THE TIPSTER November 22, 2010 TRADERS on Wall Street will have one eye on the forthcoming Thanksgiving holiday weekend because we’ve already seen a degree of risk mitigation in recent days. However with so much uncertainty right now it seems unlikely that the buyers will come back with any real conviction. No one wants to get caught on the wrong [...]
BEST OF THE BROKERS November 22, 2010 XSTRATA Standard & Poor’s has initiated coverage on the miner with a “buy” recommendation and a 12 month target price of £15.00. The broker expects group earnings to hit record levels in 2011, due to both through a £14bn capital expenditure programme that will increase volumes, and through rising prices of copper and thermal coal. [...]
BHP has no regrets as vows to continue the takeover hunt November 16, 2010 GLOBAL miner BHP Billiton is still interested in big acquisitions and does not regret spending $875m pursuing three major deals that collapsed in the past two years, its chairman said yesterday. “For me, the juice is worth the squeeze on every one of those,” Jac Nasser said after BHP’s annual shareholders meeting in the Australian [...]
US retail figures support FTSE gains led by banking and commodity stocks November 15, 2010 A rise in commodity shares and banks hauled the leading share index higher yesterday, with better than expected US retail sales numbers also helping, providing a boost to global recovery hopes. At the close the FTSE 100 was up 23.54 points, or 0.4 per cent at 5,820.41, nearer the session peak of 5,832.88 than the [...]
BHP moves on from Potash takeover bid November 15, 2010 MINING giant BHP Billiton’s shares rose yesterday following its decision to abandon its hostile takeover of Potash Corp and begin a $4.2bn (£2.6bn) share buyback, as analysts pored over the world’s largest mining group’s next move. BHP’s London-listed shares closed 1.8 per cent up at £24.06, outperforming a 0.4 per cent gain in the FTSE [...]
BHP Billiton November 15, 2010 IT is the twelve billion dollar question: how do you spend your massive cash pile when every bid you make goes wrong? BHP Billiton blew $350m (£218m) of fees on its failed pursuit of Potash, having already spent some $75m on its aborted iron ore joint venture with Rio Tinto. Once bitten but twice shy, [...]
BHP Billiton pursuit of Potash over November 14, 2010 GLOBAL mining giant BHP Billiton last night killed off its protracted $39bn (£24bn) pursuit of Potash, the world’s biggest deal this year, and said it would return $4.2bn (£2.6bn) to investors through a share buyback. The move comes after Canada blocked BHP’s bid for the world’s largest fertiliser maker on 3 November and gave BHP [...]
BHP Billiton pursuit of Potash over November 14, 2010 GLOBAL mining giant BHP Billiton last night killed off its protracted $39bn (£24bn) pursuit of Potash, the world’s biggest deal this year, and said it would return $4.2bn (£2.6bn) to investors through a share buyback. The move comes after Canada blocked BHP’s bid for the world’s largest fertiliser maker on 3 November and gave BHP [...]
BHP under heat to return cash November 11, 2010 ANGLO–AUSTRALIAN miner BHP Billiton’s boss is likely to face calls on Tuesday for a massive share buyback when he confronts shareholders in Australia after his third straight failure to pull off a major acquisition. Chief executive Marius Kloppers’ latest deal, a $39bn bid for Potash Corp, appears headed for the scrap heap, after Canada all [...]
CAR TALK November 9, 2010 BMW VISION EFFICIENTDYNAMICS FOUR-SEATER BMW has announced it is to put its stunning Vision EfficientDynamics four-seater sports car concept into production. Powered by a diesel/electric hybrid system, the 328bhp coupé will be capable of 0-62mph in 4.8 seconds and of reaching 155mph when it goes into production in 2013. Average fuel consumption should be just [...]