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Share Price: 460.65
Bid: 456.00
Ask: 465.00
Change: 0.00 (0.00%)
Spread: 9.00 (1.974%)
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Tuesday newspaper round-up: Sports Direct, Tesco, BP

Tue, 10th Jun 2014 07:28

The board of Sports Direct has reignited a row with its minority investors over executive rewards by creating a £200m bonus fund that conceals a likely payout for Mike Ashley, its billionaire founder. Shareholders reacted with indignation as the sportswear chain came up with its third plan in two years for a performance-related payout scheme involving Mr Ashley. Two months ago, a scheme offering a £73m payout to the founder was withdrawn after failing to win enough support. - The Times Tesco has outlined its biggest assault yet on Britain's high street banks by launching its first current account, 17 years after it entered financial services. The retailer's banking division, which boasts 6m customers through its sales of mortgages, savings accounts and insurance, plans to exploit its network of stores and incentives such as rewards for Clubcard subscribers to encourage customers to move away from the major lenders. - The Daily Telegraph BP has lost a last-ditch legal appeal to prevent having to pay out hundreds of millions of dollars of what it claims are "fictitious" and "absurd" compensation claims over its Gulf of Mexico oil spill. The US Supreme Court last night rejected the oil company's application to keep in place an injunction blocking contested payments. A New Orleans court had last week lifted the injunction, which had been in place since December, to give BP time to make its case over the compensation deal it struck two years ago at the heart of the dispute. - The Times Fears among Britain's top lenders that the recent rapid house price growth could lead to a crash are now close to levels seen during the Great Recession, according to a Bank of England survey. The Bank's twice-yearly Systemic Risk Survey showed 40% of UK banks, building societies and asset managers said the risk of property price falls posed a "key risk" to the economy, compared with 36% of respondents last November and just 14% in the second half of 2012. - The Daily TelegraphThe boss of SSP played down recent "blips" in the stock market yesterday as the airport catering specialist served up appetising profits in advance of a possible £2bn flotation. Kate Swann, the former WH Smith Chief Executive who took the helm of SSP last year, acknowledged that the market for new issues had been volatile but said that the "fundamental strengths" of the business would prevail. - The Times Supermarkets are being warned they are locked in a "race to the bottom" in a new report showing that a food price war dragged sales lower last month. The British Retail Consortium said like-for-like food sales fell by an annual rate of 2.2% during March to May, in contrast to a year earlier when turnover grew 0.7%. On one measure, it was the worst quarter for food sales since BRC records began in 2008. Non-food sales were better, buoyed by demand for TVs for the World Cup and summer clothes. - The GuardianAB
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28 Dec 2023 09:02

LONDON MARKET OPEN: China-exposed firms rise as stocks drift higher

(Alliance News) - Stock prices in London opened slightly higher on Thursday, with investors feeling quietly optimistic on the penultimate day of trading for 2023.

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23 Dec 2023 12:30

Poland's Orlen files Venture Global LNG arbitration case -Bloomberg News

Dec 23 (Reuters) - Polish oil and gas firm Orlen has lodged an arbitration case against Venture Global LNG which alleges that the U.S. exporter of liquefied natural gas was not honouring a long-term contract, Bloomberg News reported on Saturday.

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22 Dec 2023 19:54

More ships carrying oil avoid Red Sea route

HOUSTON, Dec 22 (Reuters) - At least two ships transporting oil or oil products between the U.S. Gulf Coast and India on Friday were re-routing from the Red Sea, according to vessel tracking data, as a U.S.-led coalition geared up to help safeguard vessels from attacks by Yemen's Houthi militants.

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22 Dec 2023 19:29

More ships carrying oil avoid Red Sea route

HOUSTON, Dec 22 (Reuters) - At least two ships transporting oil or oil products between the U.S. Gulf Coast and India on Friday were re-routing from the Red Sea, according to vessel tracking data, as a U.S.-led coalition geared up to help safeguard vessels from attacks by Yemen's Houthi militants.

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22 Dec 2023 19:24

Equinor takes stakes in 2 Angola oil exploration blocks

OSLO, Dec 22 (Reuters) - Equinor has secured stakes in two more oil exploration blocks offshore Angola as it seeks to extend its presence in the country, the head of the Norwegian company's Africa operation said in a statement on Friday.

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22 Dec 2023 19:20

Equinor takes stakes in 2 Angola oil exploration blocks

OSLO, Dec 22 (Reuters) - Equinor has secured stakes in two more oil exploration blocks offshore Angola as it seeks to extend its presence in the country, the head of the Norwegian company's Africa operation said in a statement on Friday. (Reporting by Terje Solsvik, editing by Essi Lehto)

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22 Dec 2023 11:00

US offshore wind poised for success next year after turbulent 2023

NEW YORK, Dec 22 (Reuters) - The U.S. offshore wind industry is eying a brighter 2024, with work expected to start on several projects following a year marked by stalled developments and billions of dollars in write-offs.

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20 Dec 2023 18:16

US Gulf of Mexico oil auction is largest since 2015

Dec 20 (Reuters) - A Biden administration auction of Gulf of Mexico drilling rights raised $382 million on Wednesday as oil companies claimed offshore acreage for what is set to be the last time until 2025.

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20 Dec 2023 17:37

US Gulf of Mexico oil auction raises $382 million in high bids

Dec 20 (Reuters) - A Biden administration auction of Gulf of Mexico drilling rights raised more than $382 million on Wednesday, the highest total for a federal offshore oil and gas auction since 2015.

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20 Dec 2023 17:00

Sustainable Finance Newsletter - This time it's different for US SEC climate rules

Dec 20 (Reuters) -

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20 Dec 2023 15:36

Shipping container price surge to reverse due to overcapacity -logistics platform

MUMBAI, Dec 20 (Reuters) - Higher prices for containers used by merchant ships caused by attacks on Red Sea shipping are likely to fall back in three to nine months to levels seen in early December due to market overcapacity, the head of an online container logistics platform said on Wednesday.

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20 Dec 2023 15:05

London close: Stocks rise as UK inflation slows further

(Sharecast News) - London's stock markets saw a notable upswing on Wednesday, driven by encouraging data revealing a greater-than-anticipated slowdown in UK inflation for November.

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19 Dec 2023 20:11

Norwegian Johan Sverdrup crude prices soar on Red Sea shipping issues

LONDON, Dec 19 (Reuters) - Prices for Norway's Johan Sverdrup crude soared on Tuesday, a move traders said could be linked to mounting concerns around the security of crude flows into Europe following maritime attacks by Yemen's Houthis in the Red Sea.

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19 Dec 2023 19:10

US launches Red Sea force as ships reroute to avoid attacks

Crisis is spillover from Israel-Hamas war

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19 Dec 2023 17:14

Shippers mask positions, weigh options amid Red Sea attacks

Dec 19 (Reuters) - A number of container ships are anchored in the Red Sea and others have turned off tracking systems as traders adjust routes and prices in response to maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.

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