Reading will stay prudent, Madejski says January 22, 2012 THE outgoing owner of Reading FC has warned against hopes of a spending spree once he has completed a deal to sell the club to a Russian tycoon. Sir John Madejski is locked in due diligence and expects to finalise a deal with Thames Sports Investment (TSI) by the end of March. Yesterday he claimed [...]
From Russia with love: cash flowing into London January 22, 2012 FROM the King’s Road to Royal Berkshire – football’s Russian revolution looks set to claim another victory this spring when Anton Zingarevich pours his cash into Reading. The Championship side is small in comparison to Roman Abramovich’s Chelsea but it is, at least, very near to London, which remains an affluent market and the spiritual [...]
IKEA posts record profit January 20, 2012 Sweden’s IKEA, the world’s biggest furniture retailer, posted on Friday a record profit for the fiscal 2010/11 year on the back of growing sales and a bigger share in almost all of its markets. Net profit at the privately-held Swedish firm, known the world over for low-price, self-assembly, flat-packed furniture, rose 10.3 per cent to [...]
Car industry boosts UK as exports jump January 19, 2012 CAR MANUFACTURING expanded quickly in the UK last year, with exports accounting for a record share of output, figures from the Society of Motor Manufacturers and Traders (SMMT) revealed yesterday. This increase shows the sector “continues to lead the manufacturing recovery,” said the SMMT’s Paul Everitt. However, output of commercial vehicles declined and engine production [...]
Ruspetro shares start lower January 19, 2012 SHARES in Ruspetro, the first company to brave a main market listing in London this year, opened at a small discount to their issue price in conditional dealings yesterday. The oil and gas exploration group with assets in western Siberia priced its shares at the bottom of the range at 134p earlier in the week, [...]
Murray wary of leftie Llodra January 19, 2012 Brit glides past Roger-Vasselin to set up third-round clash with quicksilver veteran HE MAY not be a wild card under by strict tennis definitions but Michael Llodra stands out from most professionals on the circuit – and Britain’s Andy Murray admits he will pose a singular threat when they collide tomorrow at the Australian Open. [...]
World Bank lowers GDP growth forecasts January 18, 2012 The World Bank warned developing countries on Wednesday to prepare for the “real” risk that an escalation in the euro area debt crisis could tip the world into a slump on a par with the global downturn in 2008/09. In a report sharply cutting its world economic growth expectations, the World Bank said Europe was [...]
Blade Runner eyes Oscar winning role at Laureus Awards January 16, 2012 BBLADE RUNNER Oscar Pistorius will discover in a few weeks if he is also a Laureus World Sports Awards winner. This year’s awards ceremony is being held at Central Hall, Westminster, on 6 February, and Pistorius is nominated for both the Laureus Disability and Breakthrough Awards. In South Korea in August, Pistorius, who was born [...]
Fitch worried on Russian politics January 16, 2012 Ratings agency Fitch revised Russia’s outlook to “stable” from “positive” yesterday. Rising “political uncertainty” and the global economic outlook were both blamed. “Political risk, reflected by poor governance indicators, is a long-standing weakness compared with most other triple-B rated countries,” Fitch announced. Such political worries increase the risk of capital flight, the agency claimed, which [...]
BEST OF THE BROKERS January 16, 2012 FEDERAL GRID COMPANY (GDR) Goldman Sachs transfers its coverage of Russia’s largest electricity transmission company grid from the local stock exchange to its global depositary receipt listing in London, rating it as a “buy” with a target price of $7.50. The broker says news flow on Russian power utilities reached its most negative in autumn [...]