Transfield makes £358m takeover bid December 12, 2010 THE AUSTRALIAN contractor Transfield Services plans to buy Easternwell, a well services business, for $566m (£358m) and will sell new shares to help fund more than half the deal. The acquisition of the well servicing and construction firm will give Transfield more high-value work, the company said early today. Easternwell works in the mining, oil [...]
BHP Billiton tried to block Rio’s China deal, says cable December 12, 2010 MINING firm BHP Billiton pressured the Australian government to prevent rival Rio Tinto teaming up with Chinese company Chinalco, according to a diplomatic cable released to the Australian media at the weekend. The country’s then-treasurer Wayne Swan told US diplomats last year that BHP had lobbied the government to delay any decision on the $19.5bn [...]
Introducing the One-77 December 7, 2010 LEANING over one of the first examples of Aston Martin’s new One-77 supercar to look at the engine, my belt buckle comes within millimetres of scratching its left, front wing. The room falls silent, a couple of the engineers look agitated, the PR guy looks ashen. I have come as close as I ever want [...]
The new four-seat frontier December 7, 2010 SHOULD a high performance sports car be practical and should practicality even be a consideration in terms of its design? What if the car is an Aston Martin? Good grief: has the world gone mad? Well it seems not, because these days when 50 is the new 40, a four-seat supercar can well be all [...]
Rio to splash $3.5bn on bid December 6, 2010 MINER Rio Tinto yesterday made a $3.5bn (£2.2bn) bid approach for Africa-focused Riversdale Mining, sending the target firm’s shares surging 16 per cent and setting up a potential takeover battle. Rio’s move on Australia’s Riversdale is likely to spark a bidding war, as the company has hard coking-coal projects in Mozambique that could eventually supply [...]
Rio Tinto in £2.2bn move for Riversdale December 6, 2010 Anglo-Australian miner Rio Tinto made a $3.5bn (£2.2bn) bid approach for Africa-focussed Riversdale Mining, sending the target firm’s shares surging 16 per cent and setting up a potential takeover battle. Rio’s move on Australia’s Riversdale is likely to spark a bidding war, as the company has hard coking-coal projects in Mozambique that could eventually supply [...]
FTSE 100 surges on gains by commodities and financials December 2, 2010 BANKS and commodity stocks powered strong gains for Britain’s top share index by close yesterday, on increasing optimism about the global economy and investor confidence that the Eurozone debt crisis would be contained. The FTSE 100 index ended up 125.06 points, or 2.2 per cent, at 5,767.56, a second straight session of strong gains. It [...]
Commodities and banks help FTSE snap its losing streak December 1, 2010 BRITAIN’S leading share index staged its biggest one day really in three months yesterday, clawing back some of the losses made in the past three sessions, with commodities boosted by upbeat Chinese data and banks rallying after being hit by sovereign debt concern. The rally was also boosted by hopes the European Central Bank (ECB) [...]
Xcite Energy sets up share rights plan November 30, 2010 NORTH sea oilfield developer Xcite Energy yesterday revealed a defensive shareholder rights plan to ensure existing company owners can repel a hostile takeover bid if needed. The plan allows existing shareholders to buy new Xcite shares equal to the amount they already own at a substantial discount if another party tries to acquire 20 per [...]
Oils and financials weigh on FTSE offsetting miners’ rally November 30, 2010 BRITAIN’S leading share index retreated yesterday with a rally by miners more than offset by falls in oils and financials as investors fretted over Eurozone debt problems during a choppy session. The FTSE 100 closed down 22.68 points, or 0.4 per cent, at 5,528.27, a level not seen since the middle of September. The blue [...]