Billiton ups iron ore output but uncertain over growth July 21, 2010 MINING giant BHP Billiton reported a 16 per cent jump in quarterly iron ore production yesterday, but voiced caution over the short-term outlook for commodities markets. “Uncertainty surrounds the near-term prospects for growth in the developed world as governments adjust fiscal policies,” BHP Billiton said in its June quarter production report. “Within China, measures introduced [...]
London breaks five days of losses on strong US earnings July 21, 2010 BRITAIN’S leading shares broke a five-day losing streak yesterday after upbeat corporate earnings from the US and positive mergers and acquisitions sentiment spurred a rebound, led by banks and commodities. The FTSE 100 closed up 75.18 points, or 1.5 per cent, at 5,214.64, having shed 2.5 per cent over the previous five sessions. UK Banks [...]
CAR TALK July 20, 2010 PEUGEOT’S NEW LOOK Take note. This is the new Peugeot 508 which is the biggest indicator yet of how much more handsome Peugeot cars are going to become. The 508 replaces two cars in the Peugeot range – the 407 and 607 – and is better looking than either. Thanks to its narrower grille and [...]
THE TIPSTER July 19, 2010 EXPECTATIONS are high for Ryanair’s first quarter trading update that will be announced today. Its last update in June showed a 280 per cent jump in pre-tax profits for 2009. Back in June it announced that it expects growth to expand by 11 per cent in 2010. The airline is rarely out of the news [...]
FAIRFAX CO-FOUNDER CRAWFORD ON THE HUNT FOR A NEW INVESTOR July 19, 2010 IS A changing of the guard in the offing down at boutique investment bank Fairfax? I hear that Rolly Crawford, who co-founded the firm back in 2006, is on the lookout for a new major investor to take Fairfax forward in its ambitions. A number of interested parties have already been sounded out about the [...]
£97,000 worth of fun July 13, 2010 THE reason that Aston Martin’s V8 Vantage is so well-loved is all to do with a little valve in the exhaust system. Around town and driving normally, the V8 Vantage delivers the usual Aston Martin contemplative serenity, but under full acceleration the V8 Vantage makes the most fantastically hellish noise as the valve opens up. [...]
Depressed mining stocks are finally starting to look attractively valued July 12, 2010 IT WAS a tough second quarter for London-listed miners, which were dealt a severe blow by a toxic combination of general risk aversion, a planned tax on miners’ profits in Australia and a government-orchestrated slowdown in China. After reaching 25,356.51 on 6 April – its best level since July 2008 – the FTSE 350 mining [...]
Rio and Xstrata start Australian expansion after mining tax deal July 6, 2010 MINING giants have resumed expansion plans in Australia following a deal with the government over a new profits tax. Xstrata resumed A$186m (£104m) of exploratory work in Queensland yesterday, lifting a spending ban that stood during negotiations over the levy, which will now charge miners 30 per cent on some operations. The head of Rio [...]
Real men only apply July 6, 2010 For a while, a few years back, it looked like the US trend for vast trucks and pickups was going to catch on here. Stateside rappers wearing signet rings the size of dinner plates applied the same “bigger is better” approach to all of their purchases, and cars like the mahoosive Hummer were suddenly very [...]
Weak banks and miners hurt FTSE July 5, 2010 WEAK banks and miners, beset by doubts over the health of the global economic recovery, pulled down Britain’s top share yesterday, while BP rose on media reports it is seeking a strategic investor. By the close, the FTSE 100 index was down 14.56 points, or 0.3 per cent at 4,823.53, having ended 0.7 per cent [...]