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Global miner Rio Tinto (Hanover: CRA1.HA - news) on Friday logged a slight drop in quarterly iron ore production in December and said it expected to produce more iron ore in 2019 in a target range that was at the lower end of analyst expectations. Mined copper production beat its guidance, mostly due to higher grades and better productivity at Rio Tinto's Kennecott operations in the Utah, the company said in a statement. Meanwhile its outlook for iron ore production for this year, was in a range of 338 million tonnes to 350 million tonnes, making a Vuma consensus of 348.8 million tonnes at the top end of its guidance.
PARIS/BEIJING, Nov 25 (Reuters) - Renault-Nissan executives will attempt this coming week to shield their joint operations from a looming power struggle between the carmakers, following alliance boss Carlos Ghosn's shock arrest over misconduct allegations. While Nissan and 43.4 percent-owner Renault have vowed to safeguard the partnership, the Japanese carmaker's Chief (Taiwan OTC: 3345.TWO - news) Executive Hiroto Saikawa also made clear he wants to end its French parent's control of the alliance, as he moved swiftly to oust Ghosn as chairman. Ghosn, 64, and alleged co-conspirator Greg Kelly, a fellow Nissan director, both deny accusations that they under-reported Ghosn's compensation, misrepresented Nissan investments and made personal use of company funds, Japanese broadcaster NHK reported.
LONDON, Oct (Shenzhen: 000069.SZ - news) 28 (Reuters) - If there is a secret to Lewis Hamilton's fifth Formula One title, beyond the Briton's individual brilliance in a car that was not always the fastest, then his Mercedes (Xetra: 710000 - news) team can provide an answer. Hamilton, now in his sixth season with Mercedes and more of a leader than ever, raised his game to new levels but Mercedes also rose to a challenge greater than any they had previously encountered. "We’ve grown stronger as a team," principal Toto Wolff said when asked what had changed.
Wall Street rose by a smidgen on Friday as gains led by Intel, real estate companies and utilities offset Facebook after the social network disclosed a security breach. Facebook slumped 2.7 percent after ...
Regulators are to investigate claims consumers are forking out over £4bn annually to utility providers in a so-called loyalty penalty. The Competition and Markets Authority (CMA) said it would examine issues raised by Citizens Advice in a super complaint, which alleged households were being exploited by mobile, broadband, home insurance, mortgage and savings providers. Citizens Advice, which is among a small number of consumer interest groups with powers to lodge formal complaints with regulators, said there was a widespread practice of overcharging people who failed to shop around for better deals.
Ireland (Other OTC: IRLD - news) -based DCC Plc (Frankfurt: DCC.F - news) plans to buy Canada-based musical instruments distributor Jam Group for an enterprise value of $170 million, the company said on Thursday, as it continues to diversify its business through acquisitions. DCC also said it planned to place up to 8.9 million new shares with institutional investors and use the proceeds to drive its acquisition strategy. DCC said its first-half profit would be in line with its expectations, helped by acquisitions.
Russian gold miner Petropavlovsk expects to report a net profit next year as a key gold treatment project is set to boost production and cut costs, Chief (Taiwan OTC: 3345.TWO - news) Executive Pavel Maslovskiy said on Thursday. The company swung to a net loss of $24.8 million in the first half on rising costs and lower sales but the company declined to give a forecast for the full year. It reported a net profit of $24.5 million in the first half of last year and $41.5 million for the full year.
Shares in IG Group fell more than 11 percent on Thursday after the online trader said Chief (Taiwan OTC: 3345.TWO - news) Executive Peter Hetherington would step down, a departure that will increase uncertainty for the company amid a regulatory clampdown on spread-betting. IG (Frankfurt: A0EARV - news) and its rivals, such as CMC Markets (LSE: CMCX.L - news) , have faced tighter regulations on their products, which allowed anyone with a bank card to make highly-leveraged bets on financial markets via apps and online platforms. Last week, IG said the tighter regulations and a dip in market volatility led revenue for its latest quarter to fall 4.7 percent.
The AA has blamed a 65% fall in pre-tax profits on a surge in demand for roadside help during the winter, with call-outs hitting a 15-year high. The AA said vehicle failures ramped up costs in the first half of its financial year, as over 1,900 stranded members sought help. The AA said total Roadside revenues held up despite an anticipated drop in business and personal memberships due to stronger promotional activity among rivals.
The AA has blamed a 65% plunge in pre-tax profits on a surge in demand for roadside help during last winter's cold snap. It said the number of breakdowns it attended as a result of freezing conditions during the two so-called Beast from the East whiteouts earlier this year amounted to a 15-year high. The AA said that had an impact on costs in the first half of its financial year, as over 1,900 of stranded members sought help.
Clothing retailer Next (EUREX: NXTJ.EX - news) raised its profit guidance after better-than-expected trading in late summer and said it was well prepared should Britain crash out of the EU without a deal, sending its shares higher. The company, which trades from over 500 stores in Britain and Ireland (Other OTC: IRLD - news) , about 200 stores in 40 countries overseas and its Directory online business, said that while a no-deal Brexit would mean additional administrative costs, in the context of the overall group they would not be material. "The thing we're most worried about is the ports," Chief (Taiwan OTC: 3345.TWO - news) Executive Simon Wolfson told Reuters on Tuesday.
Step (Shenzhen: 002527.SZ - news) into one of the more than 4,300 H&M budget fashion stores around the world and you often know what to expect: clothes racks crammed with tops, trousers and skirts in a spartan and sometimes cluttered environment. H&M executives say that's no longer good enough. Now (Frankfurt: 11N.F - news) , at a spruced-up pilot store in H&M's home town of Stockholm, the chain founded in 1947 is testing new concepts that mark a break with its past - and partly echo some tactics already deployed by rivals to attract shoppers.