M&A deals in emerging markets surge in 2012 following slump January 27, 2013 GLOBAL spending on mergers and acquisitions (M&A) in emerging high-growth markets rose by five per cent last year, following a 25 per cent slump in 2011. However, spending by British firms more than halved, according to figures released today. Research by law firm Freshfields Bruckhaus Deringer puts global investment in the world’s 24 fastest-growing economies [...]
M’Vila snubs QPR for Russia move January 23, 2013 FOOTBALL: Queens Park Rangers have missed out on transfer target Yann M’Vila after the France midfielder signed for Russian side Rubin Kazan for £8m. Meanwhile manager Harry Redknapp has named defender Clint Hill captain, with former skipper Ryan Nelsen set to leave to manage Toronto FC at the start of next month.
City Moves | Who’s switching jobs January 22, 2013 Carmignac Gestion Keith Ney has been appointed co-manager of the asset management firm’s European bond fund, working alongside Carlos Galvis. He has worked for Carmignac for eight years, most recently as head of credit. Stenham Asset Management The asset management firm has made two appointments to its investment team. Akshay Krishnan joins as a senior [...]
Moscow stock exchange plans Russian float January 21, 2013 MOSCOW’S stock exchange plans to float on its own platform, seeking to revitalise Russia’s capital markets and convince companies to list domestically rather than abroad. Shareholders of the Moscow Exchange, Russia’s main venue for trading in stocks, bonds, foreign exchange and derivatives, are expected to sell stock worth at least $500m (£315.9m), one source familiar [...]
Goldman chief backs China January 21, 2013 Goldman Sachs Asset Management chairman Jim O’Neill yesterday said China should be ditched from the “Brics” concept he originally coined because it had grown too important. Speaking at the London School of Economics, O’Neill said China was so far ahead of its “Brics” counterparts – Brazil, Russia and India – it should not be included. [...]
Portmeirion pre-tax profits on target after bumper revenues January 21, 2013 PORTMEIRION Group, the china-maker best known for its Botanic Garden pattern and collection by Sophie Conran, said full-year profits are likely to be in-line with forecasts after enjoying a strong Christmas trading period. The Aim-listed manufacturer said it expects to report revenues for the year to 31 December 2012 of over £55m, around three per [...]
The eurosceptic case for renegotiating EU trade relationships with caution January 21, 2013 OECD secretary-general Angel Gurría summarised succinctly, last week, the extent to which globalisation has led to the interconnectedness of countries through trade. In a speech in Paris, he said: “A good produced in the EU and exported to the US includes components from China and Japan, using raw materials and services from Australia, Russia or [...]
The protectionist beast is back in a subtly fresh form January 20, 2013 IT’S a classic: during every recession, protectionism resurfaces. After four years of economic turmoil, unemployment is critical in the US (7.7 per cent) and Europe (11.7 per cent). Obviously, governments want to protect national companies and jobs, especially if they want to be re-elected. But if protectionism is back, it’s also more subtle. Gone are [...]
Evraz annual output down five per cent January 18, 2013 Crude steel production slumped by five per cent last year for Russia’s largest steel producer Evraz. Output fell to 15.9m tonnes, from 16.7m tonnes in 2011, on the back of overhauls at its Russian steel mills. The temporary suspension of production at Evraz Vitkovice’s steel shop in the Czech Republic also weighed on output over [...]
Clinical Murray gunning for pal Berankis January 17, 2013 BRITAIN’S Andy Murray will put off-court friendships to the back of his mind tonight when he meets training partner Ricardas Berankis in the Australian Open third round, after ruthlessly dispatching Portuguese Joao Sousa in Melbourne yesterday. The Scot triumphed 6-2, 6-2, 6-4 in just an hour and forty-one minutes to ease past Sousa, a man [...]