Economic activity drops in Chile September 5, 2011 Chile’s economic activity fell 0.3 per cent in July from June, the central bank said yesterday, on weaker retail, industry and mining output, as economic growth moderates against a backdrop of financial market gloom. Year on year, economic activity was still up by four per cent in the Latin American country.
Rio Tinto and Anglo sell Palabora stakes September 5, 2011 RIO TINTO and Anglo American said they plan to sell their stakes in Palabora Mining, the South African copper miner, as it no longer fits their investment criteria. The two mining giants, which together own a 74.5 per cent stake in the group, said in a statement yesterday that the miner “is no longer of [...]
CNOOC shares fall after shutdown of oilfield hits output September 5, 2011 CHINA’s largest producer of offshore crude oil and natural gas CNOOC was hit by its biggest share price fall in a month yesterday after an oil leak at one of its major oilfields forced the company to cut its output estimates. Chinese authorities ordered CNOOC last week to suspend all operations at its PL19-3 field [...]
Clariant cuts its sales outlook as strong Swiss franc and low demand takes toll September 5, 2011 SWISS speciality chemicals maker Clariant cut its full-year sales and margins target for 2011 yesterday, as the strong Swiss franc and a softening of global demand take their toll. The Basel-based firm said it expects 2011 sales of SwFr7-7.2bn (£5.5 – £5.7bn) and earnings before interest, tax, depreciation and amortisation (Ebitda) margin between 12.8 and [...]
FIRST MILK JOINS FORCES WITH FONTERRA September 5, 2011 FONTERRA, the world’s largest milk processor, has entered the European markst for the first time through a joint venture with First Milk, which supplies 15 per cent of the UK’s milk. Whey from First Milk’s dairy operations in Cumbria will be used to supply New Zealand-based Fonterra’s food ingredients business.
Kofax shares slide after results September 5, 2011 Software provider Kofax has seen revenues grow 12 per cent to $243.9m (£150m) in the year to the end of June as market share grew and companies relied on its maintenance services. But the company’s shares took a nosedive, falling 17 per cent to top the FTSE losers yesterday, as it warned that revenue growth [...]
Polo plans a special dividend September 5, 2011 AIM-listed miner Polo Resources yesterday unveiled a further special dividend after more than doubling its annual net profit and completing several asset sales. The firm, which has also completed a share buyback this year, posted a net profit of $65.2m (£40.5m) for the year to the end of June and said it will pay investors [...]
Helical Bar secures new tenants September 5, 2011 Helical Bar has secured a further seven tenants for 200 Aldersgate, a refurbished building with 370,000 sq ft of offices. It said the new tenants are patent attorney Venner Shipley, Maples and Calder, Dexia Management Services, Oxera, recruitment specialist Talent 2, Asset International and i2 Office. Rental levels for the upper floors range from £48-£55 [...]
CITY MOVES | WHO’S SWITCHING JOBS September 5, 2011 Cushman & Wakefield The property consultant has appointed corporate real estate executive Simon Ward as a partner in its EMEA corporate occupier & investor services team in London. Ward has more than 30 years’ experience in European and international corporate real estate, holding senior roles including regional director of corporate real estate at Jones Lang [...]
FTSE at two-week low over poor data September 5, 2011 BRITAIN’S top share index was left nursing heavy losses yesterday after service sector data from China, the Eurozone and the UK intensified concerns the global economy is facing another recession. The FTSE 100 index ended down 189.45 points, or 3.6 per cent, at 5,102.58, its lowest close since 22 August, as global growth in services [...]
