UK Coal fined £1.2m for deaths December 14, 2011 UK Coal was yesterday ordered to pay £1.2m after four miners died following safety breaches at two of its collieries. The firm admitted offences under health and safety laws during an earlier hearing at Sheffield Crown Court. The deaths happened in near Coventry and in Nottinghamshire.
Centamin restructure agreed December 14, 2011 FTSE 250-listed Centamin Egypt said yesterday the majority of its shareholders had agreed to a corporate restructure of the gold mining firm and its subsidiaries. A new Jersey-incorporated parent company, Centamin, will be put in place after the scheme was approved by 99.97 per cent of the total votes cast on the resolution. The scheme [...]
Vatukoula gold output picks up December 14, 2011 Gold miner Vatukoula said yesterday it remains on course to produce 65,000 ounces of gold in the current year after production picked up sharply. The Fiji-based miner produced 52,157 ounces in the year to August, below expectations at the start of the year after it was forced to change the way it developed the mine. [...]
CITY MOVES | WHO’S SWITCHING JOBS December 14, 2011 Bargate Murray The City law firm has appointed Jonathan Lea as a senior associate in the corporate department. He will focus on developing relationships with the technology and digital media companies establishing themselves around the Silicon Roundabout area, as well as traditional corporate advisory work. Lea trained at Clyde & Co and has spent his [...]
BEST OF THE BROKERS December 14, 2011 BUNZL JP Morgan Cazenove rates the outsourcing and packaging group “neutral” with a target price of 835p. The broker has raised its estimates by two per cent to account for forex and acquisitions boosting revenues, and now expects earnings per share of 68.4p next year. JP Morgan sees Bunzl’s trading update this week as an [...]
Morrisons to create 7,000 jobs December 14, 2011 Britain’s fourth largest grocer Wm Morrison Supermarkets said it will create over 7,000 new jobs in 2012, as it opens 25 new stores and develops its manufacturing and logistics operations. The firm, which created about 6,000 jobs this year, said on Wednesday that many of the new jobs created next year will be skilled positions [...]
Horta-Osório to return to Lloyds as it prepares to sell branches to Co-Op December 14, 2011 António Horta-Osório will return to Lloyds Banking Group as chief executive on 9 January next year, the bank has said, after taking two months of medical leave. Lloyds said the board had “completed a rigorous process, including obtaining independent medical advice, to assess António’s ability to return and effectively lead the group.” “The independent medical [...]
Italy bond auction at record 6.47 per cent December 14, 2011 Italy paid a euro era record yield of 6.47 per cent to sell five-year paper at its first auction of longer-term debt after the EU moved towards greater fiscal integration at last week’s summit, but failed to convince markets it can solve the debt crisis. The average yield at THE sale compares with an auction [...]
Unemployment hits 17-year high in October December 14, 2011 The number of Britons out of work rose to its highest level in more than 17 years in the three months to October, although the pace of new benefit claims appears to be levelling off, official data showed on Wednesday. The Office for National Statistics said that the number of people out of work in [...]
Inditex sales growth slows in tough market December 14, 2011 Sales growth at Spain’s Inditex, the world’s largest clothing retailer and owner of the Zara label, moderated in the third quarter as the euro zone debt crisis crimped spending in the region. The company, founded by Spain’s richest man Amancio Ortega, posted a 9.5 per cent rise in sales growth on for the third quarter [...]