BP shares rise to six-month high after Shell bid report

first_imgTuesday 4 January 2011 5:07 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily 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 ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof whatsapp John Dunne Sharecenter_img BP shares rise to six-month high after Shell bid report Shares in oil major BP hit a six-month high after reports that rival Royal Dutch Shell had considered a takeover bid during the Gulf of Mexico oil spill.BP shares were up 4.3 per cent to 485.65 pence as the market opened.The Daily Mail, citing sources close to the Anglo-Dutch group, reported Shell weighed an opportunistic bid for BP as crude gushed into the Gulf, but was discouraged by the potentially uncapped legal liabilities.The Daily Mail had said Shell could yet bid for BP if another suitor emerged but Europe’s largest oil company by market value was unlikely to be the “first mover.”Analysts and industry sources said during the crisis last summer it was likely that both US oil giant Exxon Mobil and Shell – the only companies considered large enough to mount a bid – would run the slide-rule over BP.However, the two notoriously conservative companies were seen as likely to be discouraged by the open-ended nature of BP’s liabilities.Now BP’s shares have rebounded 65 per cent from their June low at 296 pence, to give BP a market value of around $140bn (£89bn), a bid would be much harder to mount, especially for Shell which is worth over $210bn.Exxon has a market value of almost $370bn.It is uncertain whether regulators on either side of the Atlantic would support a tie-up in top tier of the industry. Tags: NULL whatsapp last_img read more

EU suspends carbon market

first_imgWednesday 19 January 2011 8:42 pm KCS-content 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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Ads whatsapp Tags: NULL Sharecenter_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Show Comments ▼ EU suspends carbon market The European Union froze spot trade in its carbon market for a week yesterday – the longest period in its history – after a security breach, seeking to protect the battered reputation of the EU’s main weapon against climate change.The US, Japan and Australia have all delayed implementing similar cap and trade schemes, and the latest glitch to the EU system — by far the largest and most successful such scheme in the world — could detract further from adopting carbon trade as a global policy.The trading scheme limits the carbon emissions of all big EU factories and power plants by issuing permits for each tonne of carbon emitted, which companies can then trade among themselves.The European Commission suspended much of its Emissions Trading Scheme, the hub of a €92bn (£77.4bn) global market, following the suspected theft of about €7m of emissions permits from the Czech Republic’s carbon registry. It allowed trade in derivative markets to continue. This theft and a hacking attack on the Austrian registry on 10 January follows a raft of scandals to hit the market in the past two years, including VAT fraud, a phishing scam (or computer fraud) and the re-sale of used carbon credits.“All traders have left the market – this is serious,” said one trader.Europe’s top climate official, Jos Delbeke, said he was “speechless about the negligence some member states have been showing”. whatsapplast_img read more

UPS profit tops estimates

first_img whatsapp UPS profit tops estimates whatsapp United Parcel Service, the world’s largest package delivery company, has reported a quarterly profit that beat estimates and forecast record-high profits in 2011. UPS’ fourth-quarter adjusted operating profit rose to $1.08 (£0.67) per share, up 44 per cent from a year ago and topping the $1.05 per share expected by analysts.The gain was three cents-per-share more when factoring in a gain from the sale of a logistics unit. Revenue rose to $13.42bn (£8.44bn) from $12.38bn.US markets welcomed the news, boosting UPS shares by four per cent. “In less than two years from the recession, they already think they can exceed peak earnings,” said BB&T analyst Kevin Sterling.UPS said revenue-per-piece shipped improved 3.5 per cent in the quarter, mainly through higher base pricing and fuel surcharges. Average daily package volume rose 1.7 per cent in the quarter as well.On a conference call, UPS called the pricing environment “rational” and said rate increases imposed earlier this year have been “reasonably well received.”Atlanta-based UPS, which called for “moderate global growth in 2011,” said it controlled costs as compensation and benefit expenses rose less than volume.UPS handles goods equivalent to six per cent of US GDP and two per cent of global GDP in its trucks and planes, the company said. As a result, its shipment trends give a tangible picture of consumer demand. Tags: NULL Show Comments ▼center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Tuesday 1 February 2011 11:54 am alison.lock More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.com Sharelast_img read more

AIG wants sovereign funds

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily 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 ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut 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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tags: NULL AIG and the US government are hoping soverign wealth funds will buy a large trance of the insurer’s shares when it sells up to $20bn worth. With the government share sale expected to take place in May, AIG and the government have reportedly begun making contact with sovereign funds in Asia and Europe. Share KCS-content Sunday 13 February 2011 11:42 pmcenter_img whatsapp whatsapp Show Comments ▼ AIG wants sovereign funds last_img read more

Eurozone inflation revised down but oil and food costs expected to weigh

first_img whatsapp Tags: NULL KCS-content Show Comments ▼ Monday 28 February 2011 8:16 pm INFLATION in the Eurozone was revised down to an annual rate of 2.3 per cent in January, yesterday – surprising economists who had expected it to be held at the earlier estimate of 2.4 per cent.However, strong pressures from oil and food prices are expected to increase the harmonised index of consumer prices (HICP) by one or two percentage points in February.The first “flash” estimate of consumer price inflation in February for the Eurozone is released this morning.“We expect ‘flash’ preliminary HICP to have increased to 2.5 per cent year-on-year in February,” said Fabio Fois of Barclays Capital.An increase to just 2.4 per cent would take inflation to its highest level since October 2008.Core inflation – excluding food, energy, alcohol and tobacco – stood at 1.1 per cent across the single currency area for January.Despite food inflation dropping to 1.5 per cent, from 1.8 per cent in December, it is expected to drive prices upwards in coming months, along with rising oil prices.“We continue to expect energy and food inflation to remain the largest contributors to the headline inflation rate this year,” Fois said. “In terms of core inflation, we would expect it to keep moving sideways.”French price increases for January surprised on the downside recently, but yesterday Spanish consumer price inflation for February was estimated at 3.4 per cent – a strong upturn from January’s rate of three per cent.Across the European Union as a whole, consumer price inflation stayed at 2.7 per cent in January — one per cent higher than the annualised rate a year earlier. Share Eurozone inflation revised down but oil and food costs expected to weigh More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com whatsapplast_img read more

CBI calls for land auctions to boost growth

first_img Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com THE government should introduce “growth zones” to parts of the country that have become overly reliant on government funds in recent years, the Confederation for British Industry (CBI) said today.The group, which represents 240,000 businesses, called for de-regulation of some green belt areas, and land auctions in single areas, to stimulate growth. It said industrial parks should have autonomy over decisions such as planning permission and energy generation.In a letter to George Osborne before the chancellor’s budget on 23 March, the CBI said the government needs to provide a clear “road map” for reducing the 50p top rate of income tax.“Mobile talent needs a good reason to do business in the UK,” CBI head John Cridland said.The CBI wants more credit made available for mid-cap sized firms.“The volumes of debt raised in the listed and private placement market by mid cap firms is far smaller in the UK than in the US,” it said. “The budget should create the framework for a Mittelstand of mid-cap businesses by ensuring they can access the capital they need to expand at home and abroad,” Cridland argued. CBI calls for land auctions to boost growth KCS-content Sharecenter_img whatsapp Sunday 6 March 2011 11:07 pm 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap whatsapp Tags: NULLlast_img read more

Tax-free threshold on ISAs hit by change in inflation measurement from April 2012

first_imgWednesday 23 March 2011 9:25 pm ALLOWANCES for several direct taxes will rise at a slower rate than before, after changes made by chancellor George Osborne yesterday.The measure of inflation used to calculate increases in direct tax allowances will change from April next year, Osborne announced.Thresholds for capital gains tax (CGT), national insurance (NI) and ISAs, will now be pegged to the consumer price index (CPI) rather than the retail price index (RPI).The CPI typically runs below the RPI. In February the CPI jumped to 4.4 per cent (from four per cent in January), yet the RPI also spiked by 0.4 per cent, rising to 5.5 per cent.The change will bring a significant boost to the government coffers, according to Henderson’s Simon Ward.“Switching to CPI for direct taxes will raise £105m in 2012-13, rising to £1.08bn in 2015-16,” Ward said.However, CPI inflation will average 4.2 per cent this year – over twice the Bank of England’s target – the OBR admitted yesterday. It also revised up its inflation forecast for 2012, from two per cent to 2.5 per cent.In November the OBR forecast inflation at just 2.8 per cent this year, yet its prediction has been shattered in recent months. Higher expectations for government borrowing and the slowdown in growth were blamed on inflation by the OBR.“Higher-than-expected inflation is expected to squeeze household incomes and weaken consumer spending growth,” it said.“The upward revision to spending primarily reflects the impact of higher near-term inflation, which pushes up social security and debt interest bills,” the OBR also added. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndo 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap whatsapp Share center_img KCS-content Show Comments ▼ whatsapp Tags: NULL Tax-free threshold on ISAs hit by change in inflation measurement from April 2012 last_img read more

Tourist tax rise scrapped and Learjet raid delayed

first_img Share Tags: NULL Show Comments ▼ THE chancellor scrapped a planned rise in air passenger duty yesterday, but admitted that legal difficulties have shelved a change to aviation tax.Air passenger duty will be frozen this year, with a hike linked to the retail price index planned for April 2012, George Osborne said.The government said in the emergency June Budget it would look to switch aviation tax from a per-passenger to a per-plane duty, to ensure planes flying half-empty would be charged the same as a full flight. Osborne also stopped short of introducing a “Learjet levy”, or tax on business jets, trailed earlier this week to close a loophole exempting corporate jets from the air passenger duty. Osborne instead delayed the plan to 2012, after launching a consultation on the structure of the tax. Lord Sugar slammed this proposal as a PR stunt, claiming “the revenue on private flights, based on the same duties paid by holidaymakers, will not add up to a row of beans”. Wednesday 23 March 2011 9:54 pm whatsapp KCS-content whatsapp More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Tourist tax rise scrapped and Learjet raid delayed last_img read more

German figures show growth

first_img KCS-content 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 Famous, Now She Works In {State}MoneyPailBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com whatsapp More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPuffer fish snaps a selfie with lucky divernypost.com Share whatsapp German figures show growth center_img Berlin yesterday hiked its official German growth forecast for 2011 from 2.3 to 2.6 per cent, citing soaring consumer spending as the main reason behind the expansion. German authorities said that the average households’ disposable income should rise by 3.3 per cent this year and next. Thursday 14 April 2011 8:02 pm Show Comments ▼ Tags: NULLlast_img read more

Chelsea owner’s son buys £3m stake in oil investor

first_img Show Comments ▼ KCS-content Chelsea owner’s son buys £3m stake in oil investor Tags: NULL whatsapp Share More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Monday 18 April 2011 8:00 pm whatsapp THE 20-year-old son of Chelsea Football Club owner Roman Abramovich has followed his father into the oil and gas business by purchasing a stake in an investment vehicle specialising in the energy sector.Arkadiy Abramovich, who is the Russian oligarch’s oldest son, has bought a 26 per cent stake in Crosby Asset Management for £3m.The purchase, undertaken through his investment vehicle ARA Capital, caused shares in the AIM-listed investment firm to rocket yesterday.Abramovich bought the stock from Irish energy tycoon John McKeon, the entrepreneurial founding shareholder of Circle Oil, and investment banker Ilyas Khan. The pair still hold significant stakes in the company, which is incorporated in the Cayman Islands.Based in Hong Kong, the vehicle will focus on investments in natural resources in Australia, as well as North and South America. Roman Abramovich built his Russian oil and gas empire during the early 1990s, amassing a fortune estimated at around £7.4bn.Shares in Crosby closed up 48 per cent at 4.72p per share. last_img read more