Russia miners to add weight to bluechips December 4, 2011 RUSSIA’s presence on the UK’s top share index will go up this Wednesday if two of its newly London-listed metals and mining groups are admitted in the quarterly changeover of its constituents. Evraz, the steelmaking group part-owned by Chelsea owner Roman Abramovitch, and Polymetal, Russia’s biggest silver producer, have each swapped their global depositary receipt [...]
Blatter aims fire at English December 4, 2011 Fifa president Sepp Blatter has renewed his attack on his English critics, claiming they are bitter at the failed bid to stage the 2018 World Cup. “They thought that football should have come home; the World Cup was theirs by right,” Blatter said. “When they came with David Beckham, Prince William and Prime Minister Cameron, [...]
FA hints at U-turn over Capello as England prepare to discover Euro 2012 opponents December 1, 2011 ENGLAND chiefs have paved the way for a spectacular U-turn over manager Fabio Capello after admitting he could stay on beyond next summer’s European Championships. The backtracking comes as England today prepare to discover who they will face at Euro 2012, when the draw is made in Kiev this afternoon. Both the Football Association and [...]
Mild autumn boosts profit at Kingfisher December 1, 2011 KINGFISHER posted better-than-expected third quarter profits yesterday, after the unseasonally mild autumn weather helped boost sales at the retailer’s stores in the UK and France. Europe’s biggest DIY company, which runs over 800 stores across the continent, posted a 13.9 per cent rise in operating profit to £273m in the the 13 weeks to 29 [...]
Polyus ready to list in the UK, says boss chief December 1, 2011 RUSSIAN firm Polyus Gold is ready for a premium listing on the London Stock Exchange if market conditions remain as they are, according to the boss of a company with a blocking stake in the miner. Dmitry Razumov, chief executive of Onexim group, said: “We are heading towards the premium listing and will definitely get [...]
Severstal to spin off Nord Gold November 30, 2011 Severstal, Russia’s biggest steelmaker, is set to spin off its Nord Gold unit and could list the standalone business in London, less than a year after being forced to pull a planned $1.5bn (£950m) public offering. A London listing for Nord Gold would raise the profile of the gold unit and allow it direct access [...]
Sberbank lifts outlook on margins and loan growth November 30, 2011 SBERBANK, Russia’s largest bank, hiked its full year profit forecast yesterday following a 76 per cent rise in third-quarter net income to $2.55bn (£1.6bn), driven by loan growth and higher margins. The state lender now expects 2011 net profit to come in at 300-310bn roubles (£6.2bn – £6.4bn), up from an earlier forecast of 250-270bn [...]
If only the neoliberals were really in charge November 28, 2011 IT IS common to hear about the ascendancy of “neoliberal” economics. Many on the left use it as an explanation for the deregulation that they blame for causing the financial crisis. And some argue that it is the dominant school of thought within the economics profession. These are myths, and I want to challenge some [...]
Miner plans London listing in New Year November 27, 2011 A MONGOLIAN coal miner is considering a multi-billion flotation in London in a deal that will please investment bankers who have been largely starved of new issues in London’s faltering IPO market. According to banking sources, Goldman Sachs and Deutsche Bank, are working on the potential listing of the state-owned Tavan Tolgol, with hopes that [...]
PUTIN PLOTS RETURN TO PRESIDENCY November 27, 2011 Vladimir Putin accepted his ruling party’s nomination yesterday to return to Russia’s presidency, while accusing foreigners of funding his political opponents in a reminder of the anti-Western rhetoric that characterised his years in power. Putin, president from 2000-2008 and now prime minister, is expected to easily recapture the presidency in an election in March.