KKR enters the race for Rio and BHP diamonds April 15, 2012 US BUYOUT giant KKR has emerged as one of the frontrunners to snap up the diamond businesses put up for sale by mining giants BHP Billiton and Rio Tinto. The listed private equity house wants to create the world’s third-largest diamond miner to challenge De Beers and Alrosa. It is believed to be competing with [...]
American buyout giant’s gem plan could quickly lose sparkle April 15, 2012 KKR’s plan to merge the diamond operations of Rio Tinto and BHP Billiton might sound ambitious, but the deal loses its sparkle upon closer inspection. The market for the proverbial girl’s best friend is hot, about that there is no doubt. Demand is holding up even in mature markets while emerging countries are quickly falling [...]
Miners lead FTSE higher on hopes of strong economic growth in China April 12, 2012 BRITAIN’S top share index hit a one-week closing high yesterday as mining stocks jumped on market talk that China, the world’s biggest metals consumer, could report strong economic growth numbers today. Economists polled by Reuters in March forecast that China’s GDP expanded 8.3 per cent in the first quarter of 2012 versus a year earlier. [...]
FTSE steadied by banks and miners April 11, 2012 The FTSE 100 steadied this morning but fears over world growth and in particular the continuing Eurozone debt crisis cast a shadow over markets. Having fallen back to its weakest point this year the blue chip index was given a boost by miners and banks but the market was effectively flat. The sector had been [...]
Oligarch hits Glencore and Rusal with suit April 10, 2012 GLENCORE was dragged into a worsening dispute between two Russian oligarchs yesterday, as aluminium producer Rusal announced that its former chairman is to take legal action against the company and the commodities trader over a $47bn supply contract. Viktor Vekselberg quit as Rusal’s chairman three weeks ago and has since notified Glencore and his former [...]
All-new Swift Sport ups the fun April 10, 2012 Unless you’re of the age group that wore Frankie Says T-Shirts and espadrilles back in the 80s whilst tooling about in a Suzuki 4×4 with a Rhino logo on the tyre cover, then you’re more likely to associate the Suzuki brand name with motorcycles than motorcars. Although Suzuki has sold 6,000 Suzuki Swift Sports since [...]
US jobs blow dents markets April 10, 2012 The FTSE 100 tracked losses in Asia this morning as bleak US jobs data took its toll on investor sentiment with miners and banks hit. On Friday the US Labour Department reported that the number of unemployed workers was almost 13m and hiring slowed, raising the alarm over the state of the country’s economic recovery. [...]
Miners lift FTSE but UK factory figures cast shadow April 5, 2012 The FTSE 100 edged up this morning as miners were boosted by more positive data from China but a shadow was cast over the UK by bleak factory output figures. Investors were also eyeing the Bank of England’s interest rate decision at midday with rates expected to be frozen again with no more quantitative easing [...]
BHP faces fresh strike action at Oz coal mines April 4, 2012 AUSTRALIAN coal mines owned by BHP Billiton and Mitsubishi face a second seven-day strike after a third of the mines’ workforce rejected a BHP labour deal, union officials said yesterday. The mines, operated under the BHP Billiton-Mitsubishi Alliance joint venture, have a combined output capacity of more than 58m tonnes a year, representing about a [...]
Miners and banks dent FTSE April 4, 2012 The FTSE 100 was dragged back by weaker mining stocks after minutes from the US Federal Reserve’s March meeting revealed that it is not planning any more monetary stimulus. Federal Reserve policymakers have backed away from the need to pump more money into the system as the US economy gradually improves, minutes of the central [...]