Vedanta profits soar almost 50 per cent November 7, 2012 India-focused miner Vedanta reported an almost 50 per cent jump in first-half profit this morning, boosted by record output from subsidiary Cairn India. Earnings before interest, tax, depreciation and amortisation for the six months to September came in at $2.6bn (£1.62bn), helped by production at Cairn India, which it acquired last year. Zinc profits fell [...]
Obama wins US election November 7, 2012 President Barack Obama last night won a second term in the White House, prevailing despite dissatisfaction over the US economy to secure victory over Republican candidate Mitt Romney. The Democrats retained a majority in the Senate, while the House of Representatives remained in Republican control. Obama scored impressive victories across the US, so much so [...]
Rising revenue at Burberry November 7, 2012 Luxury goods retailer Burberry this morning posted an eight per cent rise in revenue over the six months to September. Total revenue for the luxury retailer grew to £883m over the half year. However, the group reported profit before tax of £111.9m over the period, down from £158.7m last year after Burberry took a £71m [...]
ING to cut headcount by 2,350 November 7, 2012 Dutch bank ING is to cut 2,350 jobs, it announced this morning, as it streamlines its business. ING said it would cut 1,350 jobs from its insurance arm and 1,000 from the commercial banking division as it aims to separate both operations in difficult markets. Chairman Jon Hommen said today: “As we work to solidify [...]
America decides November 6, 2012 ■ Obama edges ahead as race goes down to wire ■ Swing states are divided by the smallest of margins US VOTERS went to the polls yesterday in one of the tightest presidential elections in memory, with the race to the White House set to be decided by the slimmest of margins in a number [...]
So much for the election. Now America must regain its mojo November 6, 2012 AS ever, the actual voting was the easy bit. The truly epic task comes next: trying to mend the US economy. Contemporary America is a strange place: in some ways, it remains astonishingly successful; in others, remarkably weak. More than ever, the giant has feet of clay, a tragedy for those of us who love [...]
What the other papers say this morning November 6, 2012 FINANCIAL TIMES BHP begins hunt for new chief BHP Billiton has quietly started looking for a successor to Marius Kloppers, chief executive, in what could herald a further shake-up in the leadership of the global mining industry following a five-year period of stability. JPMorgan in talks over SEC claims JPMorgan Chase is in advanced settlement [...]
How the US electoral system works and how states are won November 6, 2012 THE President of the United States of America is not directly elected by the people, but by a group of 538 representatives known as the electoral college. Each state has between three and 55 members of the college, weighted broadly by population. The members, who are typically local politicians chosen to recognise public service, normally [...]
The other race: getting control of Congress November 6, 2012 THE Republicans were projected this morning to keep control of one of the other centre of power up for grabs in the election: the House of Representatives. The US President actually has little legislative power to support his agenda without the support of Congress – made up of the House of Representaives and the 100-seat [...]
Asian markets struck by initial US uncertainty November 6, 2012 UNCERTAINTY over the outcome of the presidential election weighed on Asian markets as they opened this morning, after the Dow Jones index had posted its biggest gain in a month as the US voted. Wall Street had bet on a Barack Obama victory yesterday, pushing the Dow up more than one per cent yesterday. Japan’s [...]
