Xstrata starts production in Peru November 27, 2012 Miner Xstrata said yesterday that its Antapaccay mine in Peru had dispatched its first shipment of copper in concentrate. The mine is expected to produce an average of 160,000 tonnes of copper in concentrate each year. Production from the mine is expected to boost the miners production figures for the second half of the year. [...]
Who’s switching jobs November 27, 2012 RiverRock European Capital Partners Michel Péretié has been appointed partner and joint chief executive at the investment firm. He was most recently chief executive of the corporate and investment banking division of Societe Generale. Péretié was also previously chairman and chief executive of Bear Stearns International. Jones Lang LaSalle Jonathan Mills has been appointed to [...]
Best of the Brokers November 27, 2012 ABERDEEN ASSET MANAGEMENT Analysts at Citigroup yesterday downgraded the stock from “buy” to “neutral”, citing slow capital returns. They also increased the target price from 320p to 345p. SAGE George O’Connor at Panmure Gordon has reiterated his “sell” rating, saying brokers have “spivved up take-up chatter” but “the valuation is out of kilter with operational [...]
Lift to BAE Systems from Lockheed rumour helps FTSE edge upwards November 27, 2012 BRITISH top shares rose yesterday, helped by a 2.5 per cent jump in British aerospace group BAE Systems after four traders cited market speculation of interest in the company from US firm Lockheed Martin. “Vague rumours that Lockheed is showing interest,” one trader wrote in an email. BAE shares closed at 319.70p. Banks also helped [...]
Fiscal cliff fears send Wall St shares diving November 27, 2012 US stocks slid yesterday in a choppy session, losing ground in the last hour before the close after Senate Majority Leader Harry Reid expressed disappointment that there has been “little progress” in dealing with the fiscal cliff. The market was flat for most of the session but fell sharply after Reid’s comments, a signal that [...]
Mark Carney’s Canadian legacy has still not weathered the test of time November 27, 2012 MARK Carney, the Bank of England’s new governor, will leave his current position as governor of the Bank of Canada with a sterling reputation. The widespread acclaim he has attracted is based on his Bank’s deft handling of the beginning of the financial crisis, and his recent appointment as head of the G20’s Financial Stability [...]
Yet another Greek bailout will change nothing without structural reform November 27, 2012 ANOTHER bailout deal has been secured for Greece. Some of the country’s borrowing will be written off – it will be left with a debt to GDP ratio of “only” 125 per cent. But is this the end of the matter or another failure by Europe’s elite to face up to the real problems? With [...]
Why government must be smarter on procurement November 27, 2012 BRITISH industry needs accurate information about future opportunities in the marketplace so it can compete for and win business. That way it can plan ahead and buy the technology, labour and skills to match future needs. One in every seven pounds in this country is spent by the public sector. That’s an enormous £230bn spent [...]
Would easing student visa rules be enough to attract the best and brightest to Britain? November 27, 2012 YES Wendy Piatt Boris Johnson is right: students should be removed from net migration targets. International students are worth billions to London’s economy through their tuition fees and living expenditure alone. Their contribution to the capital’s intellectual and cultural life is priceless. Russell Group universities like Imperial, King’s, LSE, UCL and Queen Mary are world-class [...]
Rapid responses November 27, 2012 New beginnings [Re: An unusually brilliant move by Osborne will give City a huge fillip, yesterday] Mark Carney has performed his first conjuring trick by confounding the commentators with his surprise appointment. But to be a successful Bank of England governor, and to get the UK economy going, he is going to need a lot [...]
