Lenovo defies gloom to become world’s biggest PC manufacturer November 8, 2012 CHINESE computing behemoth Lenovo recorded a 10 per cent increase in PC shipments in the three months to the end of September yesterday, a boost that is expected to mean it has overtaken Hewlett-Packard (HP) as the world’s biggest PC manufacturer. The company, which has been rapidly gaining market share as US and Japanese rivals [...]
3i Infrastructure returns improve November 8, 2012 Listed investment firm 3i Infrastructure posted rising returns yesterday in spite of subdued buying and selling activity. 3i Infrastructure, whose assets include stakes in Eversholt Rail Group, Anglian Water and an Indian road builder, said returns rose 94 per cent to £30.9m in the six months to the end of September, while net asset per [...]
Siemens aims to save £4.8bn November 8, 2012 German engineering conglomerate Siemens said yesterday it aims to save €6bn (£4.8bn) over the next two years as it fights to stay competitive in a weak global economy. The savings target was much higher than the €2-4bn analysts had expected, sending Siemens’ shares up four per cent – one of the biggest gainers in Europe. [...]
Micro Focus revenues in line November 8, 2012 Micro Focus, a software provider for 91 of the FTSE 100 firms such as Tesco and HSBC, said yesterday that in the past six months revenues were in line with the market for the period and earnings are slightly ahead of expectations. During the period the company reduced its net debt to $96.2m (£60.2m) from [...]
ENRC pins hope on Congo as its revenue sinks November 8, 2012 REVENUE at Eurasian Natural Resources Corporation (ENRC) decreased sharply in the nine months to September, as it said it would prioritise copper projects in the Congo. ENRC, which is the world’s largest ferrochrome producer, said yesterday that it had completed its five-year spending review and intends to focus on five key projects, including a ferroalloys [...]
AngloGold slashes spending amid crippling mine strikes November 8, 2012 SOUTH AFRICAN gold miner AngloGold Ashanti yesterday said it had cut its spending budget for this year, to shore up its balance sheet in the wake of strikes that have crippled much of the country’s mining industry. The miner will reduce its capital expenditure budget by $200m (£125m) to between $2bn and $2.1bn. It will [...]
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.
