Eurozone fears pull down FTSE to one-year low – London Report October 9, 2014 THE FTSE 100 yesterday hit its lowest level for a year after early gains fell away in a broad-based sell-off as investors became anxious about signs of serious weakening in the Eurozone economy. The blue-chip index, which hit 6,544 points in morning trading, due mainly to a rise in mining shares, ended the day down [...]
London Report: FTSE is bolstered by doveish Bank data and thin trading August 13, 2014 THE FTSE yesterday ended slightly higher in thin trade, boosted by a doveish message from the Bank of England. Britain’s leading index closed 24.26 points higher, or 0.4 per cent, at 6,656.68 points after a choppy session marked by low trading activity. Shares in G4S, the world’s biggest security company, led advances, up 5.3 per [...]
FTSE 100 to be free of all-male boards by the end of 2014 May 20, 2014 Responding to shareholder pressure at its annual general meeting today, Glencore Xstrata chairman Tony Hayward has pledged to appoint a female director to its board by the end of the year. In March this year, the 2014 Cranfield Female FTSE board report found that two FTSE 100 companies still had all-male boards: miners Antofagasta and [...]
Inside Track: Tesco’s boss is out on a limb with a limp recovery plan June 4, 2014 PHILIP Clarke is beginning to sound like the corporate equivalent of Alastair Cook at the end of England’s disastrous Ashes defence. On yesterday’s conference call to discuss Tesco’s worst like-for-like sales performance in roughly 20 years, his insistence that his strategy is working sounded faintly ridiculous. “We are more competitive now than we have been [...]
Chile blocks Glencore Xstrata dam October 28, 2013 A Chilean appeals court has preventively blocked a recently approved $733m hydroelectric dam to weigh an environmental appeal, a surprise setback for owners Origin Energy and Glencore Xstrata. Opponents of the 640-megawatt Rio Cuervo project planned in the remote southern Aysen region say it would harm the environment and would be built above a geological [...]
Linklaters’ profits rise to £557.3m July 7, 2014 Law firm Linklaters saw its pre-tax profits increase in the latest financial year, up by 6.8 per cent to £557.3m. The group’s income rose to £1.255bn in the year to the end of April, a rise of five per cent on last year’s figures, which were particularly strong, following the Magic Circle firm’s assistance of [...]
Glencore posts 23pc increase in copper output October 31, 2013 GLENCORE Xstrata said yesterday that third-quarter copper production had soared by 23 per cent and that profits for its trading arm are broadly in line with expectations. The mining and trading group, which completed a long-awaited merger earlier this year, said that there had been strong growth at the Collahuasi mine, which rose 43 per [...]
Laying down the law on M&A and sell offs September 22, 2014 LAW FIRM of the year The past year has seen law firms work with the government and banks on the selling of shares and on the investigations into alleged failings at big companies. Against that backdrop lawyers have also started to benefit from the upturn in the M&A and financing markets, beefing up their private [...]
London Report: Putin’s Crimea comments help to calm FTSE August 14, 2014 THE FTSE yesterday rose after being bolstered by apparently conciliatory comments from Russian President Vladimir Putin on a visit to Crimea, as well as expectations for a continuation of ultra-loose monetary policy. On a trip to Crimea, the Ukrainian region annexed by Russia in March, Putin said his country would stand up for itself but [...]
Chinese companies square up in Glencore Xstrata mine sale October 10, 2013 Two rival Chinese miners, Chinalco and Minmetals, have made it onto a shortlist to buy Glencore Xstrata's $5.9bn (£3.7bn) Peruvian copper mine, Las Bambas, say Reuters' sources. The mines are two of four Chinese groups who made initial bids for the mine, and lead a series of interested groups. Las Bambas is being sold by [...]