Unibet profits take a blow as it gambles on Spanish markets October 31, 2012 SWEDISH gambling group Unibet reported a 55 per cent drop in profit yesterday, as it was stung by higher levies on the betting industry and a one-off payment to Spain’s tax authorities. The company said revenue had risen to £43.8m in the three-month stretch to the end of September, up from £37.8m in the same [...]
Stagecoach buys 120 First buses October 31, 2012 Stagecoach has paid £12m for the Wigan bus business owned by a subsidiary of FirstGroup, the firms said yesterday. First, which is pruning its bus operations to focus on growth areas, said the deal involves 120 vehicles, 300 staff and some property including Wigan bus station. The purchase strengthens Stagecoach’s presence in Greater Manchester.
Lufthansa and Air France cheer October 31, 2012 Lufthansa will widen its cost-cutting drive to counter rising fuel prices and sluggish growth in its core market, the German airline said yesterday as it reported third-quarter operating profit of €648m. The rise beat forecasts, sending its shares seven per cent higher. Air France-KLM saw its shares jump eight per cent after the Franco-Dutch carrier [...]
Centamin to appeal Egypt ruling October 31, 2012 Egypt-focused gold miner Centamin is to appeal against an Egyptian court ruling that declared the company’s right to operate the Sukari mine invalid. It said it would take “vigorous action” to defend its rights to extract gold from its flagship asset. If necessary, Centamin said yesterday it will mount a “substantive legal challenge”. Shares in [...]
ArcelorMittal chops dividend as it tumbles to third quarter loss October 31, 2012 STEELMAKER ArcelorMittal yesterday slashed its dividend from 75 cents a share to 20 cents a share, on the back of weak third quarter results. The world’s largest steelmaker reported a third quarter net loss of $709m (£440m) over the quarter, down from £659m over the same period last year. Sales of steel dropped to $19.7bn [...]
Lower prices hit Bumi arm October 31, 2012 FTSE 250 miner Bumi said yesterday that lower prices had hit its Berau Coal arm, as the average price per tonne of the fuel fell 17 per cent quarter on quarter. Over the three months to September, Indonesian-based Berau mined 5.5m tonnes of coal, up four per cent from the previous quarter. The London-listed miner [...]
BG Group dives on warning of flat 2013 output October 31, 2012 SHARES in energy firm BG Group plummeted yesterday as it warned 2013 production would be flat. The FTSE 100 group said it did not expect to grow production next year, largely due to delays to projects. The shutdown of the non-operated Elgin/Franklin field in the North Sea and the deferral of the Jasmine field in [...]
Copper boost at Antofagasta October 31, 2012 CHILEAN miner Antofagasta yesterday reported a 3.8 per cent jump in copper output, boosted by higher production levels at its Esperanza mine. Over the three months to September, the FTSE 100 miner produced 179,800 tonnes of copper. The Esperanza mine produced 45,600 tonnes of copper in the period, up 21 per cent from the previous [...]
Glencore may end zinc deal October 31, 2012 GLENCORE has offered to end a zinc sales deal with global producer Nyrstar to win EU approval for its £56bn mega merger with Xstrata. The European Commission said yesterday it had extended its review of the Glencore and Xstrata mega merger until 22 November, as it considers the competition impact of the merger between the [...]
Strong jump in City jobs market as firms take on more risk staff October 31, 2012 THE CITY jobs market improved sharply last month, according to data out today from two recruitment agencies, as the economy continued to recover from the double dip recession. Morgan McKinley recorded an 11 per cent jump in opportunities on the month, from 2,205 in September to 2,457 in October. And Astbury Marsden saw a 10 [...]