Cobbold is back on board after two month absence from UBM March 9, 2015 TIM COBBOLD was back at the helm of UBM yesterday after his absence from the events group left the company rudderless since January. The chief executive has taken the past two months off due to an unspecified operation. However, the timing was less than ideal as it coincided with the absence of the company chairman [...]
Alcoa buys RTI International Metals in bid to boost aerospace arm March 9, 2015 US metal manufacturer Alcoa is to pay $1.3bn (£860m) for RTI International Metals, in a stock-for-stock deal with an enterprise value of $1.5bn. Alcoa, which is best known as an aluminium producer, said yesterday that the deal will boost its aerospace business. RTI specialises in titanium and products and services for the commercial aerospace, defence, [...]
Antofagasta copper production hit by protests at Chilean mine March 9, 2015 Mining company Antofagasta yesterday revealed that copper production has been reduced by an estimated 5,000 tonnes as a result of ongoing protests at the Los Pelambres mine in Chile. Protestors are seeking action by Pelambres and the government to help alleviate the current drought conditions in the area. Antofagasta said discussions regarding water availability have [...]
Goldman Sachs warns oil price will fall again March 9, 2015 OIL PRICES could fall again, reversing the rebound rally the commodity has experienced in recent weeks, Goldman Sachs has warned. According to analysts at the bank, the fact that the pricing rally is so premature has kept it “expecting that prices will remain below the current forward curve in 2015”. “While we reiterate our out-of-consensus [...]
SABmiller eyes up African beer market growth March 9, 2015 Affordable brands and more disposable income were the key to success said SABMiller yesterday, as it claimed the African market was coming of age. The multinational beverage company said the continent was showing great promise as a market for beer and SABMiller was best-placed to capitalise on the opportunity. The firm said the average beer [...]
BrewDog to craft 130 new jobs as demand for its product soars March 9, 2015 Speciality beer firm BrewDog yesterday announced its intention to create up to 130 new jobs as it seeks to capitalise on soaring demand for craft ales. The Aberdeen-based brewer was founded in 2007 and has seen rapid expansion in recent years and now exports beers and ales to more than 50 countries. The company, set [...]
Balfour Beatty in £250m deal to manage London’s flood defences along Thames Estuary March 9, 2015 Infrastructure firm Balfour Beatty has been signed up to help strengthen London’s flood defences as part of the 10-year Thames Estuary asset management programme. The company said yesterday the contract would be worth up to £250m. The programme, led by engineering consultancy CH2M Hill, is aimed at managing tidal flood defences along the 170km of [...]
Moneysupermarket.com loses non-executive directors Michael Wemms and Robin Klein March 9, 2015 Moneysupermarket, the price comparison site, yesterday announced the departure of two senior directors. Michael Wemms and Robin Klein announced they would be standing down from the board at the company’s annual general meeting on 30 April. Wemms, who has been the senior independent non-executive director since the site’s listing in 2007 and chaired the company’s [...]
Tesla to cut 180 of China staff as sales fail to meet expectations March 9, 2015 Electric car maker Tesla Motors yesterday said it was cutting about 30 per cent of its staff in China. Tesla, led by billionaire Elon Musk, will eliminate some positions as it makes structural changes to its business in China, Gary Tao, a local spokesman for the car maker, said. He added, however, that he didn’t [...]
Gemfields confident on growth in demand after strong results March 9, 2015 Pre-tax profits at mining firm Gemfields more than trebled between the first half of the 2014 financial year and the six months to 31 December 2014, jumping from $7.8m (£5.2m) to $43.5m. The London Aim-listed company’s revenue also grew, from $65.7m to $103m. Gemfields, which defines itself as a luxury miner, saw growth in production [...]