FTSE 100 oil company Tullow Oil published a trading and operation statement on Tuesday ahead of the group’s half-year result release showing record revenues of $1.05bn. The company raised its full-year production guidance as it said that high revenues were due to strong operational performance driven by production in Africa. The group indicated that average…
Volkswagen, Europe’s biggest automaker, has secured a majority stake in German-based heavy truck maker MAN SE, the company said on Monday. VW now holds 55.9 percent of the voting rights in MAN, which brings it a step closer to a tie-up with Swedish Scania. The company said it had made a mandatory offer to all…
Swiss Bank UBS said on Friday it has nominated the former president of Deutsche Bundesbank, Axel Weber, for election to join its board in 2012 and to chair the board from 2013 onwards. Weber’s nomination to the board of directors will take place during its May 3 shareholders meeting according to the bank. Weber is…
The Greek government is set to hold a second vote on Thursday on an austerity bill that forms part of the bailout deal with the IMF and ECB. Amid public protests Greece is expected to pass the bill which needs to be implemented to guarantee the next tranche of financial support. Greece’s Prime Minister George…
The Greek government is set to hold a second vote on Thursday on an austerity bill that forms part of the bailout deal with the IMF and ECB. Amid public protests Greece is expected to pass the bill which needs to be implemented to guarantee the next tranche of financial support. Greece’s Prime Minister George…
Christine Lagarde, the French finance minister, was late on Tuesday elected as the first woman to head the IMF. Her victory was sealed after a late endorsement from the US which saw her beat Mexican central bank governor Agustin Carstens to the post. Lagarde, who succeeds Dominique Strauss Kahn following his resignation in May to…
Christine Lagarde, the French finance minister, was late on Tuesday elected as the first woman to head the IMF. Her victory was sealed after a late endorsement from the US which saw her beat Mexican central bank governor Agustin Carstens to the post. Lagarde, who succeeds Dominique Strauss Kahn following his resignation in May to…
TomTom, the Dutch navigation system maker, on Tuesday lost an estimated €325.7m in market value as investors responded to the company’s profit warning published on Monday. The company said in a statement that it expects profits to decrease by almost half in 2011 compared to the year before. The drop was attributed to a decline…
TomTom, the Dutch navigation system maker, on Tuesday lost an estimated €325.7m in market value as investors responded to the company’s profit warning published on Monday. The company said in a statement that it expects profits to decrease by almost half in 2011 compared to the year before. The drop was attributed to a decline…
The IMF board’s 24 members are due to make a decision on who will be the next IMF managing director after the two key candidates had an opportunity to present all relevant information concerning their candidacy to the executive board. French finance minister Christine Lagarde remains a clear favourite for the top job as head…
