Hochschild says full year is still on track despite production fall July 20, 2011 LATIN American precious metal producer Hochschild Mining said output fell 13 per cent in the first half, as expected, and that it was on track to meet its full-year target. It produced 11.1m silver equivalent ounces in the first half due to lower grades at the company’s two main Peruvian operations, declining output from its [...]
AFREN CUTS PRODUCTION FORECAST July 20, 2011 Africa-focused oil and gas firm Afren has cut its 2011 production guidance by at least 25 per cent due to facilities stoppages, as it warned its output level at the year-end would be lower than previously forecast. The company, operating mainly in Nigeria, said it expected full-year production to average between 25,000 and 30,000 barrels [...]
CITY MOVES | WHO’S SWITCHING JOBS July 20, 2011 Hamptons International The property consultant has appointed Giles Maude (pictured) and Graham Jones to its development land team, reporting to head of land Simon Grier-Jones. Maude joins the firm’s Southern Home Counties division as an associate in the Esher office, and Jones will lead the Cotswold and West team as an associate director in Cheltenham. [...]
BEST OF THE BROKERS July 20, 2011 ROLLS ROYCE Goldman Sachs rates the engine maker a “buy” with an 850p target price on its conviction buy list, as it believes it is well placed compared to its peers and has strong long-term growth prospects. The stock has more defensive characteristics than many cyclicals and should outperform, GS believes. The soon-to-close Tognum acquisition [...]
BlackRock profit rise beats expectations July 20, 2011 BlackRock, the world’s largest money manager by assets, has posted a 43 per cent jump in second-quarter profit, topping expectations. The New York-based company has long been known as a fixed-income institutional manager, but CEO Laurence Fink has pressed into new areas such as exchange traded funds and multi-asset products – areas that took in [...]
Cameron: I regret hiring Coulson July 20, 2011 David Cameron says he would not have employed ex-News of the World editor Andy Coulson if he knew what would emerge about phone hacking at the title The prime minister said that “with hindsight” it appeared the wrong decision and he would offer a “profound apology” if Mr Coulson was found to have lied to [...]
MPC says near term rate rise unlikely July 20, 2011 The Bank of England’s Monetary Policy Committee judged that recent economic weakness had reduced the chance that interest rates would need to rise in the near term, minutes to the Bank’s July meeting showed. Committee members voted 7-2 to keep rates at 0.5 per cent, as they did in June. Bank chief economist Spencer Dale [...]
LSE revenue up 14 per cent July 20, 2011 The London Stock Exchange, seen as a takeover target since the collapse of its bid for a Canadian rival, reported a 14 per cent rise in revenue for its financial first quarter driven by its smaller post-trade business. The UK exchange said revenue for the three months to the end of June rose to £190.2m. [...]
Eurostar sales rise fuelled by US passengers July 20, 2011 Sales and passenger numbers at Eurostar rose in the first half of the year, as more US travellers used the service. Revenue jumped four per cent in the six months to June to £421m. Passenger numbers were up by three per cent to 4.7m. The number of international passengers rose by 21 per cent, with [...]
The most humble day of my career July 19, 2011 RUPERT Murdoch yesterday described his appearance before the media select committee as the “most humble day of my life”. The embattled media baron said he had no inkling of the hacking scandal at the heart of his best selling newspaper, which now threatens to topple his entire empire. He told MPs he was let down [...]