Evraz annual output down five per cent January 18, 2013 Crude steel production slumped by five per cent last year for Russia’s largest steel producer Evraz. Output fell to 15.9m tonnes, from 16.7m tonnes in 2011, on the back of overhauls at its Russian steel mills. The temporary suspension of production at Evraz Vitkovice’s steel shop in the Czech Republic also weighed on output over [...]
Glenstrata completion date pushed back January 18, 2013 Commodities giant Glencore has pushed back the completion date for its tie-up with rival Xstrata as it waits for regulatory approval from South Africa and China. Last month, the miners announced the extension of the “long stop date” for the £56bn merger from 31 December to 31 January. As regulatory processes in South Africa and [...]
UK car exports hit record high January 17, 2013 THE UK exported more cars than ever before in 2012, figures revealed yesterday, providing a much-needed boost for the country’s manufacturing sector. British factories made 1.46m cars last year, a rise of nine per cent and the highest number since 2007 – and experts predict further growth in the years ahead, Of these, 1.21m were sold [...]
Bosses clash on EU – but speech is off January 17, 2013 TULLETT PREBON boss Terry Smith has thrown his weight behind the City campaign for an EU referendum – but David Cameron has been forced to cancel today’s long-awaited speech on Britain’s future in Europe due to the hostage crisis in Algeria. Smith, chief executive of the FTSE 250 broker, told City A.M. that he supports [...]
Snow set to blast London as train services scrapped January 17, 2013 COMMUTERS were last night braced for travel chaos today as train operators cancelled services ahead of a snow blizzard set to batter the UK. Up to six inches are expected to fall across London throughout this morning. The Met Office last night placed much of the South East on an amber warning, the second most [...]
Why sterling’s decline could push up inflation once again January 17, 2013 THERE was a time when a weaker pound used to boost exports. These days, it doesn’t appear to make a noticeable difference, in the short term at least. Last year’s brilliant growth in car exports – the UK sold more cars abroad than ever before in its history, one of the most cheerful news stories [...]
Buyers start to circle HMV sale January 17, 2013 COLLAPSED retailer HMV is being circled by up to 50 potential suitors keen to buy parts of the chain, it emerged last night. HMV, which appointed Deloitte as administrators on Monday, has received expressions of interest from a variety of potential buyers, including private equity groups and trade buyers, Deloitte said. Game, the video game [...]
S&P 500 soars to five year high January 17, 2013 The S&P 500 advanced to a five-year intraday high yesterday on signs of strength in the housing and job markets and on better-than-expected results from online marketplace eBay. The S&P stayed on track for its third consecutive advance, which pushed the index above an intraday peak set in September to its highest since December 2007. [...]
What the other papers say this morning January 17, 2013 FINANCIAL TIMES Senators seek energy drinks data US senators stepped up their investigation into energy drinks on Thursday, demanding that companies making products such as Monster, AMP, Red Bull and Rockstar hand over internal documents that prove they are safe. Senators Richard Blumenthal and Richard Durbin and Representative Ed Markey asked 14 energy drink companies [...]
Tesco cuts US jobs ahead of exit January 17, 2013 Retail giant Tesco has slashed 50 jobs at its US company Fresh & Easy as it gears up to pull out of North America. Most of the cuts are coming at its head office in Los Angeles. Tesco said: “We have cut a small number of positions in the head office as we continue the [...]
