What the other papers say this morning – 22 October 2013 October 21, 2013 FINANCIAL TIMES Bundesbank warns on apartments The Bundesbank has warned that apartment prices in Germany’s biggest cities could be overvalued by as much as 20 per cent, stepping up its concern about a real estate boom there. Obama admits botched health launch Barack Obama, who forged his political career by harnessing the power of the [...]
Infinis to lure investors with £55m payout October 21, 2013 INFINIS Energy, the UK’s biggest independent wind power generator, yesterday unveiled plans to pay a healthy £55m maiden dividend to investors as part of its stock market flotation plans. The business, which is owned by Guy Hands’ private equity firm Terra Firma, is floating a third of the business on the London market next month [...]
Public offered a ride on theme park flotation October 21, 2013 ALTON Towers owner Merlin Entertainments yesterday said members of the public will have the chance to become shareholders in the company when it floats in London next month, with a minimum investment of just £1,000. The business, which also owns Madame Tussauds and Legoland, plans to raise £200m in an initial public offering of shares. [...]
Chinese companies square up in Glencore Xstrata mine sale October 10, 2013 Two rival Chinese miners, Chinalco and Minmetals, have made it onto a shortlist to buy Glencore Xstrata's $5.9bn (£3.7bn) Peruvian copper mine, Las Bambas, say Reuters' sources. The mines are two of four Chinese groups who made initial bids for the mine, and lead a series of interested groups. Las Bambas is being sold by [...]
Women land a quarter of new directorships October 6, 2013 WOMEN are taking a quarter of new appointments to the boards of FTSE 100 companies, according to figures released today by a group pushing for greater equality at the top of public companies. All but six firms at the top level of British business now have a women on their board. Campaigners said business is [...]
Hochschild Mining plans to buy remaining Peru assets for £172m October 2, 2013 FTSE 250-listed Hochschild Mining said yesterday it plans to raise up to $96m (£59m) through an equity placing to help it buy the remaining 40 per cent stakes in its Peruvian assets for $280m. The Latin America-focused precious metals miner said it has agreed to buy the 40 per cent stakes held by International Mineral [...]
Davis returns to haunt Glencore with $3bn miner October 1, 2013 FORMER Xstrata chief executive Mick Davis reinforced his comeback into the mining sector yesterday, with the announcement that his new mining venture has raised $1bn (£618m). Private equity firm TPG and commodities trading house Noble have invested $500m each in X2 Resources, which aims “to create a new mid-tier diversified mining and metals group by…identifying [...]
Davis returns to haunt Glencore with $3bn miner September 30, 2013 FORMER Xstrata chief executive Mick Davis reinforced his comeback into the mining sector yesterday, with the announcement that his new mining venture has raised $1bn (£618m). Private equity firm TPG and commodities trading house Noble have invested $500m each in X2 Resources, which aims “to create a new mid-tier diversified mining and metals group by…identifying [...]
Bottom Line: Mick the miner is ready to build September 30, 2013 IT MAY share its name with both a superhero movie sequel and a low-cost Nokia phone, but there’s only one thing that Mick Davis’ new venture looks like – Xstrata. The former chief executive of the resources group, pushed out of the top job as part of a revised deal with merger partner Glencore earlier this [...]
London Report: FTSE is knocked by jitters in US, China and Italy September 30, 2013 BRITAIN’S top share index fell yesterday, with miners hit by weak data from top metals consumer China and with political jitters in Italy and the United States hurting broad investor sentiment. Fresnillo and Glencore Xstrata lost over two per cent after Chinese data unexpectedly pointed to a near-stagnation of private sector factory activity. Yesterday’s market [...]