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BG Group Chief Executive Sir Frank Chapman said: "The agreement reached today is another important milestone in the successful execution of BG Group's funding diversification and portfolio rationalisation programme." He added: "BG Group was instrumental in delivering the GNLQ facility - the first onshore regasification terminal to operate in the southern hemisphere - and we will continue to be a key supplier of LNG into this important, counter-seasonal energy market."

Oil and gas producer BG Group has agreed to sell its 40 per cent interest in a company called GNL Quintero (GNLQ), the owner of a liquefied natural gas terminal in Chile. The two-tranche stock purchase agreement could net BG $352m. The first tranche involves the sale of 20% equity in GNLQ for $176m. The second 20% tranche, also valued at $176m, requires consent from lenders and other partners. Both transactions are expected to complete by the end of 2012.

Argentina vowed to press criminal and civil charges on British oil companies exploring off the Falkland Islands if they do not "justify their actions" by a May 2 deadline. In its latest escalation of rhetoric over the disputed islands, Argentina said it had written to Falkland Oil & Gas (FOGL), Borders & Southern, Rockhopper, Desire Petroleum and Argos Resources on April 17, to "notify them of their illicit actions and their consequences. In case of failure to offer a response and once the deadline expires, administrative sanctions will be imposed to each company within the framework of an Energy Secretariat resolution which deems these activities illegal. The Argentine government will also press criminal and civil charges," it said, according to The Telegraph.

"Longer term, in addition to distributing Axis AMC's funds internationally, there will be an opportunity to distribute Schroders funds in India through Axis' distribution network," Dobson said.

The transaction is subject to regulatory approval and is expected to complete during 2012. Michael Dobson, Chief Executive of Schroders said the acquisition enabled it to participate in the growth opportunity represented by the Indian unit trust market through a strategic relationship with a leading private sector bank.

Asset manager Schroders is to take a substantial stake in the Indian asset management business of Axis Bank. Schroders is acquiring 25% of Axis Asset Management Company (Axis AMC), a company which has assets of around $2.3bn under management.

Positive Points: Sales growth came in at the higher end of analyst expectations. Management marginally raised its forecasts for 2012. It now expects full-year revenues to be up over 4% as opposed to an earlier forecast of around 4%. In Asia Pacific, Latin America, Africa & the Middle East and Central and Eastern Europe, revenue growth was strongest, with constant currency revenues up 11.1% and like-for-like revenues up 9.5%, principally driven by Latin America. While cautious regarding 2013, management was more upbeat regarding 2014, highlighting the World Cup in Brazil, the Winter Olympics in Sochi and the mid-term Congressional elections in America. Western Continental Europe, although macro-economically more difficult, grew like-for-like revenues at 2.5%, which is ahead of the full year growth in 2011 of 2.2%. The group continues to grow via bolt-on acquisitions. Deals done continue to be of small and medium sized companies, focused on new markets, new media and consumer insight. During the full year 2011, 24 acquisitions and investments were in new markets, 32 in new media and 8 in the consumer insight arena during the year. WPP continues to enjoy geographical diversification. In line with the statement made with the group's 2010 full year results, announcing the intention to raise the dividend pay-out ratio, from around a third to 40%, the board previously declared an increase of 45% to the final dividend, which together with the interim dividend, made a total of 24.60p per share for 2011, an overall increase of 38.3%

Negative Points: Like for like revenue growth of 4.0% in Q1 was down on the +4.5% seen in Q4 2011 and down on Q3 2011. Given events in Europe and political deadlock in the US, the economic backdrop remains uncertain. Management highlighted a potentially difficult 2013, no maxi- or mini- quadrennial events in that year. The Middle East, as in 2011, remains the most challenged sub-region, not helped by political instability. Each WPP company operates in a fiercely competitive sector. Net debt at 31 March 2012 was £2.816 billion, compared to £2.525 billion in 2011 (at 2012 exchange rates), an increase of £291 million, reflecting increased spend on acquisitions and higher dividends partly offset by the improvement in working capital in the first quarter. The company is exposed to foreign exchange risk. Over 40% of group profit is geared to the US dollar.

Financial Highlights: Group revenue on a constant currency basis rose by 7.4% Like-for-like revenues grew by 4.0% in the quarter compared to Q1 2011. First quarter profits and operating margin above budget and ahead of last year. Management marginally raised its forecasts for 2012. It now expects full-year revenues to be up over 4% as opposed to an earlier forecast of around 4%.

First quarter update: Sales growth materialised at the high end of analyst expectations, while management marginally raised its forecasts for 2012. Growth in all regions and business sectors was enjoyed, characterised by particularly strong growth geographically in Asia Pacific and Latin America and functionally in advertising and media investment management and direct, digital and interactive. Acquisitions again aided overall group sales growth, paid for via increased borrowing. As for the outlook, management noted that “2012 had started well, with the pattern of growth expected to be similar to 2010 and 2011.” Western based multi-national companies remain prepared to invest in both capacity and behind brands in fast growing markets the three maxi-quadrennial events of 2012 (UEFA Football Championships, Summer Olympics and US Presidential Elections) should underpin industry growth by 1% alone this year.

The Group's core activity is the provision of communications services worldwide. The Business is divided into four key areas: Advertising & Media Investment Management; Information, Insight & Consultancy; Public Relations, Public Affairs and Branding & Identity and finally Healthcare & Specialist Communications. Brands within the group include J Walter Thompson, Ogilvy & Mather and Young & Rubicam. Its primary listing is on the London Stock Exchange and it is a constituent of the FTSE 100 Index. It has a secondary listing on NASDAQ.

Positive Points: Trading is currently in line with prior expectations, with progress for the full year 2012 expected. Pearson enjoys strong global market positions. It is both the largest education company and the largest book publisher in the world. Pearson has over recent years made acquisitions in Brazil, China, South Africa, Nigeria and India. The board has previously highlighted that it was “benefiting from recent portfolio changes, using the proceeds from disposals to invest in fast-growing businesses in developing economies and digital services.” The group's dividend policy remains progressive. Pearson has declared a dividend increase above the rate of inflation for 20 consecutive years.

Negative Points: Although overall progress is expected, reduced profitability in the first half has been flagged. With management having regularly increased earning guidance over the last year or so, expectations now run high prior to the company updating. Uncertainty over potential national and local government spending cuts in the US continues to cast a shadow over the group's Education business. The weak state of the physical retail book market is a risk to the publishing industry. Despite previous outperformance, Penguin is now only expected to perform in line with the broader industry. The outlook for advertising markets, (for the Financial Times) remains subject to macro-economic conditions. Currency volatility can work both for and against the company. With the group generating approximately 60% of its sales in the US, the movement between the pound and the dollar remains significant

Financial Highlights: Sales increased by 11% at constant exchange rates to £1.16 billion, providing an underlying increase of 3% and a headline increase of 12%.

First quarter update: The group is currently trading in line with expectations outlined at its late February full year results. Management continues to expect the company to achieve growth in sales and operating profits for the year as a whole. However, as always, group profits are heavily weighted to the second half and, as a result of the phasing of revenues, organic investment and restructuring, and the sale of a stake in FTSE International, management expects first-half operating profits to be lower in 2012 than in 2011. In addition, the board again highlighted a strong balance sheet, providing approximately £1 billion potentially available to invest in bolt-on acquisitions. Furthermore, management is proposing a final dividend of 28.0 pence, giving a total dividend for 2011 of 42.0 pence, up 9%.

Pearson is one of the world's major publishing groups, with a series of publishing brands (Penguin, Dorling Kindersley, the Financial Times, Prentice Hall, Scott Foresman, Longman and many others). The conglomerate is focused tightly on three core businesses: 1) Education 2) The Financial Times Group 3) Penguin Consumer Books. The group operates from 60 countries and has over 30,000 employees.

Positive Points: Management predicted that 2012 will be a year of good earnings growth. Shire's growth in product sales was driven by Vyvanse (up 29% to $260 million), Replagal (up 28% to $134 million), Elaprase (up 21% to $126 million), Vpriv (up 22% to $72 million), Firazyr (up272% to $20 million) and Intuniv (up 63% to $69 million). Shire's lead ADHD treatments, Vyvanse and Intuniv both increased market share versus the prior year. In a growing US market, the group anticipates Vyvanse sales of over $1 billion for the full year.

Negative Points: The successful roll out of Vyvanse is seen as crucial to maintain Shire's ADHD franchise. Any significant shortfall in the long term performance of Vyvanse may be detrimental to Shire. Litigation risk remains in a number of potential products associated within the group's Human Genetic Therapies (HGT) business. Continuing execution with respect to pipeline drug approvals is required to support longer-term performance forecasts.

Financial Highlights: Product sales increased by 24%. Total revenues grew to $1.17 billion surpassing market expectations. Net debt at 31 March 31 was $214 million (31December 31, 2011: $468 million), a reduction of$254 million, principally due to the strong free cash flow generated created in Q1 2012

Interim results: Biopharmaceutical company Shire Plc saw first quarter net income grow to $238.4 million from $211.3 million in the same quarter a year earlier. Total revenues rose to $1.17 billion from $972.2 million last year, exceeding analyst projections. Recent acquisitions included the US biotech firm FerroKin BioSciences, which develops treatments for patients with iron overload, which Shire bought for approximately $325 million in March. This followed the purchase of the assets from vascular technology firm Pervasis Therapeutics. Vyvanse, Shire's top performing attention-deficit and hyperactivity drug revealed sales of $260 million in the first quarter, up 17% from the same period last year. Adderall, the group's attention-deficit-disorder drug, saw a 7% increase in sales to $111.4 million. Elsewhere, Shire also said research and development costs would grow by between 12% and 14% over the year with a minor dilution of gross margins to continue throughout the year, reflecting the impact of the group's $750million purchase of Advanced BioHealing last month. Management reiterated its expectation of good earnings growth in 2012.