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Wednesday newspaper round-up: Iran, Italy, global economy

Wed, 02nd Oct 2013 07:23

Peter Voser, Chief Executive of Royal Dutch Shell, and Christophe de Margerie, his counterpart at France's Total, used the Oil & Money conference in London on Tuesday to highlight the potential energy windfall if sanctions preventing international oil companies from dealing with Tehran were lifted. "Longer term, Iran's oil and gas resources will have to be developed to meet demand," Voser said. He was echoed by de Margerie, who said that he hoped doing business with Iran would again be permitted "as soon as possible, not just for Total but for the world and for Iran. Any country cannot stay out of the system," The Daily Telegraph reports. Silvio Berlusconi is facing a growing revolt from his centre-right party over his attempts to bring down Enrico Letta's coalition government, sending Italian stocks soaring on expectations that the Prime Minister would survive a vote of confidence expected in parliament on Wednesday. Angelino Alfano, the secretary of Berlusconi's People of Liberty (PDL) who has emerged as the leading voice of centre-right "moderates", declared after meeting Letta on Tuesday that he remained convinced that the entire party should vote to support the centre-left prime minister, the Financial Times writes. Threats to the global economy from the financial crisis have been defused but not eradicated, while the real economy continues to suffer despite a broad improvement in markets, the head of the International Monetary Fund (IMF) has said. "Global growth is still too weak and too uneven, and the outlook is clouded with risks, old and new," Christine Lagarde said in the IMF's annual report. "In far too many countries, improvements in financial markets have not translated into improvements in the lives of people," The Daily Telegraph says. The controversial high-speed rail link HS2 is likely to boost the British economy by "at least 25% more" than the £15bn official estimate, the Conservative Party conference was told. Bridget Rosewell, a leading economist and director of Network Rail, said the benefit costs calculated by KPMG had only accounted for current productivity being able to move more freely. She argued that the new connectivity would create economic growth that could not yet be seen, The Daily Telegraph reports. Poundland is preparing the ground for a stock market listing as it plans to double its space in the UK to more than 1,000 stores. The private equity-owned discount chain has grown rapidly as Britain recovers from the economic downturn and it intends to expand across Europe within 18 months. Poundland has been at the forefront of the changing face of the high street, where cash-strapped shoppers have turned in droves to discount retailers, according to The Times. New Royal Bank of Scotland (RBS)boss Ross McEwan today admitted to "trepidation" and "fear" as he started the job of returning the lender to a central role in the UK economy. The 56-year-old New Zealander pledged to repay the taxpayer's support by doing "everything possible" to help the UK economy recover, and promised that RBS would increase lending. In a speech to staff at the company's London offices McEwan, who previously ran RBS' retail banking operation, also signalled a new focus on customer service which he hopes will eventually allow the group to put its 2007 collapse behind it, The Scotsman says. AB
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23 Nov 2021 09:15

UPDATE 1-Shell halves Singapore refining capacity, to change chemical feedstock

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21 Nov 2021 19:52

UPDATE 2-NZ's Meridian Energy sells Australia unit for $528 mln to Shell-consortium

(Adds comment from Shell paras 5,6)Nov 22 (Reuters) - Meridian Energy on Monday said it agreed to sell its Australian energy business for A$729 million ($527.80 million) to a consortium of global energy giant Royal Dutch Shell and Australian inves...

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21 Nov 2021 19:52

UPDATE 1-NZ's Meridian Energy sells Australia unit for $528 mln to Shell-consortium

(Adds detail on deal, quote)Nov 22 (Reuters) - Meridian Energy on Monday said it agreed to sell its Australian energy business for A$729 million ($527.80 million) to a consortium of global energy giant Royal Dutch Shell and Australian investment m...

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21 Nov 2021 19:36

NZ's Meridian Energy sells Australia energy unit for $528 mln to Shell-consortium

Nov 22 (Reuters) - Meridian Energy on Monday said it agreed to sell its Australian energy business for A$729 million ($527.80 million) to global energy giant Royal Dutch Shell and Australian investment manager Infrastructure Capital Group.The agr...

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19 Nov 2021 09:48

UPDATE 2-British shares log weekly loss as commodity, travel stocks weigh

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Travel stocks slammed by lockdown fears* UK retail sales rise by 0.8% in October* Kingfisher slips as Q3 sales drop* FTSE 100 down 0.5%, FT...

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19 Nov 2021 07:48

REFILE-UPDATE 1-Ryanair drops London listing, citing costs

(Fixes headline)DUBLIN, Nov 19 (Reuters) - Ryanair gave notice on Friday of its intention to delist from the London Stock Exchange next month, saying the volume of trading did not justify the costs related to retaining an additional listing.The ...

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19 Nov 2021 07:48

UPDATE 1-Ryanair drops London Stock Exchange, citing dual listing costs

(Adds details)DUBLIN, Nov 19 (Reuters) - Ryanair gave notice on Friday of its intention to delist from the London Stock Exchange next month, saying the volume of trading did not justify the costs related to retaining an additional listing.The Ir...

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18 Nov 2021 16:15

UPDATE 1-Oil shares dip as Asian nations consider releasing oil reserves

(New throughout, updates prices, market activity and comments)By Danilo MasoniMILAN, Nov 18 (Reuters) - Shares in oil companies fell on Thursday as plans by the world's top consuming nations to release strategic reserves sent crude prices to multi-...

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18 Nov 2021 13:39

Oil shares dip as Asian nations consider releasing oil reserves

By Danilo MasoniMILAN, Nov 18 (Reuters) - Shares in oil companies fell on Thursday as plans by the world's top consuming nations to release strategic reserves sent crude prices to multi-week lows, curbing enthusiasm for one of the best performing ...

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18 Nov 2021 13:16

Shell acquires 51% stake in Irish floating offshore wind project

LONDON, Nov 18 (Reuters) - Royal Dutch Shell said on Thursday it had acquired a 51% stake in an floating wind project off the west coast of Ireland aiming to develop up to 1.35 gigawatt in electricity capacity.Shell bought the stake in the Western...

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18 Nov 2021 12:50

GLOBAL MARKETS-Stocks shine once again, Turkey's lira plunges on rate cut

* Brent crude under pressure at $80* Turkish currency drops as cenbank cuts rates* Dollar, stocks pause after hot November so far* European gas prices consolidate 60% surge this month* Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn* Graph...

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18 Nov 2021 12:10

LONDON MARKET MIDDAY: FTSE left behind as CAC and DAX hit records

LONDON MARKET MIDDAY: FTSE left behind as CAC and DAX hit records

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17 Nov 2021 16:02

UPDATE 2-U.S. Gulf of Mexico auction attracts pent up demand from oil drillers

(Adds sale results)By Nichola GroomNov 17 (Reuters) - The Biden administration's auction of oil drilling rights in the U.S. Gulf of Mexico generated more than $190 million in high bids, bringing in more money for taxpayers than any government offs...

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17 Nov 2021 16:02

UPDATE 1-U.S. offshore oil auction begins under court order, shadow of climate deal

(New throughout, adds statistics released prior to the sale, details on bidders)By Nichola GroomNov 17 (Reuters) - The Biden administration on Wednesday kicked off an auction of oil drilling rights to 80 million acres in the U.S. Gulf of Mexico da...

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17 Nov 2021 16:02

UPDATE 3-Chevron, Exxon are among top spenders at Biden offshore auction

(Recasts, adds industry and environmentalist comments, details from sale, Biden FTC letter)By Nichola GroomNov 17 (Reuters) - U.S. oil majors Exxon Mobil Corp and Chevron Corp were among the top buyers at a federal auction of oil leases in the U.S...

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