Russian gold miner Polyus eyes LSE listing May 17, 2012 POLYUS, Russia’s largest gold producer, said yesterday that it expects to complete a premium listing on the London Stock Exchange next month and is likely to join the FTSE 100 index. “As already the largest gold producer in Russia and one of the top ten globally, Polyus Gold aspires to become one of the world’s [...]
London must resist its critics and adapt to survive the financial crisis May 16, 2012 LONDON’S great success over many centuries has stemmed from its adaptability. It has attracted talent and money from around the world. It has been outward-looking, sending argosies to the Levant, trading with an empire and more recently acting as the world’s favourite financial centre. Like all such success stories in the UK, it attracts its [...]
Exports to the EU dip but UK deficit shrinks May 15, 2012 EXPORTS increased in March, official data showed yesterday, as UK trade with non-EU countries boomed. The trade deficit in goods and services narrowed to £2.7bn in the month, down from £2.9bn in February the Office for National Statistics reported. Services exports rose £0.2bn to £15.5bn while imports held at £9.6bn, leaving a surplus of £5.8bn. [...]
Britain avoids global prime property slip May 13, 2012 THE VALUE of prime property in the world’s major cities dropped in the first three months of 2012, industry figures revealed today – the first time prices have fallen since 2009. Knight Frank’s prime global cities index registered a 0.4 per cent fall, led by Tel Aviv’s 6.6 per cent drop, Kiev’s fall of 6.4 [...]
OVERSEAS BIG SPENDERS LURED TO EDINBURGH May 13, 2012 EDINBURGH enjoyed a surge in tourist spend over the past year, thanks to international shoppers flocking to the Scottish capital, particularly from China, Russia and Brazil. Tax-free shopping specialist Global Blue said tourist spending soared by 75 per cent in the twelve months to March, thanks in part to increased investment in the city centre.
Nissan’s new models help it hit record sales May 11, 2012 Motor giant Nissan today announced a one-third jump in quarterly profit and projected a 28 per cent rise in the year ahead, driven by brisk sales in most major markets and the launch of ten new models around the world. Nissan has outshone domestic rivals in the past year as chief executive Carlos Ghosn has [...]
CITY MOVES WHO’S SWITCHING JOBS May 10, 2012 McGuireWoods Philip Newhouse has been appointed managing partner of the international law firm’s London office. He replaces Anders Grundberg, who will continue as partner in the firm’s international transactions and private wealth services practice. Newhouse has previously served as managing partner at Taylor Wessing Bucharest’s office and at Haarman Hemmelrath. Coutts The wealth division of [...]
Russia takes fizz out of Carlsberg May 9, 2012 Danish brewer Carlsberg yesterday failed to meet first-quarter profit forecasts after its crucial Russian market took another hit from beer tax hikes. Operating profit dropped to 574m Danish crowns (£61.9m), missing forecasts for 823m crowns. Group sales rose to 12.87bn crowns.
Statoil hails Arctic deal as production edges up May 8, 2012 STATOIL yesterday gave an upbeat assessment of its new Arctic oil exploration deal in Russia yesterday as it reported forecast-beating first quarter production figures. The Norwegian oil and gas company said it was optimistic about a new tie-up with Rosneft to drill for oil in the Arctic, although it said the project was high risk. [...]
Exillon gets boost as fuel output increases May 8, 2012 OIL explorer Exillon yesterday reported a 55 per cent jump in production for the three months to the end of April alongside above-average selling prices for its fuel. Production at the FTSE 250-listed firm averaged 11,448 barrels per day compared with 7,386 bpd in the equivalent period last year. In April, Exillon hit an all-time [...]