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| Vedanta's core earnings jump on oil and gas boost Wednesday, Jan 30, 2013 11:31 PM PST (Reuters) - Vedanta Resources Plc reported a 31 percent rise in third-quarter core earnings, helped by a strong performance by Cairn India, its Indian oil and gas unit. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew to $1.11 billion in the three months ended December 31, from $848.4 million a year earlier, the London-listed company said. Vedanta, which counts Indian billionaire Anil Agarwal as its largest shareholder, said revenue climbed 7 percent to $3.58 billion. ... Full Story | Top |
| Lonmin says Q1 output ahead of its targets Wednesday, Jan 30, 2013 11:29 PM PST  LONDON (Reuters) - South African miner Lonmin posted quarterly production ahead of its targets and maintained its guidance for the full-year in spite of strikes which hammered the South African mining sector last year. The world's third-largest platinum producer said its performance in the quarter "substanstially exceeded" its planned ramp-up after a torrid year where it was at the centre of a wave of South African mine strikes last summer that left dozens dead. Full Story | Top |
| Shell jacks up dividend and chases growth Wednesday, Jan 30, 2013 11:25 PM PST  LONDON (Reuters) - Anglo-Dutch oil company Royal Dutch/Shell pledged an ambitious 4.7 percent increase in its quarterly dividend on Thursday and pushed ahead with plans to deliver more oil and gas despite an uncertain outlook for some parts of the world economy. The company was delivering fourth quarter and annual results that undershot expectations at $5.582 billion for the fourth quarter on an adjusted current cost of supply basis compared with expectations of around $6.2 billion. (Reporting by Andrew Callus) Full Story | Top |
| Diageo revenue growth supported by premium brands Wednesday, Jan 30, 2013 11:23 PM PST  ZURICH (Reuters) - Diageo , the world's biggest spirits group, reported steady sales growth in the second half of 2012, driven by price rises and the growth in the United States of premium brands like Ketel One vodka and Bulleit Bourbon. The maker of Johnnie Walker whisky, Guinness beer and Tanqueray gin saw sales grow 5 percent like-for-like to 6.039 billion pounds ($9.54 billion) in the half year to December, while pre-exceptional earnings per share rose 9 percent to 60.9 pence. ($1 = 0.6332 British pounds) (Reporting by Emma Thomasson) Full Story | Top |
| AstraZeneca's new CEO warns of tough year ahead Wednesday, Jan 30, 2013 11:21 PM PST LONDON (Reuters) - AstraZeneca's new boss warned on Thursday the drugmaker faced a tough year in 2013, with sales expected to fall by a mid-to-high single digit percentage rate as patent expiries continue to erode business. Earnings will decline "significantly more than revenue" this year as operating costs rise, the company said. Chief Executive Pascal Soriot hopes eventually to turn the group around by investing in existing growth areas like emerging markets, diabetes care and the new heart drug Brilinta. He is also weighing the case for acquisitions. ... Full Story | Top |
| KKR, Apax to bid for Vivendi's GVT: report Wednesday, Jan 30, 2013 11:18 PM PST PARIS (Reuters) - Private equity firms KKR and Apax Partners are teaming up to bid for French media group Vivendi's Brazilian telecoms subsidiary GVT, according to a Bloomberg report citing unnamed sources with knowledge of the matter. The KKR-Apax group is said to be willing to pay as much as 5 billion euros ($6.8 billion) for GVT, below Vivendi's asking price of 8 billion, the report said. BTG Pactual Group, Latin America's largest investment bank, is "still considering" whether to join the bid, it added. The group would be bidding against U.S. ... Full Story | Top |
| Asian shares off highs, Fed's stance weighs on dollar Wednesday, Jan 30, 2013 11:08 PM PST  TOKYO (Reuters) - Asian shares fell slightly on Thursday after rallies to multi-month highs, and longer for some Southeast Asian markets, while the U.S. Federal Reserve's pledge to retain its stimulus policy undermined the dollar. Sentiment in Asian markets remained underpinned, however, by positive factory output data in Japan, and strong gross domestic product reports from Taiwan and the Philippines. A weak dollar and signs of stabilization in the euro zone underpinned gold, and expectations that demand will pick up for industrial commodities supported oil and copper prices. ... Full Story | Top |
| ANA counts cost of grounded 787, may impact future strategy Wednesday, Jan 30, 2013 11:06 PM PST  TOKYO (Reuters) - All Nippon Airways Co , Asia's top airline by revenue, said the grounding of Boeing Co's 787 Dreamliner jet, with undiagnosed battery problems, would cost it around $15.4 million in lost revenue from cancelled flights this month. ANA, the Dreamliner's launch airline, said it remained unclear as to when the sophisticated new plane would resume commercial flights, making it harder to predict the longer-term financial impact of having the plane idle. The carrier said it didn't plan to change, for now, its growth strategy, which has the technologically advanced 787 at its core. ... Full Story | Top |
| House prices rise more than forecast in January - Nationwide Wednesday, Jan 30, 2013 11:04 PM PST  LONDON (Reuters)- British house prices rose more than expected this month compared with December and stopped their annual decline, helped by the central bank's scheme to boost lending, mortgage lender Nationwide said on Thursday. Nationwide data showed that house prices ticked up 0.5 percent on the month after a slightly upwardly revised flat reading in December. Compared with January 2012, prices were unchanged, avoiding a decline for the first time since last February. Both the monthly and the annual figures were better than forecast by analysts. ... Full Story | Top |
| Deutsche Bank posts huge Q4 loss to pay for clean-up Wednesday, Jan 30, 2013 10:53 PM PST  FRANKFURT (Reuters) - Deutsche Bank's posted a fourth-quarter pretax loss of 2.6 billion euros ($3.5 billion) hit by hefty litigation and restructuring charges as the bank downsizes to a leaner investment banking environment under new leadership. Germany's largest lender said strong operating results at its business divisions were overshadowed by a 1.9 billion euro goodwill impairment to pay for a new divisional structure and to hive off assets into a non-core unit. ... Full Story | Top |
| Honda says aims to boost global car sales by 15 percent this year Wednesday, Jan 30, 2013 10:51 PM PST TOKYO (Reuters) - Honda Motor Co aims to increase its global car sales by 15 percent to 4.40 million vehicles in calendar 2013, from 3.82 million vehicles last year, a company executive said on Thursday. Honda, Japan's third-biggest automaker, aims to sell 750,000 vehicles in China this year, up from 604,000 vehicles in 2012, Executive Vice President Tetsuo Iwamura told reporters. (Reporting by Yoko Kubota; Editing by Chris Gallagher) Full Story | Top |
| IMF says Seychelles GDP to grow 3 pct in 2013 Wednesday, Jan 30, 2013 10:47 PM PST  VICTORIA (Reuters) - Seychelles' economy is seen growing by an average 3 percent this year from an estimated 2.7 percent last year, helped by its tourism sector and ventures into new markets away from its main ones in Europe, while inflation is expected to slow, the International Monetary Fund said. "Growth is forecast to average around 3 percent, as tourism continues to diversify into nontraditional markets, and inflation is expected to return to low single digits," the IMF said in its latest staff report on Seychelles, released late on Wednesday. Full Story | Top |
| Honda trims full-year profit forecast; Q3 rises 63 percent Wednesday, Jan 30, 2013 10:34 PM PST  TOKYO (Reuters) - Honda Motor Co Ltd trimmed its annual net profit forecast by 1.3 percent to 370 billion yen after car sales have been knocked in China, and as it continues to struggle in Europe. Japan's third-biggest automaker said its net profit for October-December was 77.4 billion yen ($849.94 million), compared with the 47.7 billion yen it booked last year when it suffered from disrupted supply chains after floods hit it and its suppliers' factories in Thailand. The result was below the average estimate of 111.4 billion yen among seven analysts polled by Thomson Reuters I/B/E/S. ... Full Story | Top |
| AngloGold Ashanti says Tropicana project on track Wednesday, Jan 30, 2013 10:31 PM PST  JOHANNESBURG (Reuters) - AngloGold Ashanti, the world's third-largest gold producer, said on Thursday its Tropicana Gold Project in Australia would begin production in the December quarter. The gold miner, which holds 70 percent of the project, said Tropicana is expected to produce 470,000 TO 490,000 ounces a year in its first three years of operation. Full Story | Top |
| ACI Worldwide to buy Online Resources for $126.6 million Wednesday, Jan 30, 2013 09:39 PM PST (Reuters) - Electronic payment services provider ACI Worldwide Inc said it will buy its peer, Online Resources Corp , in an all-cash deal with an equity value of about $126.6 million to expand its footprint in the online banking and bill payment sectors. ACI Worldwide will buy Online Resources for $3.85 per share. Based on 32.89 million shares outstanding, according to Reuters data, Online Resources' equity is valued at about $126.6 million. The per share offer is an 83 percent premium to Online Resources' closing stock price of $2.10 Wednesday on the Nasdaq. ... Full Story | Top |
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