Focus on… Mayfair: The playground of the international super-rich October 24, 2013 IF YOU grew up in Britain, chances are you’ll know Mayfair is the most expensive property in Monopoly. In the classic game, buying the dark blue street sets you back an astronomical… £400. These days you’ll do well to buy a square centimetre in Mayfair with that kind of money. The area’s grand regency mansions [...]
Analyst Views: What was your reaction to Asos’s Full-year results? October 23, 2013 WAYNE BROWN CANACCORD GENUITY “What makes this result even more commendable is that the pre-tax profit of £54.67m is depressed by £6m of start-up losses in China. Stripping this out shows that Asos delivered a 36.5 per cent increase versus the 23 per cent profit announced. We are encouraged by comments that the current year [...]
Champions League: Toure rage as City Euro win is tainted by racist chants October 23, 2013 CSKA MOSCOW 1 vs MANCHESTER CITY 2 MANCHESTER City captain Yaya Toure urged European chiefs to throw the book at CSKA Moscow last night after he complained of racist abuse from the stands in yesterday’s Champions League victory in Russia. Two poacher’s finishes from Sergio Aguero, which took the Argentina striker’s tally to eight in [...]
Russia’s Tinkov sees London listing of TCS price at top end October 22, 2013 RUSSIAN entrepreneur Oleg Tinkov’s consumer credit firm TCS priced its London listing at the top of a target range yesterday, with shares gaining five per cent on debut as investors bet on its ability to capitalise on households’ growing appetite for debt. TCS Holding Group, owner of Tinkoff Credit Systems, has challenged state-controlled banks and [...]
Russia cheers China deals October 22, 2013 RUSSIAN energy companies signed a slew of deals with China yesterday, seeking to lock in sales to fund costly production and pipeline projects that will direct exports away from Europe to Asia. The agreements, announced during a visit by Prime Minister Dmitry Medvedev to Beijing, brought Igor Sechin, chief executive of state oil major Rosneft, [...]
Floods hit Petropavlovsk output October 22, 2013 Gold miner Petropavlovsk yesterday said it produced 204,400oz of gold in the third quarter within full-year cost guidance, despite severe rain and widespread flooding in the Amur region of Russia where many of its assets lie. “We continued to produce high volumes of gold despite atrocious weather conditions and unprecedented flooding at our mines,” said [...]
Red Bull deny Russia GP link to driver choice October 22, 2013 RED BULL chiefs have denied that the addition of a Russian Grand Prix from next season was a factor in Toro Rosso’s surprise promotion of 19-year-old Daniil Kvyat. Kvyat is set to become the second youngest driver in Formula One history when he makes his debut in March, having been handed a seat at Red [...]
Float of Tinkov credit firm to raise $1.1bn October 21, 2013 RUSSIAN entrepreneur Oleg Tinkov’s consumer credit provider TCS is aiming to raise around $1.1bn (£680m) in its forthcoming London flotation – higher than the $870m previously expected, a financial market source said yesterday. TCS Holding Group, owner of Tinkoff Credit Systems, has rivalled state-controlled banks and grabbed market share in the high-margin business of consumer [...]
Fast food sales growth slows at McDonald’s October 21, 2013 MCDONALD’S missed forecasts with its quarterly revenue figures yesterday, and warned that global sales in October are likely to be flat on last year. Sales at stores opened for at least 12 months rose 0.9 per cent in the third quarter, missing analysts’ expectations of a one per cent rise, according to Consensus Metrix. A [...]
Halliburton dips in spite of rising oil work October 21, 2013 BUOYANT oilfield activity in Russia, Saudi Arabia and Angola helped Halliburton narrowly beat expectations yesterday with a 17 per cent rise in third-quarter profit, but its US-listed shares slipped since its main competitors did even better. The world’s second-largest oilfield services company has been chasing opportunities outside its traditionally dominant US market to better take [...]