Petropavlovsk chief steps down December 20, 2011 Petropavlovsk’s chief executive Pavel Maslovsky has swapped the boardroom for the senate floor, resigning from the Russian gold miner after being appointed a member of parliament in Russia’s far east region of Amur. The region is home to many of the London-listed miner’s key operations. Maslovsky, co-founder of the firm once known as Peter Hambro [...]
Kim’s death ups tension December 19, 2011 NEIGHBOURS of North Korea as well as the US yesterday appealed for stability after the death of leader Kim Jong-il plunged the region into fresh uncertainty. China and Russia offered support for their ally’s new leaders as North Koreans took to the streets in scenes of apparently staged-managed mourning. Western states expressed hope that a [...]
DOLLAR RISE WILL DENT ALL ASSETS December 18, 2011 NOTWITHSTANDING the recent agreement to amend the EU treaty, the world’s financial markets are not reassured. A solution to the Eurozone debt crisis is still wanting, and many believe that the world’s emerging economies could provide it. As a collective driving force they might be able to stop the debt contagion, but the question is [...]
I want match-winner Roman to stay put, insists Redknapp December 18, 2011 TOTTENHAM (1) vs SUNDERLAND (0) TOTTENHAM manager Harry Redknapp insists he will attempt to persuade striker Roman Pavlyuchenko that his future remains at White Hart Lane after the Russia international secured three points yesterday with his first Premier League goal of the season. Sunderland, buoyed by the recent managerial appointment of Martin O’Neill, proved obdurate [...]
CITY MOVES | WHO’S SWITCHING JOBS December 15, 2011 Smith & Williamson Finbarr O’Connell, the former managing partner of turnaround specialist Re10, has joined the accountancy and investment management group as a director, bringing the total number of staff in the restructuring and recovery team to 70. O’Connell is a past president of the Insolvency Practitioners’ Association and has 25 years’ restructuring and turnaround [...]
MANAGERS PULL THE PLUG ON THE OPENING OF NEW £25M SOHO CLUB December 15, 2011 IT SEEMS The Capitalist spoke too soon about the resurgence in Piccadilly’s entertainment scene. Just hours before the champagne was due to be uncorked at the new £25m club Dstrkt on Rupert Street, as reported yesterday (15 December), the long-awaited launch was abruptly cancelled. No official word on why last night’s opening didn’t go ahead [...]
Don’t lock the world out of London: New rules send the City back to the dark ages December 15, 2011 THERE is a well-used phrase in management, that it is better to make a wrong decision than none at all. The exception must be Mark Makepeace, chief executive of the FTSE Group, who this week ruled all listings in London from next month must have a 25 per cent free float In enforcing this, he [...]
TNK-BP puts $10bn into Arctic plans December 14, 2011 RUSSIAN oil company TNK-BP, half-owned by BP, will invest up to $10bn (£6.4bn) in Arctic oilfield development and construction of a pipeline to link the fields with the export pipeline, the company said yesterday. Russia, the world’s top crude producer, is desperate to tap new hydrocarbon resources at the far-flung reaches of the Arctic and [...]
BG Group sells 10pc stake in gas field to Kazakhstan’s government for $3bn December 14, 2011 BRITISH oil company BG Group said yesterday the Kazakhstan government has agreed to acquire a 10 per cent interest in its Karachaganak gas-condensate field for $3bn (£1.9bn). Under the terms of the agreement with the Kazakh government, each of the contracting companies, including Italy’s ENI, will transfer 10 per cent of their stake in the [...]
Russia’s protests are a cry for less state corruption December 14, 2011 ANYONE surveying the scene in Russia today has one name to commit to memory: Alexey Navalny. It would be a gross exaggeration to say that this 35-year-old anti-corruption blogger was responsible for turning out a 50,000-strong protest against a rigged parliamentary election – the largest pro-democracy movement Russia has seen since the collapse of communism. [...]