Evraz sells iron ore mine for £12m September 19, 2013 FTSE 250 Russian steelmaker Evraz yesterday said it has sold its iron ore mining and processing plant subsidiary to NPRO Ural for $20m (£12.4m), as part of its plan to divest non-core assets to cut costs. In addition, Evraz will pay up to $12.4m to the subsidiary “for the purpose of normalising the working capital” [...]
G4S extends Baghdad contract September 19, 2013 FTSE 100 security firm G4S yesterday announced that it has extended its contract with Baghdad International Airport for another two years, in a deal valued at $22.5m (£14m) per year. G4S has a team of over 840 employees working at the airport to provide security. “We have worked hard to help the team at the [...]
Arip to take part in Exillon auction September 19, 2013 Maksat Arip, the founder of Russian oil producer Exillon Energy, yesterday said he planned to take part in the sale process for the company after its directors gave the sale the green light on Wednesday. Arip, the company’s largest shareholder with a 30.17 per cent stake, had initially approached the company in late July. Arip [...]
City Moves for 20 September 2013 | Who’s switching jobs September 19, 2013 Brown Rudnick The law firm has announced the appointment of Sophie McGrath as a partner in its corporate team. McGrath joins from Morrison & Foerster, where she specialised in the venture capital and private equity sectors, and was responsible for advising on traditional exit strategies. Arbuthnot Latham The private bank has recruited Richard Kay as a [...]
CSR Award Nominations Shortlist September 19, 2013 There’s a new line in business that’s paying real dividends. UK plc is doing good business by doing good. Not some wishy-washy charity glad-handing, but a more enlightened commercial approach. It’s adding to the bottom-line in terms of employee motivation and retention, brand profile and competitive edge. On the other side of the deal, it’s [...]
Lufthansa buys new Airbus and Boeing planes September 19, 2013 LUFTHANSA has unveiled a €14bn (£11.8bn) order for 59 wide-body jets, split between Airbus and Boeing to replace its ageing fleet as it fights to win customers from fast-growing Middle East and low-cost rivals. Yesterday’s deal will see Lufthansa launch a new and larger version of Boeing’s 777 long-range jet and expands on a sweeping [...]
The boss behind Nintendo’s gaming success dies aged 85 September 19, 2013 THE MAN who made Zelda, Donkey Kong and the Mario brothers famous died yesterday at the age of 85. Nintendo said yesterday it was mourning the “loss of the former president Mr Hiroshi Yamauchi, who sadly passed away this morning.” Yamauchi, who succeeded his grandfather at the company when it was still a playing card [...]
Northgate van rentals accelerate September 19, 2013 Van rental group Northgate’s sales were up in both Britain and Spain over the summer. From April to September, Northgate rentals in the UK increased from 43,100 to 44,700. The numbers of vehicles in the fleet increased by two per cent. In Spain, rentals rose from 32,100 in April to 33,400 in September. “This was [...]
Land Sec raises stake in leisure September 19, 2013 Land Securities has spent £104m on raising its stake in the X-Leisure Unit Trust, a fund with investments in Brighton Marina and the X-Scape indoor skiing centre in Milton Keynes. The company has steadily boosted its holding from the 12 per cent it bought last year to 95 per cent yesterday. “Eighteen months ago Land [...]
Accsys arbitration case battles on September 19, 2013 Aim-listed wood hardening technology firm Accsys Technologies yesterday said it remains “extremely confident” that arbitration brought against it by Diamond Wood China would end in its favour. Diamond Wood is seeking damages in excess of €140m (£118m) after Accsys terminated its contract but a source close to Accsys – which is run by the brother [...]
