CHIP’S DOWN July 21, 2009 SINGAPORE’S Temasek yesterday said Charles (Chip) Goodyear, the former boss of BHP Billiton, had decided not to become chief executive of the state investment firm due to differences over strategy. The shock announcement, less than six months after Goodyear accepted the post, comes after severe criticism of the fund which has been hammered by its [...]
FTSE enjoys best run in four years July 21, 2009 THE FTSE 100 has had its best run in four years after companies around the world delivered better-than-expected results. The index of top-rated companies ended a seventh day of rises one per cent higher at 4481.17. It is the best winning streak since July 2005, with daily increases bringing the FTSE 100 up 8.7 per [...]
FTSE gains on broad-based rally led by banks and miners July 20, 2009 A BROAD-BASED rally in the stock market saw Britain’s top share index recording gains for a sixth straight day, with banks leading the surge and commodity shares jumping on stronger crude oil and metal prices. The FTSE 100 index ended 54.87 points, or 1.3 per cent, higher at 4,443.62 — the highest close since 11 [...]
BHP Billiton in talks with its top two candidates for the chairmanship role July 19, 2009 BHP Billiton, the mining giant, is believed to be holding interviews this week with Jacques Nasser, former chief executive of Ford, and John Schubert, a former managing director of Esso Australia, for the post of chairman. The current BHP chairman Don Argus is expected to be stepping down after the £71bn iron ore joint venture [...]
Rio staff quit China after four arrests July 16, 2009 MINER Rio Tinto told its overseas employees in China to leave the country yesterday, as concerns grew over four of its workers who have been detained by the state on espionage and bribery charges. Rio said it was “still operating” in the country, and refused to comment on the withdrawal of its foreign staff. Rio Tinto’s China [...]
Middle of the road July 14, 2009 ANOTHER version of the popular and much-copied TT is here. Do I sound bored? I’m not really, it’s just that this sector is chock-full of perfectly good cars, many of which have taken a bit of the TT’s design and slapped them onto their own product. So, we see lots of this car creeping into [...]
Commodities and financials emerge as stars of the index July 13, 2009 THE FTSE 100 closed 1.8 per cent higher yesterday, boosted by stronger energy and mining stocks, while financial shares also provided support to the market which had fallen in five of last eight sessions. The index ended 74.96 points higher at 4,202.13, after falling 0.8 per cent on Friday to its lowest close since 28 [...]
First gains of the week as Alcoa boosts the markets July 9, 2009 THE FTSE 100 closed 0.5 per cent higher yesterday, ending a three-day losing streak on the back of gains in miners after reassuring earnings from Alcoa. The index closed 18.43 points firmer at 4,158.66, having fallen 1.1 per cent the previous session to its lowest closing level in more than two months. However trading was [...]
The hard-core soft-top July 7, 2009 IF this road test ends abruptly, it is because I’ve been skewered by a BAE Hawk T1A aircraft flown by one of the Red Arrows display team, which as I am writing are rehearsing for the first day of the Goodwood Festival of Speed. Or the even more earsplitting Eurofighter Typhoon, which is now overhead [...]
Four Rio staff held in China July 7, 2009 FOUR workers from Rio Tinto, the Anglo-Australian mining group, have been detained by Chinese authorities in Shanghai without explanation. The company said yesterday it is concerned about the arrest on Sunday of the Shanghai-based staff. So far it has not been able to speak to the three Chinese and one Australian passport holder. Rio Tinto [...]