Rio and Xstrata start Australian expansion after mining tax deal July 6, 2010 MINING giants have resumed expansion plans in Australia following a deal with the government over a new profits tax. Xstrata resumed A$186m (£104m) of exploratory work in Queensland yesterday, lifting a spending ban that stood during negotiations over the levy, which will now charge miners 30 per cent on some operations. The head of Rio [...]
Rio and Xstrata start Australian expansion after mining tax deal July 6, 2010 MINING giants have resumed expansion plans in Australia following a deal with the government over a new profits tax. Xstrata resumed A$186m (£104m) of exploratory work in Queensland yesterday, lifting a spending ban that stood during negotiations over the levy, which will now charge miners 30 per cent on some operations. The head of Rio [...]
Real men only apply July 6, 2010 For a while, a few years back, it looked like the US trend for vast trucks and pickups was going to catch on here. Stateside rappers wearing signet rings the size of dinner plates applied the same “bigger is better” approach to all of their purchases, and cars like the mahoosive Hummer were suddenly very [...]
Weak banks and miners hurt FTSE July 5, 2010 WEAK banks and miners, beset by doubts over the health of the global economic recovery, pulled down Britain’s top share yesterday, while BP rose on media reports it is seeking a strategic investor. By the close, the FTSE 100 index was down 14.56 points, or 0.3 per cent at 4,823.53, having ended 0.7 per cent [...]
European shares at a 6-week low July 5, 2010 EUROPEAN shares fell to their lowest close in nearly six weeks yesterday, with miners weaker on a gloomier economic outlook and volumes thin as Wall Street was closed for the Independence Day holiday. A rise for BP helped stem losses for major indexes. The pan-European FTSEurofirst 300 index of top shares fell 0.3 per cent [...]
Miners agree Australian tax July 1, 2010 THE AUSTRALIAN government has settled a long-running spat with mining firms over the introduction of a mining super-profits tax. Prime minister Julia Gillard announced this morning that profits on iron ore and coal mining in the country will be taxed at 30 per cent, down from the 40 per cent mooted by her predecessor Kevin [...]
European shares slide after weak China data July 1, 2010 European shares tumbled in early trade – retreating for the seventh time in eight sessions, after tepid Chinese macro data raised concerns about the global recovery. The FTSEurofirst 300 index of top European shares was down 1.2 percent at 981.94 points, while Euro STOXX 50, the euro zone’s blue chip index, fell 1.5 percent at [...]
European shares slide after weak China data July 1, 2010 European shares tumbled in early trade – retreating for the seventh time in eight sessions, after tepid Chinese macro data raised concerns about the global recovery. The FTSEurofirst 300 index of top European shares was down 1.2 percent at 981.94 points, while Euro STOXX 50, the euro zone’s blue chip index, fell 1.5 percent at [...]
Still no deal for miners on Aussie tax bill June 30, 2010 A SECOND day of intense negotiations has stopped short of producing a deal between mining companies and the new Australian administration for a resources super profit tax. The country’s new deputy Prime Minister Wayne Swan said he and finance minister Martin Ferguson were preparing to continue into a third day of talks with mining companies. [...]
China growth fears hammer mining shares June 29, 2010 SIX of the FTSE 100’s top ten fallers yesterday were mining companies as traders took fright from a sharp downwards revision to a leading economic index for China. Natural resources stocks and cyclical plays plunged as the US Conference Board moved its April indicator for the Asian powerhouse from 1.7 per cent to just 0.3 [...]