THE WEEK AHEAD in association with GFT August 21, 2011 COMPANY NEWS ● Petrofac posts its interim results today. With oil prices dropping from their recent highs coupled with a market slump, oil companies have taken a bit of a knock of late, with their interim reports reflecting this downturn. Petrofac will be hoping that its results buck this trend. ● Another energy industry player, [...]
Miners eye Colombia growth August 18, 2011 ANGLO American, Xstrata and BHP Billiton have approved a $1.3bn (£789m) expansion of the Cerrejon mine, home to one of the world’s largest coal deposits, in Colombia. The diversified miners said yesterday they would invest equal amounts in the project that will increase production and export capacity by 8m tonnes per annum (mtpa) to 40 [...]
Global growth fears drain confidence from markets August 18, 2011 Renewed fears over spluttering global economic growth dragged back world markets with commodity and financial stocks suffering in the increasingly bleak climate. Morgan Stanley cut its forecast for global growth, citing “recent policy errors” in the US and Europe, plus prospects of further fiscal tightening in 2012. MSCI’s world equity index fell 0.8 per cent [...]
Anglo American, Xstrata and BHP agree mine expansion August 18, 2011 Anglo American, Xstrata and BHP Billiton have approved a $1.3bn (£787m) expansion of the Cerrejon mine, home to one of the world’s largest coal deposits, in Colombia. The diversified miners said they would invest equal amounts in the project that will increase production and export capacity by 8 million tonnes per annum (mtpa) to 40 [...]
Eco-warrior pipe dream gets real August 16, 2011 LEONARDO DiCaprio has one. In fact, diCaprio has the first production Fisker Karma plug-in hybrid sports car ever built. And he paid for it. That one of the world’s biggest film stars is driving the world’s most eco-friendly sports car is perhaps not so surprising. But the man that built it is car designer Henrik [...]
Evoquative: the ultimate all-rounder August 9, 2011 ITS heart may be in the country, but Range Rover – for so long the preferred transport of the country set and most naturally at home on rural lanes – has a new sibling, and despite being created for city living, the new Evoque is the greenest Range Rover yet. Available as a three-door coupé [...]
FTSE takes a battering on recovery fears August 3, 2011 Energy companies took a hammering in London today as a renewed investor focus on global economic fragility saw a flight to safety across Europe. The FTSE 100 retreated more than 133 points or 2.3 per cent to close at 5,584.51, levels not seen since November 2010, after confidence in sovereign debt fell again and investors [...]
Beauty’s in the i of the beholder August 2, 2011 LAST week BMW flew hundreds of journalists from around the world into Frankfurt to show them the future of motoring, as illustrated by its new sub-brand ‘i’. And the future looks pretty impressive if the near-production cars BMW revealed are anything to go by. The German manufacturer showed the first two of its ‘i’ branded [...]
Cooper drops takeover bid for rival Laird August 1, 2011 LAIRD shares plunged 15 per cent yesterday after Cooper Industries announced it was withdrawing its bid for the electronics components firm, saying it is unwilling to proceed at Laird’s asking price. Cooper Industries’ two-month battle to take over the smaller British rival came to a deadlock this weekend after the two companies were unable to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 28, 2011 FINANCIAL TIMES BHP BILLITON DIGS IN AGAINST STRIKING MINERS BHP Billiton has declared force majeure on exports from the world’s biggest copper mine, as a mineworkers’ strike entered its eighth day. The strike at BHP’s Escondida mine in Chile, which supplied 7 per cent of the world’s copper last year, comes in a month of [...]