Initial public offerings

Jitters in the IPO market attest to continued uncertainty, but are more likely to be speed-bumps on the road to recovery than road-blocks

• PGE in €1.4bn European offering
• Lex: European IPOs

Ukraine pays Russian gas bill

Ukraine’s prime minister, says the recession-ravaged country had squeezed enough funds from consumers and cash-strapped state coffers to pay a $500m October gas bill to Gazprom, Russia’s natural gas giant

EDF reactor timetable sparks concern

Potential delays to the construction of the state-controlled utility’s new generation nuclear reactor prompt the group to put teams to work around the clock

Vedanta awaits ruling on Asarco

The Indian mining group expects a court-ordered resolution this month of its $2.56bn bid for Asarco, the bankrupt US copper miner, that executives give a ‘50-50’ chance of success

Iraq oil deal puts pressure on Opec

ExxonMobil and Royal Dutch Shell, the two biggest western oil companies, won the right to develop Iraq’s giant West Qurna oilfield, raising the prospect of a big jump in Iraqi oil supplies

Watchdog forecasts gas glut

The world faces a natural gas surfeit that will cool prices, says the International Energy Agency, raising the prospect that Moscow’s hold over Europe’s energy security will loosen

Green policies expected to hit gas demand

The International Energy Agency believes that the world’s dependence on natural gas will drop dramatically if environmental measures are enacted to limit carbon emissions

Total profits hit by falling oil price

Third quarter profits at the French oil major halved to €1.87bn from €4.07bn following this year’s slide in the oil price which averaged $68 a barrel, 41% lower than for the same period last year