Mining shares are crashing on this Australian update December 11, 2013 An update from Australia's third biggest copper producer, Oz Minerals, has investors panicked. Last night the company announced a disappointing results, alongisde a poor outlook for its flagship mine, Prominent Hill (pictured). Societe Generale's Sebastien Galy says that this indicates over capacity, and that "such over capacity exists also on the transformation side also in [...]
BHP Billiton looks to reduce its annual spending by one quarter December 10, 2013 FTSE 100-listed mining giant BHP Billiton yesterday indicated that it would cut annual spending to around $15bn (£9.1bn), as it looks to simplify the business and grow its margins. “A 25 per cent reduction in capital and exploration expenditure is planned for this financial year and our level of investment will decline again next year,” [...]
BHP’s Yeager joins Cairn India December 4, 2013 FTSE 100 oil and mining firm Vedanta Resources yesterday said it has hired Mike Yeager as chairman of the operations review board at its subsidiary Cairn India. Yeager was formerly chief executive of the global petroleum business at Australian miner BHP Billiton and worked at Exxon Mobil. “[Yeager’s] rich global experience will help Cairn to [...]
To Infiniti but probably not beyond November 18, 2013 This tech-heavy premium motor has an impressive array of gadgetry but fails to knock your socks off Performance first” is the motto of Infiniti, the premium car brand from the same company behind Nissan. You can tell it’s serious because, at the launch of its latest car in Barcelona, everyone from Infiniti is dressed like [...]
Who says green has to mean dull? November 11, 2013 The powerful and attractive new Porsche Panamera is a vast improvement on first generation hybrids PORSCHE has been selling its hybrid Panamera since 2011 but this is its first plug-in car. Its predecessor, like other first generation hybrids, had an absurdly limited electric-only range of just two miles, which meant its hybrid components only served [...]
UK’s biggest 350 firms showing a return to growth November 11, 2013 THE UK’s biggest 350 companies are mirroring the British economy’s nascent return to growth after companies on the index saw a steady rise in annual sales, fresh research out today shows. According to the latest year-end numbers from FTSE 350 firms that reported in the three months to September 2013, overall revenues are up 1.3 [...]
BMW electrifies driving in the city November 4, 2013 The German manufacturer’s first electric car is both a revelation and a bargain LOTS of companies claim their products are revolutionary. But when BMW says its new i3 electric car is ground-breaking, it means it. Usually, electric cars are bought by eco-conscious people on environmental grounds. Such cars are often compromised in terms of space and [...]
The A3 compact saloon vs the hatch October 28, 2013 Audi is taking a punt on this new-ish segment. We find it has bags of character, if not the “oomph” factor IF THERE’S a niche to be filled in the car market, Audi is often the first there. And so it is with the new compact Audi A3 Saloon, the 47th model in Audi’s line [...]
BHP bullish on commodity demand October 24, 2013 BHP Billiton told shareholders yesterday it expects global commodity demand to grow by up to 75 per cent over the next 15 years, remaining bullish on the Chinese market despite recent concerns of a slowdown in growth. At its AGM, BHP also said it would stick to a “wait and see” approach in its expansion [...]
BHP Billiton’s shares surge on raised iron ore output guidance October 22, 2013 FTSE 100-listed BHP Billiton’s share price surged over four per cent yesterday, after the mining giant posted a strong quarterly operational update and lifted its full-year iron ore production guidance. Four major projects started production during the quarter, including the expansion of the Jimblebar iron ore mine, which commenced six months ahead of schedule. The [...]