CITY MOVES | WHO’S SWITCHING JOBS August 5, 2010 FTSE Group The global index provider has appointed Sudir Raju as managing director for its custom index business. Raju has worked for Dow Jones and Stoxx Indexes since 2004, latterly as leader of the Stoxx custom index business. He has a strong technical background with experience extending across index design, production, reviews and operations, as [...]
Ex-BP traders in court fight August 2, 2010 SIX former BP traders sued by the oil major for breach of contract in Singapore have applied to the court to set aside a search order that had allowed BP’s lawyers to seize their personal computers and mobile phones, according to court documents yesterday. BP has accused the six of engineering the mass departures of [...]
WHEAT PRICES SURGE August 2, 2010 WHEAT prices hit a two-year high yesterday of $7.11 (£4.47) a bushel on the Chicago Board of Trade as worsening weather continues to ravage Russia’s grain crops and heavy rains in Pakistan are estimated to have destroyed 15 per cent of that country’s crop. Wheat prices soared 42 per cent in July, the biggest monthly [...]
WHEAT PRICES SURGE August 2, 2010 WHEAT prices hit a two-year high yesterday of $7.11 (£4.47) a bushel on the Chicago Board of Trade as worsening weather continues to ravage Russia’s grain crops and heavy rains in Pakistan are estimated to have destroyed 15 per cent of that country’s crop. Wheat prices soared 42 per cent in July, the biggest monthly [...]
Silver lining for Great Britain after securing best-ever Euro medal haul August 1, 2010 GREAT BRITAIN’S athletes swept to treble medal success in Barcelona last night to secure their best-ever return at a European Championships. Martyn Rooney led home the men’s 4x400m relay team to silver in the final event of the championships, taking the medal tally to 19 over the five days, one more than achieved in Split [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 29, 2010 FINANCIAL TIMES LI KA-SHING PAYS £5.8BN FOR UK UTILITY EDF of France is set to sell its UK electricity networks business to Cheung Kong Infrastructure of Hong Kong for £5.8bn, 45 per cent more than the price originally suggested for the deal, according to a person close to the negotiations. The state-controlled French electricity group [...]
BP in Venezuelan asset sale talks with Russian JV July 29, 2010 BP IS currently negotiating a deal that could see it sell off some of its Venezuelan assets to joint venture partner TNK-BP. The Russian group, which is split between BP and a consortium of oligarchs known as AAR, is considering the South American purchase in a bid to pursue plans to expand internationally. Analysts estimate [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 28, 2010 FINANCIAL TIMES ICBC SAYS IT WILL RAISE £4.26BN Industrial and Commercial Bank of China, the world’s largest lender by market value, said yesterday it planned to raise up to £4.26bn in a rights issue in Hong Kong and Shanghai to shore up its capital base. The rights issue is the latest in a string of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 28, 2010 FINANCIAL TIMES ICBC SAYS IT WILL RAISE £4.26BN Industrial and Commercial Bank of China, the world’s largest lender by market value, said yesterday it planned to raise up to £4.26bn in a rights issue in Hong Kong and Shanghai to shore up its capital base. The rights issue is the latest in a string of [...]
Conoco says it will sell off Lukoil stake July 28, 2010 CONOCOPHILLIPS, the third-largest US oil company, yesterday said it will sell its entire stake in Russian oil major Lukoil in a bid to boost shareholder returns as it reported better-than-expected quarterly profit. The Houston company, which has a two-year plan to shrink debt by selling $10bn (£6.4bn) in assets, said it will sell 40 per [...]