Goldman calls top of rally in commodities April 12, 2011 COMMODITY prices dipped yesterday after long-term bull Goldman Sachs advised clients to close their long positions on a basket of commodities including copper, platinum, soy beans and crude oil. Goldman’s “CCCP basket” has made a 25 per cent gain over the last four months, but the bank warned clients to take profits before an expected [...]
The new, prettier Jeep April 12, 2011 JEEP is America’s original, iconic extreme off-road brand and the oldest SUV brand there is. Originally used by the US military, its since become an upmarket choice for the school run. With its latest Compass SUV, which goes on sale this month (the first modern Jeep to be offered with a two-wheel “soft roader” option), [...]
BHP denies Woodside talks April 11, 2011 SHARES in BHP Billiton rose to match their May 2008 record price on the Australian Securities Exchange yesterday, after the mining group completed a A$6bn (£3.7bn) share buyback and denied it was in formal talks to buy liquefied natural gas specialist Woodside Petroleum. BHP, lead by chief executive Marius Kloppers (right), jumped nearly four per [...]
Caution ahead of US results pulls FTSE 100 to a flat close April 11, 2011 BRITAIN’S top share index closed flat yesterday, with caution from traders wary of turbulence during the US earnings season offset by strength in the banking sector following the ICB report on the future shape of UK banking. The FTSE 100 closed down 2.31 points, or 0.04 per cent, at 6,053.44 after trading in positive territory [...]
THE TIPSTER AIRLINES, ENERGY, NEWS AND BOOKIES April 11, 2011 RISING fuel prices and the ongoing threat of industrial action at its British Airways division is making it a difficult time for International Consolidated Airlines, despite last week’s encouraging traffic figures. Clearly any progress in the Libya situation may help ease oil prices and in turn give the sector as a whole something of a [...]
BHP dismisses Woodside bid talk April 11, 2011 BHP Billiton played down speculation it was in talks to acquire a cornerstone stake that could be worth $10.3bn (£6.2bn) in Australia’s largest oil and gas firm, Woodside Petroleum, from Royal Dutch Shell. BHP Billiton, widely rumoured to be considering a takeover of Woodside, said in a short statement that there was no basis for [...]
BHP Billiton eyes Shell deal to buy Australian energy firm April 10, 2011 BHP Billiton is plotting a £30bn takeover of Australian energy firm Woodside Petroleum, in a strategic switch into oil and gas by the world’s largest miner. The Anglo-Australian firm is said to be in talks with Royal Dutch Shell, Woodside’s largest shareholder, over a deal to buy its stake to mount a takeover challenge. Led [...]
BHP would be better off shopping abroad than plotting Aussie deal April 10, 2011 JUST two months ago BHP Billiton used its impressive half-year results to offer shareholders a $10bn (£6.1bn) buyback. Now it seems to be on the acquisition trail again – so no one could blame investors for being a little confused. BHP’s cash pile has been steadily increasing as recent acquisition attempts failed – despite fees [...]
Austrian firm lists despite lower price April 7, 2011 AUSTRIAN aluminium group AMAG has raised €366m (£320m) in the first Vienna listing since October 2007. The manufacturer sold at €19 per share, at the bottom end of its anticipated price of between €19 and €24. The range was narrowed earlier this week to between €19 and €21, amid tough market conditions for initial public [...]
CAR TALK April 5, 2011 KIA’S ELECTRIC CROSSOVER The Seoul Motor Show is underway and Kia has shown this unusual looking all-electric crossover utility vehicle (CUV) concept car called Naimo. The car – which will form part of Kia’s EV test fleet – has no middle B-pillars and has rear-hinged rear doors and a three-way split opening boot-lid. With a [...]