Vedanta profits surge as firm rejig nears end November 7, 2012 INDIA-focused Vedanta reported an almost 50 per cent jump in first-half profit yesterday, 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), driven by record production at Cairn India, which was acquired last year. Vedanta said earlier this [...]
Global economic woe is testing even the biggest firms November 7, 2012 VEDANTA shares have been on quite a ride this year. Over the last three months, the shares have outperformed the FTSE 100, up some 10 per cent, but within that timeframe they also spent late August and early September down more than 10 per cent. Over the year to date, a massive rise of 40 [...]
Randgold warns over output for 2012 as production issues weigh November 7, 2012 GOLD miner Randgold Resources said profit sank 15 per cent over the third quarter, as it warned output for the full year would come in at the lower end of expectations. Profit for the FTSE 100 miner came in at $121.3m, down 15 per cent from the previous quarter. Gold output fell three per cent [...]
Clarksons sees choppy waters for ship broking November 7, 2012 SHIP broker Clarksons warned yesterday that the gloomy economic outlook and arid debt markets have dried up business, sending its shares down 8.7 per cent to £11.87. The 150-year-old company said freight rates and sales volumes have continued to fall since July, prompting it to lower expectations for its full-year results. “Clarksons has consistently highlighted [...]
Prime Minister gives backing to Microsoft work programme November 7, 2012 DAVID Cameron yesterday welcomed an initiative from Microsoft that aims to help 300,000 young people gain work skills over the next three years. The Prime Minister met with the Microsoft chief executive Steve Ballmer and said the “Get On” scheme is “the kind of support we need from business to inspire, provide skills, and create [...]
Merkel attempts to make peace with Cameron over EU spending November 7, 2012 GERMAN Chancellor Angela Merkel last night met with David Cameron in the hope of brokering a deal on the EU budget – as the Prime Minister promised to take “a very tough approach” to the negotiations. Cameron said yesterday that attempts to push through a budget increase at the meeting of EU leaders on 22-23 [...]
Hodge top dog at the Financial Planner Awards November 7, 2012 MATTHEW Hodge at PwC must be a very fine planner indeed, or else he has some excellent friends at Money Management, which run the annual Financial Planner of the Year awards. Over at the Mandarin Oriental in Knightsbridge, which was the venue for the 2012 ceremony, Hodge swooped the award for financial planner of the [...]
The most eligible people in the City: Tatler’s Little Black Book for 2012 November 7, 2012 ANNABEL’S private members’ club in Mayfair was where the most eligible people in the land gathered yesterday evening, in order to celebrate the publication of Tatler’s Little Black Book. The Capitalist was pleased to spot some City names on the inaugural most wanted list, and indeed just as many business bachelorettes as bachelors gracing the [...]
Long boom in incomes from 1986 to 2007 November 7, 2012 INCOMES soared across the whole of British society over the past 25 years, according to a report published yesterday by the Office for National Statistics. Even the financial crisis only knocked wages by a fraction of the huge leap experienced between 1986 and 2007, the study showed. Average wages – even after accounting for inflation [...]
Quantitative easing decision on a knife edge, say analysts November 7, 2012 THE BANK’S decision whether or not to expand the quantitative easing programme could go either way, analysts said yesterday. Weak business surveys and gloomy industrial production data could push the bank to add £25bn or more to its gilt portfolio, analysts said, but better-than-expected GDP growth would push rate-setters in the opposite direction. City A.M.’s [...]
