TNK-BP inks $1bn Brazil deal October 31, 2011 BRAZILIAN oil start-up HRT said yesterday it signed a $1bn (£619.4m) agreement with BP’s Anglo-Russian oil joint venture TNK-BP for the sale of a stake in oil fields in the Amazon. HRT said it would receive the funds over two years for the sale of a 45 per cent stake in 21 exploratory blocks located [...]
Miners peg back markets October 31, 2011 European shares fell early in the session with miners hurt by falling metals prices while the afterglow of last week’s Eurozone debt deal began to fade. Miners were dented by Japan wading into the currency markets to rein in the value of the soaring yen, which sent the dollar up. A stronger dollar makes dollar-priced [...]
BEST OF THE BROKERS October 30, 2011 ELAN Credit Suisse rates the Irish drug firm as “outperform” with a target price of €8.60 (£7.56). The company posted slightly lower than expected third quarter sales, but the broker says this is entirely due to lower sales from its drug technologies division, ahead of its divestment. The company’s underlying net patient add trend was [...]
Chelsea Pitch Owners reject club’s attempt to buy back stadium freehold as board members forced to endure a fractious extraordinary general meeting October 27, 2011 CHELSEA owner Roman Abramovich suffered an embarrassing defeat yesterday and was sent back to the drawing board as fans railed against his bid to buy the land on which Stamford Bridge sits. The billionaire Russian oligarch and his board were forced to rethink their proposal to Chelsea Pitch Owners, which was seen as the first [...]
Chelsea Pitch Owners reject club’s attempt to buy back stadium freehold as board members forced to endure a fractious extraordinary general meeting October 27, 2011 CHELSEA owner Roman Abramovich suffered an embarrassing defeat yesterday and was sent back to the drawing board as fans railed against his bid to buy the land on which Stamford Bridge sits. The billionaire Russian oligarch and his board were forced to rethink their proposal to Chelsea Pitch Owners, which was seen as the first [...]
LONDONERS’ CHARM IS A SERVICE FOR WEALTHY October 27, 2011 WHERE THE wealth lies and, more importantly, how to persuade customers to part with it was the theme of the Wealth Summit run by monthly magazine Luxury Briefing in association with City A.M. Master of ceremonies was James Reatchlous, who bought Luxury Briefing from Princess Alexandra’s son James Ogilvy in 2009 before expanding into spin-offs [...]
Disney buys stake in a Russian firm October 27, 2011 MICKEY Mouse will have to take a crash course in Russian after Walt Disney announced it will expand its presence in the country. The firm will launch a free Disney Channel that will reach about 40m households in one of the world’s fast-growing entertainment markets. The decision followed a meeting between chief executive Bob Iger [...]
Eastern promise offered by Park and Arshavin October 25, 2011 ARSENAL 2 vs BOLTON 1 ARSENAL manager Arsene Wenger believes Park Chu-Young is ready to make a significant impact in the Premier League after the Korea international struck his first goal for the club in last night’s Carling Cup win over Bolton. The Trotters stunned an impressive crowd of over 56,000 at Emirates Stadium with [...]
BP puts $15bn more assets on the block October 25, 2011 BP has reached “a definite turning point” since last year’s Gulf of Mexico disaster, its chief executive said yesterday as he announced plans to expand its disposal programme to $45bn (£28bn), double its cash flow, and boost returns to shareholders. Chief executive Bob Dudley said the oil major would sell-off a further $15bn in assets [...]
Polyus Gold delays London listing October 25, 2011 RUSSIA’S biggest gold miner shelved its plans to list on the London Stock Exchange yesterday, saying the Russian government had delayed giving its consent to the deal. Polyus Gold, which is headed by billionaire oligarch Mikhail Prokhorov, said it had postponed its main market listing until a Russian government commission approved its plans. “The company [...]