LEGAL FIRM BROADENS RECRUITING HORIZONS August 1, 2011 CITY INTERNSHIPS are notoriously hard to come by. But not for regular readers of The Capitalist such as Ratidzo Chinyuku, who wrote to Taylor Wessing partner Martin Winter asking for a work placement after reading about his charity work in her homeland of Zimbabwe in this column on 12 April. Following her successful appeal, the [...]
Cooper drops takeover bid for rival Laird August 1, 2011 LAIRD shares plunged 15 per cent yesterday after Cooper Industries announced it was withdrawing its bid for the electronics components firm, saying it is unwilling to proceed at Laird’s asking price. Cooper Industries’ two-month battle to take over the smaller British rival came to a deadlock this weekend after the two companies were unable to [...]
Melrose bid for Charter gains pace as roadshow moves on August 1, 2011 PRESSURE on Charter International mounted yesterday as its investor roadshow to win support for its new chief executive and strategy moved to the US after days of UK meetings. Charter has rejected two offers from turnaround investor Melrose, but several of its major investors have called for it to allow Melrose to view its books, [...]
African Minerals signs with China’s Shandong August 1, 2011 AFRICAN Minerals has finalised a £1.5bn deal with China’s Shandong Iron & Steel, handing over a 25 per cent stake in its flagship Tonkolili iron ore project in Sierra Leone. Shandong, one of the world’s largest iron and steel groups, will also purchase iron ore at a discounted price under an off-take arrangement, and has [...]
The risk taker who puts his money where his mouth is August 1, 2011 AS a self-made billionaire, Frank Timis’ entrepreneurial skills in the global natural resources industry are hard to match. Nicknamed “The Gusher” in the City, he is well known for being a fast-talking risk-taker. His personal website was recently re-launched, drawing a less-than-subtle focus on his social responsibility and charitable deeds. It is clear that Timis [...]
Zappia gets Sky Italia job August 1, 2011 NEWS Corp has appointed Andrea Zappia as chief executive of Sky Italia, replacing Tom Mockridge, who left the broadcaster to fill the vacant top job at News International. Zappia will leave his job as a director at former News Corp takeover target BSkyB with immediate effect. He will take on the running battle with Italian [...]
GMG sees its revenues slide in tough market August 1, 2011 GUARDIAN Media Group (GMG) has endured another “challenging” year, seeing revenues fall nine per cent to £255m, while flagship newspaper editor Alan Rusbridger took home £455,000. GMG chief executive Andrew Miller earned £572,000, while axed managing director Tim Brooks received a £510,000 final settlement. The firm reported an operating loss of £54.5m, up slightly on [...]
Twitter confirms significant investment from Russian firm August 1, 2011 TWITTER yesterday confirmed it has completed a “significant round of funding” led by Russian technology investor Digital Sky Technologies (DST). The microblogging site said the new funds, in which several other investors were involved, would be used to “aggressively innovate, hire more great people and invest in international expansion”. It is understood DST took a [...]
Arena Leisure sees 11 per cent spike in attendance August 1, 2011 ARENA Leisure saw its shares spike almost eight per cent yesterday before settling three per cent up, after its customer adds raced ahead of expectations. The racecourse owner said its attendance figures rose by more than 11 per cent year-on-year in the first half. The surge came despite a drop in pre-tax profits, to £1.4m [...]
CHARLES ALLEN TO LEAD LABOUR REVIEW August 1, 2011 Former ITV chief executive and EMI chairman Charles Allen was yesterday appointed to lead a management and commercial review of the Labour Party. He was hired by incoming general secretary Iain McNicol to get the party’s house in order in time for the next general election. Leader Ed Miliband said the appointment is another step [...]
