BAE senior independent director to stand down November 16, 2012 BAE Systems this morning said senior independent director sir Peter Mason will retire in May, less than a month after shareholder Invesco called for him to step down. Mason’s term of appointment was due to end of 21 January, and he will retire at BAE’s AGM next May. Nick Rose has been named as his [...]
FTSE 100 down on global growth concerns November 16, 2012 The blue chip index edged down in early deals as investors fretted over US fiscal cliff concerns and Eurozone growth. Buyout group Melrose was the biggest faller on the leading share index, shedding 13.69 per cent as it said it was facing slowing revenue trends. Utility firm Pennon firm 2.55 per cent, while steelmaker Evraz [...]
Anglo American and Lafarge sell building assets to Mittal November 16, 2012 Miner Anglo American and cement maker Lafarge said this morning they would sell their UK construction operations to Mittal Investments for £285m. The divestments include a number of cement operations in the UK, plus the sale of Anglo American unit Tarmac’s 50 per cent ownership interest in Midland Quarry Products Limited. The sale includes up [...]
Profit edges up at LSE November 16, 2012 Operating profit was flat at £217.2m for the London Stock Exchange Group over the six months to September, up modestly on the previous year. The group reported a seven per cent jump in revenue to £349.8m, as it hailed a “strong” financial performance in challenging markets over the period. The LSE said that a 19 [...]
Eurozone sinks back into recession November 15, 2012 The Eurozone debt crisis dragged the currency bloc into recession in the third quarter of the year, marking its second recession since 2009. Economic output in the bloc fell 0.1 per cent over the three months to September, following a 0.2 per cent drop in the second quarter. Those two quarters of contraction put the [...]
Eurozone worries weigh on FTSE 100 November 15, 2012 The leading share index was trading down this morning, as investors were spooked by growth worries in the Eurozone. Wolfson Microelectronics sank six per cent in early trading, followed closely by stove maker Aga, which fell 5.42 per cent. Engineering firm Wood Group declined 4.82 per cent, while investment manager Man Group dropped 4.8 per [...]
BP in talks to settle Gulf spill claims November 15, 2012 BP this morning confirmed that it was in “advanced discussions” with the US Department of Justice and the Securities & Exchange Commission to settle claims arising from the Deepwater Horizon incident in 2010. The oil major said today it was discussing “proposed resolutions of all US federal government criminal and SEC claims against BP in [...]
French GDP up 0.2 per cent in third quarter November 15, 2012 The French economy expanded by 0.2 per cent in the third quarter, according to official statistics. A pickup in household consumption and manufacturing led the rise, which comes after the economy shrank by 0.1 per cent over the second quarter. Household consumption grew by 0.3 per cent in the third quarter, after contracting 0.2 per [...]
Qatar backs Glenstrata merger November 15, 2012 Qatar Holding confirmed this morning it would back Xstrata’s mega-merger with Glencore at the shareholder vote next Tuesday. Xstrata’s second-largest shareholder after Glencore said it would vote in favour of two key resolutions, which will pave the way for the £56bn deal to go ahead. The vote, which comes 10 months after commodities giant Glencore [...]
Weak investor sentiment holds back FTSE 100 November 14, 2012 Worries over the US economy and Greece’s unresolved debt crisis dragged down the leading share index in early trading this morning. On the FTSE All-Share, broker Icap led the fallers, tumbling 6.32 per cent as it reported a 26 per cent drop in profits. Electricals retailer Darty fell 5.46 per cent in early deals, as [...]
