What the other papers say this morning – 25 July 2013 July 24, 2013 FINANCIAL TIMES Osborne accused of bowing to City The UK chancellor was yesterday accused of bowing to City pressure and watering down key provisions to make Britain’s banks safer, as the Banking Reform bill began its passage through the House of Lords. Lord Lawson, the Tory former chancellor, said the Treasury was guilty of an [...]
Kazakhmys sells £790m stake in power station as mine costs rise December 9, 2013 FTSE 250-listed copper miner Kazakhmys yesterday said it has agreed to sell its 50 per cent stake in Kazakhstan’s largest power station for $1.3bn (£790m), as it warned that development of its Bozshakol mine would cost more than expected. The firm also said yesterday that it has hired Shenzhen-listed Non Ferrous China as a second [...]
Rio Tinto to suspend alumina production at Gove refinery November 29, 2013 Mining giant Rio Tinto has said this morning that it is to suspend production at its Gove alumina refinery, as the current market environment means it's no longer a viable business. The news comes a day after the firm led the FTSE, having announced that it's to save $3bn on its iron ore ramp up. [...]
Ukraine conflict adds to perfect storm for international markets March 3, 2014 And investors should expect rising levels of geopolitical risk Market risk sentiment quickly unraveled yesterday, as investors reacted to what has been termed the biggest threat to European security this century. As Russian troops massed in Crimea, stocks in Moscow’s MICEX index crashed by around 9 per cent on the open (see graph), with the [...]
A recovery built on bricks and mortar January 12, 2014 Bovis chief executive David Ritchie tells Elizabeth Fournier why he’s not concerned about a new UK housing bubble THE LAST 12 months have been good ones for Britain’s housebuilders. After a financial crisis that saw billions wiped off the sector as credit dried up and house prices crashed, 2013 saw a return to form as [...]
Blue chip firms rein in bonus payments for top executives September 17, 2013 THE AVERAGE bonus for a FTSE 100 chief executive is seven per cent lower than it was a year ago, according to new data from PwC. The research showed that FTSE 100 chief executives received a median bonus payout of £905,000 in 2013, a seven per cent fall from 2012. Bosses received around two thirds [...]
Plane and car growth boost profits at GKN October 22, 2013 CAR AND plane parts maker GKN posted a 34 per cent rise in third quarter profit as strong growth at its automotive and commercial aerospace units made up for sluggish demand in military and industrial markets. The FTSE 100 firm yesterday reported a pre-tax profit of £131m in the three months to the end of [...]
What you need to know before the open – 31/10 October 31, 2013 The Fed's decision last night to stick with its current stimulus level wasn't a big surprise, given the probable damage caused by shutdown. US markets were dragged down, however, on the absence of discussion on shutdown, tight credit conditions and high interest rates. Asian markets were cooled by the news, too, with Seoul shares edging [...]
Before the open – 20/08 August 20, 2013 The UK's leading FTSE index is expected to open lower this morning as US equities see their first four day losing streak of 2013. The losses saw Asian markets down overnight with the Nikkei closing down 2.63 per cent. ETX Capital #morningcall: FTSE100 down 33 points, the DAX lower by 37 points and the CAC40 [...]
London Report: FTSE slumps to a three-month low on US fears October 2, 2013 THE UK’S top share index slipped to a three-month low yesterday, with retailers bruised by a weak trading update from Tesco while broader sentiment was weighed down by concerns over a US government shutdown. The FTSE 100 index fell as low as 6,386.18 points, its lowest since July, as investors fretted about the continued partial [...]