Production up at Rio Tinto’s Oz operations July 14, 2011 GLOBAL resources giant Rio Tinto has revealed a quarter-on-quarter production rise in its Australian operations, bouncing back from several cyclones, widespread flooding and a train derailment which impeded its March performance. Rio’s global iron-ore production increased by 49m tonnes during the second quarter of this year, up 12 per cent on the previous quarter. However, [...]
Fresnillo says silver output hits record July 14, 2011 PRECIOUS metals miner Fresnillo posted record silver and gold production in the second quarter yesterday, boosted by its Saucito and Soledad-Dipolos mines in Mexico, at a time when the gold price is at a record high. Total silver production, including silver sold from the Sabinas mine under its Silverstream agreement, rose 7.2 per cent to [...]
Peabody to develop surface coal mine in China’s Xinjiang Region July 14, 2011 US COAL firm Peabody Energy said yesterday it had entered into an agreement with the Xinjiang government to pursue development of a 50m tonne-per-year surface coal mine in Xinjiang, China. As per the agreement, Peabody said it would construct, manage and operate the mine. The company will also conduct geologic, engineering and environmental reviews of [...]
CITY MOVES | WHO’S SWITCHING JOBS July 14, 2011 Towry The wealth adviser has appointed Gerald Corbett as a non-executive director, adding to his chairmanships of Britvic and Moneysupermarket.com and his non-executive directorship of Numis Securities. Corbett’s previous non-exec roles include Greencore Group, Burmah Castrol and MEPC; he is also a former chairman of SSL International and the Woolworth Group. During his executive career, [...]
BEST OF THE BROKERS July 14, 2011 MORGAN CRUCIBLE Citi reiterates its “buy” rating on the engineering group and raises its target price from £3.70 to £4.10, following an unscheduled trading update reflecting a strong finish to first half trading. Sales for the period are now set to be around £560m, with pre-restructuring earnings before tax at £70m. Compared to previous forecasts, [...]
Commodity falls and fears for stress tests see FTSE decline July 14, 2011 FALLS among commodity issues sapped the strength of Britain’s top share index yesterday, as worries over global growth clouded the demand outlook for metals and oils. At the close, the FTSE 100 index was down 59.48 points, or one per cent at 5,846.95, reversing all and more of the previous session’s 0.6 per cent rally. [...]
Wall St sags on new Bernanke talk July 14, 2011 US STOCKS fell yesterday as new comments from the Federal Reserve chairman dashed investors’ hopes for the chance of further stimulus and tech shares pushed the Nasdaq down one per cent. During a second day of testimony about the economy, Fed Chairman Ben Bernanke reiterated that the US central bank would be ready to inject [...]
First time buyer market may ease July 14, 2011 WITH the Bank of England keeping interest rates at the record low of 0.5 per cent, the outlook should be good for those looking to buy a home. But with renting in London costing 50 per cent more than the rest of the country and banks requiring higher and higher deposits, the picture for those [...]
RENTING July 14, 2011 MANAGING PARTNER OF BLACK BRICK PROPERTY Q. I own a flat and I’m just about to move out of London and rent it. What are your thoughts on renting furnished or unfurnished? A.Renting unfurnished tends to encourage tenants to stay longer in properties as they have the hassle of moving their furniture in and out. [...]
FOCUS ON: EAST GRINSTEAD, SUSSEX July 14, 2011 ACORN HOUSE, MILL FIELD Price: £499,000 This four-bedroomed family home with a garden has a living, dining and utility room downstairs. The upstairs houses the bedrooms and a family bathroom. The master bedroom has its own en-suite facilities. Contact: Hamptons on 020 7236 8398 or go to www.hamptons.co.uk POETS PLACE, HOLTYE ROAD Price: £575,000 This [...]
