The brothers who love the high life March 9, 2011 VINCENT Tchenguiz’s 40ft yacht lies empty at a port in Cannes, a party scheduled for tonight on indefinite hold after his arrest. Its bombastic name, Veni Vidi Vici, has been the source of some amusement since the brothers’ vast empire began to unravel in the wake of the recession. If things continue as they have [...]
Shares take fright over Libya turmoil February 21, 2011 THE FTSE 100 closed at a two-week low yesterday after another day of chaos in Libya sent investors running for cover. The blue-chip index shed 1.1 per cent to close at 6,014.8 as fears over energy supplies sapped investor’s appetite for risk. Shares of blue-chip firms across Europe felt the bite, with banks and miners [...]
Cameron appeals to China over exchange rate November 10, 2010 Prime Minister David Cameron pledged to fight trade protectionism ahead of the G20 meeting, but urged China to move towards greater exchange rate flexibility to safeguard the global recovery. In a meeting with China’s President Hu Jintao in the Great Hall of the People, the two leaders stressed again the importance of developing Britain’s relationship [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 19, 2010 FINANCIAL TIMES INDIAN OIL PLANS RECORD $4.3BN IPO Indian Oil plans to raise a record Rs190bn ($4.3bn, £2.73bn) by selling 20 per cent of its shares in what would be India’s biggest IPO, as several state-run groups are rushing to tap the nation’s booming equity market. Sumit Bose, India’s minister of disinvestment, said yesterday that [...]
Alex out for three weeks October 5, 2010 FOOTBALL: Chelsea defender Alex is facing a three-week lay-off after sustaining a thigh injury in the final stages of Sunday’s game with Arsenal. The centre back picked up the injury after scoring a spectacular 85th-minute free-kick which clinched a 2-0 win. He has withdrawn from Brazil’s forthcoming internationals with Iran and Ukraine and is set [...]
Shell stops selling oil to Iran March 10, 2010 Oil major Royal Dutch Shell has stopped gasoline sales to Iran, it said yesterday, the latest addition to a growing list of firms that have halted supplies under threat of future US sanctions. The Anglo-Dutch oil firm will join the likes of BP, Reliance Industries, and independent Swiss trader Glencore, among suppliers that have either [...]
Turkey’s star is still rising for ETF investors November 3, 2010 WITH a near-record 18 IMF bailouts, Turkey might not seem like a smart investment to the untrained eye. But in just a decade the country has gone from a basket-case to a fully-fledged bull market. At this rate the country is tipped to grow faster than China in the next decade. News like this has [...]
Barclays pays £190m to settle US sanctions case August 16, 2010 BARCLAYS Bank has agreed to pay $298m (£190m) to settle criminal charges that it violated US sanctions in dealings with Cuba, Iran, Libya, Sudan and Myanmar, according to US court documents filed yesterday. The bank was charged with violating the International Emergency Economic Powers Act and the Trading with the Enemy Act in its dealings [...]
Sorrell: I am a Luvvy for the Brics August 24, 2010 WPP yesterday upgraded its expectations for the global economy from a“Luv” to a “Luvvy”. The firm split its expectations for the pace of the global recovery into three sections: Western Europe, the US and the Bric nations (Brazil, Russia, India and China). It predicted the recovery in Western Europe would be formed by a sharp [...]
Iran shuts down Google mail February 10, 2010 The Iranian government said yesterday it will permanently suspend Google’s email service in the country. Iran’s telecommunications agency announced the suspension and said a national email service for Iranian citizens would soon be rolled out. The report comes as Iran braces for disruptions at rallies planned for today marking the 1979 Islamic revolution. Opposition leaders [...]