Seismic firm in London listing October 31, 2012 ■ Newly-formed IG Seismic Services is the latest Russian company to seek a London float, after yesterday announcing its intention to list its global depository receipts on the main market. IGSS, which provides seismic services to Russian oil and gas companies, believes it is well-placed to capitalise on strong growth in high-technology seismic services. The [...]
Rapid responses October 31, 2012 Heseltine’s project [Re: A corporatist economic growth plan that won’t rescue UK Plc, yesterday] It is good the government is exploring ways to support growth. But Michael Heseltine’s solutions, including greater state intervention and regulation, are unlikely to help businesses. Better access to funding and national insurance holidays, for example, would be of more practical [...]
Bond opportunities are still emerging October 30, 2012 IF YOU are on the hunt for strong and diversified returns from emerging markets, local currency denominated debt can give you solid exposure to attractive yields. Until the 1990s, due to poor liquidity and low transparency, emerging market debt was issued only in hard currencies, predominantly the US dollar. But many emerging markets now run [...]
Swedish coach Eriksson hopes to bring success October 29, 2012 UK Athletics are to appoint Peter Eriksson as Charles van Commenee’s successor as head coach after the former’s success in charge of Great Britain’s Paralympics team. The 59-year-old overlooked the accumulation of 120 medals throughout the London 2012 Paralympic Games in which Britain secured an overall third place with a tally of 17 more medals [...]
What the other papers say this Morning October 29, 2012 FINANCIAL TIMES New Look moves to reassure suppliers New Look, the value fashion chain, has moved to reassure suppliers over its financial position, after a report last week in an industry blog that it was poised to enter administration and carry out a company voluntary arrangement. Linde seeks deeper cost cuts Linde, the world’s second [...]
Weak economy makes UK firms invest overseas October 29, 2012 BRITAIN is slipping down the rankings of the most desirable investment locations, according to a global study of businesses out today from professional services firm BDO. And mid-sized British firms are increasingly being forced to look abroad for investment opportunities thanks to the weak economic outlook domestically. The UK is now the seventh biggest investment [...]
Virgin Atlantic pushes back over easyJet’s exclusive Moscow deal October 28, 2012 VIRGIN Atlantic boss Steve Ridgway hopes to contest a decision to award easyJet a licence to fly to Moscow, calling the situation “bizarre”. The airline is combing through last week’s decision by the Civil Aviation Authority to allow easyJet to operate services to the city, under an arrangement with Russia that allows just two carriers [...]
Asos boss denies bid talks as the retailer posts soaring profit October 25, 2012 ASOS boss Nick Robertson yesterday dismissed talks of a bid by Amazon after the online fashion firm posted soaring sales abroad. He poured cold water on speculation that he had met with Amazon boss Jeff Bezos saying “I have not spoken to Amazon in three years.” The retailer, which has changed its year-end from March [...]
Reckitt profits from emerging markets boost October 24, 2012 SHARES in Reckitt Benckiser climbed higher yesterday after the maker of Finish dishwasher tablets and Nurofen painkillers said strong emerging markets growth helped push third quarter like-for-like sales up by five per cent. Chief executive Rakesh Kapoor said the group had seen an “excellent” performance from emerging markets, and an improved performance in Europe and [...]
BP ponders a share buyback as new partner Rosneft hails $3bn benefits of Russian tie-up October 23, 2012 KREMLIN-controlled Rosneft chief Igor Sechin yesterday said that its takeover of TNK-BP could yield up to $5bn (£3bn) in synergy savings, largely on projects in north and eastern Russia. Synergies from the optimisation of current upstream, refining and marketing projects of both gas and oil could benefit the state-controlled energy producer to the tune of [...]