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Share Price: 510.40
Bid: 509.40
Ask: 509.50
Change: -5.40 (-1.05%)
Spread: 0.10 (0.02%)
Open: 516.30
High: 516.60
Low: 506.10
Prev. Close: 515.80
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Friday newspaper round-up: SFO, EU, BP

Thu, 23rd Oct 2014 18:49

The Serious Fraud Office (SFO) has been forced to ask the government for an additional £26.5m because of ongoing fraud investigations into Barclays, Rolls-Royce and Libor rigging, the Guardian reported on Friday.SFO chief David Green said that the agency was handling the "most demanding caseload the SFO has ever shouldered"."We have blockbuster or ringfenced funding to protect our most expensive investigations," Green said."The arrangement recognises that the SFO is demand-led and honours the pledge that on my watch the SFO will never turn down any investigation simply on grounds of cost. The mechanism is not perfect, but it does the job."The European Union (EU) has told Britain to pay an extra €2.1bn to the EU budget over the next couple of weeks, as its economy performed better than other EU nations since 1995, the Financial Times reported.To compensate for its relative prosperity over the last two decades, the UK will have to make a top-up payment by 1 December, which amounts to almost a fifth of the country's net contribution last year, while France will receive a €1bn refund."It's not acceptable to just change the fees for previous years and demand them back at a moment's notice," a Downing Street source said.Irish drinks company C&C has seen an offer for Spirit Pubs Group rejected late on Thursday, the Daily Telegraph reported.C&C, best known for producing Magners cider as well as manufacturing Bulmers in Ireland and Tennent's lager, is understood to have approached Spirit with a 115p per share offer, higher than Greene King's planned £723m takeover.On Monday, Spirit announced that it would recommend a proposed 109.5p offer from Greene King, whose brands include Loch Fyne and Hungry Horse, having previously rejected a 100p per share approach on 15 September.Spirit confirmed late on Thursday that it had rejected C&C's offer.Oil major BP announced its first North Sea oil discovery since 2011 yesterday, which may hold 50m barrels of crude. Initial tests generated a flow rate of 5,350 barrels a day, which suggests the reservoir is sufficiently large for commercial exploitation. The company's regional president described it as a perfect example of the need for collaboration and increased exploration so as to realise the remaining potential of the North Sea.In parallel the firm announced a significant discovery in the Gulf of Mexico alongside Chevron, The Times reports.Britain is right the EU has finally conceded, a year after Westminster's Business Taskforce suggested 30 ways the EU could make it easier for UK companies to operate. Well, on at least six of those points on how to cut red tape, and they have already been adopted. Many of the rest have seen some support from the EU however. In exchange, Europe has introduced 1,000 new financial regulations, according to The Daily Telegraph.
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8 Jan 2024 12:00

LONDON MARKET MIDDAY: FTSE 100 underperforms in muted start to week

(Alliance News) - Stock prices in London traded lower at the start of the week, with oil firms weighing on then FTSE 100, as investors look ahead to the week's key inflation prints.

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8 Jan 2024 08:40

LONDON MARKET OPEN: Commodity-heavy FTSE 100 heads lower; Shell slips

(Alliance News) - The FTSE 100 kicked off the week on a downbeat note at Monday's market open, amid share price falls for commodity stocks.

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6 Jan 2024 12:29

BP investors want oil firm to approach BAE chief as CEO- Sky News

Jan 6 (Reuters) - Some of BP's largest shareholders have urged the company to approach BAE Systems Chief Executive Charles Woodburn about becoming the British oil giant's next boss, Sky News reported on Saturday, citing unidentified sources.

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6 Jan 2024 11:38

BP investors want oil behemoth to target BAE chief as CEO- Sky News

Jan 6 (Reuters) - Some of BP's largest shareholders have urged the company to approach Charles Woodburn, the BAE Systems chief executive, about becoming the company's next boss, Sky news reported on Saturday. (Reporting by Devika Nair in Bengaluru; Editing by Jan Harvey)

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4 Jan 2024 16:54

LONDON MARKET CLOSE: Stocks up ahead of US nonfarm payrolls

(Alliance News) - Stock prices in London closed higher on Thursday, as investors eye the latest US non-farms data.

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4 Jan 2024 13:07

London close: Stocks rise as US jobless claims slow

(Sharecast News) - London markets showed mixed performance on Thursday as investors digested the latest UK services and mortgage data and a fall in jobless claims across the pond.

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4 Jan 2024 12:09

LONDON MARKET MIDDAY: Retailers Next and JD Sports bookend FTSE 100

(Alliance News) - Stock prices in London were slightly higher at midday on Thursday, with the FTSE 100 looking set to snap the two-day losing streak it suffered at the start of the year.

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4 Jan 2024 09:31

LONDON BROKER RATINGS: Jefferies cuts Tullow; Berenberg likes Volex

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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4 Jan 2024 08:58

LONDON MARKET OPEN: Next leads buoyant FTSE 100 amid services PMIs

(Alliance News) - Stock prices in London opened up on Thursday, amid a slew of services PMI data, including for the UK, while reacting to the latest data from China.

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3 Jan 2024 18:37

Equinor, BP cancel contract to sell offshore wind power to New York

Jan 3 (Reuters) - European energy firms Equinor and BP terminated their agreement to sell power to New York state from their proposed Empire Wind 2 offshore wind farm, citing rising inflation, higher borrowing costs, and supply chain issues.

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3 Jan 2024 17:02

Equinor and BP cancel contract to sell offshore wind power to New York

Jan 3 (Reuters) - Equinor and BP terminated on Wednesday their agreement to sell power to New York state from their 1,260-megawatt Empire Wind 2 offshore wind farm, citing rising inflation, higher borrowing costs, and supply chain issues.

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3 Jan 2024 16:52

LONDON MARKET CLOSE: Stocks down ahead of US Fed minutes

(Alliance News) - Stock prices in London closed lower on Wednesday, as investors nervously look ahead to the latest US Federal Reserve meeting minutes.

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3 Jan 2024 08:18

Chill Brands plots product launches and looks to ease regulatory worry

(Alliance News) - Chill Brands Group PLC on Wednesday said its vape products will soon launch in retail stores, including WH Smith PLC travel locations, and it reported a trio of initiatives to help soothe regulatory scrutiny.

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2 Jan 2024 16:58

LONDON MARKET CLOSE: Stocks down amid disappointing manufacturing data

(Alliance News) - Stock prices in London closed lower on Tuesday, after the year was started with some disappointing data about the UK and US manufacturing sectors.

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29 Dec 2023 13:01

LONDON MARKET CLOSE: UK equities outclassed by other markets in 2023

(Alliance News) - Stock prices in London closed mixed on Friday, the final trading day of 2023, as the annual returns from UK equities were outshone by international markets.

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