Xstrata CEO Eyes Net Real Cost Savings of $390 Million In 2012
Anglo-Swiss miner Xstrata PLC (XTA.LN) expects to deliver net real cost savings of around $390 million in 2012 as a mix of higher output levels, lower input costs and greater efficiencies help offset higher costs from lower ore grades and a transition period from old to new mines, the company's
Hyundai Motor, GM Korea Unions to Continue Strikes Starting Wednesday
Unionized workers at Hyundai Motor Co. (005380.SE) and GM Korea Co. will continue their separate industrial actions to seek higher wages and better working conditions as from Wednesday, spokesmen from the two carmakers' unions said separately Tuesday.
E.ON First-Half Adjusted Net Profit Soars On Gas-Contract Gain
German utility E.ON AG (EOAN.XE) Tuesday pre-released earnings for the first half of 2012, showing the expected large increase in adjusted net profit after the company secured improved natural-gas-contract terms with Russia's OAO Gazprom (GAZP.RS) and saw the end of one-off negative effects from
India Oil Minister: Expect to Approve Reliance Plan to Raise Gas Output
India's oil minister said Tuesday that the federal government may approve Reliance Industries Ltd.'s (500325.BY) new investment plan for the D6 block in the eastern offshore Krishna-Godavari basin as the country continues to face an acute shortage of natural gas.
Cognizant to Continue Aggressive Currency Hedging Despite Rupee Fall
Cognizant Technology Solutions Corp. (CTSH) is sticking to its strategy of hedging its exposure to the Indian rupee aggressively, a senior company executive said.
HTC Lost More Than $1 Billion in Market Value This Week
More than $1 billion was wiped out of HTC Corp.'s (2498.TW) market capitalization Monday and Tuesday combined, after the Taiwanese smartphone maker warned of weaker third-quarter earnings and reported a 45% plunge in July revenue, highlighting the intense competition in the fast-growing smartphone
Danske Bank to Keep Closing Branches Quickly - Source
Denmark's biggest bank Danske Bank A/S (DANSKE.KO) will keep closing branch offices at a rapid pace in order to save costs and because its customers are increasingly doing business online, a person close to the process said Tuesday.
Co-operative Bank Chief Executive Peter Marks to Retire May 2013
The Co-operative Bank PLC (CPBB.LN), which is in the process of buying 632 retail bank branches from 41% Government-owned Lloyds Banking Group PLC (LYG), said Tuesday Chief Executive Peter Marks will retire at the Annual General Meeting on May 18, 2013.
PLDT, Globe Suffer Profit Drop in 2Q due to Competition
The Philippines' top two telecom operators--Philippine Long Distance Telephone Co. (TEL.PH) and Globe Telecom Inc. (GLO.PH)--Tuesday reported a decline in their quarterly profits, as they were hit by the costs of modernising their networks and catering to bargain-hunting customers amid fierce
EDF Holds 98% of Italy's Edison after Tender Offer
French state-controlled utility Electricite de France SA (EDF.FR) Tuesday said it has secured a stake of 98.104% in Italy's Edison SpA (EDN.MI) after launching a mandatory tender offer prior to delisting the shares.