November 10, 2014 2:03 pm
Lonmin PLCs CEO said the company does not need to raise additional funds this year as it reported a 37% decline in revenue, a result of a five-month strike. “We see no need at this juncture, given what we know, we have sufficient bank facilities” CEO Ben Magara said on a conference call, pointing towards […]
Read moreNovember 10, 2014 11:46 am
Serco Group PLC reduced its full-year profit target as it announced a £550-million rights issue and identified £1.5 billion of likely impairments and charges. The company, which provides outsource services to governments such as managing the custody of prisoners, said in an unscheduled announcement that it now expects full-year operating profit to be between £130 […]
Read moreNovember 10, 2014 9:52 am
Natural gas continued its rise and reached a new high as forecasts warned about sub-freezing temperatures in the north-central US and colder-than-normal weather across the majority of the country. On the New York Mercantile Exchange, natural gas for delivery in December gained 2.38% to $4.517 per million British thermal units by 9:22 GMT. Prices ranged […]
Read moreNovember 10, 2014 8:32 am
Gold remains under a key technical level after a strong increase on Friday as U.S. non-farm payrolls came in weaker than expected. Comex gold for delivery in December traded at $1 170.9 per troy ounce at 7:27 GMT, up 0.09% on the day. On Friday the precious metal fell to $1 130.4, its lowest since […]
Read moreNovember 9, 2014 6:33 am
The largest steel producer by shipments in the world – ArcelorMittal reported a second straight quarter of profit. The result is believed to be due to a considerably better performance of the companys steel business, which helped ArcelorMittal neutralize the negative influence of falling iron ore prices. Apart from reporting quarterly results, the company reaffirmed […]
Read moreNovember 8, 2014 7:06 am
Compagnie Financiere Richemont, the worlds biggest jewelry maker, reported a fall in first-half earnings due to stagnant Asian demand for luxury goods. The Geneva-based company, owner of the Cartier and Piaget brands, reported a better-than-expected 2% increase in revenue to €5.43 billion in the six months ended September 30th, surpassing analysts expectations of €5.39 billion. […]
Read moreNovember 7, 2014 11:11 am
Allianz SE, the worlds largest insurer, increased its dividend payouts as third-quarter results overtook analysts expectations despite outflows from its Pacific Investment Management Co. unit. The Munich-based company reported a 14.5% increase in revenue for the third quarter to €28.78 billion versus last years result of €25.15 billion. Operating profit rose 5.2% to €2.65 billion […]
Read moreNovember 7, 2014 9:55 am
Adidas AG reported on Thursday that its profit over the third quarter of the fiscal year surpassed analysts forecasts. The results come as a relief for the companys Chief Executive Officer Mr. Herbert Hainer, backing his efforts to turn the Germany-based sporting-goods maker around. Mr. Hainer said in a press call: “While certain factors have […]
Read moreNovember 7, 2014 9:38 am
Natural gas was set for a sizable weekly gain following a new high four-month high on Thursday amid expectations of cold weather over the Midwest and interior Northeast that will drive higher heating demand. On the New York Mercantile Exchange, natural gas for delivery in December fell 0.30% to $4.391 per million British thermal units […]
Read moreNovember 7, 2014 9:00 am
Gold fell to a fresh 4-1/2 year low as the dollar rallied on optimistic economic expectations and the thought of Fed officials raising interests rate sooner as todays US jobs report could back up the strengthening economy. Comex gold for delivery in December traded at $1 144.0 per troy ounce at 8:38 GMT, up 0.12% […]
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