Airlines avoid the UK due to full Heathrow April 18, 2012 AIRLINES are spurning the UK because there is no space for them at Heathrow, a survey has claimed. Fifty-three per cent of carriers said they are adding flights in other countries because of the problem, though eight in ten are keen to increase journeys to the UK – providing slots at Heathrow are made available. [...]
Hague hits out at Argentina’s seizure of YPF April 18, 2012 FOREIGN secretary William Hague warned yesterday that Argentina’s planned seizure of oil company YPF is a sign of the country’s growing antagonism towards foreign investors. “The Argentine government has made no secret of the fact that it wishes to reduce imports and boost its domestic trade surplus through a variety of restrictive trade measures,” Hague [...]
Russia’s O1 Properties to float April 18, 2012 RUSSIAN real estate group O1 Properties has said it plans to float in London, in a public offering that could raise at least $400m. The firm, which has a portfolio of properties across Moscow worth more than $2bn, said it will use the funds to buy two new buildings in the city and repay some [...]
Clegg hints at charities u-turn and says: I would like to be PM April 18, 2012 NICK Clegg has hinted at changes to the controversial plan to cap tax relief on charitable donations and also admitted his lingering desire to be Prime Minister. The Liberal Democrat leader said there had to be “some limit” to the allowances but said “of course” he was not accusing wealthy individuals of giving to charity [...]
ADVISERS April 18, 2012 For any Russian firm hopeful of raising funds in London, VTB Capital seems to be the go-to bookrunner. The Kremlin-backed bank has been involved in a big share of Russian firms’ capital-raising efforts in the City in recent years, from property firm Etalon, mining group Polymetal and even the Russian government’s recent $7bn bond sale. [...]
News Corp acts on US law breach April 18, 2012 News Corp yesterday suspended half the voting rights of its non-American shareholders to comply with a US law that limits foreign ownership, after the company found it had breached the rule. During a company review, News Corp found voting stock held by foreign investors had risen above the 25 per cent limit set by the [...]
MF Global trustee heads for court April 18, 2012 The trustee liquidating MF Global’s broker-dealer said yesterday a dispute with the broker’s UK affiliate over the rights to about $700m will have to be settled in court. James Giddens, who is in charge of recovering money for customers burned by MF Global’s collapse, said that ongoing resolution talks with administrators for MF’s UK affiliate [...]
UBS’s co-head of US m&a resigns April 18, 2012 UBS’s co-head of US mergers and acquisitions, Ehren Stenzler, resigned from the Swiss bank yesterday, according to a source close to the matter. Stenzler’s move comes a day after the resignation of the bank’s head of Americas investment banking, Aryeh Bourkoff, to whom Stenzler reported. The two are likely to work together on future ventures, [...]
Hindmarch bags the Veuve Clicquot trophy April 18, 2012 THE RISE and rise of British luxury brands got yet another boost last night, when handbag designer Anya Hindmarch was named as the 2012 winner of the Veuve Clicquot Business Woman Award. The sound of popping corks smashing the business world’s glass ceiling resonated around the ballroom at Claridge’s last night, where Hindmarch received her [...]
Lloyd’s given the slip of the Titanic’s rescuer April 18, 2012 THE insurance group Marsh has presented to Lloyd’s of London the original insurance slip for the RMS Carpathia, the ship that rescued more than 700 survivors from the HMS Titanic after she sank 100 years ago (pictured). The insurance slip contains a summary of the Carpathia’s insurance policy and the signatures of more than 80 [...]
