Investments

Investments
Monday, July 27th 2015 - 11:58 UTC

Pearson prepared to sell 50% stake in The Economist; deal should be over b by end of summer

Pearson said it was in discussions regarding the sale of the Economist but there was “no certainty that this process will lead to a transaction”.

Publishing company Pearson has confirmed plans to sell its 50% stake in the Economist Group. The statement from the firm came just days after it announced the sale of the Financial Times to Japan's Nikkei.

Friday, July 24th 2015 - 10:15 UTC

Japan's largest media company buys the Financial Times in a £844m deal

The battle for the FT turned into a duel between Nikkei and Axel Springer, two groups keen to develop their global presence in the English-language market.

Nikkei, Japan’s largest media company, is to buy the FT Group from Pearson for £844m, after stunning its rival bidder Germany’s Axel Springer with an eleventh hour offer for the London-based global news organisation. The deal marks the end of an era, bringing the curtain down on Pearson's 58 year ownership of the Financial Times at a time of upheaval in the global media industry.

Thursday, July 23rd 2015 - 08:37 UTC

Tourism in South America reported strongest growth in Jan-April period

The Americas (+6%) led growth, followed by Europe, while by subregion South America and Oceania boasted the strongest increase (both +8%)

International tourism demand continued to be robust between January and April 2015 with tourist arrivals increasing 4% worldwide according to the latest UNWTO World Tourism Barometer. Almost all regions enjoyed strong growth with the Americas leading growth and by sub-region, Oceania and South America boasted the strongest increase (both +8%), followed by the Caribbean and Central and Eastern Europe (both +7%)

Friday, July 17th 2015 - 06:42 UTC

Falklands' Premier secures two blocks in Mexico's oil industry privatization

Mexico’s oil and gas privatization process began with shallow offshore assets; the licenses are in waters off the states of Veracruz and Tabasco

Premier Oil, with strong involvement in the development of the Falkland Islands' oil and gas industry is among the winners in the first round of Mexico’s oil and gas privatization. The two licences secured by the London listed oil firm’s consortium were the only assets successfully auctioned by the Mexican authorities.

Saturday, July 11th 2015 - 06:18 UTC

Premier Oil Falklands' exploration budget increased given successful drilling

2015 exploration expenditure has increased by $20m to around $240m primarily due to additional expenditure on the Isobel Deep well in the Falklands

Premier Oil has increased its 2015 exploration budget by $20 million to account for higher investments in its drilling campaign in the Falkland Islands, the company said this week in a trading update. The company also revealed it is considering further drilling at the Isobel Deep recent discovery instead of going on to Jayne East in North Falkland.

Friday, July 10th 2015 - 07:00 UTC

Putin announces BRICS development bank and currency reserve pool

“The New Development Bank will be financing large-scale transport and energy projects and industrial development,” Putin said after talks with BRICS leaders

Russian President Vladimir Putin said on Thursday that a new BRICS bank would become fully operational and finance energy projects next year as emerging markets attempt to challenge the Western-dominated financial system. BRICS nations -- Brazil, Russia, India, China and South Africa -- which represent 40% of the world's population, agreed in 2013 to establish their own development bank, with estimated capital of $100 billion.

Friday, July 3rd 2015 - 12:43 UTC

JBS buys UK's Moy Park for $1.5bn from rival Mafrig Global Foods

Moy Park, the largest producer of poultry in the UK, will give JBS access to affluent markets in Britain, Scandinavia and other European countries

Brazil’s JBS, the world’s largest meat packer, has agreed to pay about $1.5 billion for Moy Park, the British unit of rival Mafrig Global Foods. JBS, which has undertaken a massive overseas expansion since 2007, will pay $1.19 billion in cash and will assume Moy Park’s debt totaling £200 million as part of the deal, Marfrig said in a statement.

Wednesday, July 1st 2015 - 02:44 UTC

Falklands will continue to develop its legitimate oil industry as it moves from exploration to production

Falklands' people have “the unequivocal right to develop our natural resources as we see fit, including the development of a hydrocarbons industry” (Pic EPA)

The Falkland Islands government has no doubts about its right to licence legitimate offshore oil and gas exploration activities in accordance with Falklands' legislation and will continue to support the hydrocarbons industry as it moves from successful exploration towards oil production.

Tuesday, June 30th 2015 - 06:14 UTC

Petrobras drastically cuts investment by 37% in next five years

“The investment portfolio will give priority to petroleum exploration and production projects in Brazil, with the emphasis on the pre-salt”

State-controlled oil giant Petrobras, which is mired in a corruption scandal that has rocked Brazil, said Monday it was cutting investment by 37% during the 2015-2019 period. Investment during the period will now total $130.3 billion, down from the $220.6 billion originally planned, Petrobras said in a filing with the Sao Paulo Stock Exchange.

Tuesday, June 30th 2015 - 05:16 UTC

Argentina's threat against Falklands' oil companies with no impact on markets

A spokesman for Sam Moody, Rockhopper Exploration’s chief executive, said: “We will not be commenting on moves”

The Argentine court order that assets of several international oil companies drilling for oil in the Falkland Islands be seized has caused mild turbulence in their share prices. Tierra del Fuego judge Lilian Herraez ordered the authorities to seize bank accounts, boats and other assets worth an estimated US$156mln.

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