Richemont sees luxury sales bonanza slow September 5, 2012 LUXURY firm Richemont, headed by Johann Rupert, said Asia sales slowed markedly in the first half of the year, rising 12 per cent compared to 46 per cent in the year to March. Sales in Europe grew at a faster pace of 19 per cent, down from 20 per cent in 2011-12.
Shanta Gold finds Tanzanian gold September 5, 2012 East African gold mining company Shanta Gold yesterday revealed “encouraging” exploration results from its Lupa gold field in Tanzania. Shanta signed a joint venture agreement with Great Basin Gold last year to explore Lupa Goldfields, the second largest gold field in the African country. Shanta said it had found nine prospect areas with good gold [...]
Polymetal looks for partnership September 5, 2012 Polymetal yesterday said it was looking for a joint venture partner to explore its Tamunier project in Russia, after some disappointing exploration results. It said it had found some gold in 50m tonnes of ore, but the project did not fit with the company’s strategy of looking at higher-grade assets, so it would consider a [...]
Rio sells aluminium business September 5, 2012 FTSE 100 miner Rio Tinto has finalised the $151m (£95m) sale of its North American arm of the aluminium wire and cable manufacturer Alcan Cable business to General Cable Corporation. Meanwhile, the sale of its Tianjin operation in China is expected to close later this year for $34m. It follows the plans announced last year [...]
City Moves | Who’s switching Jobs September 5, 2012 HSBC James Emmett has been appointed the bank’s head of global trade and receivables finance. He began his career at HSBC 17 years ago, and has held a variety of roles in trade finance, commercial banking, retail banking and strategy. Most recently, Emmett was head of strategy and planning for commercial banking. He replaces Rakesh [...]
Best of the Brokers September 5, 2012 JD SPORTS Ahead of interim reports on 18 September, Singer Capital has moved JD Sports back onto its “buy” list from “fair value” with a target price of 790p. The broker expects a fall in profits before tax from £16m to £2.4m after the company absorbed Blacks at the start of the year, but has confidence [...]
FTSE underperforms as BP weighs on a market awaiting Europe news September 5, 2012 BRITAIN’S benchmark share index fell to its lowest level in more than a month yesterday, underperforming gains on rival European stock markets, as BP slumped after the 2010 Gulf of Mexico oil spill returned to haunt the energy company. Nerves ahead of a European Central Bank meeting today, with the ECB under increasing pressure to [...]
FedEx outlook stokes bearish US sentiment September 5, 2012 US stocks closed out a second straight session of thin trading yesterday, with investors reluctant to make big bets ahead of a crucial meeting of the European Central Bank, which could announce new policies to help contain the Eurozone’s debt crisis. Media reports that European policymakers would unveil a bond-buying plan to bring down crippling [...]
Self-control: The secret ingredient that guarantees a successful life September 5, 2012 WHEN psychologists isolate the personal qualities that predict positive outcomes in life, they consistently find two traits: intelligence and self-control. So far researchers haven’t learned how to permanently increase intelligence. But they have discovered, or at least rediscovered, how to improve self-control. The first two steps are setting a goal, and then monitoring your behaviour. [...]
Obama isn’t working: He won’t win without a stronger message on jobs September 5, 2012 AS BARACK Obama pinned his electoral hopes on Bill Clinton’s rhetorical prowess at the Democratic convention last night, Mitt Romney is channelling Ronald Reagan by asking voters: “Are you better off now than you were four years ago?” It’s certainly throwback week on the campaign trail. But, with two landslide victories, Reagan may provide Romney [...]
