Kalahari bid suffers setback May 3, 2011 AIM-listed uranium miner Kalahari Minerals has given Chinese suitor CGNPC-URC more time to prepare its takeover offer after the original deadline passed yesterday. CGNPC-URC wants to lower its indicative bid from 290p to 270p per share after the Japanese nuclear crisis threw the uranium industry into doubt. But the Takeover Panel says the bid cannot [...]
BHP Brazil plan gets green light May 3, 2011 BHP Billiton and its partner Vale has given its blessing to a $3.5bn (£2.1bn) expansion project for its Samarco mining project in Brazil. The firms plan to expand iron ore pellet production capacity by 8.3m tonnes to 30.5m tonnes a year, with first production expected in 2014.
Lamprell wins upgrade work May 3, 2011 Oil and gas engineering group Lamprell has signed new contracts worth $57m (£34.5m) for refurbishment projects in the United Arab Emirates, the company announced yesterday. Lamprell will upgrade oil rigs owned and operated by Millenium Offshore Services, giving the firm a boost after a sluggish second half of 2010.
Churchill brings in new investors May 3, 2011 Churchill Mining was one of the top performers on AIM yesterday after announcing a £7.7m share placing with Indonesian investors. Rachmat Gobel and Fara Luwai will own 16.5 per cent of the company between them, and will be entitled to appoint two board members. Churchill shares closed up 32.5 per cent at 50p.
Rio moves to delist Riversdale May 3, 2011 Rio Tinto has won control of the board at Riversdale Mining, paving the way for plans to delist the firm. Rio owns more than 73 per cent of Riversdale shares, and has given remaining shareholders until Friday at 7pm Sydney time to accept its offer, after extending the bid by another week.
Pressure on revenues for Orange owner May 3, 2011 ORANGE owner France Telecom yesterday said intense competition in its home market had deflated its first-quarter revenues. It reported sales of €11.3bn (£10.1bn), roughly in line with expectations, and overall earnings of €3.7bn. France Telecom lost out on new broadband additions as firms scrabble to attract customers in a fiercely competitive market, ultimately claiming just [...]
Ofcom may set price BT charges for infrastructure May 3, 2011 OFCOM chief executive Ed Richards says he may be forced to set the price BT can charge rivals to access parts of its infrastructure. The move could have far-reaching implications for the rollout of broadband to rural areas. Richards said he would prefer a “commercial” solution between BT and rivals such as Virgin Media for [...]
Google’s Korea office raided May 3, 2011 Google’s Seoul office was raided yesterday on suspicion its mobile advertising unit AdMob had illegally collected location data without consent, South Korean police said. It is the latest setback to the search firm’s Korean operations. The probe into suspected collection of data on where a user is located without consent highlights growing concerns about possible [...]
RenRen aims for bumper IPO May 3, 2011 China’s biggest social network RenRen is seeking a valuation of of more than two times that of Facebook in its US IPO. It hopes to raise up to $743.4m (£449.8m) – an eye-watering 67-times its 2010 revenues. Last week, Renren raised the expected price range of its IPO by 30 percent. Demand for the stock [...]
Car sales drive up Infineon figures May 3, 2011 German chipmaker Infineon yesterday celebrated the sale of its mobile processor business to Intel after bumper sales in its core car-chip market buoyed its figures. Infineon, which produces chips for two thirds of the world’s cars, received a welcome boost as the automotive industry bounced back strongly. In the first three months of 2011, Infineon’s [...]
