Findel sells unit to tackle debt

first_img Findel sells unit to tackle debt John Dunne Tags: NULL Share Home shopping and education supplies firm Findel said it would sell a unit, which includes its gadgets and gifts business, to online retailer The Hut Group in a cash deal worth £0.6m to help reduce its debt pile.Findel, whose net debt stood at £309.6m as of 2 April, had earlier said its level of net debt was too high.Operations of the unit CWIO comprise online retailer of gadgets and gifts iwantoneofthose.com and Confetti, a multi-channel retailer for bridal products.The sale of CWIO, formerly known as Findel Direct, forms a part of the company’s strategy to exit non-core and loss-making operations.For the year ended April 2, the multi-channel retailer had reported an adjusted pretax profit of 13.8m from continuing operations, compared with a restated £29.2m in 2009. Thursday 12 August 2010 3:39 amcenter_img Show Comments ▼ whatsapp whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvdlast_img read more

Markets plunge on fresh dip fear

first_img Show Comments ▼ Wednesday 11 August 2010 8:53 pm KCS-content whatsapp Markets plunge on fresh dip fear by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorBrake For ItThe Most Worthless Cars Ever MadeBrake For ItTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal Past Share GLOBAL markets plummeted yesterday after the Bank of England cut its growth forecast and the US trade gap widened dramatically intensifying fears of a double-dip recession. On Wall Street, the Dow Jones recorded its biggest loss in six weeks, dropping 2.5 per cent to 10,378.83 and taking the index into negative territory for the year, while the FTSE 100 plunged 2.4 per cent to 5,245.21 – its biggest single-day percentage drop since 29 June. In Europe, leading indices followed suit with Paris and Frankfurt both closing more than two per cent lower. The sharp falls came as Bank governor Mervyn King was forced to downgrade his forecasts for growth amid charges that he had been “wildly optimistic” in his earlier projections. The Bank now expects a “choppy recovery” with growth averaging 2.7 per cent in 2011, down from its forecast in May of 3.4 per cent, as chancellor Osborne’s public spending cuts, outlined in his June Budget, begin. The Bank for the first time also indicated that there was an outside chance that the economy could dip back into recession, with its forecasts for growth suggesting that it was factoring in a three per cent likelihood of a renewed downturn.Labour’s Lord Myners said King had “pointed the finger squarely at the government” in citing reduced confidence, limited credit and fiscal consolidation as “the things bearing down” on economic activity.King’s downbeat outlook came as official data showed that the economy added workers at the fastest rate since 1989 in the three months to the end of June, but economists warned it would still not be enough to offset huge public sector job cuts in the offing. Employment jumped by 184,000 to 29m, the Office for National Statistics said, while unemployment on the International Labour Organisation measure fell by 49,000 to 2.45m.But the government was quick to play down fears of a double-dip recession with employment minister Chris Grayling hailing the figures as a “good step in the right direction” and energy secretary Chris Huhne insisting the UK has “strong forces pushing us towards prosperity”. Meanwhile, across the Atlantic the US monthly trade gap grew by a steeper-than-expected 18.8 per cent between May and June to $49.9bn (£31bn) – the highest since October 2008. Emerging just a day after the Federal Reserve’s renewed push toward monetary easing, the data confirmed fears of a weakening economic recovery. Tags: NULL whatsapplast_img read more

TRADERS SEX UP THE DULL WORLD OF FOREX

first_img TRADERS SEX UP THE DULL WORLD OF FOREX whatsapp KCS-content THE THINGS that bored traders get up to when they get a minute, eh? The Capitalist chances upon an, err, enterprising website set up by a pair of forex traders, who claim to have cracked the conundrum of how to dispense a barrage of information to their peers while simultaneously holding their interest – by using the power of sex.“Winning traders have to truly be information junkies but the information is dull, boring, slow and not the least bit sexy,” reads the blurb on the website, FoxyForex.com. “So one day, while pouring over the crush of current releases and reports, my partner and I thought, ‘What if we could get the info we need to trade from ridiculously hot girls?’ “We are not the only ones doing this, far from it. But we are the only ones doing it with April, Crystal, Jenna, Nicole… you get the picture.”Unbelievably, they’re dead serious about the venture. A quick search around the website throws up semi-naked pictures and profiles of the “spokesmodels” – nestled alongside videos and blog posts from the girls on subjects such as the Fed’s decision to leave interest rates unchanged.“Better than bunnies and talking money,” is the slogan flashing excitedly at the top of the page.WINNING TORTOISEThe popularity of billionaire investor Warren Buffett, if it were ever in any doubt, has now achieved truly universal status.The press down under in New Zealand have been getting all excited in recent days over a children’s book written by a Kiwi investment adviser, Lucas Remmerswaal, who’s based the kiddies’ tome on the ideas and principles of Buffett himself.“The Tale of Tortoise Buffett and Trader Hare” apparently has the full blessing of the Berkshire Hathaway chief, who’s given his permission for Remmerswaal to use the information he dispenses to shareholders in letters each year.In case anyone’s not familiar with the original tortoise-and-hare story, the plot has everything you’d expect from a cautionary tale penned shortly after the financial crisis. A greedy investor rushing off to secure loans he can’t afford? Check. A wise old financier sticking to his more leisurely guns and keeping to more traditional principles of investment? Check. A stock market crash and subsequent bankrupting of said greedy investor? Check. The sage of Omaha is probably polishing his halo at this very moment…TELETUBBIES: EH-OHWill Lord Mayor Nick Anstee and his delegation of business grandees have anybody at all waiting for them in the audience when they arrive at the Shanghai Expo early next month?I only ask after hearing word of a peculiar entertainment line-up for the UK pavilion at the Chinese exhibition ahead of the arrival of the delegates, set to include LSE chairman Chris Gibson-Smith, Standard Life chairman Gerry Grimstone, Barclays vice-chairman Sir David Wright, Standard Chartered vice-chair Sir Thomas Harris and Mark Garvin, chairman of JP Morgan UK. Apparently, visitors to the pavilion in the days immediately preceding their arrival will be treated to performances by none other than the Teletubbies.MEMORY LANEA half year ticks by and we’re treated once again to the ramblings of Andrew Perloff, chairman of Panther Securities. Throughout his years at the helm of the group, Perloff’s humorous and varied tirades have gained him the dubious honour of the most-read chairman in the City, despite running a relative tiddler of a company.Yesterday’s half year results were no different, with a rant about service and inflated prices at utility companies turning into a trip down memory lane, recalling his father’s purchase of a grand old pub in Margate. The boozer was where Perloff himself cut his teeth in the world of work, having been chosen from his siblings to pull pints for the locals of Kent due to his “cheerful demeanour, quick wit and adding up ability”.“There was only one problem – I was 12 inches too short,” Perloff reminisces. “This problem was easily solved – I made a platform between the till and the beer pumps from four upturned solid beer crates. We were obviously exploited as child labour, but unfortunately we did not realise it as we were having such a wonderfully exciting, educationally useful fun time…”All very heart-warming, to be sure – and the ramblings certainly do the job. By the end of the lengthy tale, The Capitalist had almost forgotten Panther swung into loss over the first half of the year.ART OF SPINA lucrative coup for financial PR agency Tulchan, which yesterday sent out its first communications on behalf of its newest client – Canadian fertiliser firm PotashCorp, the target of the biggest takeover bid of the year.“We’re delighted,” preens a Tulchan spinner. “This is a fascinating time for the company and a fascinating deal…”Quite. Over on the other side, it’s business as usual: hostile bidder BHP Billiton has engaged Brunswick. whatsappcenter_img Monday 23 August 2010 8:08 pm Tags: NULL Share Show Comments ▼last_img read more

Tempting M&A deals can risk wrecking value

first_img Tags: NULL KCS-content More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comConnecticut man dies after crashing Harley into live bearnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com whatsapp Share Show Comments ▼ THE return of global M&A in 2010 has been cited as unambiguous evidence corporations are feeling more confident about themselves. The wealth of mega-deals on both sides of the Atlantic is surely a sign we are on the path to the broader macro-economic recovery we all crave. However, the tragedy is that a large amount of this merger activity will turn out to have been a complete waste of money.There is strong evidence to suggest that, for every penny of money spent on good acquisitions, there is at least another wasted on deals which, even at the time – let alone with hindsight – are examples of boardroom folly and ego. In terms of ultimate shareholder returns, using free cashflow to increase dividends has historically wiped the floor, compared with the alternative of using that cash for acquisitions.From Vodafone to RBS, from Marconi to GlaxoSmithKline, the waste has been dramatic. To use just one example, take a look at the value of GlaxoSmithKline back in January 2000, at the time of the merger that was supposed to create a pharmaceutical titan that would be a catalyst for stunning growth. In January 2000, GSK was valued on the market at £114bn. And today? The market cap as of Friday was around £66bn. A decade and a fall in value of £50bn.Companies still don’t appear to be learning the lessons. Take a look at Hewlett Packard’s frenzied bidding for data storage group 3Par. Was the near $2bn (£1.28bn) price tag a fair deal for a company that has not made money for five years? Or was it all about beating Dell? Unfortunately, this deal has not been, nor will it be, the only example of the wasting of shareholder funds as companies pile on the cash.Bob Parker, senior advisor at Credit Suisse, draws my attention to the cash mountain being stashed up by corporates everywhere. US non-financial cash-asset ratios are at 25 year highs.“Last year there was sensational value and opportunities in distressed companies but, while it is impossible to generalise, more and more companies are going to be overpaying and regretting it later,” says Parker.It isn’t only the companies themselves who are to blame. One FTSE 100 boss told me that he won’t even talk to City dealmakers anymore, adding: “I am fed up to the teeth with 30-year- old investment bankers, who have absolutely no experience in my industry, telling me about the industrial logic for this disposal or that bolt on acquisition. What do these people know?”Not all CEOs have the iron will to resist the City and Wall Street’s snake oil salesmen. The sorry reality is that hard fought financial stability can be lost in one moment of M&A madness.Steve Sedgwick is a presenter on Squawk Box Europe each weekday morning on CNBC. Sunday 19 September 2010 10:06 pm Tempting M&A deals can risk wrecking value whatsapplast_img read more

Nomura banker joins Occitan

first_img Share KCS-content Nomura banker joins Occitan whatsapp Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrapcenter_img Tuesday 28 September 2010 11:27 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com whatsapp Tags: NULL Occitan Capital Partners, the new London-based hedge fund launched by two former Goldman Sachs bankers, has appointed former Nomura banker John Candillier as its new chief executive. The appointment comes just before the fund’s official launch in November. Occitan was set up by former Goldman Sachs traders, Herve Gallo and Thomas de Gardiel-Thoron, in the summer. Candillier, who was head of distribution for continental Europe at Nomura, worked with Gallo at Lehman Brothers. last_img read more

Rigby & Peller slides into the red as Brits cut back on luxury items

first_img CORSET-MAKER to the Queen, Rigby & Peller has become the latest lingerie chain to be hit by cash-strapped Brits reining in their spending.The luxury retailer, whose fans include Gwyneth Paltrow, Lady Gaga and Nick Clegg’s wife Miriam González Durántez, dived into the red by £214,000 in the 12 months to the end of January, compared with a pre-tax profit of £168,000 a year earlier. Sales slipped one per cent to £9.8m, despite the opening of a new store. In accounts just filed at Companies House, Rigby & Peller said that the results were “disappointing” but that it is “well positioned to benefit from an upturn in the overall economy”. Initially, underwear brands reported strong trading in the recession. Rival Agent Provocateur made a pre-tax loss of £1.1m in the year to March 2009 as it was also hit by the downturn. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com whatsapp Sharecenter_img Rigby & Peller slides into the red as Brits cut back on luxury items Tags: NULL Tuesday 26 October 2010 7:50 pm Show Comments ▼ last_img read more

Private sector recovery still on track

first_img Private sector recovery still on track whatsapp whatsapp KCS-content Monday 1 November 2010 9:38 pm Sharecenter_img Show Comments ▼ WHAT a day for the global economy. In Britain, China and America, manufacturing surveys surged ahead, in every case beating consensus estimates and suggesting strong private sector growth over the next few months. Yesterday’s jump in the global purchasing managers indices were undoubtedly the most bullish indicator I have seen in a long time. The key here is world trade and globalisation: domestic demand in the UK and in the US may be weak, with more realistic credit, falling real incomes and sliding house prices – but the emerging world is booming like never before. One must hope that this can be sustained, helping to rebalance Western economies away from debt-fuelled public and private consumption and towards greater exports of goods and services. Research from Ian Stewart of Deloitte confirms that the broader corporate recovery is also proceeding apace across the industrialised world. During the last month, 238 large companies from rich nations reported third quarter results. These include 214 from the S&P 500, 17 from the FTSE 350 and seven from the Euro Stoxx 50. Deloitte’s analysis shows a strong rise in profits. Over the last year, earnings at S&P 500 firms reporting results in the third quarter have risen 41 per cent. Earnings at FTSE 350 firms rose 29 per cent. Euro Stoxx 600 index earnings rose 31 per cent.No fewer than 79 per cent of third quarter results exceeded expectations. As a result, the average earnings-per-share analysts’ estimate for the S&P 500 have risen 26 per cent. Those for the FTSE 350 are up 65 per cent and for the Euro Stoxx 50 by 18 per cent.Technology firms are doing well. Even airlines are recovering: Ryanair posted strong earnings, BA is back in profit, while Bank of America Merrill Lynch estimates US airlines earned record amounts in the third quarter (though the impact of yesterday’s new security measures in the UK remain to be seen). In contrast, US banks have reported a significant fall in revenues; the repossessions scandal will continue to drag them down.There are three ways these buoyant profits will be spent globally: an increase in stock buybacks, higher dividends and more capital spending. The latter will help drive GDP growth and ensure that the squeeze on consumer and government demand won’t tip the UK into a double-dip. Tim Congdon, who runs International Monetary Research, is another economist who has become more optimistic. He argues that the latest money numbers from the US suggest that the case for another round of quantitative easing (QE) – which he thought was obvious for most of 2009 and early 2010 – is now far from clear-cut. QE’s job is to increase the quantity of money in the hope that this boosts the demand for goods, services and assets. Yet Congdon notes that the M2 money measure has grown in the last three months at an annualised rate of 8 per cent, while the more important M3 measure is also creeping up. If QE2 sees the Fed buy $500bn of long-dated Treasuries from non-banks, this would expand the quantity of money directly by only 2 – 3 per cent maximum. We shall see – but it does seem strange that the US authorities are planning to jump on the QE2 just as some key indicators are improving of their own accord. Let us hope that, just as large chunks of the private sector start to recover, the authorities don’t mess it all up [email protected] Tags: NULLlast_img read more

CWC sees sales rise as it battles through choppy economic waters

first_imgThursday 4 November 2010 11:26 pm whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org KCS-content Show Comments ▼ Share CWC sees sales rise as it battles through choppy economic waters whatsapp Cable & Wireless Communications (CWC) reported a two per cent rise in first-half sales in what it said was a mixed economic environment, and said its full-year expectations were unchanged.CWC, which trades in a number of overseas territories including the Caribbean, the Maldives and Panama, said a strong performance in Macao and Monaco & Islands, however, had boosted its core profit by four per cent. In the first half, CWC’s revenue was $1.2bn (£738m) and earnings before interest, tax, depreciation and amortisation were $424m. CWC split from the former Cable & Wireless group this year. The remaining business, now called Cable & Wireless Worldwide, services corporate and government customers. Tags: NULLlast_img read more

AngloGold sees production rise

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Share whatsapp whatsapp Tags: NULL AngloGold Ashanti, the world’s third-largest gold miner, beat its guidance for third-quarter output and costs yesterday. Production rose three per cent from the previous quarter to 1.162m ounces, above its own forecast of 1.15m ounces. Cash costs rose to $643 per ounce from $617 an ounce in the previous three months, still below guidance of $645 an ounce. Africa’s top gold miner, which has operations across four continents, said output for the year would be 4.5m ounces at a cost of $635 an ounce, at the lower end of its forecast of 4.5m to 4.7m. Thursday 11 November 2010 7:40 pmcenter_img KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlush AngloGold sees production rise Show Comments ▼last_img read more

Delays may hit Sterling Energy’s Kurdistan well

first_img INVESTORS yesterday pulled out of Sterling Energy after the oil and gas explorer revealed potential delays in drilling a well in Kurdistan.Shares in Sterling dropped 11.9 per cent to 53.75p after the group, which focuses on the Middle East and Africa, said gas had accidentally escaped into a well it was drilling in its Sangaw north block, in which it has a 53.3 per cent stake.Sterling, which is targeting reservoirs deeper in the well, said work to remove the gas had damaged drilling equipment.It said work to remove the damaged equipment and the gas from the well would be challenging and it did not know how long it would take.Sterling said the entry of gas into the well was encouraging, but did not show whether it contained significant hydrocarbon deposits.“Sterling will make a further announcement at the appropriate time,”?the company said in an update. KCS-content Tuesday 23 November 2010 7:15 pm Show Comments ▼ Tags: NULL whatsapp Delays may hit Sterling Energy’s Kurdistan well center_img whatsapp Share More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Centerlast_img read more