Afren enters administration after oil price slump and boardroom strife
Oil and gas explorer fails to find financial backing to plug £132m funding gap caused by Brent crude’s international price nosedive Plummeting oil prices and internal boardroom upheaval have forced the London-listed Afren exploration company into administration. Crisis management consultants from AlixPartners were brought in after Afren failed to find financial backers to meet a […]
Liberty Global increases ITV stake to 9.9% but denies takeover plan
Move by Virgin Media owner could suggest it thinks a bid for the UK broadcaster is increasingly likely International cable operator Liberty Global has raised its stake in ITV to 9.9% but said it had no intention of taking over the UK’s biggest free-to-air commercial TV firm. Liberty, the owner of pay-TV company Virgin Media, […]
Enhancing resilience to climate change in southeast Asia
Insurance company Sompo Japan Nipponkoa Group joins the Business Call to Action with a commitment to enhance resilience of small-scale farmers through its weather index insurance Leading Japanese insurance company Sompo Japan Nipponkoa Group joined the Business Call to Action (BCtA) with a commitment to enhance the resilience of 30,000 small-scale farmers in southeast Asia […]
IMF will refuse to join Greek bailout until debt relief demands are met
Fund official confirms it will not sign up to any formal support programme unless eurozone creditors reach ‘explicit and concrete’ agreement The International Monetary Fund will refuse to participate in a new bailout for Greece until there is an “explicit and concrete agreement” on debt relief from the country’s eurozone creditors, an IMF official has […]
Portland icebreaker protesters cleared after judge fines Greenpeace $2,500 an hour
Authorities force back kayakers blocking the path of Royal Dutch Shell ship headed to Arctic oil drilling fields Authorities have forced protesters in kayaks from a river in Portland, Oregon, where they were trying to stop a Royal Dutch Shell icebreaker from leaving dry dock and joining an Arctic oil drilling operation. Police also tried […]
Activists continue high-wire Shell protest at Portland bridge – in pictures
Thirteen protesters rappelled off the St Johns bridge in Portland, Oregon, on Wednesday to protest the departure of the icebreaking ship Fennica, set to sail to the Arctic as part of the firm’s new drilling campaign Activists hang from bridge in Portland to block Shell’s Arctic vessel Continue reading… Source: The Guardian Circular Economy RSS
British cable firm HellermannTyton snapped up in drive for intelligent cars
US car part maker Delphi Automotive pays £1.1bn for HellermannTyton as it seeks to capitalise on growing trend for vehicles that connect to the web A US-listed car parts maker is paying £1.1bn to buy HellermannTyton, a British manufacturer of cable equipment, as it seeks to capitalise on the growing trend in intelligent vehicles. Delphi […]
After Hillary Clinton helped settle tax case, UBS increased foundation support
Clinton helped the IRS and UBS settle a tax evasion case in 2009 as secretary of state, and since then donations by UBS to the Clinton Foundation have grown Hillary Clinton’s overlap of private and political activities was once again in the spotlight on Thursday after a Wall Street Journal report that since Clinton helped […]
UK to back SBM Offshore despite bribery investigations
SBM Offshore says flagship oil project in Brazil to receive £34m of financial backing from UK The UK government will provide significant financial support to a major Dutch company despite the company being under investigation for its involvement in a multibillion-dollar corruption scandal in Brazil. Engineering company SBM Offshore – which is being investigated by […]
Banks face new PPI compensation bill over commission payments
Analysts estimate financial services industry could now have to repay £33bn – on top of the £20bn paid out over mis-selling The UK financial services industry could be facing a £33bn compensation bill for failing to disclose commission payments to customers, according to estimates by analysts. The tally would be greater than the payment protection […]