Galliford wins £100m cheap housing deals September 10, 2012 THE UK house-building and construction group Galliford Try said yesterday it has secured £100m worth of contracts in affordable housing. The group said that it has finalised a £23m contract on the Gallions Quarter development in East London’s Royal Docks after it was picked as one of the preferred developers for the scheme last year. [...]
City Views | What was your best olympic moment of 2012? September 10, 2012 EUGENIE ELEY REDBURN PARTNERS Watching Mo Farah winning his gold and being greeted on the track by his daughter was amazing; and of course Usain Bolt, that’s something I will never forget. SIMON WELLS ASPEN INSURANCE Luckily, I was there for Super Saturday, watching Jessica, Greg and Mo bring home the golds. Being a part [...]
Australian mining giants axe jobs as higher prices cut profit September 10, 2012 GLOBAL miners BHP Billiton and Xstrata have cut mining jobs in Australia as they fight against lower coal prices, higher costs and a strong Australian dollar. Takeover target Xstrata announced yesterday it is to cut 600 jobs across some of its Australian mines, the corporate headquarters in Sydney as well as some office-based jobs in [...]
BP divests Gulf of Mexico fields worth £3.5bn September 10, 2012 UK OIL major BP yesterday said it plans to sell interests in the Gulf of Mexico to Plains Exploration & Production (PXP) for $5.5bn (£3.44bn). The sale is part of a previously-announced plan to divest the assets and position its Gulf portfolio for long-term growth. Texan-headquartered PXP has bought interests in a number of fields [...]
Fresh strikes in South Africa as miners stay away from work September 10, 2012 YET more strife hit South African mines yesterday, as Lonmin workers defied a deadline set out in the peace accord to return to work. Around 10,000 striking platinum miners marched across Lonmin’s shafts at Marikana yesterday and threatened to kill those who did not participate. It is understood that many workers were armed with sticks, [...]
Glencore lays out final offer for mega-merger with Xstrata September 10, 2012 GLENCORE laid out its revised final bid to Xstrata yesterday, raising the offer but warning it will not improve it further. On Friday, the commodities giant raised the merger ratio to 3.05 new Glencore shares for every Xstrata share, up from 2.8 as previously offered. Glencore also demanded that chief executive Ivan Glasenberg be chief [...]
Chariot shares plunge on dry well discovery September 10, 2012 SHARES in oil explorer Chariot Oil & Gas plummeted by half their value yesterday, as the company announced a well offshore Namibia was dry. Shares closed down 66.41 per cent yesterday at 33p. Chariot, which largely operates in Africa, said it had abandoned the Kabeljou well in the Nimrod prospect after tests showed there was [...]
Tullow finds gas in Kenya September 10, 2012 ■ FTSE 100-listed Tullow Oil yesterday announced a significant gas discovery offshore Kenya. The Mbawa-1 well, drilling 70km off the coast of Malindi in Kenya, went down just over 2,500 metres and found 52 metres of gas, although no oil had been found. Further drilling will now take place at a depth of 3,275 metres. [...]
Vedanta shuts controversial refinery September 10, 2012 ■ Heavyweight miner Vedanta is to shut its aluminium refinery in eastern India from 5 December due to a shortage of bauxite. The company needs 10,000 tonnes of bauxite each day to operate the Lanjigarh refinery to meet its targets of 1m tonnes each year. It is now operating at 70 per cent capacity. India, [...]
Falkland Oil & Gas falls on delays September 10, 2012 ■ Shares in Aim-listed Falkland Oil & Gas crashed 26 per cent to 67.25p yesterday after it revealed delays at its Loligo prospect. The firm said drilling is around five days behind schedule, but it expects to give a further update on the well within a week. Falkland hopes to reach the well’s target depth [...]
