Petropavlovsk lowers targets November 3, 2010 RUSSIAN gold miner Petropavlovsk yesterday further lowered its gold production guidance for 2010 while claiming many difficulties it encountered this year have now been overcome. Petropavlovsk, formerly known as Peter Hambro Mining, now expects to produce 510,000 to 530,000 ounces of gold in 2010, down from the 636,500 to 670,000 guidance stated in August and [...]
The dining scene is hotting up this winter November 3, 2010 AGAINST the odds perhaps, but 2010 has been a cracking year for restaurant openings in London. From the old-fashioned cool of Soho’s Dean Street Townhouse to Pierre Koffmann’s return to glory, the cosy joy that is Polpo to Daniel Boulud’s Knightsbridge bistro, there’s been plenty to love. And if anything, the openings are accelerating. The [...]
Microsoft sees 5m sales of new Kinect controller November 3, 2010 MICROSOFT is expecting to sell 5m of its new controller-free Kinect gaming systems this holiday shopping season, potentially adding $750m to the software company’s revenue this quarter. The $150 device, which plugs into Microsoft’s Xbox gaming console and allows users to play games simply by using gestures and voice commands, goes on sale at midnight [...]
BMW shares fall in spite of massive profit November 3, 2010 CARMAKER BMW reported an enormous rise in profit yesterday, due to to rocketing sales in emerging markets, though investors were disappointed with the group’s outlook for the rest of the year. The German company reported third-quarter pre-tax profit of €871m (£760.6m), up from €76m a year ago. This represents an 11-fold increase. Sales in China [...]
BEST OF THE BROKERS November 3, 2010 888 HOLDINGS Execution Noble rates the online gambling group a “hold” with a fair value price of 42p. The broker is encouraged by the firm’s quarterly update, with the slowdown in revenue decline a particular highlight. However, 888’s lack of scale or unique features in any of its areas of operation puts the firm at [...]
East London is stormed by new bars November 3, 2010 APLETHORA of new bars are arriving from the East (or at least East of central). First up we have the new offering from Will Ricker’s group, Glo Glo (pictured below). This super cool Shoreditch bar is on Great Eastern Street but is perfect for cocktail lovers. One of a new breed of female mixologists is [...]
Exchange crash may be sabotage November 2, 2010 A WORKER at the London Stock Exchange is being investigated over allegations he deliberately sabotaged its Turquoise trading platform. The high frequency trading platform crashed during early morning trading yesterday and was offline for two hours. The exchange released a statement saying the incident was caused by human error that “may have occurred in suspicious [...]
MP hits out at attacks on the City November 2, 2010 THE Square Mile’s local MP will today launch a rare but impassioned defence of the City and financial services, accusing the coalition of “playing to the gallery” to appeal to “general banker bashing sentiment”. Mark Field, the Conservative MP for the Cities of London and Westminster, will use a speech at Westminster Hall to hit [...]
TfL brings in extra services November 2, 2010 LONDONERS trying to beat today’s underground strike will be able to make use of over 100 extra buses, 10,000 more places on riverboat services and a Tube service operating at 40 per cent capacity, Transport for London (TfL) has said. The strike is due to end at 9pm today after a 24-hour walk-out. However, TfL [...]
Time to take inflation seriously again November 2, 2010 WHO said inflation is no longer a danger? Wherever one looks, prices are rising, demolishing the flimsy case made by the deflationistas. The British Retail Consortium/Nielsen shop price index out this morning confirms that the cost of living is continuing to go up, hitting ordinary folk and fuelling general negativity about the state of the [...]
