ArcelorMittal sells $1.1bn stake in its Canadian mining unit January 2, 2013 Steelmaker ArcelorMittal said today it would sell a 15 per cent stake in a Canadian mine operator to an Asian consortium led by POSCO and China Steel in a deal worth $1.1bn (£674m). The consortium, alongside ArcelorMittal Mines Canada, will own the steelmaker’s Labrador Trough iron ore mining and infrastructure assets. “This joint venture incorporating [...]
Irish manufacturing slows in December January 2, 2013 Ireland’s manufacturing sector expanded at a slower pace in December, a survey showed this morning. The NCB Manufacturing Purchasing Managers’ index showed that the rate of expansion fell to 51.4 in December, from 52.4 the month previously, hurt by weak domestic demand and higher energy costs. However, it marks a 10th consecutive month of expansion, [...]
Obama’s race against time to save tax deal January 1, 2013 A LATE political truce over the US budget was thrown into doubt last night as Republican leaders threatened to quash President Obama’s plan to avert the so-called fiscal cliff. After warring politicians in the Democrat-controlled Senate passed a bill to avert a round of automatic tax rises and spending cuts, senior figures in the Republican-dominated [...]
London welcomes 2013 in style January 1, 2013 AFTER a spectacular 2012 full of celebrations – from the Diamond Jubilee to the Olympics and Paralympics, the capital yesterday kicked off the New Year in style with the 27th annual New Year’s Day Parade. Starting at Piccadilly and making its way down Whitehall to Westminster, the parade brought together more than 10,000 performers, including [...]
The three who thought they had secured a deal January 1, 2013 FRENZIED eleventh-hour talks are believed to have secured the passage of the fiscal cliff deal through the Senate at 2.07am yesterday morning, with three figures at the forefront. The deal was worked out through long New Year’s Eve negotiations between Vice President Joe Biden and Mitch McConnell, who leads the minority Republican faction in the [...]
Fears over property tax hikes in US force a wave of high-value sales in run up to 2013 January 1, 2013 HIGH-VALUE property owners rushed to sell US dwellings at reduced prices in the days leading up to 1 January in a bid to avoid the tax increases introduced by the so-called fiscal cliff. The top rate of capital gains tax, which is included on real estate sales, was set to go up 8.8 percentage points [...]
2013: Time for new challenge January 1, 2013 WELCOME back. January brings with it a host of New Year’s resolutions and hopes for the months ahead. The year ahead promises much but the capital will need to dig deep to surpass last year’s achievement in putting on the wonderful Olympic and Paralympic games. Whatever lies ahead we will report it for you, as [...]
What the other papers say this morning January 1, 2013 FINANCIAL TIMES Pessimism mars growth expectations Britons should brace themselves for another year of weak growth as the prospects of a recovery remain gloomy, according to the Financial Times’ New Year survey of 94 leading economists. A larger number of those surveyed thought George Osborne should rethink his austerity drive. Sun European set to buy [...]
Ivory Coast stampede kills 60 January 1, 2013 At least 60 people, most of them children, were crushed to death in a new year stampede in Abidjan, the biggest city in the Ivory Coast, yesterday. The incident happened in the early hours of yesterday morning after a crowd was making its way back from a fireworks display, the west African country’s government said. [...]
Hillary Clinton suffers blood clot January 1, 2013 US Secretary of State Hillary Clinton has been admitted to a New York hospital with a blood clot linked to a concussion she suffered last month. Clinton, 65, has been out of the public spotlight since mid-December, when she suffered a concussion after fainting due to a stomach virus. A follow-up exam revealed a blood [...]
