Nomura CEO quits as insider trading scandal widens July 26, 2012 Nomura Holdings named Koji Nagai as its new CEO on Thursday and said it was likely more insider trading cases would come to light in a scandal that forced Kenichi Watanabe to quit as head of Japan’s top investment bank. The management shake-up was confirmed in a news conference at the end of a dramatic [...]
Alcatel to axe 5,000 jobs as battles downturn July 26, 2012 Telecom equipment maker Alcatel-Lucent will axe 5,000 jobs and exit or restructure unprofitable markets in a drive to cut costs by €1.25bn (£967m) by the end of next year as it battles stiff competition and weak demand. The move comes after the Franco-American group warned last week it would miss its 2012 profit margin target [...]
Lending to euro zone private sector drops in June: ECB July 26, 2012 Loans to firms and households declined in June, fuelling expectations that the European Central Bank (ECB) may have do more to stimulate the ailing Eurozone economy when it meets next week to set the bloc’s interest rates. Loans to the private sector fell 0.2 per cent from the same month a year ago, in line [...]
Cameron pledges action after GDP shock July 26, 2012 Prime Minister David Cameron pledged on Thursday to do more for the economy after GDP data released this week showed the economy had contracted more than expected in the second quarter of 2012. “We’ve got to do more. We’re going to roll up our sleeves and do everything possible to get business going in Britain, [...]
Thailand’s PTT closes in on explorer Cove July 26, 2012 Thai oil firm PTT Exploration & Production moved a step closer to finalising its $1.9bn (£1.2bn) takeover of Cove Energy after securing acceptances for its offer from 72 per cent of shareholders in the Mozambique-focused gas firm. PTT, which in May set a minimum level for acceptances of 90 per cent, said it would extend [...]
Shares rebound on hopes for US stimulus July 26, 2012 Asian shares rose on Thursday on bargain hunting as hopes grew for more US stimulus to support growth and new European measures to contain the Eurozone’s debt woes, but sentiment remained frail. Worries about the Euro crisis eased somewhat on comments from European Central Bank (ECB) Governing Council member Ewald Nowotny who said there are [...]
Rolls-Royce profit up on fuel-efficient jet demand July 26, 2012 Rolls-Royce posted a better-than-expected 7 per cent rise in first-half profit, driven by airlines’ need to renew ageing fleets with more fuel-efficient planes. Rolls, the world’s second-largest maker of aircraft engines behind General Electric, on Thursday reported an underlying pretax profit of £637m for the six months to the end of June on revenues 5 [...]
Shell results kick off weak quarter for oil July 26, 2012 Weaker prices for oil worldwide and for gas in North America took their toll on Royal Dutch Shell profits in the second quarter. Netherlands based Shell, the second largest of the western world oil majors behind Exxon Mobil which reports results later on Thursday, said earnings in the period fell to around $6bn (£3.8bn) from [...]
Russia’s Petropavlovsk aims to boost H2 gold output July 25, 2012 Russia-focused gold miner Petropavlovsk aims to boost its gold production during the second half of 2012 after its first half gold output rose 27 per cent, the company said on Wednesday. Its first half gold production was 279,100 troy ounces, up from 219,100 ounces, year-on-year, and in line with the group’s 2012 production target of [...]
Johnson Matthey drops as metal prices hit Q1 July 25, 2012 Shares in Johnson Matthey shed 4 per cent, the second biggest FTSE 100 faller, after the British speciality chemicals company posted a virtually flat first quarter on the back of weak precious metals prices, prompting worries it could miss market forecasts for the first half. Johnson Matthey, the world’s largest supplier of catalytic converters, posted [...]
