London-listed Indian companies beat FTSE 100 in the first quarter April 4, 2012 INDIAN firms listed on London’s Aim index outperformed the FTSE 100 and Bombay’s Sensex in the first quarter, according to new research. They rose 26 per cent according to corporate research firm Hardman, compared to a gain of 3.6 per cent in the FTSE 100 and a rise of 12.6 per cent in the Sensex. [...]
Lester to leave Neptune April 4, 2012 The fund management group Neptune said yesterday that one of its partners, John Lester, had left the firm with immediate effect. Lester is setting up a new investment boutique with two members of his team. Richard Green, deputy managing director at Neptune Investment Management said: “With Neptune’s tenth anniversary imminent and nearly £7bn under management, [...]
Geithner wary about US housing April 4, 2012 The United States is far behind on reforming the country’s housing finance system, where the government’s mortgage buyers Fannie Mae and Freddie Mac provide funding for the bulk of US home loans, Treasury secretary Timothy Geithner said yesterday. “The biggest source of unfinished business in the financial reform effort is in the housing finance area,” [...]
Talos Energy attracts investors April 4, 2012 Private equity firms Apollo Global Management and Riverstone Holdings said yesterday they will back a new company that will invest in oil and gas opportunities in the US Gulf Coast and Gulf of Mexico regions. The private equity firms said in a statement that they will invest up to $600m (£378m) in Talos Energy, backing [...]
BHP faces fresh strike action at Oz coal mines April 4, 2012 AUSTRALIAN coal mines owned by BHP Billiton and Mitsubishi face a second seven-day strike after a third of the mines’ workforce rejected a BHP labour deal, union officials said yesterday. The mines, operated under the BHP Billiton-Mitsubishi Alliance joint venture, have a combined output capacity of more than 58m tonnes a year, representing about a [...]
Daimler sales rising as luxury car market drives forward April 4, 2012 GERMAN car maker Daimler is targeting earnings before interest and tax from ongoing business at last year’s level of £7.5bn as vehicle sales and revenue keep rising. Sales at Daimler’s Mercedes-Benz luxury division rose 11 per cent in March to 131,334 vehicles, extending first-quarter deliveries by 12 per cent to a record 313,902. “Daimler is [...]
Cove advances in Mozambique April 4, 2012 Oil explorer Cove Energy yesterday announced a successful conclusion to drilling offshore Mozambique with further success at Barquentine-4. The well is located approximately 30 km north of the Lagosta discovery well. This was the ninth successful well in Area 1 Rovuma offshore project. Chief executive John Craven said: “The appraisal drilling programme has concluded with [...]
Falkland Holdings in profit jump April 4, 2012 Falkland Islands Holdings, the Aim-listed international group that owns essential services businesses on the islands, yesterday said pre-tax profits before amortisation and non trading items were £3m for the year to 31 March 2012. Its profit was £2.3m in the previous year. The company’s board said that the total dividend payment will be not less [...]
Lonrho revenues on the climb April 4, 2012 Lonrho, which specialises in African investments, saw growth across all of its divisions in the final three months of 2011. Revenue in the final quarter of 2012 jumped 67 per cent to £46.1m from £27.5m a year earlier. Meanwhile like-for-like sales grew 30.2 per cent. The Infrastructure division saw sales grow 30.2 per cent, and [...]
CITY MOVES WHO’S SWITCHING JOBS April 4, 2012 Universal Music The music company has promoted Laurence Hulin to vice president, emerging markets, effective immediately. Hulin will report to Olivier Robert-Murphy, global head of new business in the Universal Music Group. Hulin joined Universal Music in 2005, and for the past two years has served as vice president, business development. He has more than [...]