FSA fines ex Sibir chief for market abuse July 6, 2010 A DAMAGING corporate ruse was finally rumbled yesterday after the City regulator slapped a £350,000 fine on Henry Cameron, the former chief executive of oil company Sibir Energy. Last year, Sibir was embroiled in controversy over debts owed to the company by Russian tycoon Chalva Tchigirinski, one of its major shareholders. Sibir informed the market [...]
CITY MOVES | WHO’S SWITCHING JOBS August 5, 2010 FTSE Group The global index provider has appointed Sudir Raju as managing director for its custom index business. Raju has worked for Dow Jones and Stoxx Indexes since 2004, latterly as leader of the Stoxx custom index business. He has a strong technical background with experience extending across index design, production, reviews and operations, as [...]
More to Russia than gas July 20, 2010 FOR years, investment in Russia has meant little more than investment in commodities and energy. And while those sectors still make up a huge proportion of the country’s wealth, those trying to target high-return emerging market growth in Russia should steer clear of the usual country wide benchmarks. Renaissance Capital’s Karol Chrystowski says: “Most of [...]
More to Russia than gas July 20, 2010 FOR years, investment in Russia has meant little more than investment in commodities and energy. And while those sectors still make up a huge proportion of the country’s wealth, those trying to target high-return emerging market growth in Russia should steer clear of the usual country wide benchmarks. Renaissance Capital’s Karol Chrystowski says: “Most of [...]
BP hopes to double oil captured June 7, 2010 EMBATTLED oil major BP could soon siphon off up to 20,000 barrels a day from its leaking well in the Gulf of Mexico – twice the amount it is currently collecting. US Coast Guard Admiral Thad Allen, who is leading the operation for the American government, said that BP could contain twice as much oil [...]
BP hopes to double oil captured June 7, 2010 EMBATTLED oil major BP could soon siphon off up to 20,000 barrels a day from its leaking well in the Gulf of Mexico – twice the amount it is currently collecting. US Coast Guard Admiral Thad Allen, who is leading the operation for the American government, said that BP could contain twice as much oil [...]
Spill liabilities expected to reach $30bn July 25, 2010 BP IS expected to reveal that liabilities connected to the Gulf of Mexico spill have reached $30bn (£20bn) when it announces second quarter results tomorrow. The group has already ring-fenced $20bn into an escrow fund to help pay out liabilities and claims, but it is expected that all legal, clean up and fine related costs [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 11, 2010 FINANCIAL TIMES PUSH FOR CLEARING HOUSES FAILS TO MOVE OIL TRADERS Big oil traders are choosing to keep more derivatives deals private, in spite of a global regulatory campaign to steer such contracts to clearing houses. Their willingness to take on risks viewed as intolerable just a year ago reflects renewed faith in the strength [...]
White House hits out over yachting race June 20, 2010 THE WHITE House has hit out at BP chief executive Tony Hayward, who was spotted on his yacht just off the Isle of Wight over the weekend. US President Barack Obama’s chief of staff, Rham Emanuel said that Hayward’s trip was “part of a long line of PR gaffes and mistakes”. He said: “To quote [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 28, 2010 FINANCIAL TIMES ICBC SAYS IT WILL RAISE £4.26BN Industrial and Commercial Bank of China, the world’s largest lender by market value, said yesterday it planned to raise up to £4.26bn in a rights issue in Hong Kong and Shanghai to shore up its capital base. The rights issue is the latest in a string of [...]