BHP Billiton warns of job cuts in coal August 16, 2012 BHP Billiton said today that jobs could go at its Australian coal mines as the company faces a deteriorating market, the latest sign of global miners scaling back operations due to slowing industrial activity in China. The prospect of job cuts raises doubts about the strength of Australia’s mining boom, which has hinged on China [...]
China trade data weighs on FTSE August 10, 2012 Britain’s top share index dipped this morning, weighed down by weakness in mining stocks and demand concerns following poor trade data from China. The FTSE 100 was down 0.1 per cent following weak trade figures and a nine-month low in crude oil imports which painted a picture of a slowing economy. Meanwhile, disappointing economic data [...]
Correction August 9, 2012 In a piece printed yesterday on mining firm Rio Tinto’s profits, City A.M. referred to a recent report from BHP Billiton. BHP Billiton does not report its preliminary results until Wednesday 22 August. We apologise for the mistake.
Vim added to trusty Audi estate August 7, 2012 Audi’s A6 Allroad model has long been something of the unsung hero in its ever-expanding model range. Is it an oddity? Well, it’s certainly unique. An estate car with four-level height adjustable suspension and quattro all-wheel-drive – A6 Allroad appeals to people that want a rugged car but for whom an SUV just doesn’t cut [...]
PROFESSIONAL SERVICES FIRM OF THE YEAR August 6, 2012 TODAY’s shortlists for the third annual City A.M. awards kick off with our nominations for professional services firm of the year. The UK and EU may be planning significant shake-ups to the industry, but the firms on our shortlist aren’t letting that worry them, continuing to win bluechip clients, pursue global expansion and pioneer employment [...]
ADVISERS GOLDMAN SACHS July 30, 2012 London Mining was advised on the royalty transaction by Goldman Sachs, while Standard Chartered was lead adviser on the debt finance component of the planned expansion of its Marampa mine. Goldman is no stranger to mining deals, and has a long pedigree of involvement in the sector, including its ongoing role advising Xstrata on its [...]
CITY MOVES | WHO’S SWITCHING JOBS July 26, 2012 Saxo Capital Markets UK Nick Beecroft has been appointed chairman of Saxo Bank’s UK online trading subsidiary. He has worked at the firm since 2009, most recently as senior markets analyst. Beecroft has over 30 years’ experience in international trading, and has also held roles at Standard Chartered and Deutsche Bank. Speechly Bircham James Trafford [...]
Safety still rules at unflashy Volvo July 24, 2012 The law of Jante is a Swedish idea that discourages individuality and showing off. Literally it means: “Don’t think you’re anyone special or that you’re better than us”. It’s a fascinating idea because it’s contrary to the concept of a premium car, which by its very nature means “I deserve the best”. This puts Volvo [...]
CAR TALK July 24, 2012 Vauxhall’s new urban-chic small car Vauxhall has released images of its new urban-chic small car which will be launched at this year’s Paris motor show in September. Called Adam, the three-door, four-seater has a distinctive two-tone “floating” roof and will be offered with a choice of three petrol engines with optional start/stop technology and a [...]
Commodities face a hard landing July 23, 2012 AS THE European economy shows no sign of pulling itself up by its own bootstraps, and with the US hardly faring any better, markets have been heavily dependent on Chinese demand to bolster commodity prices. But the predictions from a Chinese central bank adviser over the weekend did little to give markets confidence that the [...]