Kazakhmys slashes dividend payout as metal prices tumble August 23, 2012 FIRST-HALF profit at Kazakhmys slumped by nearly 65 per cent, as the copper miner slashed its dividend by almost the same amount. Profit for the six months to 30 June came in at $307m (£193m), down from $866m the year previously. It is the latest miner to be hit by the drop in commodity prices, [...]
South Africa mourns mining dead August 23, 2012 SOUTH Africans held a memorial service yesterday at a mine where police shot dead 34 strikers. Some 500 people crammed into a marquee pitched at the platinum mine, near what has been dubbed the “Hill of Horror” where police opened fire on striking miners.
Costain boosted by infrastructure August 23, 2012 Infrastructure profits have buoyed engineering and construction group Costain, as it posted a 16 per cent increase in profits for the first half of the year. Profits in its infrastructure division, which includes big-ticket contracts with Crossrail and the London Bridge redevelopment, were up 91 per cent year-on-year.
Qatar increases holding in Xstrata August 23, 2012 Qatar Holdings, the second-largest shareholder in Xstrata after Glencore, has bought nearly £24m of shares in the takeover target. It takes its holding in Xstrata to more than 12 per cent. Qatar has been raising its stake in the miner since July, and formerly owned just less than 11 per cent of the company. The [...]
Premier Oil posts record results August 23, 2012 FTSE 250 exploration and production firm Premier Oil posted pre-tax profits of $194.6m (£122.5m) for the first half yesterday, up from $32.5m the year before. The results were flattered by acquisitions and new ventures in Vietnam, Iraq, Norway and the UK. Average production rose 58 per cent year-on-year, hitting 58,400 barrels of oil a day [...]
Business loans plunge as firms delay investing August 23, 2012 LENDING to businesses was squeezed once more in July, according to a report released yesterday by the British Bankers’ Association (BBA). Lending to non-financial companies decreased by over £500m in July, the BBA said, driven by big declines in loans to the retail, catering and hospitality and real estate sectors. This decline caps off a [...]
Olympic feelgood factor fails to lift gloom on British high street August 23, 2012 GLOOM on the high street has continued in August, a leading survey revealed yesterday, with retailers becoming even more downbeat over business prospects for the next three months. Despite an uplift in morale from sunny weather and the London 2012 Olympic Games, retail sales were virtually flat compared to the same time last year. The [...]
China’s manufacturing hits the rocks as slump knocks exports August 23, 2012 CHINA’S factories have been hit again this month, with new export business declining sharply, according to a purchasing managers’ index business survey released by HSBC and Markit yesterday. The early “flash” figure dived to a nine-month low of 47.8 for the August survey, as China’s apparently inexorable boom comes up against problems. The number is [...]
Us factory growth inches upwards August 23, 2012 MANUFACTURING growth in the US edged up this month, providing a modest boost to President Barack Obama, although labour market data released yesterday was mixed. Markit’s purchasing managers’ index (PMI) moved to 51.9 from 51.4 last month, yet seasonally adjusted initial unemployment claims rose 4,000 to 372,000. And house prices edged up 0.7 per cent [...]
Sainsbury’s teams up with Rovi to join internet movie market August 23, 2012 J SAINSBURY has become the latest player to enter the on-demand film streaming market, teaming up with US technology firm Rovi to launch an online rental service to rival Sky’s Now TV, Netflix and Lovefilm. The supermarket, which also started a music download service earlier in the year, says it will offer films on a [...]
