Kazak miner plots to oust chairman October 2, 2011 HEADHUNTERS have been called in to find a new chairman for the Eurasian Natural Resources Company (ENRC), despite confirming the incumbent Johannes Sittard in the role in its corporate governance review last Wednesday. The FTSE 100 Kazakstan mining company last week said it was “fully supportive” of the board-level reshuffle that kept Sittard at the [...]
Traders need to insure against the downside October 2, 2011 EXCUSES, excuses followed by more excuses. When is the broader asset management industry going to put its hands up and say; “We were wrong,” or “I’m going to fall on my sword, sell my five houses on the Wentworth Estate and distribute the proceeds amongst those foolhardy enough to believe I could make them money?” [...]
Asian buyers show thirst for expensive wine October 2, 2011 PLUNGING global markets and deepening fears of another world recession failed to dampen Asian buyers’ thirst for vintage wines at Sotheby’s October wine auction in Hong Kong. The two-day event held from 1-2 October put rare Imperials of Chateau Lafite, Latour and Cheval Blanc and Jeroboams of Mouton and Haut Brion under the hammer, as [...]
Rail fares wipe benefit of commuting October 2, 2011 The projected eight per cent rise in rail fares next year looks set to tip the balance of affordability against young professional families and first time city buyers seeking to move out of London. Research from home finders County Homesearch found the combined cost of travel season tickets and mortgage repayments for homeowners in commuter [...]
Gazprom weighing new Turkey deals October 2, 2011 Russia’s Gazprom is mulling new deals in Turkey after it received notification from Turkish state pipeline company Botas that it had decided to end a contract to buy 6 billion cubic metres (bcm) of gas annually, a Gazprom source said yesterday. Botas decided to end the contract to receive gas via the so-called western line [...]
House prices to be hit by slow demand October 2, 2011 SINKING demand from a cash-strapped population is set to send house prices tumbling in the coming months, according to the latest survey from Hometrack, released today. The number of prospective house-buyers fell in August and September, while supply has outstripped demand so far this year. “Continuing economic uncertainty both at home and in the Eurozone [...]
Manufacturers call for action over regulation October 2, 2011 MANUFACTURERS will today set out a “shopping list” of important ways that the government can avoid stifling the industry with red tape. The coalition must stand up against regulations emanating from Brussels, while modifying its own plans for fresh regulations, the manufacturers group EEF is expected to say. The new Agency Workers Directive will increase [...]
Technology can increase flexibility during Games October 2, 2011 Q&A: London 2012 TIME TO GET READY Q. OUR EMPLOYEES RELY HEAVILY ON FACE-TO-FACE MEETINGS IN OUR OFFICE . HOW CAN WE MANAGE THIS WITHOUT LOSING BUSINESS? A. During the Olympic and Paralympic Games, the transport network will be much busier than normal. This will have a big impact on employees and clients, particularly when [...]
CITY MOVES | WHO’S SWITCHING JOBS October 2, 2011 Baker & McKenzie Gavin Bushell, formerly of Freshfields Bruckhaus Deringer, has been appointed as a partner in the law firm’s European & Competition Law Practice, based in Brussels. Bushell specialises in EU competition and state aid law, Euratom Treaty law, aviation law and regulation, and litigation before the European Courts in Luxembourg. He was recently [...]
BEST OF THE BROKERS October 2, 2011 HENNES & MAURITZ JP Morgan Cazenove rates the Swedish clothing retailer as “underweight” with a target price of Skr195.80 (£18.29), issuing an alert as it sees gross margin risks accelerate. The broker says H&M has entered the fourth quarter with very high inventories, with like-for-like sales deteriorating in the first month. With the implication that [...]
