DAILY BRIEFING: Platinum miner Lonmin in profit for first time since 2013 ahead of Sibanye-Stillwater takeover
Platinum producer Lonmin made £53m in the year to the end of September
MINING PROFIT Platinum producer Lonmin has made an annual pre-tax profit for the first time since 2013.
It made £53million in the year to the end of September, up from a loss of £939million last year.
It is being bought by South Africa’s Sibanye-Stillwater in a £285million deal.
OIL DIVI Explorer Tullow Oil will start paying investors a dividend again from 2019, handing out at least £78million for a yield of around 3 per cent.
IRON WORK Miner Rio Tinto will spend more than £2billion on building its most technologically advanced mine in Western Australia, with work due to start next year.
SOLDIER DEAL Tech firm Microsoft has won a £375million contract from the US military to supply 2,500 augmented reality headsets to soldiers.
APPLE SALES Top Apple executive Greg Joswiak says the new iPhone XR is its best seller ever, denying rumours of a slump after reports that parts suppliers are expecting lower demand.
ALLIANCE PLEDGE Car makers Renault, Mitsubishi and Nissan have reaffirmed their commitment to their 1999 alliance, despite the arrest of boss Carlos Ghosn.
AIR BOOST Passenger numbers at Gatwick Airport grew 0.5 per cent to 26.5m in the six months to September 30, compared with a year earlier. Revenue increased 5.4 per cent to £512.5million while profits fell 1 per cent to £139.1million.
ASIA START Toy seller Hamleys has opened its first store in Japan and plans 30 more in east Asia.
TSB SLUMP Customers of TSB have given damning reviews of the bank, as it fell to the bottom of Which?’s satisfaction surveys. Digital-only bank Monzo came top.
AMAZON PROBE Germany’s competition watchdog is probing Amazon after complaints that the online shopping giant is piling unfair charges on companies which sell their goods through its website.
JOBS AXE Pharma group Bayer is axing 12,000 jobs and selling some businesses after its £49billion takeover of seed company Monsanto went disastrously wrong.
It will divest its animal health division, seek a buyer for its 60 per cent stake in German group Currenta and is looking at options for its consumer health unit.
DRINKS FIZZ Pepsi maker Britvic posted higher than expected profits as its low and no-sugar drinks proved a hit.
Revenues climbed 5.1 per cent to £5.2billion in the year to November 29. Profits rose 5 per cent to £146million.