ENRC production levels increase August 7, 2013 Troubled miner ENRC yesterday said that its iron ore division had its best quarter in three years, reporting a 9.9 per cent year-on-year increase in production to 10,874kt. Ferroalloys production increased by 2.4 per cent and aluminium production rose by 1.6 per cent year-on-year. Copper output rose 81 per cent due to increased capacity at [...]
Fab boss needs to work on his dismissal chat August 7, 2013 AS JOB market watchers will recall, HSBC eloquently announced back in April that it would be “demising the roles” of 942 relationship managers as part of wider job cuts. And if you thought that was a hideous turn of phrase readers, look away now. It seems that the recent culling from Fab.com boss Jason Goldberg [...]
Pinsent imparts motivational wisdom to Square Mile rowers August 7, 2013 FORMER Olympic rower Sir Matthew Pinsent was in the City on Tuesday evening, flashing his gold medals and imparting some motivational wisdom to the captains of the 50 teams – from the likes of Pinsent Mason, Everard Insurance, BNY Mellon and Withers – that have entered The Big Row challenge in September. The challenge will [...]
Tui Travel stock drops in spite of upbeat forecast August 7, 2013 TUI Travel, the world’s largest tour operator, saw shares slump yesterday, despite the group reporting it was “very confident” of growing profits by at least 10 per cent this financial year. Investec analyst James Hollins attributed the fall to profit taking, adding that Tui did not provide “the upgrades that some were looking for”. The [...]
Analyst Views: What was your reaction to Tui Travel’s third quarter statement? August 7, 2013 KARL BURNS PANMURE GORDON “Yesterday’s fall in share price was purely down to profit taking. Tui had fairly strong trading in the third quarter but perhaps not as strong as some were hoping for. With the tough comparatives in the fourth quarter and the good weather it means that the full year could be in-line [...]
Asos appoints M&S veteran Ian Dyson August 7, 2013 ASOS has replaced one Marks & Spencer veteran with another after hiring the high street chain’s former finance director Ian Dyson as a senior independent director. Dyson will join Asos’ board in October, the online fashion group said yesterday, just weeks after revealing that M&S’s ex-clothing boss Kate Bostock had left the firm. The 51-year-old [...]
Quintain lands new tenants August 7, 2013 QUINTAIN Estates said yesterday that its London Designer Outlet at Wembley was now 70 per cent let after securing a raft of new tenants ahead of its grand opening at the end of October. In an interim statement the developer said it will also soon be submitting plans for the first major phase of new [...]
Jobs growth rate hits 6-year high August 7, 2013 THE NUMBER of jobs available in the UK has risen at its highest rate in six years according to new research from KPMG and the Recruitment and Employment Confederation (REC). The data also showed permanent staff appointments increasing at their fastest rate in three years. In a further boost to confidence, REC chief executive Kevin [...]
China fines infant formula firms £71m over price-fixing charges August 7, 2013 CHINESE authorities yesterday issued fines totalling 670m yuan (£71m) on six global producers of infant formula following a probe into price fixing, according to state media. The six companies are Biostime, Mead Johnson, Dumex, Abbott, Friesland and Fonterra. The National Development and Reform Commission (NDRC) says that the firms set minimum resale prices for distributors [...]
SAB Miller prices $1.1bn bond August 7, 2013 Brewing giant SAB Miller yesterday issued a $1.1bn (£0.7bn) bond to repay debt used to buy Australian beer company Foster’s in 2011. Its subsidiary SABMiller Holdings has priced $750m five-year fixed rate notes with a coupon of 2.20 per cent and $350m five-year floating rate notes with a coupon of 0.69 per cent over 3-month [...]
