BHP Billiton spin off close to launching March 29, 2015 MINING company BHP Billiton has been in talks with potential investors over its spin off firm South32. The new subsidiary, which is estimated to be worth $13bn (£8.7bn), consists of BHP’s unwanted mines and refineries. BHP first announced the new venture in August last year, and in October revealed that the company will be listed [...]
FTSE at a record high as miners lifted by metals – London Report March 23, 2015 BRITAIN’S blue-chip share index set a record high yesterday as mining stocks rallied with firmer metals prices, outpacing weakness in shares such as Weir Group. The UK mining index gained 2.2 per cent as copper hit a two-month high, driven by a weaker dollar on expectations the US Federal Reserve will stay accommodative for the [...]
FTSE is lifted to a record high post-Budget – London Report March 19, 2015 BRITAIN’S benchmark share index touched record highs yesterday, with gold miners outperforming, after the US Federal Reserve and Bank of England both dampened prospects of interest rate rises in the near term. The FTSE 100 index rose as much as 0.5 per cent to a record high of 6,982.79 points, beating the earlier record of [...]
BHP Billiton spin-off in good stead as debt is halved March 17, 2015 Commodities group BHP Billiton is set to spin-off its weaker assets with less debt than originally expected through fledgling mining company South32. South32’s portfolio of mines and refineries has long been overshadowed by BHP’s iron, petroleum and copper businesses. The smaller business contributed post-tax profits of $738m (£500m) in the last six months of 2014, [...]
FTSE rises ahead of Osborne’s pre-poll Budget – London Report March 17, 2015 BRITAIN’S top share index edged higher yesterday to extend a recent rebound from last week’s lows, with gains coming in ahead of key policy announcements from the UK and the US. The FTSE 100 rose 0.5 per cent to 6,837.61 points, as shares of natural-resources producers ticked up and utilities pushed higher, led by a [...]
FTSE boosted by miners on good Chinese figures – London Report March 16, 2015 BRITAIN’S top share index rebounded yesterday after its biggest weekly drop of 2015, with mining stocks boosting the market on expectations of steady economic growth in China, the world’s biggest metals consumer. The FTSE 100 closed 0.9 per cent higher at 6,804.08 points after dropping 2.5 per cent last week in what was its biggest [...]
Car review: Future-proof your life with the Audi A6 Avant TDI Ultra March 16, 2015 Audi’s family estate is big, economical and comfortable – and that makes it one of the best cars in its class. How best to future-proof your car? There’s one absolute rule: if it’s cheap to run, it’ll serve you well while it’s yours, and there will be plenty of people looking to take it off [...]
Car review: The Mercedes-AMG C 63S is a turbocharged blast from the past March 9, 2015 It’s the 1980s all over again; hemlines are up, stripes are in and the turbocharger is king. How you feel about the clothes is a matter of personal taste but the second coming of the turbo is good news. Unlike the fashion, the cars are a little more polished second time around. The AMG products [...]
Investors happy as mining giant BHP cuts capex February 24, 2015 SHARES in miner BHP Billiton were up by 6.24 per cent yesterday after the Australian firm revealed it had slashed capital expenditure (capex) for 2015 to $12.6bn (£8.2bn). The company reported capex of $16bn in the year ended June 2014. However, in the six months to December 2014, it paid out just $6.4bn, down 23 [...]
Greece and miners’ rally help London surge to record high – London Report February 24, 2015 Britain’s top equity index yesterday hit a record high as a rally in mining companies helped the three-decade-old blue chip index to surpass its previous high, set in late 1999. Reports that Greece had secured a lifeline from its creditors and increasing belief that the UK’s economic recovery was gaining momentum also helped the index [...]