WHAT THE OTHER PAPERS SAY THIS MORNING April 29, 2010 FINANCIAL TIMES STEEL INDUSTRY SET FOR A ‘NEW VOLATILITY’ Lakshmi Mittal warned yesterday that the impending large rise in the costs of iron ore would lead to “new volatility” in the steel industry by pushing up prices of the metal in a development that could harm the competitiveness of some of ArcelorMittal’s European plants. The [...]
Usmanov cash quadruples to £4.7bn April 22, 2010 ALISHER Usmanov, Arsenal’s second largest shareholder, saw his fortune more than quadruple in the last year, according to new estimates. The figures, part of Forbes magazine’s list of the 10 richest football club moguls, show the Russian’s wealth swelled by £3.6bn to £4.7bn. That amount looks like small change, however, next to QPR shareholder Lakshmi [...]
JKX plans to double production March 30, 2010 JKX, the oil and gas producer, reported a six per cent rise in production in 2009 and promised a year of growth as it looks to nearly double its production by 2011. It said it plans to invest $230m (£152m) in its Russian and Ukrainian operations in 2010, following a fundraising in January. This year [...]
BROKER WILLS & CO OPENS FIRE ON FSA’S REGULATORY CRACKDOWN January 18, 2010 WHEREAS most City firms are content to whinge ineffectually about the Financial Services Authority’s new heavy-handed approach to regulation, it seems that others are starting to put their money where their mouth is. Rumours have been busy swirling in the Square Mile over the regulatory status of private client stockbroker Wills & Co, which can [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 3, 2010 Financial times TNK-BP STEP UP SALE OF GAS FIELD TNK-BP, BP’s Russian joint oil venture, ratcheted up the pressure for a sale of its vast Kovykta gas field on Thursday, announcing that it was pushing the unit that owns the licence to the field into bankruptcy. The move raises the stakes over the future of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 3, 2010 Financial times TNK-BP STEP UP SALE OF GAS FIELD TNK-BP, BP’s Russian joint oil venture, ratcheted up the pressure for a sale of its vast Kovykta gas field on Thursday, announcing that it was pushing the unit that owns the licence to the field into bankruptcy. The move raises the stakes over the future of [...]
Another boss to step down from TNK-BP November 11, 2009 BILLIONAIRE Mikhail Fridman yesterday said that he is likely to step down as acting chief executive of BP’s Russian joint venture TNK-BP, which will appoint a new permanent chief. The void at the helm of TNK-BP is the result of a row over strategy and control that erupted last year between BP and the four [...]
CITY MOVES | WHO’S SWITCHING JOBS April 8, 2010 Merrill Lynch Wealth Management Nick Booth has joined the wealth management firm as a business development director within the Merrill Lynch Portfolio Managers division. Booth, who will be based in Jersey, will focus on ultra high net worth clients and trust companies in the Channel Islands, working closely with the wealth structuring and advisory teams. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 14, 2010 FINANCIAL TIMES BP TO PRESS ON WITH CANADA OIL SANDS PLAN BP will press ahead with its plan to invest in Canada’s controversial oil sands, the company will signal at Thursday’s annual general meeting, in spite of protests from environmentalists and concerns among some shareholders. More than 140 investors have backed a resolution calling for [...]
Uralchem and Acision to IPO February 22, 2010 THE collapse of a string of high-profile flotations has not deterred two Russian-backed companies, Uralchem and Acision, from drawing up plans to list in London. Uralchem, Russia’s largest fertiliser manufacturer, has appointed three investment banks to advise on an initial public offering that will raise around $400m (£259m). UBS, Morgan Stanley and Renaissance Capital have [...]