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 [...]
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 [...]
Gazprom third quarter profits up on joint ventures and currencies February 1, 2010 Russian state-run energy company Gazprom posted a forecast-beating 33 per cent rise in third-quarter net profit, thanks to successful investments in jointly controlled entities and a foreign exchange gain. Gazprom’s shares closed up 1.8 per cent at 189.85 roubles (£3.93) on Moscow’s MICEX, bucking a downward trend on the broader market, where the oil and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 28, 2010 FINANCIAL TIMES VEKSELBERG FACES RECORD FINE IN OERLIKON CASE Swiss authorities are seeking to impose a record SFr120m ($114m) fine on Russian oligarch Viktor Vekselberg and two Austrian investors for allegedly breaching reporting rules in building stakes in the troubled Oerlikon industrial group. The fine – which was announced on Thursday – was immediately rejected [...]
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 [...]
Oleg Deripaska cancels 2007 deal to acquire Russneft firm January 10, 2010 Russian tycoon Oleg Deripaska has pulled out of a deal struck in 2007 to acquire oil firm Russneft from its founder, Mikhail Gutseriyev. The deal was reversed because Deripaska failed to win permission from the Russian government’s commission on foreign investment in strategic industries. Approval from the commission, chaired by Russian prime minister Vladimir Putin, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 7, 2010 FINANCIAL TIMES INEOS PUTS IPO ON BACK BURNER Ineos, the world’s third-largest chemicals producer, has put on ice exploratory work for an initial public offering, according to people close to the situation. A listing, which would have been among the largest by a UK company, was one of a range of options that had been [...]
Russian oil explorer Exillon Energy to raise £62m in rare London flotation December 14, 2009 OIL explorer Exillon Energy is to raise about £62m in the first London stock market flotation by a Russian company since the financial crisis began. Exillon, which has operations in the Western Siberia and Komi regions of northern Russia, plans to place 40.5 million shares at 153p each. The IPO represents just under a third [...]
CITY MOVES | WHO’S SWITCHING JOBS December 13, 2009 RBC Wealth Management RBC Wealth Management has hired Shervin Mellegard, Samuel Palmer and Neil Jeffries as a managing director, director and wealth manager respectively in the UK domestic team. Mellegard, pictured, has over 20 years of experience in financial services, with his career having spanned commodities futures and securities trading at Merrill Lynch to private [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 26, 2009 FINANCIAL TIMES US RETAILERS TURN TO SOCIAL MEDIA ON “BLACK FRIDAY”US retailers will on Friday unleash a traditional barrage of post-Thanksgiving holiday shopping promotions, with the National Retail Federation expecting 134m Americans to head for the stores. This year however, the retailers have reinforced their traditional efforts with a new array of social-networking weapons including [...]