FTSE 100 miner Vedanta Resources merges Indian branches June 14, 2015 Vedanta Resources, the FTSE 100 Indian resources company, is undertaking more work to simplify its structure, confirming plans to merge its Indian subsidiaries, Mumbai-listed Vedanta Limited and Cairn India. Cairn India minority shareholders will receive one equity share in Vedanta Ltd, as well as one 7.5 per cent preference share with a face value [...]
Post-vote bump fades but Royal Mail delivers – London Report May 11, 2015 LAST week’s relief rally from the unexpectedly strong Conservative General Election victory petered out to leave the FTSE 100 relatively flat by yesterday’s close. The trading day was dominated by central-bank decisions, with the Bank of England keeping interest rates on hold at 0.5 per cent and a cut in Chinese interest rates supporting commodities [...]
GlaxoSmithKline culls £17bn HIV drugs float as outlook improves May 6, 2015 PHARMA giant GlaxoSmithKline (GSK) yesterday abandoned plans for a float of its HIV medicines division. In first quarter results published today, the company said its decision to hang on to ViiV Healthcare reflected an “updated strong positive outlook”. Analysts at Jefferies have said ViiV could be valued at as much as £17bn on the public [...]
ViiV Healthcare: GSK share price rises as it scraps plans for £17bn HIV drugs spin-off which would have been one of the biggest IPOs this decade May 6, 2015 Pharma giant GSK (aka GlaxoSmithKline) has abandoned plans for an IPO of its HIV medicines division, it said today. In first quarter results published today, the company said its decision to hang on to ViiV Healthcare reflected an "updated strong positive outlook". Analysts at Jefferies have said ViiV could be valued at as much as [...]
Glencore posts disappointing output figures May 5, 2015 SHARES in mining firm Glencore edged up by 0.54 per cent yesterday, despite a production report for the first quarter that analysts described as “mixed” at best and “disappointing” elsewhere. Production of its top earner, copper, was down nine per cent due to lower grades at two South American mines. Copper output was 350,700 tonnes [...]
Rio Tinto April 20, 2015 The figures xxx Why it's interesting The FTSE giant was the target of a failed takeover bid by rival Glencore and with the six month cooling period for offers having just come to an end, investors will be eager to see what kind of shape the miner is in with speculation that a new offer [...]
City Moves for 20 April 2015 | Who’s switching jobs April 19, 2015 Colliers International Mark Phillips has been appointed director within the commercial real estate firm’s hotel and resorts consulting team. He has 25 years’ experience in the sector, and was previously a director at HLT Consulting. Phillips has also held roles at Horwath UK and Horwath & Horwath. JP Morgan Asset Management Gilles Drukier has been [...]
Global activist groups gather to protest Rio Tinto investor event April 16, 2015 MINING group Rio Tinto held its annual meeting yesterday against a backdrop of protests against its environmental record. Representatives from global workers’ unions, including Unite and IndustriALL, as well as the London Mining Network, gathered in London to draw attention to the firm’s transgressions. IndustriALL’s Kemal Ozkan said: “The company systematically fails on environmental, social [...]
General Election 2015: A Labour government could send Royal Mail boss Moya Greene elsewhere April 15, 2015 She might hail from Canada, but I’d bet that Moya Greene will be keeping a closer eye than many Britons on the outcome of the General Election. Eighteen months after its contentious privatisation, the boss of Royal Mail may face the prospect of a full parliamentary term with UK government ministers behaving as an irritatingly [...]
Miner Glencore free to bid for rival Rio again April 7, 2015 Mining firms Glencore and Rio Tinto declined to comment yesterday on the question of whether a deal between the two could be back on the table. Switzerland-based Glencore originally made an estimated £60bn offer for its larger British-Australian rival last August, but in October Rio Tinto revealed that it had rejected the bid. [...]