Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
FTSE closes higher after Bank of England keeps rates unchanged October 8, 2015 Britain's blue-chip index closed up 0.6 per cent to 6,374.82 points today, after the Bank of England (BoE) voted 8-1 in favour of holding interest rates at a record low 0.5 per cent. The Bank's monetary policy committee – which is charged with setting interest rates – pushed back its forecast for when inflation will return to [...]
FTSE 100 closes at its highest level in six weeks as Glencore share price soars October 5, 2015 Britain's blue chip index closed up 2.8 per cent to 6,298.92 points today, its highest level since August 20, led by gains from commodities giant Glencore. Speculation had swirled over whether the Swiss miner would sell some assets to cut its debt, or even consider agreeing to a takeover. Shares in the company closed up 21.05 [...]
BHP Billiton: Our earnings will double in the next 15 years, no matter what climate change measures are put in place September 29, 2015 BHP Billiton is optimistic about the future, no matter what climate change prevention strategies governments put in place over the next 15 years. In its climate change portfolio analysis released today, the coal mining company, which is the world's largest by market capitalisation, said it expects its gross earnings to double by 2030 under all [...]
FTSE slumps as miners plumb China depths – London Report September 29, 2015 BRITAIN’S leading share index fell yesterday as fears grew over mining group Glencore’s ability to withstand a metals price slump and as Vodafone’s European tie-up talks with Liberty Global ended. The FTSE 100 index was down 2.5 per cent, at 5,958.86 points at its close, a touch lower than European indexes. The UK market is [...]
Glencore earnings beat estimates as it shoulders commodities rout September 28, 2015 The figures Switzerland-based Glencore said attributable net income fell seven per cent to $4.3bn (£2.7bn), down from $4.6bn a year earlier. This beat expectations as analysts had forecast $4.1bn. Meanwhile, net debt rose to $30.5bn. It set aside $1.1 billion of impairment charges for crumbling commodity prices. The company has also recommended a final cash [...]
Male, pale, stale – and called Andrew: This is what the average UK boss is like September 28, 2015 The average UK boss is a 54 year-old white man named Andrew. In fact, if you’re a boss at a top UK company, you’re more likely to be called Andrew than be a woman, a new survey from manufacturer Stormline has found. The company crunched the numbers to find the average age, gender and education [...]
FTSE ends lower as commodities plunge again – London Report September 25, 2015 BRITAIN’S blue-chip share index fell yesterday, with basic resources and energy companies coming under fresh selling pressure due to lingering concerns about demand for metals and a poor outlook for commodity prices. The FTSE 100 index ended 1.2 per cent lower at 5,962.26 points. The index has fallen more than eight per cent so far [...]
Mining giant BHP Billiton share price jumps after dividend changes proposed to ensure payout to British investors September 24, 2015 Anglo-Australian mining giant BHP Billiton's share price climbed this morning, after revealing changes to its dividend funding policy to ensure British shareholders' dividends are paid out. The company is planning to change which funds are transferred between the Australian-listed company to the UK's plc arm, allowing it to meet its dividend requirements to its British [...]
Former Anglo American and BHP Billiton chiefs Cynthia Carroll and Marius Kloppers move on to new positions September 16, 2015 Two former chief executives who presided over mining giants during the financial crisis have moved on to pastures new. Cynthia Carroll, who was chief executive of Anglo American from 2007 to 2013, has been hired as an adviser at Indian mining conglomerate Vedanta Resources. “Having known Cynthia for many years, I look forward [...]
Chinese woes take toll on miners as FTSE slumps 3pc – London Report September 2, 2015 THE FTSE 100 yesterday slumped three per cent, its worst one-day fall in over a week, with miners hit hardest after a slump in the manufacturing sector in China – the world’s biggest commodity consumer. The blue chip index closed down 189.40 points, or three per cent, to 6,058.54. China’s Purchasing Managers’ Index (PMI) fell [...]