Kryso to announce £130m deal with Chinese group July 27, 2010 KRYSO RESOURCES, the Aim-listed gold explorer, is this morning expected to announce a tie-up with China Nonferrous Metals International Mining (CNMIM) worth £130m. CNMIM will take a 29.9 per cent stake in Kryso for £10.9m through a conditional placing to help the company develop its Pakrut gold project in Tajikistan. CNMIM will give an additional [...]
US property price survey suggests modest growth July 27, 2010 AMERICAN single-family home prices rose more than expected in May, reflecting robust spring sales spurred by homebuyer tax credits, a home price survey showed yesterday. The Standard & Poor’s/Case Shiller index showed prices in the biggest US cities had risen 4.6 per cent in May from the same month last year. Only Las Vegas registered [...]
SAP disappoints with upgrade July 27, 2010 SAP, the world’s biggest maker of business software, raised its 2010 sales forecast by less than the market had hoped yesterday given a rebound in global technology spending. The German company raised its 2010 growth forecast for non-IFRS key software and software-related service revenue (SSRS) to a range of 9-11 per cent from the previous [...]
Banco Popular’s profits plunge July 27, 2010 Spanish bank Popular’s first-half profit fell by a fifth due to the continued slowdown in its core bank business and lower one-time gains, it revealed yesterday. Bad loans as a percentage of the total loan book rose to 5.04 per cent at the end of June from 4.91 per cent at the end of March, [...]
Danone cautious on Europe July 27, 2010 French food group Danone said yesterday that its operating margin would stay flat this year as the economic crisis continues to hurt consumer demand in Europe. The world’s largest yoghurt maker also said the cost of milk would rise 10 per cent this year, more than the five to seven per cent it had previously [...]
Nasdaq OMX profits soar in surprise jump July 27, 2010 NASDAQ Group posted a profit rise of nearly 40 per cent yesterday on the back of a sharp jump in stock and option trading, beating expectations. Transaction revenues rose a surprising 20 per cent from a year ago, reflecting the volatility and volumes brought on by the May “flash crash” and overall concern over Europe’s [...]
DuPont raises 2010 forecast July 27, 2010 CHEMICAL maker DuPont forecast 2010 earnings well above expectations yesterday, boosting its shares, as the rebounding global economy continued to fuel the firm’s recovery. The third-largest US chemical maker said its second-quarter profit nearly tripled, offering a positive read on global economic health as many companies have been reporting better-than-expected quarterly profits. “This is as [...]
Continental staff primed for top jobs in merger as UAL executives take flight July 27, 2010 UAL and Continental Airlines, which plan to merge this year to create the world’s largest airline, announced a new management lineup yesterday that puts Continental executives in choice spots. UAL, parent of United Airlines, and Continental, said they have proposed naming Continental chief financial officer Zane Rowe as chief financial officer of the combined company. [...]
Canon boosted as camera and printer demand rises July 27, 2010 JAPANESE camera and office equipment maker Canon yesterday posted a 153 per cent rise in quarterly profit, a bigger than expected climb on robust sales of its high-end cameras. For the year to 31 December the maker of IXY compact cameras and upmarket EOS cameras kept its operating profit outlook at 360bn yen (£2.6bn), compared [...]
CITY MOVES | WHO’S SWITCHING JOBS July 27, 2010 ERNST & YOUNG The accountancy firm has appointed Jonathan Summers to its information technology advisory team as a director focusing on strategic rationalisation, the process of removing technology complexity to improve business performance. Summer has over 14 years of experience with IBM, where his roles included establishing a global delivery capability for data migration in [...]