International funds eye up UK water firms August 14, 2012 SHARES in United Utilities soared by as much as 18 per cent yesterday on rumours that it might be the subject of a takeover, but analysts said a bid was unlikely at the suggested price. It is understood that several buyers are circling around the UK water company as a possible break-up target, including an [...]
Essar lifts output in first quarter of year August 14, 2012 INDIA-facing power and refinery firm Essar Energy ramped up production by 29 per cent in the first quarter, according to its quarterly results released yesterday. Plant generation was up by 29 per cent year on year, driven mainly by the recently-commissioned Salaya coal-fired power plant. The Salaya power plant in east India has good availability [...]
Mine deaths hit Lonmin August 14, 2012 SHARES in platinum producer Lonmin fell by more than four per cent yesterday on the news that nine people were killed in a dispute at its West Marikana mine in South Africa. Seven Lonmin workers and two policemen have been killed in the violence, which is being blamed on inter-union rivalry between the National Union [...]
Eurozone set to stunt CRH profit August 14, 2012 IRELAND-based building materials group CRH said yesterday it expects the Eurozone’s economic problems to deepen a slide in sales in the second half of 2012, preventing it from raising profits despite a recovery of US construction markets. The company, which moved its primary listing to London last year, said European sales had fallen five per [...]
Investor body slams Vedanta August 14, 2012 INVESTOR advisory group Pirc yesterday criticised miner Vedanta for its political donations in India. Pirc said shareholders should not support the FTSE 100-listed firm’s annual report, its accounts or the reappointment of executive chairman Anil Agarwal at the annual meeting on 28 August. The group said Vedanta made political donations of $2.01m in the last [...]
City executives party on Isle of Wight at Cowes August 14, 2012 ONCE a year, the City’s social scene decamps to the small town of Cowes on the Isle of Wight for one of the hottest tickets on the sporting calendar, and last night’s City by the Sea party, a central fixture in Aberdeen Asset Management’s Cowes week, was no different, bringing together a host of athletes [...]
Racing is as intense as ever with Team GB in the crowd August 14, 2012 WITH the array of dinner parties, live music and pop-up bars on display at Cowes week, it would be easy to forget that there is actually some sailing to be done. Around 1,000 boats and 8,500 competitors are in action over the week, watched by Team GB sailors fresh from winning medals at London 2012. [...]
Housing continued its recovery in June but it may face troubles August 14, 2012 HOUSE PRICES continued to recover steadily in June, driven by a robust London market, according to data released by the Office for National Statistics (ONS) yesterday, but data for July suggests the recovery might be short-lived. Prices rose an average of 2.3 per cent across the UK in the year to June, equal to the [...]
Goldman headquarters sold August 14, 2012 Goldman Sachs’ headquarters at Peterborough Court have been sold for £280m, two years after going into receivership. It is understood the 370,000 sq f building was sold to Fleet Street Investments II, a Cayman Islands-registered firm. Mayer Brown advised Berlin-Hannoversche Hypothekenbank on the restructuring that led to the sale.
Riots make UK cities less liveable August 14, 2012 Manchester and London are the 51st and 55th most liveable cities in the world, according to the latest version of the Economist’s liveability ranking, hit by last year’s riots. London wasn’t even boosted by the 2012 Olympics, since it already had top marks for culture and recreation. Melbourne retained its top spot, with Dhaka at [...]
