Russia’s Rusal cuts its capacity August 27, 2012 Russian group Rusal, the world’s largest aluminium producer, said yesterday that it would cut capacity three per cent by the year-end and was taking a charge on its investment in Africa, as it grapples with weak prices and rising power costs. Rusal, which produces nine per cent of the world’s primary aluminium, has been hurt [...]
Murray masters Bogomolov but admits to being below his best August 27, 2012 BRITISH No1 Andy Murray admitted he was unable to perform to his best during the 6-2, 6-4, 6-1 US Open first round victory over Alex Bogomolov Jr but was regardless satisfied with the result on a court he felt had slowed in the year since the last Grand Slam at Flushing Meadows. The Scotsman was [...]
Petropavlovsk rocked by 91pc drop in profits August 23, 2012 SHARES in London-listed Russian gold miner Petropavlovsk slumped 15.97 per cent in trading yesterday, as it posted a 91 per cent drop in profit for the first half of the year. Interest payments, depreciation and foreign exchange costs were behind the sharp profit slump to $11m (£6.93m), from $108.2m last year. Net debt ballooned to [...]
City Moves | Who’s switching Jobs August 20, 2012 Investor Relations Society The professional body for the investor relations profession has appointed John Gollifer as its new general manager. He succeeds Michael Mitchell, who retires at the end of 2012. Gollifer is a former head of investor relations for the Singapore Exchange, and was involved in establishing the Investor Relations Professionals Association in Singapore. [...]
FTSE 100 flat despite Lonmin losses August 20, 2012 Britain’s leading share index opened flat this morning, despite widening losses in mining shares, tracking a decline in the price of copper. Beleaguered platinum producer Lonmin continued another day of losses, with the shares down more than 3.5 per cent. The mining company today issued an ultimatum to the striking workers. Defence group Chemring was [...]
FTSE 100 flat despite Lonmin losses August 20, 2012 Britain’s leading share index opened flat this morning, despite widening losses in mining shares, tracking a decline in the price of copper. Beleaguered platinum producer Lonmin continued another day of losses, with the shares down more than 3.5 per cent. The mining company today issued an ultimatum to the striking workers. Defence group Chemring was [...]
Assange berates US from Ecuador Embassy August 20, 2012 WikiLeaks founder Julian Assange berated the US last night from the balcony of the Ecuadorean Embassy where he has sought refuge from arrest, demanding President Barack Obama end what he called a witch-hunt against his whistle-blowing website. Speaking from within the London mission to avoid being detained by British police who want to extradite him [...]
Latvian police closer to solving riddle of City A.M. shareholder August 19, 2012 LATVIAN police are reported to have found a dead body they believe to be that of Leonid Rozhetskin, a shareholder and board member of City A.M., who has been missing since April 2008. Rozhetskin, a Russian-born lawyer living in the US, was a prominent investor in telecoms group MegaFon and served as executive vice chairman [...]
Facebook sinks to record low as early investor shares unlocked August 16, 2012 FACEBOOK shares plunged to a new low yesterday as early investors were able to sell their stock for the first time after the lock-up period in force since May’s initial public offering (IPO) came to an end. The stock fell as much as seven per cent to a low of $19.69 – less than half [...]
E.ON first-half profits triple August 13, 2012 E.ON, Germany’s biggest energy company, has seen its profits triple in the first half of 2012. Net income for the six months to the end of June was €3.3bn (£2.1bn), up from €900m a year ago. E.ON cited Germany’s accelerated phase-out of nuclear energy, which benefited first-half earnings to the tune of €1.5bn, and a [...]