BP leads exodus of companies

first_img BP leads exodus of companies Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe 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 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 Wrap Monday 21 February 2011 9:16 pm whatsapp whatsapp OIL-GIANTS BP and Shell yesterday evacuated staff from Libya, as pro-democracy riots descended into chaos last night.The London-based oil majors, as well as several other energy firms operating in the oil-rich north-African nation, are working to remove staff from danger.Dutch energy giant Shell, German oil provider Kassel and Wintershall ­– the oil unit of chemical group Basf ­– also said they were pulling staff from the country. BP, which has a $900m (£556m) programme in the region, said it had suspended preparations for drilling in Libya as a result of the violence, but denied reports it would permanently end operations there. A spokesman for the company said around 40 employees and their families had been flown out of Tripoli. “The remainder of the companies employees in Libya will leave the country in due course and in accordance with enforced curfew,” he said. Share KCS-content Show Comments ▼ Tags: NULLlast_img read more

Price rise boost for Dragon Oil

first_img Share whatsapp Dragon Oil’s profit soared 49 per cent in 2010 on higher oil prices as the Turkmenistan-focused company said it had widened its scope for potential acquisitions to include West Africa. Dragon Oil’s pre-tax profit jumped to $514.7m (£318.2m) in 2010, slightly behind a consensus of $517m in a poll of five analysts, from $345m the year before. The company’s profits benefited from stronger oil prices in 2010 and after its daily rate of production rose 5.5 per cent to 47,211 barrels of oil per day. Price rise boost for Dragon Oil Show Comments ▼ Tuesday 22 February 2011 7:19 pm whatsapp KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe 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 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 Wrap Tags: NULLlast_img read more

Fighting a war for talent won’t be cheap

first_img Wednesday 2 March 2011 8:55 pm KCS-content whatsapp whatsapp Fighting a war for talent won’t be cheap 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 Show Comments ▼ Share WHEN Peter Sands addressed investors yesterday, he did so safe in the knowledge that the bank has notched up eight consecutive years of growth.It is an accomplishment made all the more impressive because it was achieved despite the near implosion of the banking sector in 2008. The only dark spot in an otherwise robust set of results was costs, which grew by over $1bn or 13 per cent, compared to a 5.8 per cent rise in operating income. Sands said the bank was now engaged in a “war for talent”. The demand for top flight bankers who can speak Cantonese or Mandarin (not to mention the languages of StanChart’s other markets ) is higher than ever, but the supply can’t keep up. That partly explains why the cost to income ratio jumped from 51.3 per cent in 2009 to 55.9 per cent, although investment in new business is also partly responsible. Management expects the ratio to stay flat in 2011 but, as the son of a naval officer, Sands will know that fighting a war is not cheap. We think that costs as a proportion of income will inevitably edge up further in 2011. Take HSBC, in many ways one of StanChart’s closest rivals, which saw its expenses grow by a similar amount to take the cost to income ratio to 55 per cent in 2010. It expects costs to peak in 2011 before falling back to around 52 per cent of income by the end of 2012. That doesn’t mean Sands should take out costs for the sake of it. Investors will have to accept that higher expenses in the medium are a price worth paying for growth. If StanChart wins the war, it will be more than worth it. Tags: NULLlast_img read more

Cairn jumps on UBS upgrade

first_imgMonday 28 March 2011 7:53 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndozenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comUndogazillions.comCelebrities Side By Side With Their Younger Selvesgazillions.comUndoNext RefinanceThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryNext RefinanceUndoGameday News40 Abandoned Stadiums That Once Made Sports HistoryGameday NewsUndobonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comUndoLuxury SUVs | Search AdsGet Unsold 2020 Cars For A Fraction Of Their ValueLuxury SUVs | Search AdsUndoSmartAnswers.netThis New Volkswagen SUV Is The Car Of Your Dreams.SmartAnswers.netUndo KCS-content Cairn Energy shares enjoyed a boost yesterday after UBS upgraded the firm to a “buy” rating on expectations of positive drilling results. Cairn has impressed the analysts with controversial plans to explore oil deposits in Greenland. The Indian oil minister also hinted yesterday that Cairn’s sale of most of its Indian unit to Vedanta could be given approval next month. 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 whatsappcenter_img Cairn jumps on UBS upgrade whatsapp Show Comments ▼ Share Tags: NULLlast_img read more

Amlin Japan losses set to reach £150m

first_img whatsapp Amlin Japan losses set to reach £150m KCS-content 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.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Tuesday 5 April 2011 8:08 pm Show Comments ▼center_img CATASTROPHE insurer Amlin yesterday said it expected to lose up to £150m in claims from the twin earthquake and tsunami catastrophe to hit Japan last month.Amlin, a Lloyd’s managing agent, said it estimated its Japan losses would range from £80m to £150m based on a $12-25bn (£7.4-15.5bn) loss to the overall industry.It was exposed to a £110m loss from the earthquake that decimated Christchurch in New Zealand in February, while floods in Australia in January would cause £15m of claims, it said in an update on its first-quarter catastrophes.Its maximum loss already this year could therefore hit £275m before any claims from US hurricanes, which start in about August, are added.But underwriting director Simon Beale said it was protected against any further heavy losses this year.“Amlin’s reinsurance programmes provide increased levels of reinsurance protection for any further catastrophe events during 2011,” he said.The losses in Japan will be to its marine insurance, commercial property and reinsurance business lines.But Beale said insurance premium rates were showing signs of rising in areas affected by the disasters, offering some hope that the losses could be offset by higher income in future.“Early market signs suggest that…loss affected areas will see strong rate increases,” he said. Amlin’s shares closed up 0.75 per cent. Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeFilm OracleHer Love Triangle Inspired 3 Of The Most Popular Songs Ever WrittenFilm OracleLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryNext RefinanceThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryNext RefinanceAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search Adszenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorybonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comSmartAnswers.netThis New Volkswagen SUV Is The Car Of Your Dreams.SmartAnswers.net whatsapp Tags: NULLlast_img read more

Euroset confirms pulling its £800m IPO

first_img John Dunne Show Comments ▼ Thursday 14 April 2011 10:22 am The already shaky climate in the UK’s new issues market worsened today as Russian mobile phone retailer Euroset pulled its £800m issue.The flotation has been dogged by uncertainty because of nervousness in the markets, with investors increasingly unwilling to pay up for what they deem to be overvalued stock. City A.M. broke the news at 3pm, after bankers close to the deal said the decision to pull the float was taken around lunchtime.Euroset has now officially confirmed the postponement, with chief executive Alexander Malis citing difficult market conditions as the reason for the delay.“Although there was increased interest from the investment community in Euroset, we decided not to proceed with an IPO in the challenging and volatile market conditions,” Malis said.“The outlook for Euroset is favourable and we remain committed to the Company and to achieving our strategic objectives. Euroset will continue to pursue its strategy of expanding its retail operations going forward and maintaining leadership position in the market. We will keep investors informed about our development plans.”Three issues have been pulled from the London market in the past couple of weeks; Topaz Energy, which wanted to raise £300m; on Tuesday the online payments group Skrill pulled its £80m cash-raising; and the vacuum technology group Edwards last week pulled its £375m offer.There were also a couple of Russian floats pulled from the market last month.The Euroset deal was expected to net Russian billionaire Alexander Mamut more than £500m. Mamut is a shareholder in the troubled retail group HMV and he was also expected to subscribe for shares in Nomos Bank, a Russian IPO set to price within the next few weeks. Share 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 PastSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBe Euroset confirms pulling its £800m IPO center_img whatsapp 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe 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 Wrap whatsapp Tags: NULLlast_img read more

Macau outlook ‘sound’ despite underwhelming growth

first_img Macau has posted lower-than-expected gross gaming revenue for June Macau outlook ‘sound’ despite underwhelming growth Macau’s gaming outlook remains “fundamentally sound” despite a slump in the share prices of several Hong Kong-listed casino operators after slower-than-anticipated monthly revenue growth, according to investment firm Jefferies.A 12.5% increase in revenue from so-called “games of fortune” to $2.78bnin June was significantly lower than analysts’ expectations of about 18%. The share prices of Galaxy Entertainment, Melco International, Sands China and Wynn Macau all fell in the immediate aftermath of the disclosure.However, Jefferies managing director David Katz cautioned against drawing long-term conclusions from results that had “significantly” missed consensus estimates.“The opaque structure of Macau has resulted in wide disparities to intra-month checks the past two months and in the past, which can increase volatility,” he stated, according to Barron’s.Katz estimated third-quarter gross gaming revenue of 10.7% and added that the second quarter had not “altered our views on the upcoming quarter or long-term capabilities as we believe business remains fundamentally sound”.The figures represented a 23rd consecutive monthly increase in Macau’s gross gaming revenue. Accumulated GGR for the first half of this year is up by 18.9% at $18.6bn in comparison with the corresponding period last year.However, Japan is likely to provide a further challenge to Macau in the long run.Last month, law-makers in the country’s lower house passed an integrated resort implementation bill and extended the Diet’s session until July 22 in an effort to give the upper house a chance to sign off the legislation, which would open up the country to regulated casinos. Regions: China Macau Topics: Casino & games Finance 5th July 2018 | By contenteditorcenter_img Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Casino & gameslast_img read more

Nektan CEO hails Asia progress after record results

first_img Nektan’s full-year financials boosted by increasingly “sophisticated” Asian market Subscribe to the iGaming newsletter Finance Topics: Finance Nektan CEO hails Asia progress after record results AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling Email Address Regions: Asia Nektan is benefiting from Asia’s transition from a single-solution to “sophisticated” multi-vendor market for operators, according to the B2B and white label gaming software provider’s interim chief executive, Gary Shaw.In a trading update this (Wednesday) morning, Nektan confirmed that it had posted a sharp 48.1% increase in net gaming revenue for the 12 months through to June 30 to £19.4m (€22m/$25.7m) after an 18.5% rise in first-time depositors in the final quarter, with “rapidly accelerating demand… especially in Asia”.Shaw told iGamingBusiness.com that Nektan is building on the momentum of its record results by launching its bonus and CRM tools in Asia “in the next couple of weeks” and revealed that the company is targeting 16 site launches this quarter in its home market of the UK and internationally through existing and new partners.However, Nektan’s positive outlook for Asia contrasts with that of Playtech, which issued a profit warning on Monday after revealing that its full-year revenue from the continent is on course to be about €70m lower than expected due to an “increasingly competitive backdrop” and “a particularly aggressive pricing environment from new entrants” towards the end of the first half of the year.According to Shaw, operators in Asia are becoming less reliant on turnkey solutions, with other “sub-set” options now on the table.“There are new entrants in Asia and we are one of them, and our focus is on operators across Southeast Asia, where there are 650 million people,” Shaw (pictured) said.“As we are new to the market and the market is so large, it’s a fantastic opportunity for us. If you’ve already scaled your operation in Asia, it’s going to get harder.“Rather than just using turnkey solutions, as was the case for several years, operators are now interested in new entrants that are coming in with better sub-set products, so people with niche game content layers and data analytics tools are benefiting.“There are still turnkey solutions, but now there are also additional products and that’s why you’re seeing some margins drop away.“The market is shifting from a single-solution approach to a multi-vendor approach with most operators, who want to go with the best-in-class option. It’s just a sign of the market becoming more sophisticated.”Nektan’s bonus and CRM tools will be switched on in Asia imminently via “a couple of operators”, Shaw added. “We been testing with them for about a month,” he said. “That’s going to be very exciting for us in Asia.”In March, Nektan started offering its B2B gaming platform, Evolve Lite, in Asia for the first time through a partnership with Tyche Digital Malta Limited. Nektan said in its trading update that it is in talks with a number of industry partners to integrate the solution on a platform-to-platform basis in the next two quarters.Closer to home, Nektan is seeking expansion in Eastern Europe, as well as Scandinavia and, in particular, Germany.In May, Nektan announced that it had linked up with Metric Gaming to provide a racing and sportsbook offering in the US.Nektan is also in discussions with five studios with the aim of making its proprietary remote gaming server available to them. The studios are spread across Australia, Japan, India and the US.“We will make co-operation announcements in the next quarter,” Shaw said. “They will use our RGS solution in Europe and Asia in the first instance as those markets have scaled.” 4th July 2018 | By contenteditorlast_img read more

PokerStars plots ‘unique’ VR offering

first_img21st September 2018 | By contenteditor Casino & games Commercial launch of new software in the pipeline Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter PokerStars plots ‘unique’ VR offeringcenter_img Topics: Casino & games Tech & innovation Social gaming The Stars Group has launched a preview of its new virtual reality online poker software on PokerStars, with a pledge to take the card game into the “next generation”.PokerStars VR is a free-to-play, social poker game that enables players to handle cards and chips as they would do in the real world. Punters can also pick up tells from other players, chat in real time and handle interactive props at the table.Other features include the option to play in five virtual reality settings: Macau 2050, The Macau Suite, The Showdown Saloon, Monte-Carlo Yacht and The Void.The initial service will be offered as a No-Limit Hold’em version for invitees. The multiplayer game is currently in a closed beta with 100 playing and testing the game via Oculus Rift, HTC Vive and Steam.The Stars Group did not put a timeline on the commercial launch of the service.Severin Rasset, director of poker innovation and operations at PokerStars, said: “PokerStars VR is a chance for us to take this amazing technology and bring something totally unique to poker players.“Poker is about interaction. It’s been bringing people together for well over a century.“We’re really excited to invest in the next generation of the game and to give players the opportunity to meet in a brand-new virtual reality dimension.”A commercial launch would support Stars’ ongoing growth strategy, which also includes a focus on expanding the Sky Betting & Gaming (SBG) business.Earlier this week, Stars said that total revenue at SBG amounted to £670.5m (€746m/$876m), up 30% on the previous year. Gross profit was also up 33.2% to $500.1m. Subscribe to the iGaming newsletter Email Addresslast_img read more

Acquisitions drive growth for Better Collective in Q3

first_img23rd November 2018 | By contenteditor iGaming affiliate marketing specialist Better Collective has credited its M&A activity as a key factor in its 68% year-on-year increase in revenue for the third quarter of the year.Revenue for the three months ended September 30th grew to €11.1m, driven primarily by acquisitions.During the quarter Better Collective finalised the acquisition of Austrian sports betting affiliate Bola Webinformation, strengthening its position in German-speaking markets. It also acquired Thessaloniki-based affiliate WBS and Malta-based KAPA, giving it a market-leading position in Greece.When acquisitions were stripped out, organic growth accounted for 15% of the quarterly increase in revenue.The bulk of revenue was generated from revenue share agreements with operators, accounting for 84% of the quarterly total. A further 10% came from cost-per-acquisition fees, and the final 6% from other sources.During the quarter Better Collective also saw a significant increase in new depositing customers, which jumped 102% year-on-year to 67,000. Better Collective chief executive Jesper Søgaard (pictured) noted that as the majority of these customers had been signed up on revenue share-based contracts, this would continue to drive revenue growth in future quarters.The quarter also saw the company generate its first US revenue streams, though did not break out numbers for the market.“In Better Collective, we have been preparing for entering the US market for quite some time and we already have US-focused products in place which generated the first revenue streams late in the quarter,” Søgaard  said. “While we do not expect organic growth to do it alone, we believe that Better Collective has a unique offering in terms of technology and know-how in order to find attractive business in this new and potentially very big market.“My expectation is that we will create new business organically as well as through collaborations and acquisitions.”The revenue growth led to increases in costs, in particular staff-related costs, which climbed 59% to €3.3m. Direct costs relating to revenue were up 50% year-on-year at €1.2m. Total costs jumped 81% to €7.4m.Operating profit for the quarter was up 58% from the prior year at €3.6m, with the profit for the period after taxes of €939,000 up 46% at €2.5m.For the nine months ended September 30, revenue was up 68% at €28.3m, though costs associated with acquisitions hit profitability. Profit for the first three quarters of 2018 was down 54% year-on-year at €2.3m.Looking ahead, the company is focusing efforts on growing its US affiliate business. It said that activities in the market began to generate revenue late in Q3, growing at high rates from a low base.While it is currently running all US activities from a dedicated team based in Denmark and Paris, it is exploring M&A opportunities to develop a greater presence in the market, and aims to establish a permanent US base next year.Image: Better Collective Acquisitions drive growth for Better Collective in Q3 Topics: Finance Subscribe to the iGaming newsletter Affiliate looking at opportunities to grow US presence after generating first revenue from the market in Q3 Finance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more