Analysts mulling the prospect of Glencore-Xstrata deal failing August 2, 2012 THE MERGER between Glencore and Xstrata is increasingly likely to fall apart, according to analysts. Liberum Capital has lowered its view and given the deal a 56 per cent chance of succeeding, adding in a note that the markets have already broadly priced in fear of the merger failing. The deal was announced in February, [...]
General Motors profit helped by delayed spending in the US August 2, 2012 GENERAL Motors (GM) posted a stronger-than-expected quarterly profit yesterday as its loss in Europe was not as bad as feared, and its results were boosted by delayed spending in North America. Analysts said GM’s North American outperformance added 14 cents to the second-quarter results, helping the company top Wall Street’s expectations by 16 cents. However, [...]
Lufthansa slims capacity plans August 2, 2012 DEUTSCHE Lufthansa pulled back further from plans to lift capacity and expand its passenger fleet to safeguard profits threatened by soaring fuel prices. The German carrier said yesterday it would offer only 0.5 per cent more seats this year instead of one per cent, having already shrunk its growth plans several times in recent months. [...]
Pre-tax profits rise at Spirent August 2, 2012 Communications technology group Spirent said yesterday that pre-tax profits rose three per cent compared to the first half of 2011 from $55.2m (£35.3m) to $56.6m this year. The group saw growth in the US and Asia Pacific as European demand faltered and said that it expected the macroeconomic climate in the second-half to cause volatility.
RPS on track for full year August 2, 2012 Energy resources and environmental consultancy RPS said yesterday it is on track for the full year. Pre-tax profits rose from £19.1m in the first half of 2011 to £19.9m this year as RPS focused on markets less affected by economic instability. The group said it remains on track to meet its full year forecasts.
Deutsche Post tops estimates August 2, 2012 Deutsche Post yesterday reported quarterly underlying earnings that exceeded estimates as adjusted earnings before interest and tax reached €581m (£459m). Deutsche Post said it now expects to post 2012 earnings of €2.5-2.6bn. Its results contrast with more downbeat reports from its US rivals, UPS and FedEx.
Segro sells industrial estates August 2, 2012 Industrial property developer Segro said yesterday it had sold 10 UK regional estates for £111m. Chief investment officer Phil Redding said the sale was an important step and meant Segro has now sold a large part of its UK non-core assets.
Give the mod a home: Wiggo’s canine honour August 2, 2012 SPORTING immortality, lucrative endorsement deals, invites to swanky parties where the drinks are free – some things go with the territory of becoming an Olympic champion. But Britain’s first gold medallists of London 2012, cycling messiah Bradley Wiggins and rowing wunderkinds Helen Glover and Heather Stanning, have also been honoured in less conventional fashion. In [...]
LONDON 2012 IMAGE OF THE DAY August 2, 2012 Throughout the Olympics, City A.M. will be publishing its Olympic Image of the Day. If you have a shot you think our readers will like, please email pictures@cityam.com The curse of Cameron rumours were finally quashed yesterday after the Prime Minister’s presence at the cycling did nothing to deter Chris Hoy and team from racing [...]
CITY VIEWS | ARE YOU PLANNING TO GO TO THE OLYMPICS? August 2, 2012 DANNY MILLS LLOYD’S OF LONDON I’m not going but being a rower myself, I went ecstatic when I went to see Britain’s first gold medal victory in the rowing a couple of days ago, and having served in the Royal Navy I found the presence of the Armed Forces added to the patriotic fervour. MIKE [...]
