America’s energy renaissance will transform China as well November 12, 2012 SOMETHING extraordinary is happening to the global economy, with huge implications for geopolitics and international flows of trade and capital. The United States has engineered an energy renaissance: while it currently imports 20 per cent of its total energy consumption, much of it from the Middle East, America will become roughly self-sufficient in net terms [...]
Entertainment One investment hits profit in breakthrough year November 12, 2012 INDEPENDENT film studio Entertainment One has ploughed more money into movie production and promotion ahead of the release of its latest lucrative Twilight movie and its acquisition of Alliance Films. The investments pushed the Canadian company’s profits down to just £1m in the first half of the financial year, it said yesterday. This was down [...]
What the other papers say this morning November 6, 2012 FINANCIAL TIMES BHP begins hunt for new chief BHP Billiton has quietly started looking for a successor to Marius Kloppers, chief executive, in what could herald a further shake-up in the leadership of the global mining industry following a five-year period of stability. JPMorgan in talks over SEC claims JPMorgan Chase is in advanced settlement [...]
Blankfein ends sandbag saga November 5, 2012 GOLDMAN Sachs boss Lloyd Blankfein may be no stranger to popular criticism, but decided enough was enough after his firm’s robust rebuffing of hurricane Sandy attracted scorn. With the bank’s New York building sandbagged to high heavens and basking in the glow of its generator-fuelled lights last week, Blankfein took some stick on Twitter. “The [...]
Miners on shaky ground despite stabilising backdrop October 30, 2012 WITH the US markets firmly shut for a second day, investors had no choice yesterday but to focus on corporate events closer to home. Luckily the FTSE’s resources stocks more than made up for the lack of American action, with market watchers gripped yesterday by the unfolding tale of two miners. First up, Lonmin finally [...]
The Tipster | Builder to cement profits October 15, 2012 HOUSE builder Bellway reports today, and traders expect to see profits up as it capitalises on a turnaround in UK housing. The company has focused heavily on homes with renewable energy sources, which has proven to be lucrative. Shares are towards the top of its 52-week range and have risen 40 per cent in the [...]
Fresh delay in stadium saga October 15, 2012 A DECISION on the future of the Olympic Stadium has been postponed, prompting fears that its planned reopening in 2014 could also be delayed. David Gold, chairman of West Ham, who are favourites to be made anchor tenants, wrote on Twitter last night: “Sadly the decision on the OS has been postponed. We must be [...]
England and South Africa bury hatchet – almost – over KP row October 15, 2012 ENGLAND cricket officials have attempted to draw a line under their spat with South Africa over the Kevin Pietersen text message saga, but admit some differences remain unresolved. South Africa chiefs were infuriated when David Collier, chief executive of the England and Wales Cricket Board (ECB), earlier this month accused Proteas players of deliberately provoking [...]
Web game firm King.com lifted by Facebook October 8, 2012 BRITISH Facebook game developer King.com said yesterday it had seen “high double-digit growth” this year and that it has not been plagued by the same problems that have hit US rival Zynga in recent months. King.com, which has become Facebook’s second biggest game developer by users, has seen sales explode in the last year, chief [...]
Old Lady holds fire on policy as QE continues October 4, 2012 THE BANK of England’s rate-setting committee decided yesterday to hold off on new policy measures in October, with the Bank making the last of the £50bn purchases announced in July over the month. Analysts across the board had described the decision as a “non-event”, expecting, correctly, that the Bank would “sit on its hands”, and [...]