Xstrata warns on economic risks despite production boost May 5, 2010 MINER Xstrata yesterday warned about short-term economic risks as it posted solid first-quarter production, but was confident about growth in metals demand as carmakers and other industries bounce back. “The current macroeconomic environment remains volatile… nonetheless underlying signs of recovery continue to strengthen,” chairman Willy Strothotte told the group’s shareholders at the annual meeting. He [...]
ABB acquires US firm Ventyx May 5, 2010 SWISS engineering group ABB is to buy US software company Ventyx for more than $1bn (£662m), bolstering its position in the fast-growing area of renewable energy network management. The deal, cash-rich ABB’s first billion-dollar buy in more than 10 years, will also strengthen its presence in North America. ABB, which had a cash pile of [...]
Skype to roll out mobile service May 5, 2010 FREE internet calls service Skype has planned an ambitious expansion with a range of new subscription services. It will now allow both pay-as-you-go and subscription packages to encompass calls to mobile operators including O2, Orange, T-Mobile and Vodafone. It will also increase the number of countries these services are available in from 40 to 170. [...]
Ash grounds Scottish and Irish flights May 5, 2010 ICELAND’S volcano grounded flights out of Ireland and Scotland yesterday, as a fresh ash plume again disrupted the holiday plans of thousands of passengers. The Irish Aviation Authority (IAA), the National Air Traffic Services (NATS) and the Civil Aviation Authority (CAA) closed airspace in Ireland and Scotland, affecting major airports and international flights after the [...]
De Blonay pulls out of Europe May 5, 2010 GUY de Blonay, the star fund manager who officially rejoined Jupiter this week after leaving Henderson last year, is to push an Asia and US-focused investment strategy at the firm, reducing its exposure to the crisis-hit Eurozone. De Blonay is due to become co-manager of the flagship Jupiter Financial Opportunities Fund on 1 June, alongside [...]
Alpari fined for lack of a money laundering system May 5, 2010 ALPARI, an online foreign exchange service for speculative trading, has been slapped with a £140,000 fine by the Financial Services Authority (FSA) for failing to have appropriate money-laundering systems and controls put in place. The financial regulator also handed the group’s former money laundering reporting officer Sudipto Chattopadhyay a £14,000 fine and held him accountable [...]
Liberty feels good about occupancy rates after UK retail market stabilises May 5, 2010 LIBERTY International said yesterday that shopping centre occupancy rates will stay firm in 2010, thanks to the stabilisation of the UK retail market. Occupancy at Liberty’s shopping centre division, Capital Shopping Centres (CSC), has been maintained at 98 per cent for the period 1 January to 5 May. Patrick Burgess, chairman of Liberty International said: [...]
Time Warner profits from strong DVD sales May 5, 2010 TIME Warner posted a better-than-expected quarterly profit yesterday on a rebound in advertising sales at its cable networks and magazines, as well as strong DVD sales of “The Blind Side” and “Sherlock Holmes.” Net income rose 10 per cent to $725m (£480m) after a nine per cent a rise in advertising sales. Overall the firm’s [...]
CITY VIEWS: ARE YOU WORRIED THE ICELANDIC ASH CLOUD WILL AFFECT YOUR HOLIDAY PLANS? May 5, 2010 GEORGINA SMART | LONDON CAPITAL GROUP “Yes I am as I’ve just booked my holiday. However, it’s not the airlines fault if the ash cloud returns, they can’t stop nature. But it’s going to cost the airline industry a lot of money in the long term as people now see there are other ways to [...]
S&P launches new index May 5, 2010 Standard & Poor’s has launched its first index of non-US commodities to meet demand from clients who want an international product mix and trading opportunities unhampered by upcoming US market regulations. The S&P World Commodity Index will consist of 23 commodities such as UK Brent crude oil, Malaysian palm oil and Tokyo-traded kerosene, S&P said [...]
