The benchmark German bond yield dipped below one per cent on Thursday, a move that has major ramifications beyond the eurozone’s biggest economy. Meanwhile, France’s finance minister has said that his country would no longer try to meet deficit targets, imperilling the EU's financial stability pact.
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Tethys Petroeum (TPL) boosted revenues 5 per cent in its latest quarter and predicted a substantial rise in cashflow in 2015 as its gas development programme in Kazakhstan builds momentum. Second quarter revenues were up to $7.1m, while operating losses reduced were down 18 per cent $3.7m.
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BHP Billiton (BLT) declared its preference for a demerger of its unwanted aluminium, manganese and nickel assets, setting the stage for the formation of a separate company that could be worth up to £8.5bn.
The board of Balfour Beatty (BBY) has further considered the terms of the offer from Carillion made on 14 August 2014. The board said that the proposal remains unchanged to that rejected on 11 August 2014, and has reaffirmed its rejection of the proposal.
Oil & gas explorer Eland (ELA) is in talks with lenders to take on more debt after buying a stake in an onshore oil field in the Niger Delta. An existing $22m (£13.2m) facility with Standard Chartered remains undrawn, but Eland said it wants to “significantly increase” borrowing capacity by entering into a reserve-based lending agreement. A subsidiary of Eland has agreed to acquire a 40 per cent. participating interest in the Ubima Field from Allgrace Energy Limited.
RapidCloud International (RCI) has signed a contract with the registrar of companies for a country in Southeast Asia, and also has won a contract with the courier division of a budget airline. The software solutions provider did not disclose the name of either of the companies, but said the contracts are helping it to gain traction in significant new markets.
OTHER COMPANY NEWS:
Fortune Oil (FTO) says its overall performance is in line with expectations and the board remains optimistic about its prospects. Fortune says this is despite the Chinese government's plans to accept a slower economic growth than previously with the economic growth rate of 7.5 per cent in Q214 in line with the government growth target of 7 per cent.
Russia's state-controlled energy giant Rosneft has asked the Russian government for a $42bn loan, as it starts to feel the pinch of Western sanctions.
It's emerged that a media firm that was recently acquired by Alibaba Group Holdings has reported that a review of its finances revealed possible accounting irregularities. The matter will raise eyebrows given the upcoming US IPO of the Chinese e-commerce giant.
US drinks giant Coca-Cola has bought a 16.7 per cent stake in Monster Beverage in a cash deal, as it looks for growth away from soft drinks. In the $2.15bn deal, Coca-Cola will transfer its worldwide energy business to Monster.
