FTSE up as Greek D-Day arrives February 20, 2012 Miners led the FTSE 100 upwards this morning as China moved to stimulate more growth in its economy and Eurozone chiefs were poised to finally sign a bailout agreement to save Greece. China’s central bank cut the amount of cash banks must hold in reserves, boosting lending capacity for the second time in nearly three [...]
Fortwo: a good scooter but not a car February 14, 2012 Historically, automakers partnering with fashion labels to design “cool” cars have had mixed results. Take this Smart limited edition Fortwo micro car, for example. It’s been given a makeover by British streetwear label Boxfresh. Whether your average Boxfresh fan a) has their eye on a two-seater Smart, b) can afford this limited edition two seater, [...]
CAR TALK February 14, 2012 MEET THE FIAT 500’S BIG BROTHER Fiat is launching a bigger, crossover version of its super-successful 500 city car at the Geneva motor show in March. The five-seater 500L (L stands for Large) will offer MPV-like space with an SUV-like drive and will be sold with a choice of TwinAir or 1.4-litre petrol engines or [...]
Moody’s UK warning hits FTSE 100 February 14, 2012 The FTSE dipped this morning after debt rating agency Moody’s warned it could downgrade top-rated sovereigns including Britain. Moody’s grim assessment sapped some of the confidence of investors who had been encouraged by Greece finally agreeing a package of austerity measures to steer it away from a default. The move put the UK’s rating in [...]
BHP and Rio Tinto in $4.5bn copper expansion February 14, 2012 BHP Billiton and Rio Tinto have raised their bets on global copper demand, approving plans for a $4.5bn expansion of the massive Escondida mine in Chile, while BHP plans to reopen a US copper mine idled three years ago. The two miners are already spending billions of dollars expanding output at their Australian iron ore [...]
BHP and Rio spend $4.5bn on mine February 13, 2012 BHP Billiton and Rio Tinto have approved plans for a $4.5bn (£2.8bn) expansion of the Escondida mine in Chile, the world’s biggest copper mine, where BHP said this morning the ore reserve estimate has been increased by 25 per cent. BHP, operator of the mine, plans to spend $2.6bn on two projects to boost output [...]
Greek shambles saps investor confidence February 10, 2012 Markets saw confidence drain away again today as the shambles surrounding Greece’s attempts to trigger further bailout funds continued unabated. Greece’s economic future hangs in the balance after the country’s international creditors demanded more steps from Athens before they release a rescue package. Resource stocks pegged the FTSE 100 back with miner Anglo American down [...]
Rio Tinto to pump $3.4bn into iron ore February 8, 2012 MINING giant Rio Tinto yesterday helped to give a boost to the mining sector as it announced a $3.4bn (£2.1bn) expansion in its iron ore operations in Australia. The FTSE 100 company’s move is aimed at stepping up production by more than 50 per cent in anticipation of growing demand from China. Rio, the world’s [...]
Investors waiting for Greece put the brakes on FTSE rally February 8, 2012 BRITAIN’S blue chips closed a touch lower yesterday as investors awaited more clarity on a Greek debt deal. Greek party leaders gathered to agree reforms needed to secure a new EU/IMF rescue package necessary to avoid a chaotic default that would aggravate Europe’s financial crisis. Rating agency Standard & Poor’s added pressure on negotiations between [...]
Miners buoy FTSE as Greece remains on knife edge February 8, 2012 The FTSE 100 opened on the front foot this morning as investors continued to cling onto hopes that Greece could be steered away from financial meltdown. Greek party leaders were set to meet again today to hammer out a reform deal in return for the new €130bn rescue from the IMF and EU. Leaders of [...]