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Cut employee National Insurance payments, CBI tells politicians

first_img Kate McCannKate McCann is a reporter at City A.M. She covers politics and insurance and can be contacted at [email protected] Monday 10 November 2014 12:08 am whatsapp Tags: NULL Cut employee National Insurance payments, CBI tells politicians Sharecenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPost FunGreat Songs That Artists Are Now Embarrassed OfPost FunMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorLoan Insurance WealthDolly Parton, 74, Takes off Makeup, Leaves Us With No WordsLoan Insurance Wealth THE CONFEDERATION of British Industry (CBI) will today use its annual conference to lobby politicians for a cut in employee National Insurance payments. The business organisation will make the case for increasing the threshold for payments to £10,500, putting £363 back in the pockets of dual-income households and raising living standards across the country.The CBI will also call for an extension of free childcare and a package of measures to boost productivity in the UK.“To ease pressure on families and people on low incomes, we want immediate action, including cutting employee National Insurance and making childcare more affordable,” said CBI boss John Cridland.A Treasury spokesperson said: “As the CBI make clear, it’s not possible to create a sustainable rise in living standards with short-term sticking plaster fixes. That is why we must keep working through the plan that is building a resilient economy.” whatsapp Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Crazy Rich Asians’ Director Wishes He Made South Asian Roles ‘More Human’The WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnautlast_img read more

Daily Mail owner says digital ads revenue offsets decline in print: Full-year revenue up 3 per cent

first_img Daily Mail owner says digital ads revenue offsets decline in print: Full-year revenue up 3 per cent Share whatsapp Wednesday 26 November 2014 2:44 am Jessica Morris Show Comments ▼ The Daily Mail and General Trust (DMGT) said preliminary full-year revenue rose three per cent to £1,864m, as digital revenues helped offset declines in print.DMG Media, the company’s media side which includes Metro and MailOnline, said full-year revenue remained unchanged.  Total advertising revenue was up five per cent, and the group said digital advertising revenue offset the decline from print across its media portfolio.Revenue growth for MailOnline was up 41 per cent and it had 185m monthly unique users in September.DMGT also said business-to-business (B2B) revenue rose 11 per cent to £1,069m. The company’s events and businesses sector offset lower profits at its financial modelling arm RMS.It also provided an update on risk modelling platform RMS(one), which was delayed at the start of this year, and led to a write-down in September.The group announced that it had taken a £45m charge in relation to the delay.Martin Morgan, chief executive, said:We took a difficult decision in the year to delay the launch of RMS(one), although we are confident that the new programme of staged releases to a small number of clients during 2015, with availability to a broader client base towards the end of the year, will benefit the business in the long-term.  Following the delay, there was an impairment of the RMS(one) asset value in the year. In addition, the increase in RMS’s costs, ahead of RMS(one) revenues being generated in 2016, will adversely impact DMGT’s profits in 2015. Tags: NULL More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org whatsapplast_img read more

Inventor James Dyson now owns more land than the Queen after buying Cranwell and Roxholme estate

first_img Show Comments ▼ James Dyson, the man who removed the bag from the humble vacuum cleaner, is hoovering up land in Britain. Dyson, a self-made billionaire, has bought a 3,000 acre estate in Lincolnshire, which brings his estimated land holdings to 25,000 acres (or 14,204 football pitches), more than the Queen’s private estate, Sandringham, which is 20,000 acres. This moves the British inventor, believed to be worth £3bn, into rarified company: he has more land than the Duke of Bedford and the Duke of Wellington too. However, he is far behind the biggest landowners in the country, as Country Life worked out in a 2010 investigation:  The biggest owner of land in the UK continues to be the Forestry Commission, which belongs to the government. The Crown Estate, which holds an impressive portfolio, is not the private property of the Queen. Technically it rests in the hands of the reigning monarch, but revenues go to the Treasury. The Queen receives a fixed annual payment from the estate, called the civil list.  It is understood that Dyson, 67, is already using some of his land to grow maize for energy production, implying he has not lost his scientific eye. On his Nocton estate, close to his new acquisition, 2,000 acres of crops will be used to fuel a so-called anaerobic digester: a machine that breaks down crops into methane, carbon dioxide and fertiliser. It is hoped the venture will be able to power 2,000 homes.   whatsapp whatsapp Inventor James Dyson now owns more land than the Queen after buying Cranwell and Roxholme estate Billy Ehrenberg Share Monday 29 December 2014 4:26 am More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comKansas coach fired for using N-word toward Black playerthegrio.com Tags: Dysonlast_img read more

Mark Carney says deflation is possible and wouldn’t be a problem, refuses to be tied to date for interest rate hike

first_img Billy Ehrenberg Show Comments ▼ Tags: Mark Carney People UK inflation whatsapp Mark Carney has tonight refused to rule out the UK entering deflation after figures from the Office for National Statistics revealed the Consumer Price Index slowed to just 0.5 per cent in December.Speaking to ITV, the governor of the Bank of England said that deflation was possible “in a given month on a year-on-year basis” but that any fall in prices would not be sustained or stretch across a wide swathe of goods and services. Carney said the Bank of England remained on course to meet its target of two per cent inflation, but that he expected more disinflation first. The Bank’s mandated target would be reached within one or two years, the governor said.  Carney was also at pains to point out that a drop in oil prices could not by itself drag the UK into deflation, because the measure is a trend over time. A one-off drop could not continue to have a measure on the index after its initial hit. As the ONS data released today showed, some areas of the economy have seen growth in the last year, while others have shrunk.GoodsPercentage points changeFood and non-alc drinks0.00Alcohol and tobacco0.04Clothing/shoes-0.02Housing & household services-0.32Furniture & household goods0.00Health0.00Transport-0.18Communication0.01Recreation & culture0.03Education0.00Restaurants and hotels-0.01Miscellaneous0.02 The overall rate was pulled lower by household goods and transport, with the latter affected by the global oil-price slump.In the interview Carney also addressed the speculation about interest rate rises, which he said could come sooner or later than the market expected. Economists have pencilled in the summer for a rate hike, which carney again said would be “gradual and limited.”  Mark Carney says deflation is possible and wouldn’t be a problem, refuses to be tied to date for interest rate hike Tuesday 13 January 2015 1:06 pm More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKansas coach fired for using N-word toward Black playerthegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Share whatsapp last_img read more

Sony’s PlayStation 4 20th anniversary special edition sells for £85,000 at auction

first_img Joe Hall Sony’s PlayStation 4 20th anniversary special edition sells for £85,000 at auction whatsapp Share Monday 26 January 2015 5:26 amcenter_img Show Comments ▼ whatsapp Tags: NULL A PlayStation 4 console costs £329 from Tesco, yet a punter in Japan was prepared to pay a whopping £85,000 for a special edition version at auction. Sony held an auction for a 20th anniversary edition of the PlayStation 4 with the serial number 00001. The winning offer of 15,135 yen beat 1,585 bids to secure the console which comes with a grey colour scheme reminiscent of the original PlayStation, as opposed to the usual black and white versions available in stores. Some 12,300 anniversary editions were released by Sony, each of which were hand numbered and sold for around 49,980 yen (£373).  Sony said it will donate the fee to charity. A spokesperson told the Wall Street Journal:  We appreciate all who participated in the auction and are surprised at the highest bid price, which was higher than our expectations. The PlayStation 4 has been a big winner for Sony. Since its release in November 2013, over 18.5m units have been sold worldwide. In comparison, Microsoft’s Xbox One sold just 10m units by November last year. Industry analysts expect sales of the PlayStation 4 to reach 50m sales by 2018. last_img read more

Germany’s anti-euro AfD party nears first seats in western state

first_img Express KCS Tags: NULL Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndozenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comUndoForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesUndoDiscovery29+ Fascinating U.S. Navy WarshipsDiscoveryUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoComedyAbandoned Submarines Floating Around the WorldComedyUndoTheFashionBallPrince Harry Admits Meghan Markle May Not Be The OneTheFashionBallUndoSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsUndo Germany’s anti-euro AfD party nears first seats in western state Sunday 15 February 2015 11:50 pm whatsappcenter_img whatsapp THE EUROSCEPTIC Alternative for Germany (AfD) party appeared close to winning its first seats in a regional parliament west of the country yesterday, signalling a growing threat to Chancellor Angela Merkel’s conservative party which suffered a big defeat. Exit polls from the city-state elections in Hamburg showed the AfD just above the five per cent threshold needed to enter the regional assembly.If confirmed this morning, the result could help establish the anti-bailout party as a force beyond the former communist East, where it won seats in three regional votes last year.The ruling Social Democratic party (SPD) won around 47 per cent of the votes, which were still being processed last night, leaving it just short of an overall majority. To stay in office, SPD state premier and Hamburg mayor Olaf Scholz will probably have to form a coalition with the Greens, who won 11.7 per cent of the votes. Merkel’s Christian Democrats Union (CDU) suffered its worst result since the Second World War, coming in a distant second at about 16 per cent. Share Show Comments ▼ Read This NextBill Maher Pokes Fun at Joe Manchin: He’s a ‘Democrat Except on Matters ofThe Wrap’No Sudden Move’ Film Review: Steven Soderbergh Very Stylishly OverplaysThe WrapAzealia Banks Blasts Candace Owens’ Juneteenth Diss With Callback toThe WrapWATCH: Pittsburgh Pirates hold off Cleveland Indians to snap 10-game skidSportsnautFrom ‘Ratched’ to ‘Halston’: One Editor’s Literal Double TakeThe WrapDave Portnoy, Founder of Barstool Sports, Briefly Suspended From TwitterThe Wrap’Pride’ and Joy: How the FX Docuseries Examines LGBTQ+ Life Through theThe Wrap35 of TV’s Best Father Figures Who Weren’t Actually Dads, From Mr.The WrapHow ‘Silence of the Lambs’ Inspired Elisabeth Moss’s Directing inThe Wraplast_img read more

Centaur back in profit after restructuring

first_img Centaur back in profit after restructuring whatsapp Show Comments ▼ Express KCS Tags: NULL SHARES in publishing group Centaur Media fell by 2.58 per cent yesterday, despite the company posting a return to profit in 2014.The company, which publishes titles such as The Lawyer and Marketing Week, moved from a loss of £35.7m in 2013 to a profit of £14.2m last year. The firm also reported revenue of £72.8m for the year ended 31 December, compared with £74.4m the year before. Andria Vidler, Centaur chief executive, said the business was now “restructured, focused and returning to growth. “The business has responded exceptionally well to a significant level of change,” she added. “Less than 18 months ago, Centaur Media was the aggregate of more than 50 small businesses working independently from one another. Although the breadth and depth of expertise was considerable, attention and investment were fragmented and core revenues were declining.”Vidler also said that the company is “encouraged by the outlook for 2015”. center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMoguldom NationFather Of 2 Sues Los Angeles Hospital After Wife Dies During ChildbirthMoguldom Nationzenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyDiscovery29+ Fascinating U.S. Navy WarshipsDiscoveryMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesGundry MD Bio Complete 3 SupplementTop Surgeon: This Simple Trick Empties Your Bowels Every Morning (Almost Immediately)Gundry MD Bio Complete 3 SupplementComedyAbandoned Submarines Floating Around the WorldComedy Wednesday 11 March 2015 9:50 pm Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof whatsapplast_img read more

TA Associates swoops for stake in Chinese payment firm YeePay

first_imgMonday 16 March 2015 9:07 pm whatsapp Share PRIVATE equity firm TA Associates has announced it has completed an investment in Chinese online payment service provider YeePay.Although financial details of the transaction were not disclosed, TA Associates partnered with Far East Horizon, a tailored financial leasing company, on the deal.YeePay is the first company in China to provide a single platform integrating both online and offline electronic payments and last year processed $77bn (£52bn) of trans­actions, up over 100 per cent from 2013. “YeePay offers a number of very compelling investment attributes, including a diversified customer base featuring some of the leading brands in China, an at­tractive recurring revenue model and an experienced management team,” TA Associates’ Edward Sippel said. Founded in 2003, the Beijing-based company enables consumers and businesses to make and receive secure payments over the internet, mobile and telephone. “Since our founding, we have enjoyed contin­ued growth and believe a partnership with a growth private equity firm like TA, and an innovative and experienced finan­cial services provider such as Far East Horizon, will prove highly ben­ef­icial to our continued success,” said Bin Tang, YeePay co-founder. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTop 10 Fried Chicken Spots in the U.S.GayotAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof TA Associates swoops for stake in Chinese payment firm YeePay center_img whatsapp Tags: NULL Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesComedyAbandoned Submarines Floating Around the WorldComedyMoneyWise.com15 States Where Americans Don’t Want To Live AnymoreMoneyWise.comTheFashionBallPrince Harry Admits Meghan Markle May Not Be The OneTheFashionBallEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity Mirror Express KCS last_img read more

Germanwings 4U9525: Lufthansa chief executive Carsten Spohr says crash site is “harrowing”

first_imgLufthansa’s chief executive Carsten Spohr has said seeing the site of the crashed Germanwings flight 4U9525 was “harrowing”.  Lufthansa, which owns budget airline Germanwings, held a minute’s silence this morning at 10:53 local time (9:53 GMT) exactly 24 hours after contact between French air traffic control and the Airbus A320 broke off.  Spohr’s statement was given shortly beforehand, parts of which were tweeted.  He said: “Seeing the site of the accident was harrowing. We are in deep mourning. Our thoughts are with the relatives of the victims. “Germanwings and Lufthansa will do everything in our power to help in an uncomplicated and timely manner “We will enable the relatives to grieve on site as soon as possible.”  The company cancelled one Germanwings flight on Wednesday morning, after cancelling 24 flights the day before. In Brussels, flags were flown at half mast in front of the European Commission, the European Union’s executive.  Several Germanwings crew members said they were unfit to fly following news of the crash of flight 9525. Lufthansa CEO Carsten Spohr said he understood the crew members’ concerns.  “Some have refused their service for personal reasons, but not out of concern that something there is out of order,” a spokeswoman told the DPA news agency. Separately Spohr said: “One must not forget: many of our Germanwings crews have known crew members who were onboard the crashed plane. “It is now more important to ensure psychological assistance if needed. And we will get back to a full flight operation as soon as possible then. But for me, this is rather secondary now.”  Germanwings 4U9525: Lufthansa chief executive Carsten Spohr says crash site is “harrowing” More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPuffer fish snaps a selfie with lucky divernypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com Wednesday 25 March 2015 6:45 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbeszenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesFinancial 10See The Wife Of The World’s Richest BillionairesFinancial 10ComedyAbandoned Submarines Floating Around the WorldComedyDefinitionThe Most Famous Movie Filmed In Every U.S. StateDefinition Sharecenter_img whatsapp whatsapp Show Comments ▼ Catherine Neilan Tags: NULLlast_img read more

Production rise but Lonmin still swings to a loss

first_img whatsapp Share Show Comments ▼ whatsapp MINING group Lonmin beat market expectations, despite falling to a pre-tax loss of $77m (£49m) in the six months to 31 March. The group, which specialises in platinum, posted a profit of $26m in the first half of 2014.The company also saw net debt grow in the period, to $282m, which it attributed to disruption caused by smelter shutdowns, while revenue fell to $508m from $578m. Lonmin boss Ben Magara said the firm was continuing with its efforts to cut costs and preserve cash, in a bid to “navigate the effects” of a low platinum group metals pricing situation. Capital expenditure during the first half was $65m, compared with $46m in the same period of last year, while capex for the full year has been reduced to $160m from $185m.Magara also said he was encouraged by Lonmin’s “ongoing efforts to manage the controllables,” including engagement with the unions to reduce outgoings such as labour costs. “We are working well within our debt facilities, and this position will improve further during [the second half] as stockpiles unwind,” he added.Meanwhile, quarterly platinum production grew in the three months to 31 March, from 60,417 oz to 122,094 oz. Analysts at Numis said the company was “making some progress in a tough operating environment,” but added that it still has much work to do.Lonmin shares were down by 1.06 per cent yesterday. Production rise but Lonmin still swings to a loss Monday 11 May 2015 9:00 pm Express KCS Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Kevin Can F**k Himself’ TV Review: Annie Murphy Blows Up the Idea of aThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap Tags: NULLlast_img read more