Updates from Shell, Anglo American and BAE
Filed under: Investing
However some Asian indexes found progress tougher going today with the Hang Seng finishing just +0.11% higher at 20,653 points.
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A quiet day for corporate news. First Shell, which has run into problems with the testing of its Arctic Containment System and has now revised its 2012/2013 Alaska exploration program. During testing the containment dome aboard its Arctic Challenger barge was damaged. Shell says "some days" will be required to repair and fully assess the situation.
"In order to lay a strong foundation for operations in 2013, we will forgo drilling into hydrocarbon zones this year. Instead, we will begin as many wells, known as `top holes,' as time remaining in this season allows."
Shell is thought to have spent well over £2.5bn in the last four years in the Chukchi and Beaufort seas, off the coast of Alaska and continues to face legal action and the threat of ice floes.
Next, Anglo American Platinum says work at its strike-hit Rustenburg operations will resume shortly. Recently the South Africa's government attempted to disarm miners in efforts to end the labour unrest. Industrial relations remain hugely difficult.
"The situation in Rustenburg," says the company, "remains calm and our current intention is to resume operations on Tuesday morning, 18 September, which will provide time for the government to implement further security measures. As we expect it will be possible for our employees to return to work safely on Tuesday, the paid suspension period will end on Monday evening."
Finally, the the proposed £30bn BAE Systems and EADS merger continues to run into problems; a plan to issue a rays of 'golden shares' to major governments involved looks to be illegal.
Brussels would still need persuading that the shares issue could be overcome; previously Brussels has claimed the British Government's golden shares holding in airports operator BAA was illegal. Worries too about a leadership structure abound.
It's thought Angela Merkel will commission a report on the consequences for German jobs on the move while the synergies between the major players take their time to materialise. Can this deal fly?