Negative cash flow at EADS as production costs increase November 8, 2012 EADS ramped up spending on several key infrastructure projects this year, resulting in negative cash flow of €3.2bn (£2.55bn) over the nine months to September. The aerospace and defence firm has invested in the production of several capital intensive projects at subsidiaries Airbus and Eurocopter, which led its cash flow to drop from a positive [...]
Talvivaara reports quarterly loss November 8, 2012 Finnish miner Talvivaara slumped to a third quarter loss of €4.3m (£3.4m) it said yesterday, down from a €5.5m profit the year before, as the company battled issues at its Sotkamo mine. Talvivaara’s output has been hit by heavy rainfall this year, and last week it had to shut the Sotkamo plant due to a [...]
Profit slumps 29pc at Shanks November 8, 2012 Underlying pre-tax profit at waste management group Shanks fell 29 per cent in the six months to September. Profits came in at £14.3m, down from £20.2m in the previous year, hurt by a deterioration in recession-hit solid waste markets in the UK and Netherlands and record lows in construction output.
Sandy hits United Continental November 8, 2012 United Continental, the world’s largest air carrier, said disruptions to operations because of superstorm Sandy reduced revenue and profit in October. United, which operates a hub at Newark Liberty International Airport in New Jersey, said that Sandy hurt revenue by about $90m and profit by about $35m in October.
Housing lifted by government scheme boost November 8, 2012 MORTGAGE lending climbed rapidly through the third quarter and into October, two sets of data showed yesterday, as the Funding for Lending scheme finally appeared to be having an impact on lending. This came in tandem with a reversal in the downward house price trend of the past few months, revealed by another set of [...]
London house price growth set to outstrip rest of UK for years November 8, 2012 London house price growth will be well ahead of the UK average for at least the next five years, estate agent Savills predicted yesterday. Central London housing will get 25.6 per cent more expensive over the five years to the end of 2017, the estate agent said, compared to 10.2 per cent growth in the [...]
Opec admits shale supplies will hit demand for its members’ oil November 8, 2012 OPEC acknowledged for the first time yesterday that technology for extracting oil and gas from shale is changing the global supply picture significantly, and said demand for crude would rise more slowly than it had previously expected. In its annual World Oil Outlook, Opec (Organization of the Petroleum Exporting Countries) cut its forecast of global [...]
Who’s switching jobs November 8, 2012 Houlihan Lokey Sascha Kroissenbrunner has been appointed director in the investment bank’s industrials group. He joins from UniCredit Group in Vienna, where he was managing director and head of the general industrials group for central and eastern Europe. He has also held senior positions at the Royal Bank of Scotland in London and Frankfurt. State [...]
Best of the Brokers November 8, 2012 IMAGINATION TECHNOLOGIES UBS has upgraded the chipmaker from “sell” to “neutral” with a 480p target. The broker sees the firm’s purchase of rival MIPS as positive, but generating returns could prove difficult. RWE Morgan Stanley rates the German owner of Npower “overweight” with a €40 target. The broker thinks RWE’s cost cutting is adding to [...]
America is failing to face up to the truth behind its looming fiscal cliff November 8, 2012 AMERICA, we are told, is a nation divided. But this wasn’t the closest presidential election in recent times. Far from it. Barack Obama won both the popular vote by a reasonable margin and stormed the electoral college. Obama’s fellow Democrats also rebuffed their opponents in races for the Senate. The only consolation for the Republicans [...]
