ENRC dodges governance questions as it reports an increase in half year profits August 17, 2011 EURASIAN Natural Resources Corp (ENRC) reported a surge in half year profits yesterday, but faced criticism after it gave little information regarding its corporate governance review that has been going on since June. The Kazakh miner reported a 33 per cent rise in pre-tax profits to $1.6bn on revenues that increased by 32 per cent [...]
US factory gate prices rose sharply in July August 17, 2011 Prices for core US manufactured goods in July rose at the fastest rate since January, new data shows. The US government’s index of farm and factory gate prices excluding food and energy rose by 0.4 per cent, the Labor Department said. The increase was double the expected 0.2 per cent rise. The core producer price [...]
Npower slaps its customers with big hike in energy bills August 16, 2011 UTILITY group npower is raising household energy bills by 12.2 per cent from October, putting increased pressure on consumer spending already dampened by the rising cost of living. The utility said the increases, which work out to 37p extra per day for dual-fuel customers, were due to volatile trading conditions in wholesale energy markets compounded [...]
Stepping into the property market of the new world order August 11, 2011 WITH debt and financial turmoil gripping the economies of Europe, North America and Japan, it’s not hard to look at the rise of India, China and Singapore and sense a coming shift in global power. Recent headlines have been staggering: last year, David Cameron led the largest British trade delegation to India in living memory, [...]
Rise in profits blows lid off Rexam shares August 3, 2011 EUROPE’S largest drinks can maker Rexam has beaten forecasts with a 19 per cent rise in first-half profit, helped by demand for energy and ice tea drinks and a growing trend among cash-strapped shoppers to consume at home. The UK firm, which makes Red Bull and PepsiCo cans as well as packaging for food, healthcare [...]
Xstrata profits surge by 30pc August 2, 2011 Xstrata came broadly in line with forecasts with a 30 per cent jump in first-half core profit and more than doubled its dividend, pointing to a stronger second half as its copper unit helps the miner recover from a flood-hit start to 2011. The fourth-largest UK-listed diversified miner – which last week unveiled production numbers [...]
Shell doubles its takings as it warns the end of low cost oil July 28, 2011 ROYAL Dutch Shell’s chief executive yesterday declared the end of low cost oil and gas, warning that companies were entering a world where finding hydrocarbons was going to be “more complex”. Peter Voser was speaking as the company revealed a 77 per cent rise in second quarter profits, fuelled by higher oil prices and the [...]
Centrica sees £1.3bn profit July 28, 2011 British Gas owner Centrica has seen operating profits of £1.3bn in the six months to 30 June. The figure was down 19 per cent on the same period last year. The results include a 54 per cent fall in operating profits at its residential energy division, British Gas, to £270m. Yesterday British Gas was fined [...]
More firms poised to raise fuel prices July 24, 2011 MORE than 12m customers, including households and small businesses, will next month see their gas and electricity bills increase by up to £200 a year. While half of the UK’s “Big Six” utility companies have now raised their fuel prices, the remaining three – Npower, EDF and E.ON – are expected to follow suit in [...]
US inflation pressure high and industry weak July 15, 2011 US consumer prices fell slightly more than expected in June on weak fuel costs, but underlying inflation pressures remain high, new data shows. The US consumer price index fell 0.2 per cent, the Labor Department has said, the largest drop since June 2010, after rising 0.2 per cent in May. Economists had expected prices to [...]