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India delays decision on iron ore licence for POSCO's $12 bln plant
2014-10-18 08:23:10| Steel - Topix.net
India's federal government has again delayed a decision on permitting POSCO to mine iron ore, seeking more clarifications from Odisha state where the South Korean company has waited nine years to set up a $12 billion steel plant. Former Prime Minister Manmohan Singh said in January POSCO's request for a mining licence - the final regulatory hurdle for the project which would be the biggest foreign direct investment in India - was at an "advanced stage of processing".
Tags: decision
india
plant
iron
UPDATE 2-Cliffs Natural to take $6 bln charge on coal, iron ore assets
2014-10-17 16:41:19| IT Services - Topix.net
Cliffs Natural Resources Inc said it would record a non-cash charge of $6 billion in the third quarter to write down the value of some coal and iron ore assets due to weak prices. Cliffs Natural replaced it chief executive in July and said it would sell underperforming assets after New York-based fund Casablanca Capital triumphed in a proxy battle.
Tags: update
natural
charge
iron
BSkyB grows revenue 6% to GBP 1.93 bln in 1st fiscal quarter
2014-10-16 09:20:00| Telecompaper Headlines
(Telecompaper) Pay TV and broadband operator BskyB (Sky) reported revenue up 6 percent to GBP 1.93 billion in its fiscal first quarter to 30 September, compared with GBP 1.82 billion in the year-earlier period, as it added 51,000 new retail customers to take the total to 11.5 million. The revenue increase benefited from one month's price rise in September and a growing contribution rom transactional revenue, with Sky Store revenue up 125 percent. Wholesale revenue increased by 9 percent to GBP 105 million in the fiscal first quarter from GBP 96 million a year earlier. Advertising revenue increased by 6 percent to GBP 108 million from GBP 102 million, due to its rising market share and a first time contribution from AdSmart. The top line growth translated into higher profits, with EBITDA rising 6 percent to GBP 417 million. Operating profit increased by 11 percent to GBP 316 million from GBP 285 million. Net profit reached GBP 608 million, including a GBP 429 million gain from the sale of a 6.4 percent stake in ITV, compared to GBP 245 million in the first quarter of the last fiscal year. EPS grew by 8 percent to GBP 0.141 from GBP 0.13 over the same period.
Tags: 1st
quarter
fiscal
revenue
NetScout buys Danaher communications ops for USD 2.6 bln
2014-10-15 12:30:00| Telecompaper Headlines
(Telecompaper) Unified service delivery management specialist NetScout has agreed to buy Danaher's communications business for USD 2.6 billion in shares, creating a global provider of network management and cybersecurity systems. Danaher's communications business includes the market-leading brands of Tektronix Communications, Fluke Networks, and Arbor Networks. The data cabling tools business and carrier service provider tools business of Fluke Networks will be excluded from the transaction. Danaher's communications business generated USD 836 million in revenue for thr fiscal year to end December 2013, while NetScout generated USD 397 million in revenue for the fiscal year to end March. Following the sale, Danaher executive VP James Lico will join NetScout's board of directors. The current NetScout executive team will remain in place at the combined company, including co-founder and CEO Anil Singhal. The transaction is subject to customary closing conditions, including obtaining regulatory and NetScout shareholder approval. The acquisition is expected to close next year. Until such time, the communications business will continue to operate separately from NetScout.
Tags: communications
usd
buys
ops
Qualcomm buys CSR for USD 2.5 bln
2014-10-15 09:33:00| Telecompaper Headlines
(Telecompaper) Qualcomm has agreed to acquire Wireless chip specialist CSR in a transaction valued at GBP 1.56 billion, or USD 2.5 billion, Bloomberg reported. CSR shareholders will get 900 pence per share, 37 percent than the closing share price on 14 October. CSR directors said they will recommend the offer to investors.
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