|Thomas Cook Group plc could see hundreds of jobs culled as it closes regional office|
|Thursday, 14 June 2012 08:25|
News round up: Thomas Cook, Microsoft, EasyJet, Tullow Oil, City Banks, Oil price.
Microsoft is in talks to buy a leading social network for companies for more than $1bn, according to reports. A deal for Yammer could be sealed as soon as today, Bloomberg reported, citing unidentified sources. Microsoft already owns a range of business products, and adding Yammer would step up the rivalry with Salesforce.com, which landed social-marketing tools when it paid $745m purchase for Buddy Media earlier this month.
Africa is to get its own version of easyJet this summer after a deal was signed to launch a low-cost, pan-continental airline with fares starting from $20. The airline, Fastjet, will be listed on the London Stock Exchange. Sir Stelios Haji-Ioannou, the founder of easyJet, has been talking for months to Lonrho, the pan-African trading company.
France’s newly elected Government has abruptly suspended licences to drill for oil off the coast of French Guiana in a potentially shattering blow for Shell and Tullow Oil. An exploration well less than 160km (100 miles) off the South American colony struck a hydrocarbon deposit at a first attempt in September, sparking excitement about prospects for as much as $80bn (£51bn) in oil.
George Osborne is set to unveil an historic overhaul of Britain's largest banks that will force them to separate their retail and investment banking operations and prevent problems at City banks "spilling onto high streets". In a Mansion House speech tonight, the Chancellor will hail the government's publication of a White Paper on banking as a move towards "fundamentally reforming" the industry.
The oil price could almost halve later this year if the crisis in the Eurozone escalates, Credit Suisse believes. “Brent oil prices would again hit $50 (£32) a barrel” in a worst-case scenario, according to analysts Jan Stuart and Stefan Revielle. "Oil demand would deflate sharply following acute crises of confidence."
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