Alcoa said today it expects its joint shareholding in Rio Tinto to be transferred promptly and smoothly from a custodial account with Lehman Brothers International Europe in London to a custodial account with another nominee unaffiliated with Lehman Brothers. Alcoa said it is working closely with administrators of Lehman Brothers International Europe and with Chinalco, [...]
For private investors large and small, as well as institutions, precious metals are, and continue to be the safe haven for investors in turbulent financial and uncertain national and geo-political times. “Nationally and globally speaking, the markets have never been more ripe or primed for investors seeking a safe place for their money that supports [...]
As America’s top financial officials updated Congress on their proposed $700 billion plan to rescue the stressed financial markets, oil prices stabilized, for now, towards the $100 a barrel mark today after rising rapidly on Monday. Emerging market experts, tracking the fluctuating prices, were generally optimistic on the long-term stability of energy-heavy economies such as [...]
egacy Reserves LP announced that it has no hedging or other contractual counterparty exposure to Lehman Brothers Holdings Inc., its subsidiaries or its affiliates.
Legacy is an independent oil and natural gas limited partnership headquartered in Midland, Texas, focused on the acquisition and development of oil and natural gas properties primarily located in the Permian [...]
Shares of Evergreen Solar Inc. shot up after the solar panel producer signed two long-term sales contracts.
Evergreen rose $2.06, or 20.1 percent, to close at $12.30.
Lehman Brothers analyst Vishal Shah raised his target price on the stock and predicted his Wall Street colleagues will soon raise their earnings forecasts for the company as well. That [...]
A Lehman Brothers survey of 398 companies finds spending for oil and gas exploration and production this year will increase 20 percent worldwide to $418 billion from $349 billion in 2007.
Among the key findings: substantial acceleration in North American planned spending. Expenditures are expected to rise 15 percent in the U.S., to $98 billion, and [...]
Crude-oil inventories dropped last week for the third straight period, down by 4.8 million barrels to 306.8 million barrels — 11.8 percent below year-ago levels, the Energy Department’s Energy Information Administration said in its weekly report.
Analysts expected a gain of 2.7 million barrels, according to a survey by Platts, the energy research arm of McGraw-Hill [...]
Investors on Friday rewarded Joy Global Inc., which makes mining equipment, for a fiscal second-quarter profit that easily topped Wall Street expectations. The stock peaked at a new year high.
Net income for the three months ended May 2 fell to $72.1 million, or 66 cents per share, from $77.6 million, or 70 cents per share, [...]
Sterlite Industries (India) Limited (“Sterlite”), a subsidiary of Vedanta Resources plc, the London-based FTSE 100 metal and mining group, and ASARCO LLC (“Asarco”), a Tucson based mining, smelting and refining company, announced today that they have signed a definitive agreement for the sale to Sterlite of substantially all the operating assets of Asarco for $2.6 [...]
Shares of oil refiners fell, as concern grew among analysts and investors that high gasoline pump prices are putting a big crimp in fuel demand.
In a note to investors, Lehman Brothers analyst Paul Cheng cited fresh data from the Department of Energy and the Federal Highway Administration as further evidence to support his bearish view [...]
