Luxury cars drive GKN July 31, 2012 BRITISH car and plane parts maker GKN said first-half profit rose by a third, driven by strong growth at its automotive business on the back of robust luxury car sales. The group’s Driveline unit, which makes products such as driveshafts, chassis and axles, reported a 29 per cent rise in profit in the six months [...]
Vedanta lifted by power sales July 31, 2012 INDIA-FOCUSED miner Vedanta posted a 27 per cent rise in first-quarter core earnings yesterday, as strong growth in power sales offset the impact of lower metal prices and zinc volumes. The London-listed firm said earnings before interest, tax, depreciation and amortisation (Ebitda) rose 27 per cent year-on-year to $1.34bn (£853.6m) in the three months to [...]
Anglo ups De Beers stake July 31, 2012 BOTSWANA said yesterday it had declined an option to lift its stake in diamond giant De Beers, leaving miner Anglo American with the full $5.1bn (£3.25bn) price tag for a buy-out of the remaining shares owned by the Oppenheimer family. Anglo formally offered the Botswana government a pro-rata share of the Oppenheimer family’s 40 per [...]
EDF gets boost from renewables July 31, 2012 French utility Electricite de France (EDF) posted a 4.6 per cent rise in its first-half core earnings yesterday as increased hydroelectric output and other renewable energies offset longer-than-expected outputs. First-half core earnings reached €9.1bn (£7.1bn) on sales up 8.2 per cent at €36.2bn. EDF is expanding its portfolio by developing in coal, hydropower and renewables.
Profits drops at Drax Group July 31, 2012 Power company Drax Group reported a lower first-half profit yesterday and said that it is proceeding with plans to become a predominantly biomass-fuelled generator. Drax is expected to review its investment plans of around £650m to £700m in light of smaller-than-expected subsidies for biomass energy. Profit before tax fell to £141m for January-June from £169m [...]
Wolfson Micro reports loss July 31, 2012 Edinburgh chipmaker Wolfson Microelectronics, whose technology is used in the Samsung Galaxy S3 smartphone, expect to return to profit in the second half after it reported an underlying loss of $1.3m (£800,000) in the second quarter, better than the $2.9m loss in the same period last year. Revenue rose five per cent year on year [...]
Olympic sentiment flying high July 31, 2012 BREATHE a big sigh of relief, Great Britain, as the sentiment surrounding the 2012 Summer Olympics is once again blazing. On SportsIndex, the 2012 Games were beginning to build momentum when news broke over the G4S security scandal just two weeks before the event began. After this, all of the measures for the Olympic Games [...]
CITY VIEWS | HAVE YOU HAD ANY TRANSPORT TROUBLES DURING THE OLYMPICS? July 31, 2012 AHMED PATHAK AVIVA There were no problems for getting in to work today. It seems my colleagues have been prepared for the Olympics for a while now and are using their common sense to get around the hotspots along the Central Line by using other stations. JAMES MACKIE XCHANGING My commute to work was fine; [...]
Profits up at CBRE and Jones Lang July 31, 2012 PROPERTY firms CBRE and Jones Lang LaSalle reported solid rises in quarterly profits last night. CBRE beat Wall Street’s predictions with a 31 per cent jump in earnings to $88m, on revenues up 13 per cent to $1.6bn. Revenue from Europe, the Middle East and Africa fell 4.9 per cent to $248.2m, as gains were [...]
Rihanna denied trip into Orbit for reality show July 31, 2012 GLITTERATI have wasted no time in asking to hire out London’s most eye-catching new landmark, the £23m ArcelorMittal Orbit in the Olympic Park. And perhaps it should come as no surprise that chart-topping pop star Rihanna, known for her love of the capital, was right at the front of the queue. The Capitalist hears the [...]
