DSK rape investigation dropped October 2, 2012 French public prosecutors have shelved an investigation into allegations that disgraced former IMF chief Dominique Strauss-Kahn, a man once tipped to become president of France, had engaged in group rape. In a statement yesterday, the prosecution service said it acted after a young woman retracted an allegation against the 63-year-old, who is also fighting wider [...]
Red tape is top issue for finance October 2, 2012 Regulatory change is the biggest issue facing firms in the financial sector, ahead of the Eurozone crisis and global economic uncertainty, data from the Economist Intelligence Unit and Lloyds TSB revealed yesterday. Some 68 per cent of financial sector respondents to the survey put red tape changes as their biggest worry – versus 62 per [...]
A Twitter storm in a teacup for Waitrose October 2, 2012 LAST week was Social Media Week, an international meeting of minds where media types got together (online and offline) to discuss using social media data. An example of a company that should have taken a harder look before it leapt into the deep end of the social media pool was Waitrose, whose #Waitrosereasons Twitter campaign [...]
Glencore buys stake in grain hub October 2, 2012 Commodities giant Glencore has bought an interest in a deep sea grain export terminal in Russia. It has entered into a 50-50 joint venture agreement with Ukraine’s Kernel to buy the interest from EFKO Group. Taman, on Russia’s Black Sea coast, is close to Russia’s main grain producing region, and Glencore said the acquisition will [...]
Amplats says mine strike worsens October 2, 2012 Anglo American Platinum warned yesterday that security had worsened at its strike-hit South African mines as several thousand gold miners rallied over pay in the dispute-plagued industry. Amplats told workers not to show up to the Rustenburg mine yesterday as strike action became more fractious, but said operations will resume today.
Kalimantan regains control of Jelai October 2, 2012 Kalimantan Gold yesterday said it regained control of the Jelai Gold project in East Kalimantan Indonesia from Tigers Realm Metals (TRM). In a six month drill test, in which it drilled 12 holes to define an initial gold resource, TRM did not achieve the results it expected, and has turned whole ownership of the Jelai [...]
Labrador Iron Mines raises C$30m October 2, 2012 Anglesey Mining’s 26 per cent-owned Labrador Iron Mines is to raise C$30m (£18m) through a share placing. It plans to issue 30m shares at $1 each. The Canadian miner said the proceeds will be used for working capital and general corporate purposes. The placing is expected to finish on 25 October. LIM, an iron ore [...]
Who’s switching jobs October 2, 2012 Taylor Wessing Amanda Nelson has been appointed as a partner in the law firm’s private client practice. She joins from Manches, where she was a partner in its private client and international wealth practice. Nelson specialises in tax planning, with a particular emphasis on inheritance and capital gains tax. RBC Capital Markets Frank Garibaldi has [...]
Best of the Brokers October 2, 2012 HAMMERSON Investec has upgraded the group to “hold” from “sell” and raised its target price to 465p from 415p, given Hammerson’s “improved prospects” as it exits the office market to become a pure retail REIT. QINETIQ UBS raised its target price from 180p to 190p but kept its “neutral” rating, saying the uncertainty around the [...]
FTSE swings lower as rumours of Spanish bailout spook investors October 2, 2012 BRITAIN’S top share index continued its choppy trend and was pulled marginally lower yesterday, as weakness in banks and miners overpowered results-related gains for companies such as Babcock and Tesco. The FTSE 100 closed down 11.00 points, or 0.2 per cent, at 5,809.45. The index has swung in a 100-point range over the last five [...]
