Indy extends Lebedev deadline February 15, 2010 Publishing group Independent News & Media said yesterday it had extended talks with Russian billionaire Alexander Lebedev over the future ownership of its two loss-making national newspapers. The group, which entered into an exclusive non-binding agreement with Lebedev regarding its titles in December, extended the deadline to 26 Feb to bring discussions to a successful [...]
Lebedev close to Independent buyout with competition request February 25, 2010 RUSSIAN oligarch Alexander Lebedev and Independent News & Media (IMN) have approached the Office of Fair Trading (OFT) over the planned sale of The Independent newspapers. In a move indicating an imminent deal, the submission invited competition-related comment on the “anticipated acquisition of The Independent and The Independent on Sunday by Lebedev Holdings Limited”. Exclusive [...]
Rusal off to a slippery start January 27, 2010 RUSAL, the Russian aluminium producer owned by oligarch Oleg Deripaska, suffered a rough debut on the Hong Kong Stock Exchange yesterday after its $2.2bn (£1.4bn) float. The company’s shares tumbled 11 per cent to HK$9.66 from their listing price of HK$10.80. Analysts attributed the poor performance to market worries over Rusal’s $14.9bn debt pile and [...]
Deripaska plans second IPO for 2010 February 15, 2010 OLEG Deripaska, chief executive officer of Rusal, is planning an initial public offering of his power company, Eurosibenergo. The IPO is expected to take place in Hong Kong, where the Russian billionaire listed Rusal, the aluminium producer, in January this year. Since the flotation shares have tumbled 20 per cent and many in the City [...]
FORTY YEARS ON AND WE SEEM TO HAVE LEARNED VERY FEW LESSONS May 24, 2010 WHEN you are older than God, as I am, I think you tend to become rather blasé as yet another political or financial crisis unfolds. I was 23 and working as an impecunious bank clerk at Hill Samuel (now part of Lloyds Banking Group, for the youth among you) when I was exposed to my [...]
Lebedev misses Indie deadline February 15, 2010 THE deadline for talks on Russian billionaire Alexander Lebedev’s proposed takeover of Independent News & Media’s UK national newspapers, due today, is expected to be missed. Long-running talks to acquire the Independent newspaper titles have not progressed as quickly as hoped, held back by issues thought to include a printing contract with Trinity Mirror that [...]
Rexam slashes Russian output August 3, 2009 Rexam, the world’s biggest drinks can maker, said yesterday that it will cease its operations at its Russian Dmitrov plant, after the global economic downturn saw demand in the region plummet. The closure will reduce output by 1.3bn cans per year.
Rusal’s float goes sour as shares plunge February 18, 2010 Shares in Rusal tumbled nearly seven per cent yesterday, meaning the world’s largest aluminium producer has shed more than a third of its initial public offering (IPO) price in a month. Ever-present uncertainties surrounding the group’s chief executive and major shareholder Oleg Deripaska which caused retail investors to be banned from the original float are [...]
Pavlyuchenko on mark again but injury sours Spurs’ day February 28, 2010 TOTTENHAM manager Harry Redknapp is facing a central midfield injury crisis that threatens to derail their challenge for a top-four finish. Goals from Roman Pavlyuchenko and Luka Modric earned victory over in-form Everton and ensured Spurs climbed back above Manchester City into fourth place. But the win came at a cost, with Tom Huddlestone joining [...]
Profits back in fashion for Zara owner March 17, 2010 THE owner of the Zara fashion chain yesterday reported a five per cent rise in profits, fuelled by hundreds of store openings last year. Inditex’s net profit hit £1.17bn in the year to 31 January. The company opened 343 new stores last year which helped to drive sales. The Spanish firm – which sees 70 [...]