Exxon gets low compensation from Venezuela January 2, 2012 AN arbitration panel has awarded US oil giant Exxon Mobil $908m (£586m) in compensation for Venezuela’s 2007 nationalisation of its assets, less than 10 per cent of what the firm sought in its legal battle with the Opec nation. Venezuelan President Hugo Chavez likely will celebrate the ruling as a vindication of his confrontation with [...]
Hedgie star Harding set for windfall as he beats slump January 2, 2012 THE HEDGE fund run by “black box” pioneer David Harding (pictured, right) has emerged as one of the few major winners after a dire year for the industry. Winton Capital’s futures fund returned 6.3 per cent in 2011, according to provisional figures seen by City A.M. This contrasts with the average hedge fund’s 4.45 per [...]
Lufthansa says EU carbon plan will raise prices January 2, 2012 GERMANY’S Lufthansa told passengers yesterday to brace for higher ticket prices as it refuses to shoulder the costs of a carbon trading scheme at the centre of a brewing trade spat. The world’s second largest long-haul carrier said it faced €130m (£108m) in extra costs this year and became the first major operator to announce [...]
WANEY SEES IN 2012 AT NEW YEAR’S EVE CONGA January 2, 2012 DILEMMAS, dilemmas. Should one have accepted the invitation to see in 2012 with Microsoft co-founder Paul Allen at Roman Abramovich’s £5m party on the Caribbean island of St Barts? Or should one have saved oneself the bother of a plane journey and make an appearance at restaurateur Arjun Waney’s New Year’s Eve party at his [...]
BILL OF THE WEEK January 2, 2012 WHY BUY one case of finest Bordeaux when you can buy 61? So thought one commodities trader at a major European bank, who spent £81,150 buying the entire 1855 collection from the international wine merchants Fine + Rare. Like a high-end pub crawl, except with a case of the 2009 vintage from each of the [...]
80-year-old Murdoch sends his first tweet January 2, 2012 OLD and new media were brought together over the new year as Rupert Murdoch, the 80-year old behind News International, joined Twitter. Murdoch, who has already amassed over 66,000 followers, used the social networking tool to wish everyone well for the year ahead, tweeting [all tweets verbatim]: “Happy 2012. May itbe better than all experts [...]
Record-breaking Adele fails to save UK music industry January 2, 2012 MUSIC sales in the UK continued their downward slide last year despite an increase in digital sales, industry body BPI said yesterday, as it blamed the government for failing to tackle piracy. The voice of the British music industry – and the force behind the Brit Awards – yesterday released figures from The Official Charts [...]
South Korean firms warn of difficult 2012 January 2, 2012 TECHNOLOGY giant Samsung and car manufacturer Hyundai, South Korea’s largest companies, rallied staff yesterday to brace themselves for a year of intense competition due to the weak global economy this year. The South Korean government also warned of tough times ahead in a new year statement as global demand for the country’s exports languishes. Finance [...]
THATCHER: COMING TO A SCREEN NEAR YOU January 2, 2012 TOMORROW sees the London premiere of the much anticipated film The Iron Lady. Starring the Oscar-winning Meryl Streep and Jim Broadbent, the biopic focuses on the life and career of former Prime Minister Margaret Thatcher. To prepare for the role, Streep sat in on a session of Prime Minister’s Questions at the House of Commons [...]
That was the year that was January 2, 2012 22 FEBRUARY The revolution in Libya was the most striking incarnation of the Arab Spring, which also toppled leaders in Tunisia and Egypt. Just eight months later, Colonel Gaddafi was killed, while his family were captured or exiled. 14 MARCH With a death toll near 16,000, the Japanese earthquake and tsunami was truly devastating. Disrupted [...]
