Rio Tinto might walk away from the world’s second biggest copper mine February 9, 2017 Rio Tinto is weighing whether to walk away from its interest in the world's second biggest copper mine. Chief executive Jean-Sebastian Jacques has told analysts the massive Grasberg site faces stoppages in its copper concentrate exports and permit issues with the Indonesian government, Reuters reported. The mine's operator Freeport McMoRan warned this could lead to cuts to production and the local workforce. [...]
RMT’s row over role of the guard to spread as it ballots Arriva Rail North workers for strikes February 9, 2017 Southern rail and Aslef union might have struck a deal in the long-running dispute over the role of the guard (subject to a members' referendum), but the Rail, Maritime and Transport (RMT) union is yet to follow suit. And now it's balloting workers on Arriva Rail North for strikes in another row over the role of [...]
Guy Hands’ Terra Firma completes disposal of all Infinis Energy assets February 9, 2017 Terra Firma has agreed to sell the onshore wind assets of renewable energy firm Infinis to JP Morgan, bringing to an end Guy Hands’ ownership of the Infinis group. Terra Firma, owned and run by Hands, floated Infinis in 2014 but took it private again after then-chancellor George Osborne introduced a series of levies on green [...]
Trump: I’ve got a corporate tax reform coming. It’s the best corporate tax reform. It’s just phenomenal. February 9, 2017 Airline shares rose this afternoon after it emerged Donald Trump is planning a "phenomenal" tax announcement in the next couple of weeks. At a meeting with airline bosses this afternoon, Trump promised to ditch "burdensome regulations" and said a corporate tax announcement in the next couple of weeks will "lower the overall tax burden of [...]
Apple boss Tim Cook has spent the day meeting the PM and Mayor of London February 9, 2017 Apple boss Tim Cook, arguably the most important man in tech, has spent the day meeting with British politicians. He started a whistle stop tour of the UK by heading to Glasgow, where he picked up an honorary degree from its university yesterday. And this morning he headed to 10 Downing Street for a chat with [...]
Commerzbank profits tumble for 2016 as restructuring costs stack up February 9, 2017 Commerzbank announced today that 2016 had taken a nasty chunk out of its bottom line, as restructuring costs and low interest rates took their toll. The figures The German bank revealed net profits attributable to shareholders for its full year of €279m (£237.6m), down 74.3 per cent from €1.1bn the year before. Profits for the fourth quarter [...]
Lurpak container maker aims to spread business globally with £500m US takeover February 9, 2017 UK packaging firm RPC Group’s shares dropped six per cent today after it announced a $640m (£511m) US acquisition. RPC, which makes containers for the likes of Lurpak butter, Philadelphia cheese and Dulux paint, has agreed to buy plastic food-packaging products firm Letica Group. Read more: RSA shares rise at the open as it disposes [...]
Bank of England appoints Charlotte Hogg as deputy governor as hawkish Kristin Forbes prepares to step down February 9, 2017 Charlotte Hogg has been appointed as a deputy governor to the Bank of England as the rate-setting Monetary Policy Committee’s Kristin Forbes prepares to complete her three-year term in June. The Treasury announced the appointment of Hogg to one of the Bank’s top roles for a renewable five-year term, starting on 1 March. Hogg became [...]
Italian bank UniCredit just confirmed it is €11.8bn in the red for 2016 February 9, 2017 UniCredit confirmed today it racked up losses worth billions of euros during a difficult 2016. The figures Italy's largest bank reported a net loss of €11.8bn (£10bn) for its 2016 full year, a significant drop from the €1.7bn net profit it reported for 2015. Meanwhile, losses in the fourth quarter plummeted to €13.6bn, down from a profit of €153m the year [...]
Severe delays on the Jubilee line due to faulty train at St John’s Wood February 9, 2017 There are severe delays on the Jubilee line this afternoon, due to a faulty train. Transport for London said the disruption, which is affecting services on the entire line, was caused by a faulty train at St John's Wood. TfL said it was currently fixing the broken down train. https://twitter.com/jubileeline/status/829691495926083589 The Jubilee line was disrupted [...]