FTSE 100 bounces back after a strong performance from the financial sector October 18, 2010 Britain’s top shares rebounded yesterday after falls in the past two sessions, boosted by oils and banks, with better-than-expected results from Citigroup and hopes of more US economic stimulus improving sentiment. The FTSE 100 index ended 39.15 points, or 0.7 per cent, higher at 5,742.52 after falling last Thursday and Friday. The index is up [...]
THE TIPSTER October 18, 2010 HOME Retail Group has seen its share price underperforming the market and its sector this year: the share price is down a whopping 30 per cent year-to-date. Wednesday’s interims, however, should provide us with some good news and investors might look favourably on the stock as the Christmas period approaches. Capital CFDs quotes 219.2p-219.9p. Euro-dollar [...]
BHP Billiton and Rio Tinto ditch joint venture October 18, 2010 BHP Billiton and Rio Tinto scrapped their proposed $116bn (£72.6bn) iron-ore joint venture as expected, caving in to opposition from regulators, steelmakers and major investors 16 months after unveiling the plan. The collapse of the deal marks top global miner BHP’s second failed attempt to grab a piece of Rio Tinto’s superior iron ore assets [...]
Crunch time for BHP and Rio venture October 17, 2010 BHP BILLITON and Rio Tinto’s $116bn (£72bn) iron ore joint venture is hanging by a thread after the European Commission has told the companies it will object to the deal. The EU’s competition commissioner Joaquin Almunia is preparing to send a list of objections to Rio and BHP this week, which will ask the world’s [...]
Coal India set for £2bn float October 17, 2010 THE INDIAN government is due to open the country’s largest ever initial public offering (IPO) today, in which it hopes to raise 150bn rupees (£2.1bn) by selling a 10 per cent stake of state-owned Coal India. The company is the largest coal miner in the world, producing 80 per cent of India’s coal in 471 [...]
Sinochem abandons Potash bid October 15, 2010 CHINA’S Sinochem Corp has abandoned efforts to make a rival offer for Potash Corp as part of plans to spoil BHP Billiton’s $39bn (£24.35bn) bid for the Canadian fertilizer maker, sources told Reuters. The Chinese state-owned chemicals group was not expected to formalise its decision but three sources said it had given up on efforts [...]
Global regulators set to stop Rio and BHP venture October 14, 2010 BHP BILLITON and Rio Tinto’s $116bn (£72bn) joint venture in Australia hit another serious stumbling block yesterday when regulators in Germany and Japan moved to block the deal. The German federal cartel office said yesterday it intends to formally object to the venture next week, and the Japanese fair trade body said it was concerned [...]
Global regulators set to stop Rio and BHP venture October 14, 2010 BHP BILLITON and Rio Tinto’s $116bn (£72bn) joint venture in Australia hit another serious stumbling block yesterday when regulators in Germany and Japan moved to block the deal. The German federal cartel office said yesterday it intends to formally object to the venture next week, and the Japanese fair trade body said it was concerned [...]
BHP and Rio go to EU for tie-up BHP October 12, 2010 Billiton and Rio Tinto will meet EU antitrust regulators by the end of this month to help the European Commission decide whether to clear their proposed joint venture, sources said yesterday. The Commission is examining the miners’ planned $116bn (£73.54bn) iron ore production joint venture in western Australia to determine whether it is anti-competitive. Rio [...]
Eco-dazzle at Paris Motor Show October 12, 2010 Two key trends revealed themselves at this year’s Paris Motor Show. First, while the carmakers have showed eco concepts for years, this year was the first Paris Show where so many production versions of hybrid and electric cars were launched. Second, the sports and supercar brands proved that they too have a place in this [...]