News Corp has informally explored whether there were any potential buyers for its UK newspaper unit,” it said.

Selling News International could fetch about 300 million pounds (around $484 million).

Filed Under: International News Tagged With: 22news, closure, daily express, London, media mogul, news of the world, Old News, ruthlessness

Sterling hits 5-month high vs dollar

July 28, 2010 By vani Leave a Comment

July 27 (Reuters) – Sterling extended gains against the dollar on Tuesday, rising to a five-month high, as investors tentatively stepped into risk-taking trades. The pound rose as high as $1.5530 GBP=D4, its highest since late February. It was last at $1.5518, up 0.2 percent on the day. (Reporting by London forex team)

Filed Under: International News Tagged With: dollar, Forex, GBP, investors, London, reuters, risk, rose, sterling, Trades

CNS Welcomes Go Markets to San Diego Datacenter

July 26, 2010 By vani Leave a Comment

SAN DIEGO, CA, Jul 25 (MARKET WIRE) —
Commercial Network Services is pleased to announce the arrival of
Australia’s leading FOREX broker to the CNS San Diego datacenter. Go
Markets has added a new server in the CNS San Diego datacenter to their
global MT4 network. The new server will result in better performance for
traders all over North America and most especially those hosted on a
Trader’s VPS in the CNS-SDCA datacenter, who will enjoy < 1ms latency to
the new server from their MT4 client terminals. The new server is the
latest addition to the growing Go Markets global presence, which now
includes servers in Singapore, Melbourne, Sydney, Perth and San Diego.

Commercial Network Services is the leading provider of VPS services
designed especially for FOREX traders and operates out of datacenters in
San Diego, New York City and London.

Contact:
Commercial Network Services
www.CommercialNetworkServices.com

Go Markets
www.gomarketsaus.com

Filed Under: International News Tagged With: Australia, Client Terminals, Commercial Network Services, datacenter, Datacenters, Forex Broker, Forex Traders, Global Presence, latency, latest addition, London, Melbourne, New York City, North America, perth, San Diego Ca, servers, Singapore, sydney, Vps

UPDATE 1-Petropavlovsk sees FY output at lower end of range

July 23, 2010 By vani Leave a Comment

LONDON, July 22 (Reuters) – Russian miner Petropavlovsk (POG.L) expects annual output to be at the lower end of the previously announced 670,000-760,000 ounce range after first-half gold production fell 26 percent on planned work at its Pioneer mine.

Gold production fell to 166,300 ounces from 224,600 ounces in the year-earlier period.

The London-listed company also announced that it acquired new mining licences in the Amur and Krasnoyarsk region of Russia.

The miner, which is considering a Hong Kong listing for its iron ore assets, last month launched its first Kuranakh iron ore mine. [ID:nLDE65N0WI]

The first product sales from Kuranakh are expected in August, it said on Thursday.

On June 7, Petropavlovsk said Hong-Kong based investors had agreed to take a $60 million equity stake in the group’s non-precious metals division, valuing the iron ore operations at $860 million. [ID:nLDE65G16Q]

(Reporting by Julie Crust; editing by Victoria Bryan)

Filed Under: International News Tagged With: 60 million, Amur, assets, Equity Stake, Gold Production, Hong Kong, investors, iron-ore, Krasnoyarsk Region, Listed Company, London, Ounce Range, Petropavlovsk, pioneer, Pog, Precious Metals Division, reuters, Russia, Victoria

Bulk of MF Global London fuel oil team quit -industry sources

July 23, 2010 By vani Leave a Comment

July 22 (Reuters) – Futures broker MF Global Holdings (MF.N) has lost eight brokers from their nine-man London fuel oil swaps broking desk, two industry sources said on Thursday.

The eight brokers resigned earlier this month, and are currently serving out their “garden leave”, an industry source told Reuters.

The remaining member of the team will be leaving soon, the sources added. A spokeswoman for the company in London declined comment on the departures.

“We can only confirm that the London fuel oil desk is still operating,” she said when asked if MF Global will close its fuel oil desk in London. (Editing by Ramthan Hussain)

Filed Under: International News Tagged With: departures, desk, Fuel Oil, Futures Broker, Global Holdings, hussain, industry source, industry sources, London, lost, mf global, oil industry, Oil Swaps, reuters, spokeswoman

Euro falls to session lows after Ireland rating cut

July 20, 2010 By vani Leave a Comment

July 19 (Reuters) – The euro fell on Monday after Ireland’s sovereign rating was cut by ratings firms Moody’s Investors Service to Aa2 with a stable outlook. [ID:nSYU010299]

The euro fell to a session low of $1.2872 EUR=. It was last at $1.2877, down 0.4 percent from late U.S. trade on Friday. (Reporting by London forex desk)

Filed Under: International News Tagged With: desk, euro, Forex, investors service, Ireland, London, lows, Ratings Firms, reuters, Stable Outlook

UPDATE 1-BP says cost of spill about $3.5 bln

July 13, 2010 By vani Leave a Comment

LONDON, July 12 (Reuters) – BP Plc (BP.L) (BP.N), which is making progress with a new containment system for its ruptured well in the Gulf of Mexico, said on Monday the cost of the spill had risen to about $3.5 billion.

It also said more than 52,000 payments have been made to claimants, totalling almost $165 million.

About 105,000 claims had been submitted, it added.

BP said as of July 10 the total amount of oil collected or flared by its containment systems was about 749,100 barrels.

It also repeated details about work on a new system that is due to capture almost all the oil spewing from the blown-out well. [ID:nN11145426] (Reporting by Eric Onstad; Editing by David Holmes)

Filed Under: International News Tagged With: bp, Bp Plc, claimants, Containment System, Containment Systems, david holmes, Gulf Of Mexico, London, Onstad, reuters, spill

Euro adds to broad gains, hits 2-mth high vs dollar

July 10, 2010 By vani Leave a Comment

July 9 (Reuters) – The euro hit a two-month high against the dollar and rose broadly on Friday as improving risk demand prompted European banks to pick up the currency.

The euro EUR= climbed as high as $1.2723 according to electronic trading platform EBS. London traders cited demand from a Swiss bank from around $1.2680 as helping to push the single currency higher.

It rose broadly, climbing to 112.69 yen EURJPY= and 83.84 pence against sterling EURGBP=D4, its highest versus both currencies since June 21. (Reporting by Naomi Tajitsu)

Filed Under: International News Tagged With: currencies, Currency Euro, dollar, electronic trading, Eurgbp, Eurjpy, European Banks, June 21, London, mth, Naomi, pence, reuters, risk, rose, Single Currency, sterling, Swiss Bank, trading platform, yen

UPDATE 1-EasyJet June passengers rise 9.4 pct

July 7, 2010 By vani Leave a Comment

LONDON, July 6 (Reuters) – British budget airline easyJet (EZJ.L) flew 9.4 percent more passengers in June year-on-year, its largest monthly increase since before flights were interrupted by a volcanic ash cloud from Iceland in April. The airline carried 4.54 million passenger in June, up from 4.15 million a year ago, while its load factor — a measure of how it fills its planes — increased 0.9 percentage points to 87.2 percent.

Passenger numbers at rival Ryanair (RYA.I) rose 15 percent in June, the Irish airline said on Monday, while they fell 11.1 percent at strike-hit British Airways (BAY.L). [ID:nWLA7687] [ID:nLDE6640HR]

(Reporting by Paul Sandle, Editing by Rosalba O’Brien)

Filed Under: International News Tagged With: British Airline, British Airways, Budget Airline Easyjet, flights, irish airline, London, o brien, Passenger Numbers, pct, percentage points, planes, reuters, Rosalba, Ryanair, Sandle, Volcanic Ash Cloud

UPDATE 1-Falkland Oil and Gas says drill results delayed

July 6, 2010 By vani Leave a Comment

LONDON, JULY 5 (Reuters) – British oil and gas explorer Falkland Oil and Gas (FOGL.L) (FOGL) said preliminary results for its Toroa well will be delayed by one week because of operational and weather problems.

“FOGL now expects to announce the preliminary results of the Toroa F61/5-1 well during the week commencing Monday 12 July 2010,” the company said in a statement on Monday.

FOGL is currently drilling in the Falklands alongside Rockhopper (RKH.L) and Desire Petroleum (DES.L) as part of a closely watched exploration programme that has sparked protests from Argentina, which claims sovereignty over the British-government islands [ID:nLDE6530AA].

FOGL has a 49 percent interest in the Toroa well. Shares in the company last traded 243.5 pence on Friday’s close, valuing the firm at around 350 million pounds. (Reporting by Golnar Motevalli; editing by Sarah Young)

Filed Under: International News Tagged With: Argentina, British government, British Oil, Desire Petroleum, Falkland Oil And Gas, Falklands, Fogl, London, Oil & Gas, oil and gas, pence, preliminary results, protests, reuters, Rkh, Rockhopper, Sarah Young, sovereignty, Weather Problems

EURO BONDS-BAT dual tranche bond

June 26, 2010 By vani Leave a Comment

June 25 (Reuters) – News, details on corporate bond issues in the European markets on Friday:

Stocks | Bonds | Global Markets

BAT (BATS.L)

Issue: Cigarette maker British American Tobacco is selling a dual-tranche bond, an official with one of the banks managing the sale said. The deal comprises a 10-year 600 million euro bond and a 30-year 275 million pound bond.

Managing banks: BNP Paribas, Deutsche Bank, HSBC, JP Morgan, Lloyds.

Rating: Moody’s Baa1, S&P BBB+ and Fitch BBB+

(London Corporate Finance: +44 207 542 8389)

Filed Under: International News Tagged With: banks, bat, bats, Bbb, Bnp Paribas, British American Tobacco, Cigarette Maker, Corporate Bond Issues, corporate finance, Deutsche Bank, Euro Bonds, European Markets, global markets, hsbc, JP Morgan, lloyds, London, Pound Bond, Reuters News, Stocks Bonds

Dollar falls to one-month low vs yen

June 25, 2010 By vani Leave a Comment

June 24 (Reuters) – The dollar fell to a one-month low against the yen on Thursday as the greenback stayed pressured by the U.S. central bank’s pledge to keep rates low for some time. The dollar fell to 89.63 yen JPY=, its lowest since late May.

“Price action in the likes of dollar/yen remains poor, my order board suggests some more weakness to come in dollar/yen with an initial target 89.10 yen,” one London-based spot trader said. (Reporting by Neal Armstrong and Tamawa Desai)

Filed Under: International News Tagged With: Desai, dollar yen, Greenback, initial target, June 24, London, Neal Armstrong, pledge, reuters, s central

UPDATE 1-Resolution sets sub-underwriting fee-source

June 25, 2010 By vani Leave a Comment

LONDON, June 24 (Reuters) – Sub-underwriters for Resolution’s (RSL.L) 2.75 billion purchase of AXA’s (AXAF.PA) British life insurance business will receive a commission fee of 1.75 percent, a person familiar with the matter said on Thursday.

Resolution said in a statement that leading shareholders had already underwritten 52 percent of the cash call, around 2 billion pounds, that will finance the acquisition.

The group is paying a total underwriting commission of 2.72 percent of the value of the new ordinary shares at the rights issue price.

(Reporting by Victoria Howley; Editing by David Cowell)

Filed Under: International News Tagged With: acquisition, Axa, David Cowell, Howley, insurance, June 24, Life Insurance Business, London, Ordinary Shares, reuters, Rsl, shareholders, underwriters, Underwriting Fee, Victoria

Greece 2010 deficit reduction on target – PDMA slides

June 23, 2010 By vani Leave a Comment

June 22 (Reuters) – Greece’s plan to reduce its budget deficit in 2010 is on target, prepared slides for the head of the country’s debt management agency (PDMA) at a bond conference in London showed on Tuesday.

Stocks | Bonds

The slides for PDMA chief Petros Christodoulou showed the government had already achieved a 40 percent reduction in deficit in first five months of 2010.

This was before the full implementation of the additional measures introduced in March and May, according to the slides. (Reporting by Emelia Sithole-Matarise and Ian Chua)

Filed Under: International News Tagged With: budget deficit, Chua, Debt Management, Deficit Reduction, Emelia Sithole, five months, Greece, implementation, London, Management Agency, measures, Pdma, Petros, Prepared Slides, reuters, Stocks Bonds, target

EURO BONDS-Europcar plans 7-year senior secured bond

June 23, 2010 By vani Leave a Comment

Mandate: The car rental firm is planning a 7-year 250 million euro senior secured note, callable after 4 years, according to two sources familiar with the deal. A roadshow is planned for June 22-24.

Managing banks: JP Morgan, Deutsche Bank

Expected ratings: Moody’s B2, S&P B+

(London Corporate Finance: +44 207 542 8389)

Filed Under: International News Tagged With: B2, banks, corporate finance, Deutsche Bank, Euro Bonds, Europcar, JP Morgan, London, mandate, roadshow, Secured Bond

UPDATE 1-M&B appoints Interserve’s Tim Jones in FD rejig

June 23, 2010 By vani Leave a Comment

LONDON, June 22 (Reuters) – British pubs and restaurant group Mitchells & Butler (MAB.L) has appointed Interserve’s (IRV.L) Tim Jones as finance director replacing Jeremy Townsend, who is joining Rentokil (RTO.L) as CFO at the end of August.

Meanwhile Interserve said Tim Jones, who has tendered his resignation to take up the role at M&B, will remain at Interserve “for an appropriate period” to ensure a smooth handover.

Interserve added it will be looking at both external and internal candidates.

(Reporting by Lorraine Turner)

Filed Under: International News Tagged With: British Pubs, cfo, Fd, Finance Director, handover, Internal Candidates, Interserve, Irv, London, Lorraine Turner, Mab, Rejig, resignation, Restaurant Group, reuters, smooth, Tim Jones

BP to raise $50 billion for oil spill costs: report

June 21, 2010 By vani Leave a Comment

(Reuters) – BP (BP.L) is planning to raise $50 billion to cover the cost of the largest oil spill in U.S. history, London’s Sunday Times reported without citing sources. The paper said BP planned to raise $10 billion from a bond sale, $20 billion from banks and $20 billion from asset sales over the next two years.

The oil major had said last week that it would suspend dividends and increase the pace of asset sales to $10 billion this year.

A spokesman for the group would not confirm any numbers on Sunday, when asked about the Sunday Times report.

(Reporting by Victoria Bryan; Editing by Jon Loades-Carter)

Filed Under: International News Tagged With: asset sales, banks, Bond 20, bp, Bp Oil, Citing Sources, Dividends, London, Oil Spill, pace, reuters, spokesman, Sunday Times, Victoria

BP to raise $50 bln for oil spill costs – report

June 21, 2010 By vani Leave a Comment

June 20 (Reuters) – BP (BP.L) is planning to raise $50 billion to cover the cost of the largest oil spill in U.S. history, London’s Sunday Times reported without citing sources. The paper said BP planned to raise $10 billion from a bond sale, $20 billion from banks and $20 billion from asset sales over the next two years.

Stocks | Mergers & Acquisitions | Bonds | Global Markets | Energy

The oil major had said last week that it would suspend dividends and increase the pace of asset sales to $10 billion this year. [ID:nN16172720]

A spokesman for the group would not confirm any numbers on Sunday, when asked about the Sunday Times report.

<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ For full coverage link.reuters.com/hed87k Breakingviews [ID:nLDE65H0GB] Insider TV link.reuters.com/cet72m Graphics

here Special Report: Wall Street touted BP [ID:nN18126202] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Victoria Bryan; Editing by Jon Loades-Carter)

Filed Under: International News Tagged With: asset sales, banks, bln, bonds, bp, Bp Oil, Citing Sources, Dividends, global markets, London, Mergers Acquisitions, Oil Spill, pace, reuters, spokesman, stocks, Sunday Times, Victoria

UPDATE 1-African Minerals says CRM investment completed

June 17, 2010 By vani Leave a Comment

LONDON, June 16 (Reuters) – African Minerals Ltd (AMIq.L) said a proposed 167.8 million pound ($260 million) investment by China Railway Materials (CRM) to develop the Tonkolili iron ore project has been completed following Chinese government approval.

As previously announced, CRM will take a 12.5 percent stake in African Minerals as a result of the investment and has the right to appoint a non-executive director to the board.

In February, African Minerals verified the size of the Tonkolili project in Sierra Leone at 10.5 billion tonnes of magnetite, making it the biggest deposit in the world.

China’s steel sector, which produced almost half the world’s steel output last year, is the biggest consumer of iron ore.

(Reporting by Julie Crust; editing by Victoria Bryan)

($1=.6465 POUND)

Filed Under: International News Tagged With: Amiq, China Railway, chinese government, CRM, Executive Director, government approval, Half The World, iron-ore, London, magnetite, minerals, Percent Stake, Railway Materials, reuters, Sierra Leone, steel output, steel sector, tonnes, Victoria, world china

UPDATE 1-Chaarat Gold says unaffected by Kyrgyz clashes

June 16, 2010 By vani Leave a Comment

June 15 (Reuters) – Chaarat Gold Holdings Ltd (CGH.L), a gold exploration company in Kyrgyzstan, said its operations in Bishkek and at site in the north west of the country have been unaffected by the ethnic violence in the south.

Shares in London-listed Charaat fell 7.1 percent on Monday as the number of people killed in ethnic clashes in the former Soviet republic rose to at least 124.

- For more on Kyrgyzstan click on [ID:nLDE65A145]

(Reporting by Julie Crust; editing by James Davey)

Filed Under: International News Tagged With: Bishkek, cgh, Ethnic Clashes, ethnic violence, Gold Exploration Company, Gold Holdings, Holdings Ltd, James Davey, London, reuters, Soviet Republic

Murdoch may shut down all British newspapers: Report

Sterling hits 5-month high vs dollar

CNS Welcomes Go Markets to San Diego Datacenter

UPDATE 1-Petropavlovsk sees FY output at lower end of range

Bulk of MF Global London fuel oil team quit -industry sources

Euro falls to session lows after Ireland rating cut

UPDATE 1-BP says cost of spill about $3.5 bln

Euro adds to broad gains, hits 2-mth high vs dollar

UPDATE 1-EasyJet June passengers rise 9.4 pct

UPDATE 1-Falkland Oil and Gas says drill results delayed

EURO BONDS-BAT dual tranche bond

Dollar falls to one-month low vs yen

UPDATE 1-Resolution sets sub-underwriting fee-source

Greece 2010 deficit reduction on target – PDMA slides

EURO BONDS-Europcar plans 7-year senior secured bond

UPDATE 1-M&B appoints Interserve’s Tim Jones in FD rejig

BP to raise $50 billion for oil spill costs: report

BP to raise $50 bln for oil spill costs – report

UPDATE 1-African Minerals says CRM investment completed

UPDATE 1-Chaarat Gold says unaffected by Kyrgyz clashes

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