American industry spikes in July August 16, 2011 US industrial output recorded its best gain in seven months in July as the auto sector bounced back from supply disruptions wrought by Japan’s devastating earthquake in March. Industrial output increased 0.9 per cent, the Federal Reserve said yesterday, after a 0.4 per cent gain in June – nearly double economists’ expectations for a 0.5 [...]
Republican hopefuls attack Fed August 16, 2011 GOP candidates for the presidential race lined up to attack the Federal Reserve yesterday, as the race prompted some fiery rhetoric. Right-wing Texan governor Rick Perry said it would be “treasonous” if Fed chairman Ben Bernanke announced more quantitative easing, also adding: “We would treat him pretty ugly down in Texas.” Rival Michele Bachmann was [...]
Fitch confirms US is gold-plated August 16, 2011 Fitch Ratings said on yesterday that it affirmed the US’s top-notch credit rating at AAA, giving the world’s largest economy a reprieve after it was downgraded by Standard & Poor’s little more than a week ago. Fitch said the outlook for the rating was stable. However, it said the US government had to show tangible [...]
Statoil makes giant North Sea discovery August 16, 2011 STATOIL, the Norwegian state-controlled oil and gas company, announced yesterday that two previous North Sea oil discoveries are connected and together may represent the biggest find in Norway’s part of the continental shelf in 30 years. Statoil said the Aldous Major South discovery in the North Sea, may hold twice as much oil and equivalents [...]
Pennon’s Viridor is doing well August 16, 2011 WATER and waste company Pennon said it expects higher full-year profits at its waste management unit, Viridor, on the back of strong trading. Waste management, recycling and renewable energy company Viridor accounts for a third of group profits and Pennon had said in May the unit would boost growth, as projects to generate energy from [...]
Shell says Gannet Alpha oil rig has a second leak August 16, 2011 ROYAL Dutch Shell said oil continued to escape into the North Sea after it discovered a second leak from its Gannet Alpha platform, in what has been the largest spill there in a decade. The Anglo-Dutch company confirmed that whilst the main leak in the flow line was stopped on Thursday last week, it was [...]
Harvey Nash upbeat August 16, 2011 BRITISH recruitment and IT outsourcing services firm Harvey Nash Group said it expected a 40 per cent rise in first-half pre-tax profit on strong growth in placements, particularly in Europe, Germany and the Nordics. The company also said it planned to raise its interim dividend by 10 per cent. “A strong financial position, combined with [...]
Chinese bullet train operator to delay $5bn dual listing after crash in July August 16, 2011 A £3bn listing plan by the operator of China’s new Beijing-Shanghai bullet train, initially targeted for next year, will be further delayed following last month’s deadly train crash, sources said yesterday. The delay is the latest blow to the nation’s scandal-plagued rail system after China CNR Corp announced last week it would recall 54 bullet [...]
Mears mulls expansion after a record first half August 16, 2011 BRITISH social housing and home care provider Mears reported a seven per cent rise in first-half pre-tax profit and said it was well-placed to expand in its core markets. Mears, which services hundreds of thousands of local authority and housing association homes and has a rapidly growing care-in-the-home business, made a pre-tax profit of £14.1m [...]
Heritage Oil boosts Russian output August 16, 2011 Production has more than trebled at one of Heritage Oil’s Russian fields, as results from drilling and testing one well exceeded expectations. The oil and gas company announced that production at the Zapadno Chumpasskoye Field increased from 431 barrels of oil per day (bopd) to the current level of 1,600 bopd. Well 363 is now [...]
