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Monday newspaper round-up: ENRC, Vodafone, AB Foods...

Mon, 03rd Jun 2013 06:39

The Times cites an internal review at mining group ENRC which recommended the firm to dismiss 20 of its senior staff for fraud and discipline more than 60. "The alleged wrongdoing at the FTSE 100 miner included employees using company money to buy a guesthouse, a farming business and a horse farm, according to a leaked document," the paper says.Telecoms giant Vodafone is to increase UK capital expenditure by over 50% this year to nearly £1.0bn due to the launch of its 4G mobile serves and the integration of Cable & Wireless Worldwide, reports the Financial Times.The Telegraph says that AB Foods' Primark division is to take its "cheap chic" fashion to France after opening a flagship store later this year in Marseilles.The Guardian says that the next annual general meeting of retail group Wal-Mart will be met by protestors which include a survivor of the deadly Bangladeshi garment factory fire and former child labourer. The protests, which will call for a shake-up of top management, follow the company's refusal to sign a safety agreement in Bangladesh, which has drawn the support of other big retailers.PwC has said that retailers have been hit the hardest by a growing tax burden, which has risen by almost two-thirds since 2005, writes The Independent. The accountancy firm says that the UK's big retailers are now facing a total tax rate of 59%, compared with 39%among the rest of the 100 large companies it surveyed.Hopes for a recovery in the jobs market have been stoked after a record surge in new positions being made available by employers in May, according to The Independent. Citing the Reed Job Index, the paper writes that there were 8.0% more opportunities on offer in May than the month before, with new positions growing by 17%."Wells Fargo's chief executive has warned the Federal Reserve against forcing banks to hold more long-term debt, a measure that central bank officials believe will help end the phenomenon of institutions judged 'too big to fail'," the Financial Times says.BC
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24 Aug 2023 18:08

SFO drops 10-year probe into Rio Tinto, Eurasian Natural Resources

(Alliance News) - The Serious Fraud Office has dropped a 10-year probe into Rio Tino PLC and former FTSE 100 miner Eurasian Natural Resources Corp, saying it does not have enough evidence to prosecute.

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24 Nov 2013 16:46

Sunday newspaper round-up: Iran, RBS, Babcock

The interim deal between Iran and six world powers hammered out in the small hours of November 24th to curb the former's nuclear programme is a long way from perfect, but it meets two key tests. The first is that it will extend Iran's so-called "critical capability"?the time needed for it to produce

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12 Nov 2013 15:58

Potash slump raises stakes in Russia legal battle

* Eurochem seeks $800 mln from London-listed Shaft Sinkers * Seeks similar sum in Dutch suit from main shareholder IMR * Claim "nonsensical and fabricated" - Shaft Sinkers * IMR says will make robust defence * Eurochem stands by investments despite potash price slump Read more

7 Nov 2013 09:12

ENRC Says Sales Down, Production Up In Third Quarter, Ahead Of Delisting

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6 Nov 2013 15:26

FCA tightens listing rules to give minority shareholders more power

Minority shareholders in large companies are to be given more powers as the City regulator tightens listing rules in London. In a move which it hopes will "protect" small investors, the Financial Conduct Authority (FCA) has strengthened its listing rules to give shareholders "additional voting righ

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5 Nov 2013 18:22

UPDATE 1-British regulator to toughen London share listing rules

By Kylie MacLellan LONDON, Nov 5 (Reuters) - Britain's financial regulator is to bolster its stock market listing rules to better protect minority shareholders, after high-profile scandals at mining companies ENRC and Bumi left some investors nursing heavy losses. The Financial Conduc

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5 Nov 2013 13:10

UK regulator to toughen London share listing rules

By Kylie MacLellan LONDON, Nov 5 (Reuters) - Britain's financial regulator is to bolster its stock market listing rules to better protect minority shareholders, after high-profile scandals at mining companies ENRC and Bumi left some investors nursing heavy losses. The Financial Conduc

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25 Oct 2013 17:31

ENRC Non-Executives Resign Following Eurasian Resources Offer Becoming Unconditional

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25 Oct 2013 10:19

Founders apply to delist Kazakh miner ENRC

(.) LONDON, Oct 25 (Reuters) - The founders of Kazakh miner ENRC , whose bid to buy out minority shareholders went unconditional on Friday, have applied to UK regulators and the London Stock Exchange to delist the company. The trio of billionaire founders, who launched the bid alongsi

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23 Oct 2013 13:24

ENRC proposes "quarantine" for foreign firms eyeing UK listing

* Suggests probationary period for companies seeking to join UK main market * Says it was not allowed enough time to shift from "private, Kazakh-based company" * UK parliamentarians have called for evidence from UK-based oil, mining industry * ENRC, Bumi among companies expected

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4 Oct 2013 11:15

Kazakhmys Accepts Offer For Its 26% Holding In ENRC

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4 Oct 2013 10:52

UK WINNERS & LOSERS: Carpetright Slips As Tate & Lyle Leads Blue-Chip Gainers

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26 Sep 2013 08:57

OFFICIAL CORRECTION-ENRC offer deadline extended to 6 Oct

LONDON, Sept 26 (Reuters) - * Rpt-ENRC bidders say have shares representing approximately 95.99 per cent. of the issued share capital of ENRC * Official Correction-ENRC bidders say offer is being extended and will remain open for acceptance until 1.00 P.M. (London time) on 6 October 2013 *

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26 Sep 2013 08:50

Takeover Deadline For ENRC Extended, Shareholding Increased

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20 Sep 2013 16:39

London close: Stocks hit by Bullard comments as post-Fed rally fades

The exuberant post-Fed mood quickly faded on Friday with comments from one US policymaker dampening stocks before the close of trade. Risk appetite was also scaled back as caution set in ahead of the German elections at the weekend with the outcome still highly uncertain. The FTSE 100 finished 28.

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