Shell ups stake in Australia’s Browse LNG, Chevron exits August 21, 2012 Royal Dutch Shell will increase its stake in Australia’s Browse LNG project by picking up Chevron’s equity in the $30bn (£19bn) venture in an asset swap deal, opening up the possibility of new development options such as floating LNG. Browse LNG has been plagued by controversy over its proposed location at James Price Point on [...]
Virgin Atlantic to launch domestic flights August 21, 2012 Virgin Atlantic today announced plans to operate three daily return flights between London and Manchester from next year, its first foray into the short-haul domestic market. The airline, founded by billionaire entrepreneur Richard Branson, plans to fly from London’s Heathrow airport to Manchester airport in the north west of England from March 2013 – providing [...]
Apple’s market value exceeds Microsoft during 1999 bubble August 21, 2012 Apple market value has climbed past $623bn (£396bn), surpassing the record set by Microsoft during the heyday of technology stocks in 1999. Apple shares rose 2.6 per cent, bringing its gains this month to almost nine per cent as Wall Street bets on the 12 September rollout of the latest version of the iPhone, the [...]
Glencore offers no Xstrata clues as profit falls August 21, 2012 Commodities trader Glencore stuck to its guns on a $30bn (£19bn) bid for miner Xstrata today, as it reported earnings for the first half of 2012 dragged down 26 per cent by weaker commodity prices. Glencore said its first half profit net of significant items fell to $1.81bn, down from $2.44bn a year ago and [...]
Asil Nadir found guilty of three counts of theft August 20, 2012 Former tycoon Asil Nadir has been found guilty of three counts of theft from Polly Peck International (PPI) at the Old Bailey today. He was charged with 13 counts of theft worth £34m from the conglomerate between 1987 and 1990. He was cleared of one count. PPI, a FTSE 100 company dealing in a range [...]
FTSE 100 flat despite Lonmin losses August 20, 2012 Britain’s leading share index opened flat this morning, despite widening losses in mining shares, tracking a decline in the price of copper. Beleaguered platinum producer Lonmin continued another day of losses, with the shares down more than 3.5 per cent. The mining company today issued an ultimatum to the striking workers. Defence group Chemring was [...]
FTSE 100 flat despite Lonmin losses August 20, 2012 Britain’s leading share index opened flat this morning, despite widening losses in mining shares, tracking a decline in the price of copper. Beleaguered platinum producer Lonmin continued another day of losses, with the shares down more than 3.5 per cent. The mining company today issued an ultimatum to the striking workers. Defence group Chemring was [...]
BAA to sell Stansted Airport after dropping legal appeal August 20, 2012 Airport operator BAA today said it would proceed with the sale of London’s Stansted airport after deciding not to challenge a Competition Commission (CC) ruling forcing it to sell the airport. BAA’s challenge to the CC ruling was rejected by the Court of Appeal last month and it was expected to take the case to [...]
Assange berates US from Ecuador Embassy August 20, 2012 WikiLeaks founder Julian Assange berated the US last night from the balcony of the Ecuadorean Embassy where he has sought refuge from arrest, demanding President Barack Obama end what he called a witch-hunt against his whistle-blowing website. Speaking from within the London mission to avoid being detained by British police who want to extradite him [...]
Kingspan sees European insulation markets weakening August 20, 2012 Irish building supplies company Kingspan said a jump in profits in the first half of the year is unlikely to be sustained in the second half as the Eurozone crisis is dragging down activity in some markets. The biggest producer of building insulation in Britain, Ireland, Canada and Australasia attributed a 14 per cent jump [...]
