Rio to press on with expansion August 30, 2010 MINING group Rio Tinto signalled yesterday it was pushing ahead with its expansion plans in iron ore while it awaits competition authority clearance to form a partnership with rival BHP in Australia. The firm said it had approved $1.6bn (£1.03bn) to expand its Hopes Downs iron ore mine project in Western Australia, with first production [...]
Mining boost for Australia August 30, 2010 MASSIVE gains from mining and financial firms carried Australia’s corporate profit to a record jump last quarter. Company profits rose by 18.9 per cent compared with the previous quarter to a seasonally-adjusted A$68.5bn (£39.5bn), the Australian Bureau of Statistics said yesterday. Mining profit rose 62.7 per cent on the last quarter, reflecting rising commodity prices, [...]
Intel snaps up Infineon’s wireless arm August 30, 2010 Intel is to buy German chipmaker Infineon’s wireless unit for $1.4bn (£900m) as it seeks to claw its way into the booming smartphone market and reduce its reliance on PCs. The move, agreed yesterday, is the second major deal for Intel in two weeks. The company has already announced a $7.7bn deal for security software [...]
RBS sounds out investment banks for Direct Line disposal August 30, 2010 STATE-OWNED Royal Bank of Scotland has begun sounding out advisers for the multi-billion pound disposal of its Direct Line business. RBS, 83 per cent backed by the taxpayer, has until the end of 2012 to offload the car and home insurance operation under European Union rules on accepting government aid. Sources said the Scottish lender [...]
Vodafone plans retreat from great call of China August 30, 2010 VODAFONE is on the brink of a £4bn sale of its Chinese assets. It will sound out strategic partners before deciding whether to place its stake in China Mobile on the open market in Hong Kong. A lock-up period preventing Vodafone from selling its stake recently ended and the value of the holding has more [...]
Lawyers are still taking home big salaries despite a dip in revenues August 30, 2010 REVENUES at the top law firms have declined dramatically since the boom years, but senior lawyers at the UK’s top 100 firms are still taking home record salaries. According to an annual survey for Legal Business magazine, released tomorrow, combined revenue at the UK’s top law firms came in at £14.18bn in 2009-10. That was [...]
Gladedale hit by £78m loss after crisis fix August 30, 2010 BRITAIN’S largest private housebuilder crashed to a £78m loss last year as a debt-for-equity swap and a group restructuring piled costs onto its struggling balance sheet. The Gladedale Group, whose projects include the luxury Quartermile housing development in Edinburgh, fell heavily into the red after a huge overhaul in the autumn that wiped out its [...]
Omitting Casey was a big call but I can see Monty’s logic August 30, 2010 WITH the number of top-class players he had at his disposal, there was always going to be controversy and the odd surprise in Colin Montgomerie’s three wildcard picks for the Ryder Cup. Indeed, the fact that the new world No8, Paul Casey, couldn’t force his way into Monty’s thoughts for Celtic Manor just goes to [...]
WINNERS & LOSERS August 30, 2010 WINNER LEWIS HAMILTON The McLaren ace roared back to the top of the drivers’ championship by three clear points after leading home title rival Mark Webber in a pulsating Belgian Grand Prix at Spa. STUART BROAD Irrespective of the allegations, the fourth Test won’t be an occasion this young man will forget in a hurry. [...]
Murray says he’s too hot to handle in stifling New York August 30, 2010 ANDY MURRAY insists the soaring New York heat will not stand in the way of his bid to break his Grand Slam duck at the US?Open. The British No1 kicks off his Flushing Meadows campaign against Slovakian Lukas Lacko in a match which has now been put back until tomorrow. Temperatures in New York are [...]
