O1 Properties seeks $425m May 1, 2012 O1 Properties, one of Russia’s largest high-end office owners, said it is aiming to raise about $425m (£262m) from its flotation on the London Stock Exchange. The IPO could be Russia’s biggest since last June when fertiliser group Phosagro raised $538m. The group, which owns around $2bn of property in Moscow, said it is looking [...]
WHO’S SWITCHING JOBS May 1, 2012 Providence Resources The Aim-quoted oil gas and exploration company has appointed Simon Brett as chief financial officer with immediate effect. He has previously held senior finance positions with Damovo Ireland and Coca Cola Bottlers Ireland, and worked at Johnson Wax, Sega Europe and US Can Corporation. New World Oil and Gas The oil and gas [...]
RAPID responses May 1, 2012 Brain drain [Re: It’s time for the supporters of the single currency to apologise, yesterday] An excellent article. As someone who works in recruitment, many of my best applicants are from Greece, Portugal, Spain and increasingly Italy. But not too many from Ireland, yet. The irony is that these are the most highly-skilled and mission-critical [...]
Red-faced KPMG says sorry for internal payments error April 30, 2012 ACCOUNTANT KPMG has been forced into an embarrassing apology to staff after the company failed to pay its staff on time. In an ironic twist, KPMG – which is accustomed to dishing out advice to firms on how to manage their own accounting systems – has been caught out itself after an administrative blunder left [...]
Time for Russia 2.0: Putin’s return promises an economic revolution April 29, 2012 THE Western European view of Russia has not moved with developments in the country since the crash of 1990. To the Western media, Russia remains a kleptocracy run by the mafia. It is seen as secretive, corrupt, plutocratic, hugely unequal and unjust. Yet the challenges that Russia faces are not unique in the world of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 26, 2012 FINANCIAL TIMES NEW SFO BOSS VOWS TO STAY RELEVANT The incoming director of the Serious Fraud Office has promised to pursue a more aggressive crime-fighting strategy, saying he will investigate “significant strategic targets” suspected of committing the most complex financial crime and overseas corruption. INVESTORS TURN HEAT ON MAN CHIEF Leading shareholders of Man Group, [...]
Polyus confirms stake sale April 26, 2012 ■ Russia’s largest gold firm, Polyus Gold said yesterday it is working towards its goal of securing a premium listing in London and selling a 7.49 per cent stake held by its subsidiary, Jenington International. The stake is estimated to be worth up to $700m (£432m).
Unilever sales lifted by price hikes and emerging markets April 26, 2012 CONSUMER goods giant Unilever beat forecasts with an 8.4 per cent rise in first-quarter sales yesterday, helped by price hikes and emerging market growth. The Anglo-Dutch maker of brands like Dove and Knorr is battling high input costs from rising commodity prices such as crude and vegetable oils, and slow growth in developed nations. It [...]
Surprise gains at Volkswagen as sales surge April 26, 2012 VOLKSWAGEN (VW) boosted operating profit by 10 per cent in the first quarter despite shrinking demand for vehicles in the car maker’s western European core markets and spending on a technology overhaul. Operating profit increased to €3.21bn (£2.6bn) from €2.91bn a year earlier, the German car maker said in a statement yesterday, beating analysts’ expectations [...]
Unilever buoyed by price hikes April 26, 2012 Consumer goods giant Unilever warned of a tough economic environment and higher inputs costs as its price hikes and emerging market growth helped first-quarter sales beat forecasts with a 8.4 per cent rise. The Anglo-Dutch maker of brands like Dove and Knorr is facing slower growth in developed nations while competition from key rivals is [...]