Stanhope and Mitsui lease 70 mark lane November 1, 2012 FIFTY per cent of the £140m 70 Mark Lane development is already committed to tenants, Mitsui Fudosan and Stanhope announced yesterday, two years before the development is due to be completed. Miller will occupy the first six floors of the building, taking up about 85,000 square feet, leaving 84,000 square feet open for other firms.
Cookson splits divisions into two listed firms November 1, 2012 INDUSTRIAL material supplier Cookson Group yesterday said it will separate its performance materials division from its engineered ceramics and precious metals processing division following a strategic review of the business. The performance materials division – which supplies materials and chemicals to construction markets – will form a new London-listed speciality chemicals company called Alent. The [...]
Glencore wary despite a strong third quarter November 1, 2012 COMMODITIES trader Glencore yesterday warned of a cautious outlook, as it reported a strong performance in its marketing division. Glencore, currently in the final throes of a $56bn (£35bn) mega merger with mining giant Xstrata, said in a trading statement that overall performance in the third quarter was “good”, despite weaker commodity prices and tough [...]
Exxon Mobil’s profit falls after production dips November 1, 2012 EXXON Mobil, the world’s largest publicly traded oil company, reported a quarterly profit yesterday that topped expectations, as higher margins from its refining arm countered a 7.5 per cent decline in oil and gas output. Exxon and other global oil producers are buying oil and gas assets in North America as they struggle to raise [...]
Genel ups oil output target November 1, 2012 KURDISTAN-focused Genel Energy yesterday upped its production guidance for 2012 to 45,000 barrels of oil per day, following the resumption of export sales in August. The company, run by former BP chief executive Tony Hayward, expects production from its oilfields Taq Taq and Tawke to reach 90,000 and 75,000 barrels of oil a day. Despite [...]
Chemring shares hit six-year low as it slashes its forecast November 1, 2012 SHARES in defence equipment firm Chemring fell to a six-year low yesterday as it cut its full-year profit guidance. The firm, which is currently in talks with US private equity group Carlyle over a takeover bid, reduced its expectations for earnings per share by 13 pence, for the year to October. Delays to a contract [...]
Amplats extends work offer November 1, 2012 Anglo American Platinum yesterday extended the return to work offer for the 12,000 miners it dismissed last month, to try and restart production at its industrial action-hit South African operations. Amplats is losing an average of 3,694 ounces of platinum each day due to the strike, and to date 141,640 ounces of the precious metal [...]
Coal of Africa production falls November 1, 2012 Production at Coal of Africa fell in the three months to September, down to 1.27bn tonnes of coal from 1.32bn tonnes over the previous quarter, it reported yesterday. Chief executive John Wallington said that the South African coal mining firm would remain focused on implementing cost control measures to reduce operating losses.
Avocet Mining losses narrow November 1, 2012 Gold miner Avocet Mining yesterday said its losses narrowed in the three months to September, down from £33.5m to £323,000 year-on-year. Gold production fell slightly year on year, to 33,067 ounces from 33,256 over the same period in 2011. Full year gold production guidance has been maintained at between 135,000 and 140,000 ounces.
Who’s switching jobs November 1, 2012 Baird Jim Conniff has been appointed managing director in the investment bank’s industrial team. He joins from Goldman Sachs, where he was a senior member of its industrial banking team. Conniff was previously a director at Baird. Baker Tilly David Whitlock has been appointed business development director at the accountancy and advisory firm. He was [...]