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Feb 15, 2013

De Beers sees glimmer of hope for hard-pressed diamond market

Feb 15 (Reuters) – A more positive outlook in China and
India will help boost diamond sales this year, says De Beers,
the world’s biggest diamond producer, in a further sign the
world economy is on a slow path to recovery.

De Beers forecast moderate growth in jewellery demand in
2013, in a turnaround from a 12 percent decline in rough diamond
prices last year, which it said was also in line with polished
diamond prices.

Feb 8, 2013

Aquarius Platinum reins in costs, shares rise

By Brenton Cordeiro

(Reuters) – Aquarius Platinum (AQP.L: Quote, Profile, Research, Stock Buzz) (AQP.AX: Quote, Profile, Research, Stock Buzz) reported a 24 percent drop in core profit for the first half, but said it was able to bring down costs by about a third, sending the miner’s shares up as much as 10 percent.

Aquarius, the world’s fourth largest platinum producer, said profitability at its mines was $22 million for the six months ended December 31, compared with $29 million a year earlier, due to tough operating conditions at its South Africa mines and lower platinum prices.

Jan 23, 2013

Flybe axes 300 jobs to revamp UK business

Jan 23 (Reuters) – British carrier Flybe Group Plc
said it would cut about 300 jobs, or about 10 percent of its UK
workforce, joining other European airlines that have cut costs
and headcount to cope with lower spending on air travel amid the
euro zone debt crisis.

Flybe shares fell as much as 7 percent on Wednesday morning
on the London Stock Exchange. They were down 5 percent at 47.38
pence at 1025 GMT.

Dec 13, 2012
via India Insight

A Twitter high five from the Pope? Maybe someday


As a practising Catholic, I was eagerly waiting to read Pope Benedict XVI’s first tweets. I didn’t expect to be blown away by the first few, but interest was building on the Internet, and I was part of that. Not many in India or my home state of Goa seemed to care very much. Perhaps they didn’t even know that the Pope had joined Twitter. But the small step by Pope Benedict on Wednesday, marks a dramatic change in the way the Church communicates to its faithful.

No one expected the Vatican, usually conservative by nature, or the 85-year old Pontiff, to say anything path-breaking or revolutionary. As expected, the first tweet was bland, and the event anti-climactic. Pope Benedict XVI also proved himself initially incapable of tweeting on his own.

Nov 21, 2012

Gemfields buys Faberge to create gem champion

LONDON (Reuters) – Gemfields (GEM.L: Quote, Profile, Research, Stock Buzz) is to buy luxury jeweler Faberge from one of the colored gem miner’s own shareholders, in a deal valuing the maker of lavish Easter eggs for Russia’s last tsar at $142 million.

The all-share deal, if approved by minority investors, will create an integrated company that mines colored stones and uses the Faberge brand to promote their use in jewelery.

Nov 16, 2012

UK’s Melrose says order delays make 2013 outlook uncertain

LONDON, Nov 16 (Reuters) – British engineering group Melrose
Plc warned of a slowdown particularly in the energy
businesses which account for about half its operating profit,
sending its shares down as much as 16 percent to a 10-month low.

“Growth in energy will be more modest next year, so I think
that will be the division that we’re most cautionary on,”
Finance Director Geoffrey Martin told Reuters.

Nov 15, 2012

National Grid understands anger after Superstorm Sandy blackouts

Nov 15 (Reuters) – Britain’s National Grid Plc said
it could understand the anger of thousands of U.S. customers
still in the dark after Superstorm Sandy and was working to
restore all its services on the east coast.

“If you’ve not had your lights on for two weeks and your
home’s been destroyed, you’re pretty angry,” Chief Executive
Steve Holliday said on a conference call.

Oct 23, 2012

Chemring CEO switch arouses doubts about Carlyle deal

By Brenton Cordeiro and Shilpa Hinduja

(Reuters) – Defence equipment maker Chemring Group Plc (CHG.L: Quote, Profile, Research, Stock Buzz) said Chief Executive David Price will step down immediately, raising doubts about the proposed takeover of the company by U.S. private equity firm Carlyle Group (CG.O: Quote, Profile, Research, Stock Buzz).

Chemring, whose shares fell as much as 10 percent on Tuesday morning, replaced Price with Mark Papworth, a former executive at oil industry services company John Wood Group Plc (WG.L: Quote, Profile, Research, Stock Buzz), where he was credited with leading a turnaround.

Oct 12, 2012

Manganese Bronze recalls taxis, says financial position unclear

Oct 12 (Reuters) – Manganese Bronze Holdings Plc,
the maker of London’s iconic taxis, suspended trading in its
shares on Friday and said its financial position was unclear
after it discovered a safety defect in its new TX4 model that
led to a recall and halt in sales.

The company, which has been reporting losses since 2008,
said it recalled about 400 TX4 London taxis after it found a
defect in a steering box that was introduced in February.

Aug 1, 2012

Avocet profit falls 58 pct, scraps dividend

Aug 1 (Reuters) – West Africa-focused Avocet Mining Plc
said its second-quarter profit more than halved and that
it would not pay a dividend this year.

Avocet, which has only one producing gold mine in Burkina
Faso, said production fell 16.5 percent to 32,917 ounces.

    • About Brenton

      "I’m currently Editor-in-Charge for UK company news in Bangalore, overseeing the coverage of mid-cap and small-cap UK companies. Previously, I was the Deputy Editor-in-Charge of the Headline News team in Bangalore, which is responsible for sending news alerts for all the major publicly listed companies in North America. I also worked with the finance team in Bangalore covering IPOs, and mid-cap and small-cap U.S. financial companies."
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