Citywire Top Stocks Daily News Digest

All the news from across the web about the companies featured in Citywire's Top Stocks

BG Group PLC

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• Offshore: BG Group has been a takeover target since its shares lost around 20% after warning on production forecasts at the beginning of the month

BP PLC

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• Bloomberg: BP has shut down a system associated with its Chicap pipeline near Mokena, Illinois, U.S., after a spill
• Bloomberg: OAO Rosneft, Russia’s largest oil company, began to receive responses from banks as it seeks to raise about $32.5 billion of loans to fund its acquisition of TNK-BP
• Reuters: TransCanada Corp would pay £131 million for BP’s 40% stake in the Crossfield Gas Storage facility, 50km north of Calgary, Alberta

First Quantum Minerals PLC

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• Bloomberg: The Zambia Environmental Management Agency approved First Quantum Minerals’s planned $640 million copper project in the southern African nation

HSBC Holdings PLC

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• Bloomberg: HSBC Holdings can reap a windfall from its $9.2 billion stake in a Chinese insurer without eroding the bank’s commitment to its most profitable emerging market, analysts said
• Financial Express: HSBC Bangladesh on Wednesday said it executed its first Renminbi denominated cross border export settlement for Avant Garde Fashion, a Dhaka-based company

Imagination Technologies Group PLC

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• Financial Times: Imagination Technologies’ bid for chip designer MIPS Technologies hit a potential snag after CEVA, the Nasdaq-listed semiconductor group, made an “unsolicited” cash offer worth $75 million, against $60 million offered by the UK chip designer

Lloyds Group PLC

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• The Australian: Lloyds Banking Group, one of the UK's biggest lenders, has appointed insider Paul Gordon as the new head of its loss-making Australian operations

National Grid PLC

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• Boston Herald: A group of 10 local unions in the US is suing National Grid after thousands of workers were denied their hard-earned wages for nearly a month
• BBC: National Grid is inviting views on its plans to bring power from offshore wind farms and Wylfa B in the UK into the electricity network in the next 10 to 15 years

Royal Dutch Shell Plc

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• Bloomberg: Shell was among the winners of new oil and natural gas blocks in Colombia
• Washington Post: Shell has lifted a month-long production warning on Bonny Light crude exports from Nigeria
• MarketWatch: Shell will invest around $1 billion annually in its upstream business in China to tap into the country's surging natural gas demand, China Daily reported Wednesday

Xstrata PLC

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• Reuters: EU antitrust regulators have cleared commodity trader Glencore's $32 billion takeover of Xstrata, virtually sealing the deal to create a mining and trading powerhouse without requiring asset sales
• Daily Mail: Glencore is set to draw up new loyalty bonuses for top Xstrata staff, after investors voted to remove £140 million in payments from the £45 billion merger