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  • UK oil firms post mixed results as they aim to widen exploration

    first_img BRITISH oil explorers Premier Oil and Soco International flagged potentially transformational drilling plans for the second half of 2010 yesterday as they unveiled mixed results despite higher oil prices.Soco said its exploration programme, already under way in Vietnam and the Democratic Republic of Congo, could quadruple its reserves base, while Premier said drilling plans in the North Sea and Indonesia could double its reserves.“We’re very excited about them,” Premier chief executive Simon Lockett said. The company said it was now more confident of reaching its target of producing 75,000 barrels of oil equivalent per day (boepd) in 2012 and chief financial officer Tony Durrant said he expected production of over 100,000 boepd in 2015.Premier added that a 17 per cent rise in first-half oil and gas production and higher prices allowed it to swing to a profit after tax of $62m (£39.9m) from a loss of $27.3m.Soco’s first-half net profit fell 62 per cent to $12.0m due to a 23 per cent drop in production, higher taxes and a rise in costs.Analysts at Evolution Securities said Premier remained a potential takeover target but Lockett said he had received no recent approaches. Thursday 26 August 2010 8:13 pm More From Our Partners Brave 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.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.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.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com whatsapp Tags: NULL KCS-content Share UK oil firms post mixed results as they aim to widen exploration whatsapp Show Comments ▼last_img read more

  • Connaught in administration

    first_img Share Connaught in administration KCS-content Tuesday 7 September 2010 11:14 pm TROUBLED social housing repair firm Connaught put most of its business into administration yesterday, after its lenders refused to further fund the company. The FTSE 250 component said last night that its public sector business will be put into the hands of administrators KPMG, though its environment and compliance arms will remain in operation. The company suspended trading of its shares yesterday morning, and later said in an announcement to the stock market: “Following extensive discussions with the group’s secured lenders, it is now clear that sufficient support would not be extended to the group as a whole to enable it to continue trading as a going concern.”It added that an update on funding for its remaining business would be made today, once negotiations with lenders are complete. The value of Connaught shares froze at 16.65p yesterday, meaning a drop of over 90 per cent since a surprise profit warning in June. The company blamed government spending cuts for its dire financial state at the time, though rivals Mears and Rok stressed their social housing and public property businesses remained strong. Connaught drafted in Deloitte to examine its accounting practices in July, the results of which have not been made public. The company has around £220m of debt, provided by six banks and four other creditors.The Connaught administration will be one of KPMG’s largest jobs in several years. The auditor recently dealt with company voluntary arrangements for sports chain JJB and outdoor retailer Blacks.Support services companies compared: CAPITA● Aids the BBC, government and local councils with outsourcing.● First half pre-tax profit up 15 per cent to £163m.● Unite union currently balloting workers over strike action.SERCO● Runs the DLR and detention centres.● First half pr-tax profit up 21 per cent to £101.4m.● Signed a £415m contract to run a new prison in July.CONNAUGHT● Offers social housing repair work.● Annual results will show “material loss”.● Shares lost more than 90 per cent of their value after profit warning.ROK● Offers social housing repair work to local councils.● First half pre-tax profit fell by 50 per cent to £3m.● Company blamed financial mismanagement for the drop. whatsapp whatsapp Tags: NULL Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen 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 Fanlast_img read more

  • Vodafone will appeal Indian tax decision

    first_img Tags: NULL 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 PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Vodafone will appeal Indian tax decision KCS-content The lower court ruled that the Indian tax system has jurisdiction over tax bills in cross-border mergers.Vodafone, which is fighting a tax bill in India from its 2007 purchase of Hutchison Whampoa’s mobile business in the country, filed an appeal with the Bombay High Court in June challenging the tax department’s jurisdiction over the bill.The court dismissed its petition but said Indian tax authorities would not issue a final order to Vodafone for the next eight weeks, even though tax proceedings would continue. Vodafone was free to separately raise with them the issue of its liability to deduct tax on the transaction, it said.After the court ruling, Vodafone said that it would consider its next steps, which included the option of an appeal to the Supreme Court.Vodafone, which paid $11.1bn (£7.18bn) for the deal with Hutchison, has not said how much the authorities were seeking but it is estimated at around $2.6bn.Indian tax authorities have said Vodafone’s deal was liable for tax because most of the assets were based in India and, under Indian law, buyers have to withhold capital gains tax liabilities and pay them to the government. Vodafone has earlier said Indian law did not require it to deduct tax and that capital gains tax is usually paid by the seller. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily 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 ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ Vodafone has filed an appeal with India’s Supreme Court after its petition over a tax feud with authorities was dismissed. whatsapp Share Tuesday 14 September 2010 8:57 pmlast_img read more

  • Aberdeen inflows up on equity sales

    first_imgMonday 27 September 2010 8:13 pm whatsapp Tags: NULL KCS-content whatsapp Sharecenter_img Aberdeen inflows up on equity sales Show Comments ▼ 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 Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily 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 ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof FUND firm Aberdeen Asset Management said yesterday that inflows accelerated over the summer, with clients favouring equity funds despite volatile markets which have made investors cautious.The firm reported a net £621m of new inflows during July and August, above the £337m in the previous three months.The firm’s equity and money markets funds saw net inflows, while its bond funds and alternative portfolios – which include higher-margin funds of hedge funds and multi-asset funds – saw clients exit.The numbers appear to counter the wider sector short-term trend, with flows statistics for July from Lipper FMI showing sustained strength in sales of bond funds while new money invested in equity products slumped.Combined with buoyant markets, the inflows lifted Aberdeen’s assets under management – on which fund firms earn fees – 2.6 per cent to £168.8bn. Almost 70 per cent of that is evenly split between equities and fixed-income products, with alternatives and property at about 17 and 13 per cent respectively.“We remain firmly focussed on organic growth, generating cash and strengthening our balance sheet further,” said chief executive Martin Gilbert last_img read more

  • IS THE NUMBER OF UNEMPLOYED LIKELY TO RISE OVER THE COURSE OF THIS YEAR?

    first_img whatsapp PETER DIXON | COMMERZBANK“Concerns of a slowdown in real activity growth are not without foundation. I suspect that we are near the trough of the unemployment cycle and look for a flat September reading. However, we may not see steep rises in unemployment until public sector job cuts begin to bite in 2011.” MICHAEL SAUNDERS | CITIGROUP“The claimant count has roughly stabilised in the last two months. Surveys suggest that firms’ hiring plans have improved markedly over the last year and hence we expect that the claimant count will be roughly stable in the next few months rather than show a renewed major uptrend.”VICKY REDWOOD | CAPITAL ECONOMICS“Given that the public sector job cuts do not really start to bite until next year, the labour market could still hold up well over the next few months. However, surveys of private sector employment have deteriorated considerably recently, suggesting that hiring has ground to a halt.” Tags: NULL whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe 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.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap Sharecenter_img IS THE NUMBER OF UNEMPLOYED LIKELY TO RISE OVER THE COURSE OF THIS YEAR? Sunday 10 October 2010 11:08 pm Show Comments ▼ KCS-content last_img read more

  • ASDA appoints new top exec

    first_img Asda yesterday announced that experienced retailer Simon King will join the WalMart-owned supermarket business as its new chief operating officer in January 2011. He is currently the chief executive of supermarket and hypermarket operator Panda Retail, a subsidiary of The Savola Group, based in Saudi Arabia. Until 2009 he was chief of Tesco Kipa in Turkey and has had a long and varied retail career with both Tesco and Safeway. KCS-content whatsapp whatsapp Tags: NULL Share More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comRussell 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.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.org Show Comments ▼ ASDA appoints new top exec Monday 1 November 2010 8:42 pm last_img read more

  • Banking stocks fall on fears of Irish exposure

    first_img Banking stocks fall on fears of Irish exposure whatsapp whatsapp More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org 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 The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity 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.com Monday 22 November 2010 7:56 pmcenter_img BRITISH banking stocks fell yesterday on the back of uncertainty about their exposure to the Irish crisis. Barclays fell 2.7 per cent to 270.1p, while Lloyds dropped 5.8 per cent to 64p and RBS saw a 6.1 per cent fall to 40p.The falls in Lloyds and RBS stock were also exacerbated by the declaration by Independent Banking Commission member Clare Spottiswoode that state-owned banks could be broken up.Data from the Bank of International Settlements shows that the UK as a whole has an exposure of $140-$150bn to Ireland.And figures published by City A.M. yesterday revealed that RBS, Lloyds and Barclays have exposure to peripheral European debt equivalent to 113 per cent, 61 per cent and 42 per cent respectively.Creditors to Irish banks could be forced to take losses as a condition of the aid package being put together by the IMF and EU.UK?exposure to Irish debt was one of the reasons cited by chancellor George Osborne as justification for the UK’s contribution to Ireland’s rescue package, with fears that if Irish banks were allowed to fail, it could have a knock-on effect. Tags: NULL Show Comments ▼ Share KCS-content last_img read more

  • US considers capital rules for banking groups

    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 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 ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof KCS-content whatsapp Show Comments ▼ US considers capital rules for banking groups Share whatsapp BANK holding companies would not be allowed to dip below the strict capital standards of their federally insured bank units, under a proposal issued by US bank regulators yesterday.Advocates of this approach argue bank holding companies relied too heavily on their insured banking units as a source of capital strength during the financial crisis, leading to government bailouts.The rule proposed by the Federal Deposit Insurance Corp (FDIC) and other banking regulators yesterday would set a uniform risk-based capital floor across the banking industry, but will not necessarily spark any capital raising in the short term.US banks, pushed in part by industry regulators, have already built large reserve pools of capital in the wake of the financial crisis.“This should have been in place years ago. I’m not saying it would have stopped the crisis, but it would have helped to hold bank holding companies to the same standards,” said Paul Miller, bank analyst at FBR Capital Markets.The FDIC is required to take the action under the Collins amendment in this year’s Dodd-Frank financial overhaul law. Tuesday 14 December 2010 9:32 pm Tags: NULLlast_img read more

  • US issues revised plan for swap trading transparency

    first_img Share Tags: NULL KCS-content THE US derivatives regulator set out a revised position on trading platforms and requirements for swaps yesterday. The proposals would make trading in the most popular swaps as transparent as stock exchanges, while trying to ensure that requirements for less popular swaps don’t burden them too far.The Commodity Futures Trading Commission (CFTC) is working to bring the opaque swaps market out of the dark as part of a Wall Street financial overhaul mandated by Congress.Dozens of firms, such as IntercontinentalExchange, hope to qualify as swap trading venues, called swap execution facilities by regulators.The proposal would allow SEFs to have electronic trading systems similar to stock market order books, where bids and offers are continuously updated. But it would not force them to do so, as some feared it would discourage trading in less popular contracts.CTFC chairman Gary Gensler delayed the plans last week after Republicans and industry bodies argued the rules were too inflexible.The new plan fixes most of those issues, several swaps trading outfits said. “We applaud the CFTC for proposing these definitions for the trading of derivatives, and believe that they will increase transparency and create more efficient markets for end-users,” said Lee Olesky, chief executive of Tradeweb, which offers electronic buying and selling of swaps.Republican commissioner Jill Sommers, who criticised the original proposal as too narrow, voted against the plan, voicing concerns that some requirements may limit competition.A 60-day comment period is now open. Show Comments ▼ 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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Timescenter_img More From Our Partners Feds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.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.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.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com whatsapp US issues revised plan for swap trading transparency whatsapp Thursday 16 December 2010 9:04 pmlast_img read more

  • Management have bungled defence

    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 ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack 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 Proof IS this the most bungled takeover defence in corporate history? First, De La Rue managed to irk shareholders by keeping Oberthur’s approach under its hat for a whole month. Now management refuses to say whether it has been excluded from bidding for a key banknote printing contract from the Indian government. We think that De La Rue’s silence speaks volumes. According to Oberthur, there was recently a tender for 16,000 tonnes of Indian banknote printing, equivalent to the entirety of De La Rue’s current contract. If the French suitor is right, the situation is far worse than shareholders thought. Analysts at UBS were predicting De La Rue would lose 8,000 tonnes, or around half, of the contract in the future. If De La Rue has lost out on the Reserve Bank of India (RBI) deal, which won’t be re-tendered for another 12-18 months, Oberthur’s 905p indicative offer looks increasingly attractive.?In fact, it is the only thing propping up the stock, which closed at 836p yesterday.Analysts at Olivetree Securities reckon there is some 200p downside should Oberthur walk away, while Merrill Lynch sees the stock falling to 620p. Either way, it won’t be pretty. De La Rue claims it is winning new business at the same rate as last year. But there is no way that new wins can fill the gaping hole left behind by the RBI contract. Oberthur’s overtures might be supporting the stock for now, but the French firm has some talking of its own to do. It is still unclear how it could fund a bid; if it were to use debt, the combined firm would be painfully geared, with net debt of around five times earnings. Only the most daredevil shareholders will wait around to see if Oberthur is for real. KCS-content Wednesday 5 January 2011 7:57 pm Show Comments ▼ Management have bungled defence center_img 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 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’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Share whatsapp Tags: NULLlast_img read more