Rothschild halts BRM buy October 17, 2011 NATROTHSCHILD’S Indonesian coal-mining company Bumi announced yesterday it would not be going ahead with its proposed 75 per cent acquisition of Bumi Resources Minerals due to “continuing market uncertainties”. The financier’s London-listed company has an existing 25 per cent stake in BRM through its 29.1 per cent shareholding in thermal coal producer PT Bumi Resources, [...]
Noble shuts its City coal trade desk October 17, 2011 ASIA-focused commodities trader Noble has closed its London coal trading desk while hiring heavily in the US and Asia, in the latest blow to the City’s status as a global financial hub. The desk used to trade both physical coal and coal swaps in London as part of Noble’s 120 staff employed in two UK [...]
Banks in new private equity sales October 17, 2011 AN increasing number of US and European banks are putting their private equity arms up for sale in order to boost their capital levels. Crédit Agricole has opened exclusive negotiations to sell a “significant interest” in its private equity arm to global secondaries fund Coller Capital, City A.M. understands. The French bank is believed to [...]
Rayne still in post as LMS row continues October 17, 2011 THE two sides battling for control of private equity fund LMS Capital appeared no nearer to a deal last night after chairman Robert Rayne defied calls to leave the firm quickly. A group that includes Rayne said he was willing to step down providing he could stay on as a director and if a plan [...]
Trader tops NYSE ranking October 17, 2011 A LITTLE-known brokerage in New York toppled Goldman Sachs and Morgan Stanley from the top of the New York Stock Exchange’s ranking of trading companies for the past two weeks, it has emerged. Latour Trading topped NYSE’s weekly list of the biggest programme traders, which use an automated system to execute large trades buying or [...]
LIBERTARIAN LEAFLETERS HIT OUT AT ANTI-CAPITALIST PROTESTS October 17, 2011 SNEAKING among the protesters outside St. Paul’s Cathedral over the weekend was a pack of intrepid pro-capitalist activists. Their purpose? To reform and educate the anti-corporate revolutionaries on the beauty of an unimpeded free market. “We distributed more than 100 leaflets to protesters,” ringleader Simon Gibbs told The Capitalist. “One third of protesters, mostly young [...]
Russia’s Evraz to list on LSE October 17, 2011 EVRAZ, the Russian metals and mining group backed by billionaire oligarch Roman Abramovich, is moving its domicile to the UK and listing in London as it seeks greater international acceptance and access to capital. Evraz, which mines coal, iron ore and valladium and makes steel industrial goods, yesterday said it wanted to list on the [...]
DTZ plummets as takeover talks end October 17, 2011 SHARES in property consultancy DTZ plunged by 13 per cent yesterday after its majority shareholder walked away from making a formal takeover offer due to market turmoil and the Eurozone debt crisis. DTZ revealed in May that French family-run property group Saint Georges Participations (SGP), which owns about 55 per cent of DTZ, had approached [...]
L’Oreal decision October 17, 2011 L’Oreal heiress Liliane Bettencourt’s daughter Francoise Meyers-Bettencourt won control over her 88-year-old mother’s business affairs yesterday almost two years after she asked to take over on the grounds her mother had been exploited. Bettencourt was deemed to be suffering dementia.
Top streets selling October 17, 2011 Foreign landlords own over 60 per cent of London’s Bond Street and Oxford Street, having snapped up numerous stores in the past five years as investors sought safe havens for their cash, data from Savills showed. The property consultancy said foreign investors were attracted by the weakness of sterling.
