BEST OF THE BROKERS January 30, 2012 WHITBREAD Credit Suisse has cut its rating for Premier Inn and Costa coffee owner Whitbread from “outperform” to “neutral”, saying that downside risks at the company are increasing. The broker expects a two per cent decline in revenue per average room at Premier Inn in 2013, which leaves its earnings per share estimates seven per [...]
Anglo lifted by copper as diamonds dip January 26, 2012 MINING giant Anglo American yesterday posted a rise in quarterly output for its key commodities, but a dip in its diamond production, which was hit by weaker prices. The FTSE 100 company said iron ore was up five per cent at 12.4m tonnes – fuelled by the $1bn (£636m) Kolomela mine, which reaped rewards ahead [...]
BEST OF THE BROKERS January 26, 2012 CHEMRING Credit Suisse has downgraded the arms and defence group to “neutral” from “outperform” and lowered its target price to 420p from 460p, as well as reducing its 2012 earnings estimates by 15 per cent. The broker sees the firm as being in a “new norm” where growth is much weaker and order timing unpredictable, [...]
CAR TALK January 24, 2012 NEW SLK 55 AMG TO SET YOU BACK UNDER £55,000 Mercedes–Benz has announced prices for its powerful SLK 55 AMG. The top of the line AMG model has a new 5.5-litre V8 engine good for 421bhp which can propel the car from 0-62mph in 4.6 seconds. The car produces 30 per cent less emissions and [...]
Rio Tinto output is hit by China fears January 17, 2012 LONDON-LISTED miner Rio Tinto yesterday reported almost flat iron ore production growth for the fourth quarter, weaker than some market expectations amid concerns that Chinese demand is softening. The company reported a three per cent rise in output between the third and fourth quarters of 2011, down from growth of nearly double that at the [...]
Lean and green but not very mean January 17, 2012 Whenever I see a Toyota Prius, it is travelling in the outside lane on the M6 Toll road at a blistering pace. I have always assumed that the owners are keen to recharge their batteries, or that even worthy eco warriors sometimes like to let loose and cane their cars once in a while, when [...]
CAR TALK January 17, 2012 F1 DRIVERS TAKE TURN OFF PISTE In a display of spectacular silliness Scuderia Ferrari drivers Fernando Alonso and Felipe Massa have raced two FF four-seater, four-wheel drive Ferraris down a ski slope in the Italian Dolomite mountains. Alonso said of the 600hp FF: “It’s perfect for everyday use with the whole family in the car.” [...]
Total seals £2.3bn shale gas deal with Chesapeake January 3, 2012 FRENCH oil group Total is ploughing $2.3bn (£1.47bn) into the development of US shale gas reserves in Ohio in the latest example of global energy companies piling into new energy sources made economic by the high price of crude. In a deal with Chesapeake Energy, which the US group announced in November without identifying its [...]
The Range Rover Sport is refined power December 20, 2011 How can a car be comfortable when you’re off-roading?” asks my incredulous co-driver of the latest 2012 Range Rover Sport, as we ascend a rocky river bed, somewhere on the Roxburghe Estate in the Scottish borders. It’s a good question. We’ve just descended a drop to access the river we’re in, that saw the 2.5-tonne [...]
Miners fuel FTSE gains December 16, 2011 The FTSE 100 continued where it left off in the last session with a moderate rally fuelled by positive data from the US. US weekly jobless claims fell to a three-year low suggesting that its economic recovery was still on track. But markets still remain braced for credit rating downgrades for Eurozone countries as agencies [...]