Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Carlsberg toasts a swing back to Russian growth as profit jumps May 11, 2011 DANISH brewer Carlsberg yesterday said a recovery in east European demand helped drive a 38 per cent rise in first-quarter profits, endorsing its emerging market focus and sending its shares to a near-record high. The brewer met forecasts yesterday as its biggest market returned to growth and said it expected Russian beer volume to grow [...]
Don’t worry, the party in commodities isn’t over yet May 11, 2011 COMMODITIES took a big knock in the recent correction, but the fundamentals still point towards continued rises over the medium term. Assuming you aren’t planning to fill your home with sheep, soybeans and platinum, with certain provisos, commodity funds can offer you a route in. THE PARTY ISN’T OVER Investors who joined the commodity party [...]
Failed take off for float of heli firm May 10, 2011 KREMLIN-BACKED defence firm Russian Helicopters has pulled its joint Moscow and London initial public offering (IPO) after failing to find sufficient demand for its shares, sources close to the deal told City A.M. last night. Russia’s primary helicopter maker had been looking to finalise a price for its shares by today, in a sale that [...]
Failed take off for float of heli firm May 10, 2011 KREMLIN-BACKED defence firm Russian Helicopters has pulled its joint Moscow and London initial public offering (IPO) after failing to find sufficient demand for its shares, sources close to the deal told City A.M. last night. Russia’s primary helicopter maker had been looking to finalise a price for its shares by today, in a sale that [...]
New issues strive to win back trust May 10, 2011 What should we make of the London market for new issues, where private companies appeal for funds from equity investors such as BlackRock, Gartmore and the sovereign wealth houses? Currently we have the spectre of Glencore, the commodities trading group, almost effortlessly getting away an $11bn (£6.7bn) fund-raising, while smaller, less well known companies fail [...]
New issues strive to win back trust May 10, 2011 What should we make of the London market for new issues, where private companies appeal for funds from equity investors such as BlackRock, Gartmore and the sovereign wealth houses? Currently we have the spectre of Glencore, the commodities trading group, almost effortlessly getting away an $11bn (£6.7bn) fund-raising, while smaller, less well known companies fail [...]
Russian Helicopters pulls $2.4bn IPO May 10, 2011 KREMLIN-BACKED defence firm Russian Helicopters has pulled its joint Moscow and London initial public offering (IPO) after failing to find sufficient demand for its shares, a source close to the deal told City A.M. The firm becomes the latest in a string of companies, including some Russian ones, to put their London listing plans on [...]
Bumper year for Britain’s ultra wealthy May 8, 2011 BRITAIN’S ultra-wealthy have increased their collective wealth by 18 per cent on last year in a bumper year for City billionaires, according to this year’s Sunday Times Rich List. The top 1,000 multimillionaires have increased their pot by more than £60.2bn. Their total assets are now worth an astounding £395.8bn, just shy of the all-time [...]
Vincent Tchenguiz selling in St Tropez May 8, 2011 VINCENT Tchenguiz has put his luxury French villa on the market for €30m (£25m) – after spending one night there in five years of ownership. The elder brother of the Iranian-born business partnership has appointed the estate agents Knight Frank to sell the property, Villa Symphonie, in St Tropez A spokesman for Tchenguiz insisted he [...]
Ancelotti: I’m not ready to leave Chelsea or England May 8, 2011 ITALIAN’S FUTURE IN THE SPOTLIGHT AS TITLE BID IS KILLED OFF AT OLD TRAFFORD CRESTFALLEN Chelsea manager Carlo Ancelotti admits he is at the mercy of owner Roman Abramovich after his attempts at retaining the Premier League title were doomed to failure by yesterday’s decisive defeat at champions-elect Manchester United. The Italian, who achieved the [...]