Chinese hustlers are taking advantage of the Cayman legal system – and British investors are paying for it
CVC Capital quashes talk ex-M&S boss is to run F1 November 27, 2011 FORMULA One owner CVC Capital has moved quickly to dismiss speculation ex-M&S boss Sir Stuart Rose is being lined up to replace Bernie Ecclestone to run the business. “Contrary to recent media speculation, CVC is not seeking a replacement for Bernie Ecclestone and intends to retain him as chief executive of F1,” CVC said in [...]
PUTIN PLOTS RETURN TO PRESIDENCY November 27, 2011 Vladimir Putin accepted his ruling party’s nomination yesterday to return to Russia’s presidency, while accusing foreigners of funding his political opponents in a reminder of the anti-Western rhetoric that characterised his years in power. Putin, president from 2000-2008 and now prime minister, is expected to easily recapture the presidency in an election in March.
Thomas Cook aims to reassure clients November 27, 2011 THOMAS Cook has launched a publicity offensive aimed at reassuring customers of its future as its incoming chairman, Frank Meysman, arrives to review the business, which is expected to involve a boardroom clearout. After being saved from collapse on Friday by a £100m bailout from its banks, Thomas Cook’s interim chief executive Sam Weihagen published [...]
AT&T mulls a big asset sale to save its T-Mobile deal November 27, 2011 AT&T is considering an offer to divest a significantly larger portion of assets than it had initially expected, in order to salvage its $39bn (£25.3bn) deal to buy T-Mobile USA, Bloomberg financial news-wires reported, citing a person familiar with the plan. Bloomberg said the exact size of the divestiture hasn’t been determined but reported it [...]
BHP Billiton announces reshuffle of senior management as CFO leaves November 27, 2011 MINING giant BHP Billiton has announced a senior management reshuffle to fill the gaps as chief financial offer Alex Vanselow steps down. Vanselow is set to leave the firm at the end of February and will be succeeded by Graham Kerr, who is currently the president of diamonds and specialty products. In another promotion, marketing [...]
Old Mutual veteran set to lead Phoenix Group offer November 27, 2011 PRIVATE equity house CVC has brought in Jim Sutcliffe, the former chief executive of Old Mutual, to lead its £1bn takeover bid for closed life and pension fund group Phoenix, it was reported yesterday. CVC is believed to have access to a data room to conduct due diligence but declined to comment last night. Clive [...]
Olympic Media Buzz LONDON 2012 PARTNERS November 27, 2011 IN ASSOCIATION with Repskan.com, the media monitoring and analytics platform, City A.M. is measuring the relative Olympic media buzz around the partners for the London 2012 Olympic and Paralympic Games, week by week. The leaderboard, right, reflects their ranking over the past week, in this case from Wednesday 16 November to Wednesday 23 November. Recently, [...]
Centrica eyes bid for RWE assets November 27, 2011 Centrica, the owner of British Gas, has been eying a possible bid for RWE’s North Sea oil and gas assets for up to €2bn (£1.7bn). The FTSE 100 energy company has been working with bankers from Citigroup, the Telegraph reported this weekend. The move comes as German power company RWE looks to sell assets, including [...]
NSN chief says no more bailouts November 27, 2011 The chief executive of Nokia Siemens Networks (NSN), the world’s second-largest maker of mobile phone network equipment, has warned employees NSN can not expect any more money from its parent companies, a German magazine reported yesterday. Parents Nokia and Siemens have provided capital “for the last time” and expect this investment will provide results, Spiegel [...]
Over-50s still feel squeezed by downturn November 27, 2011 PEOPLE aged 50 and over are continuing to suffer from a decline in their quality of life as a result of rising inflation, unemployment and a fall in savings, research by Saga reveals today. The Saga quarterly report, conducted by the Centre for Economics and Business Research and Populus, questioned more than 10,000 people over [...]
