Miner plans London listing in New Year November 27, 2011 A MONGOLIAN coal miner is considering a multi-billion flotation in London in a deal that will please investment bankers who have been largely starved of new issues in London’s faltering IPO market. According to banking sources, Goldman Sachs and Deutsche Bank, are working on the potential listing of the state-owned Tavan Tolgol, with hopes that [...]
Cash hope for British clients of MF Global November 27, 2011 CLIENTS of the British arm of collapsed US broker MF Global today move one step closer to getting back some of their money as the administrator publishes a timetable for dealing with claims. KPMG, the special administrator, said clients could submit claims from 8 December until 30 March next year. Joint administrator Richard Heis said: [...]
Murdoch set to survive at Sky says Odey November 27, 2011 JAMES Murdoch will be comfortably re-elected as a director of BSkyB at tomorrow’s annual general meeting, says one of the broadcaster’s biggest investors, despite shareholder calls for him to resign in the wake of the phone hacking scandal. Hedge fund boss Crispin Odey, who holds a 2.7 per cent stake in the satellite business, says [...]
BSkyB investors have reasons to stick with their under-fire chairman November 27, 2011 So should James Murdoch remain as a director of BSkyB or should he go? On one level, it is an easy story for shareholders: the dividend of £353m plus the share buyback of £750m adds up to a nine per cent payout to investors of the company’s market cap of £12bn. Murdoch also has a [...]
Bluefin Advisory may be sold November 27, 2011 Axa UK has hired advisors to decide whether to sell its Bluefin Advisory Services. Following reports of a possible sale, the company said it had appointed Fenchurch Advisory Partners to consult on “the firm’s strategic options”. “Working closely with the senior management team in BAS, Fenchurch will consider both the prospects for the continued growth [...]
STRICTLY BALLROOM AS HOGAN LOVELLS TAKES TO THE DANCEFLOOR November 27, 2011 PALE winter skin was smothered in fake tan and suits were replaced by sequins. Think The Only Way is Essex meets Strictly Come Dancing and you’re halfway to picturing the spectacle that was Hogan Lovells’ ballroom dancing contest. There is no record of what the law firm’s clients made of it all, but the Legally [...]
BILL OF THE WEEK November 27, 2011 TWO things are in plentiful supply at the 1980s-themed club Maggies in West London: bad taste and Russian Standard vodka. Combine the two, as one City boy did when he turned up to “start Christmas early” with seven friends, and you find yourself wearing the Miner’s Cap – a hat adorned with the Iron Lady’s [...]
Soccer stars in Italy urge bond buying November 27, 2011 Italy’s soccer players have joined the fight to save the nation’s finances, urging supporters to buy government bonds in a campaign kicking off today which underlines how far the debt crisis has moved from the business pages into everyday life. News bulletins have been dominated for months by the crisis, making esoteric financial terms like [...]
Hungary pleads for time from agencies November 27, 2011 HUNGARY hopes that credit rating agencies Fitch and S&P will wait for the results of its talks with the International Monetary Fund (IMF) and the European Union (EU) before taking any rating action, a top government official said yesterday. The country, whose economy is seen among the most vulnerable in central Europe, returned to the [...]
Belgium plans to form government this week November 27, 2011 BELGIUM may have a government this week, the country’s chief negotiator in charge of forming a cabinet Elio Di Rupo said yesterday, after political parties clinched a deal on the 2012 budget under pressure from rising borrowing costs. The budget agreement was seen as the last major obstacle to forming a government among six Belgian [...]
