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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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7 Jan 2022 08:17

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7 Jan 2022 07:57

LONDON MARKET PRE-OPEN: Shell says buybacks to continue "at pace"

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7 Jan 2022 07:49

Shell to proceed with share buyback 'at pace' despite weaker oil performance

(Sharecast News) - Royal Dutch Shell said its $7bn share buyback programme would continue "at pace" despite weaker oil product sales due to the Omicron Covid variant and forex headwinds in Turkey.

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7 Jan 2022 07:27

UPDATE 3-Shell pursues $7 billion buyback 'at pace' despite LNG troubles

* LNG production hit by outages in Australia* Marketing earnings impacted by Omicron slowdown (Adds share price)By Ron BoussoLONDON, Jan 7 (Reuters) - Royal Dutch Shell said it will pursue "at pace" a $7 billion share buyback largely funded from t...

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7 Jan 2022 07:27

UPDATE 1-Shell to continue $7 bln buyback programme 'at pace'

(Adds detail)By Ron BoussoLONDON, Jan 7 (Reuters) - Royal Dutch Shell said on Friday its $7 billion share buyback programme, of which $1.5 billion has been completed, will continue "at pace" despite a slowdown in fuel demand due to the Omicron COV...

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7 Jan 2022 07:27

UPDATE 2-Shell pursues $7 billion buyback 'at pace' despite LNG troubles

* LNG production hit by outages in Australia* Marketing earnings impacted by Omicron slowdown (Adds details, graphics)By Ron BoussoLONDON, Jan 7 (Reuters) - Royal Dutch Shell said it will pursue its $7 billion share buyback programme after selling ...

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7 Jan 2022 07:10

Shell to continue $7 bln buyback programme 'at pace'

LONDON, Jan 7 (Reuters) - Royal Dutch Shell said on Friday its $7 billion share buyback programme, of which $1.5 billion has been completed, will continue "at pace" despite a slowdown in fuel demand due to the Omicron COVID-19 variant.(Reporting b...

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6 Jan 2022 23:48

U.S. court rejects laundromat owners' bid to block sale of Texas oil refinery to Mexico's Pemex

By Stefanie EschenbacherHOUSTON/MEXICO CITY, Jan 6 (Reuters) - A U.S. court on Thursday tossed out a request from two laundromat owners to block Mexican state oil company Petroleos Mexicanos (Pemex) from acquiring majority control of a Texas oil r...

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6 Jan 2022 12:16

UPDATE 2-Key Kazakh oil fields pump despite protests

(Updates with Shell, details, background)By Ron Bousso and Rowena EdwardsLONDON, Jan 6 (Reuters) - Oil production at Kazakhstan's top three fields is continuing even as some contractors gathered outside the largest Tengiz field in support of protes...

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6 Jan 2022 12:00

Shell-backed U.S. solar developer raises $775 million in equity

By Nichola GroomJan 6 (Reuters) - Silicon Ranch Corp, the U.S. solar project developer backed by Royal Dutch Shell, on Thursday said it raised $775 million in equity capital from new and existing investors.The announcement comes as renewable energ...

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5 Jan 2022 09:54

UPDATE 2-Commodity-linked stocks lift UK's FTSE 100 after dull start

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Ocado, LSEG, Ferguson gain as brokerages raise share ratings* Gains in oil majors offset risk-off sentiment* FTSE 100 up 0.2%, FTSE 250 of...

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4 Jan 2022 17:00

LONDON MARKET CLOSE: Stocks start 2022 in style as airlines fly higher

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4 Jan 2022 12:04

LONDON MARKET MIDDAY: Bright start to 2022 as travel stocks take off

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3 Jan 2022 13:26

U.S. refiner HollyFrontier warns of lower than expected throughput

Jan 3 (Reuters) - U.S. oil refiner HollyFrontier Corp's fourth-quarter throughput will be lower than forecast, hit by weather and turnaround setbacks at refineries in Washington, New Mexico and Oklahoma, the company warned on Monday.Flooding in B...

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31 Dec 2021 13:08

LONDON MARKET CLOSE: Muted finish as FTSE 100 rallies 14% in 2021

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