BHP Billiton’s iron ore output beats forecasts July 17, 2013 FTSE 100-listed BHP Billiton yesterday said that production at two of its mines had beaten guidance this year and expansion of its iron ore division is running ahead of schedule. Yet despite petroleum output increasing by six per cent to 235.8m barrels of oil, it fell short of BHP’s 240m guidance. Total iron ore production [...]
BP asks US judge for temporary halt to Gulf of Mexico payments July 17, 2013 FTSE 100-listed oil giant BP has asked a US judge to temporarily halt payments to people and businesses who say they lost money after the Gulf of Mexico oil disaster. BP said in a New Orleans court filing that a “brief pause” is necessary until an investigation into alleged misconduct over the settlement claims is [...]
Hochschild tops FTSE 250 as pay and board cuts please investors July 17, 2013 LATIN American miner Hochschild topped the FTSE 250 index yesterday, after reducing the board and slashing directors’ salaries. Shares in the company, which produces silver and gold from mines in Peru and Argentina, jumped as much as 10 per cent in morning trade as investors reacted well to the cost cuts in the face of [...]
Fresnillo’s gold loses its lustre as silver shines July 17, 2013 FTSE 100-listed miner Fresnillo yesterday reported a 6.3 per cent increase in quarterly silver production but lowered its full-year guidance for gold output. The year-on-year increase in silver output was a result of increased volumes at two of the firm’s mines and silver will meet guidance this year, the company said. However, gold output fell [...]
Strauss-Kahn joins Russian bank July 17, 2013 Dominique Strauss-Kahn, the former head of the International Monetary Fund, has joined the supervisory board of a bank owned by Russian state oil major Rosneft. He will take a seat on the supervisory board of Russian Regional Development Bank, according to a regulatory filing by the bank.
Sunshine boosts restaurant sales July 17, 2013 Restaurants and pubs saw an increase in sales in June this year thanks to the warm weather, which encouraged people to spend their money. Total sales, including the impact of new openings, rose by 4.8 per cent, while like-for-like sales were up by 1.9 per cent, according to the Coffer Peach business tracker. The London [...]
Davenport Lyons to move offices July 17, 2013 Davenport Lyons has decided to move to new offices in the West End despite an exodus of law firms moving out of the district in search of cheaper rents and bigger office space. The company has taken 31,500 square feet of space over three floors at 6 Agar Street in Covent Garden and will move [...]
Pickles goes quiet on launch of Cabinet rag July 17, 2013 NOTHING like a bit of hypocrisy from Whitehall, just as Parliament wraps up for the summer. Scribes over in the Cabinet Office launched a new magazine on Tuesday – the glossy Civil Service Quarterly. But the timing of the launch, which employs a team of six on editorial and design, could not be worse. Secretary [...]
Railway carriages join the City relics facing the branding iron July 17, 2013 THE CITY’S historic Guildhall played host to one of the capital’s more eccentric traditions yesterday. Every year since 1655 a livery company – the Worshipful Company of Carmen – have gathered in the old Yard wielding red hot branding irons. Not for any sinister reasons, but to put their stamp on various horse-drawn carriages and [...]
Smiths shares nosedive after profit warning July 17, 2013 ENGINEERING firm Smiths Group yesterday warned that full-year operating profits would be up to £15m below expectations due to issues in its Smiths Detection unit. The FTSE 100-listed company said that it had identified that three Smiths Detection contracts entered into prior to 2010 will be “materially adverse to previous expectations”. In an interim management [...]
