Egypt weighs election complaints May 27, 2012 Egypt’s election committee was yesterday fielding complaints about a presidential poll that has left voters with what many see as a painful run-off choice between an Islamist apparatchik and a throwback to Hosni Mubarak’s era. Both contenders are seeking to lay claim to the mantle of the “revolution” that toppled Mubarak 15 months ago, and [...]
Evonik to list within a month May 27, 2012 The owners of Evonik plans to list the shares of the specialty chemicals company on the Frankfurt stock exchange within the next month, in what will likely be one of the largest German share offerings this summer. Evonik is pressing ahead after earlier in the week signalling it may delay the offering amid Eurozone market [...]
Glenstrata boss Davis set for a loyalty bonus May 27, 2012 THE chief executive of Xstrata is set to line up a major retention bonus when a circular explaining the miner’s $90bn (£57bn) merger with Glencore is published this week. Mick Davis is expected to be allocated a retention bonus worth tens of millions of dollars if he stays with the enlarged group for three years. [...]
Codelco sticks to its guns in Anglo dispute May 27, 2012 ANGLO American’s hopes of a swift end to its Chilean fight faded yesterday after the boss of Codelco signalled there will be no change in the Chilean state copper giant’s attitude toward its right to acquire 49 per cent of Anglo American’s assets in Chile. Thomas Keller, who is set to take the helm of [...]
Graff gets lots of interest in its $1bn float May 27, 2012 THE Mayfair-based luxury jeweller Graff Diamonds has seen tremendous interest for its Hong Kong IPO of up to $1bn (£640m), sources close to the company said this weekend. Graff’s flotation is entering its final stretch in the shadow of a global stock market rout. Famous for its giant and rare gems, Graff will today test [...]
Soho House group to open five new venues after profits surge May 27, 2012 SOHO House Group, a members-only chain of luxury clubs, has confirmed ambitious plans to open five new venues by 2014 after reporting a jump in full-year revenue and profits. The owner of Shoreditch House and Dean Street Townhouse in London, which famously shuns City executives in favour of artists, said yesterday it will open new [...]
Intermediate Capital eyes up Symington May 27, 2012 INTERMEDIATE Capital Group is thought to be eyeing up a big stake in food maker Symington. The London-listed group is believed to be in talks with Leeds-based Symington, which is currently owned by Bridgepoint, about providing investment to help fund expansion plans. Symington is hoping to buy up products in order to expand, with Angel [...]
WesternZagros considering a London listing May 27, 2012 CANADIAN oil explorer WesternZagros Resources is considering a London listing in a bid to increase the valuation of its oil and gas assets. The board of the Calgary-based company, which has assets in the Kurdistan region of northern Iraq, is in discussions over whether to have a dual listing and whether the company would need [...]
Woodford to ask for $60m as Olympus tribunal set to begin May 27, 2012 FORMER Olympus boss Michael Woodford will demand up to $60m (£38.2m) from the disgraced Japanese technology company today when he begins his claim for unfair dismissal. Woodford is expected to sue for up to 10 years’ lost salary unless a settlement is agreed. He was sacked in October last year after questioning a string of [...]
Japanese chipmaker Renesas cuts 12,000 jobs and sells units May 27, 2012 JAPANESE chipmaker Renesas Electronics plans to sell off loss-making operations and cut its payroll by at least 12,000, a source close to the matter said over the weekend, as the company battles high costs and nimbler foreign rivals. Sources also confirmed that Renesas, the world’s largest maker of microcontroller chips for cars, aims to raise [...]
