Evraz raises prospect of Severstal merger
Evraz has raised the possibility of a merger with Severstal in a deal that would unite Russia’s two biggest steelmakers to create the world’s eighth-largest producer by output, with a combined market capitalisation of £12bn. Alexander Abramov, Evraz’s chairman and founder, said in an interview with the Financial Times that uniting the two businesses would be a “good idea”.
BG prepares to sell $600m stake in Gujarat Gas
BG, the oil and gas producer, has lined up Citigroup to advise on a potential sale of its stake in Gujarat Gas in a deal that could raise about $600m, say people familiar with the matter. It comes as the explorer looks to raise capital and as part of a review of its global portfolio amid speculation of plans to divest a stake in its Brazilian operations.
Call of Duty sales outstrip blockbuster films
Call of Duty: Modern Warfare 3, the latest instalment in Activision Blizzard’s hit war-game franchise, has realised $1bn-worth of sales in 16 days, outpacing blockbuster movies including Avatar and Harry Potter, but marking a slowdown after its record-breaking first week.
Feminists claim victory in toy signs fight
Feminist groups are claiming victory in a campaign against gender stereotyping in Hamleys, the London toy shop, which has changed the signs in its girls’ and boys’ toy departments to reflect particular types of toys, rather than who should be playing with them. Blue signs marked “Boys” had previously directed shoppers to the fifth floor of its flagship store to buy action and war-themed toys.
Anglian is accused of playing monopoly over water supplies
A planned housing development outside Milton Keynes has become the unwitting scene of a water industry row that strikes at the heart of government plans to open up the market to competition. Anglian Water was handed a statement of objections by Ofwat yesterday — effectively a charge sheet of alleged misdemeanours — over a stalled property development called Fairfields.
Russian billionaire playboy seeks to challenge Putin for presidency
Mikhail Prokhorov, the Russian billionaire, is to stand against Vladimir Putin to be the next President of Russia, he announced yesterday. The country’s third-richest man pledged to gather two million signatures to qualify for the ballot, declaring: “My base is the middle class.”
The Daily Telegraph
Fears grow over the future of 5,500 high street shops
One of the UK’s largest property companies has drawn up a confidential list of struggling retailers amid fears that more than 5,500 shops in Britain could be handed back to landlords or closed within months. The property company is one of a number to have identified a collection of retailers suffering from poor trading and another group facing liquidity pressures.
MPs' salaries could be boosted with allowances
MPs’ salaries should be boosted with flat-rate allowances worth tens of thousands of pounds a year to fund second homes and travel, a MPs’ committee has suggested. The Committee on Members’ Expenses also recommended that MPs should be given back the power to scrutinise their own expenses.
THE WALL STREET JOURNAL
Canada Pulls Out of Kyoto Climate Pact
The Canadian government said Monday it was formally withdrawing from the Kyoto protocol on climate change-the first country to do so-though it said it would honor a separate, carbon-reducing agreement reached over the weekend in Durban, South Africa. The move had been telegraphed by Canadian officials for weeks. Canada’s environment minister Peter Kent made the announcement yesterday afternoon.
AT&T May Recut T-Mobile Deal
AT&T and Deutsche Telekom AG edged closer to abandoning AT&T’s $39 billion acquisition of T-Mobile USA in its current form, putting a court fight with the Justice Department on hold as they focus on coming up with alternatives to the deal.