Royal Dutch Shell Appoints Guy Elliott Non-Executive Director
29th Jul 2010 07:57
LONDON (Dow Jones)--Oil major, Royal Dutch Shell PLC (RDSA) said Thursday it has appointed Guy Elliott, Chief Financial Officer of Rio Tinto PLC (RIO.LN) since 2002, as non executive director with effect from Sept. 1. -Royal Dutch shares closed Wednesday at 1787 pence valuing the company at GBP6
Read moreMARKET TALK: Rio-Chinalco Deal More About Relations Than Guinea
29th Jul 2010 03:36
0236 GMT [Dow Jones] While Guinea's 2.2 billion ton Simandou iron ore project clearly major prize for Rio Tinto (RIO.AU) and Chinalco (ACH), today's signing ceremony formalising MoU in Beijing more about direct relationship than attempt to consolidate position on project. Rio Tinto Iron Ore CEO Sam
Read moreVote For Opposition To Defeat Australian Mining Tax - Sydney Mining Club Chairman
29th Jul 2010 02:39
SYDNEY (Dow Jones)--Voting for Australia's opposition coalition in an election due Aug. 21 is the "only one option" left to Australia's mining industry after the "cave in" deal between major miners and the government on tax reform plans, the chairman of the Sydney Mining Club Julian Malnic said Thur
Read moreUPDATE: Energy Resources Of Australia 1H Profit Tumbles 82%
29th Jul 2010 00:56
(adds uranium price outlook) By Ross Kelly Of DOW JONES NEWSWIRES SYDNEY (Dow Jones)--Energy Resources of Australia Ltd. (ERA.AU) said Friday that its first half profit plunged 82% after the Rio Tinto Ltd. (RIO.AU) subsidiary and one of the world's biggest uranium producers encountered
Read moreEnergy Resources Of Australia 1H Profit Down 82% To A$22.7M
29th Jul 2010 00:03
SYDNEY (Dow Jones)--Energy Resources of Australia Ltd. (ERA.AU) said Friday that first half profit plunged 82% on lower sales volumes and uranium prices. Net profit for the six months to June 30 fell to A$22.7 million, from A$127.6 million in the previous corresponding period, missing UBS and J.
Read moreLondon close: Thumbs down for company updates
28th Jul 2010 16:36
Company updates gave traders plenty to mull over and after an uncertain start to the day, shares closed firmly in the red. Centrica slipped even after the British Gas owner's underlying interim profits jumped 65%. Earnings in the half-year to June rose to £886m from £537m on revenues of £11.7bn, ba
Read moreLondon afternoon: US durable goods blow for equities
28th Jul 2010 14:56
With US markets opening on a weak note leading stocks in London have continued their downward drift. US stocks fell back after US durable goods orders in June fell for a second successive month. June's 1% fall was in contrast to expectations of a rise of similar magnitude. Centrica is in retreat ev
Read moreLondon midday: Shares turn south
28th Jul 2010 12:17
Mining stocks are doing their bit to shore up the Footsie but the majority of leading shares are now in retreat, including most of the big names that issued corporate updates today. Higher metal prices boost demand for miners such as Xstrata, Vedanta and BHP Billiton. Rio Tinto is also wanted after
Read moreCORRECT:EARNINGS PREVIEW: Miners See Strong 1H,Eyes On Growth
28th Jul 2010 11:28
("EARNINGS PREVIEW: Miners See Strong 1H, Eyes On Organic Growth," published at 0743 GMT, missstated the spelling of Xstrata in the 13th paragraph. The correct version follows.) By Alex MacDonald Of DOW JONES NEWSWIRES TAKING THE PULSE: UK-listed miners are expected to deliver higher ea
Read moreMoody's Senior Credit Officer: Australia's MRRT Won't Impact Large Miner Profits Greatly
28th Jul 2010 07:02
SYDNEY (Dow Jones)--Australia's proposed Mineral Resources Rent Tax may dent investment but won't much affect the profitability of the largest mining companies, such as Rio Tinto Ltd. (RIO.AU) or BHP Billiton Ltd. (BHP.AU), Steven Hess, senior credit officer in the sovereign risk group at Moody's In
Read more2nd UPDATE: Chalco Trading Halt Likely Linked To Simandou Iron Ore Deal
28th Jul 2010 06:57
(Adds industry, source comments on Guinea Simandou iron ore project.) By Chuin-Wei Yap Of DOW JONES NEWSWIRES BEIJING (Dow Jones)--Chinese metals major Aluminum Corp. of China, also known as Chinalco, may be poised to set out formal details of its deal with Anglo-Australian miner Rio Tin
Read moreUPDATE: RBA's McKibbin Says Timing Of Mining Tax Proposal Was Risky
28th Jul 2010 06:40
(Adds comments on ETS) By Rebecca Thurlow Of DOW JONES NEWSWIRES SYDNEY (Dow Jones)--Reserve Bank of Australia board member Warwick McKibbin said Wednesday it is "stunning" that Australia's government would change the country's mining tax regime while there is a sovereign risk crisis i
Read moreUPDATE: Australia PM Gillard Defends Damaging Cabinet Leaks
28th Jul 2010 06:01
(Adds detail, wraps in Liberal tax announcement) By Rachel Pannett Of DOW JONES NEWSWIRES CANBERRA (Dow Jones)--Australia's Prime Minister Julia Gillard encountered the biggest test yet Wednesday in her bid for a second term for her center-left Labor government, as her campaign was tro
Read moreAustralia's MRRT To Cost Coal Producers A$7.4B Over 5 Years -Woodmac
28th Jul 2010 03:20
SYDNEY (Dow Jones)--The Australian government's deal on a new mining tax will cost coal producers an extra A$7.4 billion over the first five years if coal prices remain at current levels, a new study showed Wednesday. Industry consultant Wood Mackenzie said the tax burden risks adding to long-te
Read moreMARKET TALK: S&P/ASX 200 Up 0.3%; Supported By Banks
28th Jul 2010 01:42
0042 GMT [Dow Jones] S&P/ASX 200 up 0.3% at 4510.6, supported by banks, which are up 0.5%-1.3% on offshore peer strength after strong results from UBS and Deutsche Bank. Resources holding up despite overnight weakness in commodity prices and U.S. peers, with BHP (BHP.AU) up 0.5%, Rio (RIO.AU) up 0.6
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