Rothschild calls again for new board at Bumi January 28, 2013 THE BUMI soap opera over who will control the coal miner continued yesterday as co-founder Nat Rothschild questioned the independence of a new director of Indonesian subsidiary Berau Coal, repeating his call for a new board at the London-listed miner. Bumi has appointed Eko Budianto as a replacement to Rosan Roseslani, and has also appointed [...]
Mitie on track for strong second half as contract wins pay off January 28, 2013 OUTSOURCING company Mitie said yesterday it expects total revenue growth to be higher in the second half on the back of its recent Lloyds Banking Group contract win and acquisition of healthcare group Enara. Mitie, which bought Enara last October for £110.8m, said it remained focused on the healthcare, local authority and social housing markets [...]
Minera launches £20m share placing for Peruvian gold mine January 28, 2013 LATIN American miner Minera is hoping to raise up to C$32m (£20m) in a share placing for the development of its Ollachea gold project in Peru, it announced yesterday. The offering will be marketed in Canada, the UK, the US and in certain jurisdictions in South America on a private placement basis. The Ollachea project [...]
Polyus Gold output jumps January 28, 2013 REFINED gold output at Russian producer Polyus Gold jumped by 12 per cent last year to a record 1.68m ounces, it said yesterday. The gold producer, which exceeded its 2012 production target by five per cent, yesterday recorded the fifth consecutive year of growth in gold output. The yellow metal producer forecast refined gold production [...]
BP starts production at Valhall January 28, 2013 BP has kicked off output at its Valhall field in the Norwegian North Sea, which is expected to ramp up to producer around 65,000 barrels of oil equivalent a day in the second half of 2013. “It is one of BP’s most complex field expansion developments and gives Valhall a further 40-year design life with [...]
Thermal coal prices fall at NWR January 28, 2013 Central European coal producer New World Resources yesterday said prices for thermal coal had plunged 19 per cent this year to €60 (£51) a tonne, due to oversupply in the market, which sent its shares tumbling on the market yesterday. Elsewhere, the average sale price of coking coal in the first quarter this year was [...]
Watchdogs baffled by 787 fault January 28, 2013 Aviation authorities have admitted they still do not know what caused a fault that led to the emergency landing of a 787 Dreamliner plane earlier in the month. The US National Transportation Safety Board said it has found “no obvious anomalies” in the batteries thought to have been at the root of the problems that [...]
City Moves for 29 January 2013 | Who’s switching jobs January 28, 2013 Arbuthnot Latham The private bank has appointed Dan Saxby as director, private banking. He joins from Coutts & Co, where he was an executive director and wealth manager. Saxby has 24 years’ experience in the industry. BDO The accountancy firm has appointed Kevin Cummings as a tax partner. He joins from Berwin Leighton Paisner, where [...]
Best of the Brokers January 28, 2013 CAPITA Canaccord Genuity has downgraded the stock from “hold” to “sell”, with a target price of 650p. While Capita remains a “well-managed business”, says Canaccord, “its investment case has diminished”. The broker warned that medium-term growth rates could be slow due to changing government initiatives. Investors reacted negatively to the downgrade yesterday as the stock [...]
FTSE breaches the 6,300 mark but loses steam January 28, 2013 BRITAIN’S top share index breached the 6,300 level for the first time since May 2008 yesterday, driven by strength in banking and energy stocks, although that heady height failed to hold for the close. Global giant HSBC added the most points to the FTSE 100 index, with its 1.0 per cent advance alone, accounting for [...]
