Deal by Anglo American sparks feud November 10, 2011 GLOBAL miner Anglo American yesterday triggered a feud after announcing that it had sold a 24.5 per cent stake in its southern Chilean properties to Japan’s Mitsubishi Corp for $5.39bn (£3.38bn), defying plans by Chile’s state copper giant Codelco to exercise an option to buy a major stake. Codelco, the world’s largest copper producer, last [...]
BHP and Rio in royalties hit November 10, 2011 RIO Tinto and BHP Billiton, the world’s No.2 and 3 iron ore miners, sealed an agreement to pay Western Australia state a higher royalty on iron ore fines to match the royalty on lump ore, as agreed in May. In return, the state has agreed to treat the two global miners’ iron ore expansion plans [...]
ENRC close to full capacity November 10, 2011 KAZAKH miner ENRC said it would continue to produce at or close to full capacity for the rest of the year and confirmed it would keep cost growth within its expectations, with the unit cost of sales expected to rise 20 per cent for the full year. Ferroalloys account for roughly half the group’s earnings, [...]
Greece drags on Deutsche Telekom sales November 10, 2011 Deutsche Telekom expects to close its US deal on time despite facing regulatory scrutiny, as its profits reached the higher end of estimates. Net profits for the last quarter rose 15 per cent to €1.07bn (£910m), while revenues dropped 4.1 per cent to €10.99bn. Its operations were hit by the Eurozone crisis and government austerity [...]
SDL raises the price it will pay for web content firm November 10, 2011 Translation software firm SDL has raised the price it is willing to pay for Alterian, paving the way for the smaller software company to enter talks. Alterian said it has received an indicative all-cash offer from SDL of 110p a share, following its rejection last month of SDL’s initial 80p a share approach. Its shares [...]
MEET THE ADVISERS November 10, 2011 CANACCORD GENUITY ADVISING Alterian is Canaccord Genuity. Heading up the team are Rory O’Sullivan and Simon Bridges. O’Sullivan is a managing director, leading the European M&A business for Canaccord. He has worked at the bank for almost five years. He has previously worked as managing director at Sardis Capital, principal at Robertson Stephens and account [...]
Siemens upbeat despite worries in Germany November 10, 2011 Siemens, a bellwether for the Eurozone’s largest economy, announced a smaller than expected dividend and forecast flat profit growth in 2012 after ending its year in a turbulent economic environment. The Munich-based maker of products ranging from fast trains and gas turbines to light bulbs and hearing aids said operating profit at its three main [...]
Airbus owner EADS delays new aircraft by six months November 10, 2011 AIRBUS parent EADS pushed back its A350 carbon-fibre jetliner by six months with a €200m (£170m) charge as it seeks to avoid errors like those that nearly derailed Europe’s A380 superjumbo. The delay trimmed third-quarter profits that nonetheless beat expectations as Airbus stabilised costs on the troublesome superjumbo project. And EADS shares got a boost [...]
London 2012 IMAGE OF THE WEEK November 10, 2011 LONDON 2012 | MAKING A SPLASH British Olympic diver Tom Daley at the Aquatics Centre during the One Year to Go festivities. This image is from The Games – Britain’s Olympic and Paralympic Journey to London 2012 by Brendan Gallagher, published yesterday by Wiley, the official publisher of the London 2012 Games, priced at £29.99. [...]
Cookson sees better earnings November 10, 2011 British industrial materials group Cookson said it expects to report better full-year results than the year before, as strength in its electronics business offsets the impact of lower global steel production. Cookson, whose products are used in the glass and solar industries as well as by steelmakers and foundries, said its second-half performance was slightly [...]
