WPP boss looks to mobile future for the ad industry October 18, 2011 SIR Martin Sorrell yesterday laid out his vision for the future of the advertising industry, stressing the importance of social media and the shift to emerging markets. He also said mobile advertising is an increasingly vital part of the industry, with the number of smartphones expected to increase to 2bn in the next five years. However, WPP’s [...]
Basel III and derivative rules get FSB priority October 18, 2011 THE FINANCIAL Stability Board (FSB) published its top six priorities for banking reform yesterday. Basel III, OTC derivative reforms, pay changes, systemically important bank measures and resolution frameworks were all declared to be FSB priorities. The body plans to track progress towards the implementation of legislation promoting these G20 initiatives. The selection process was “based [...]
Russia’s Evraz to list on LSE October 17, 2011 EVRAZ, the Russian metals and mining group backed by billionaire oligarch Roman Abramovich, is moving its domicile to the UK and listing in London as it seeks greater international acceptance and access to capital. Evraz, which mines coal, iron ore and valladium and makes steel industrial goods, yesterday said it wanted to list on the [...]
Relegation in danger of axe – managers’ chief October 17, 2011 OVERSEAS owners of Premier League clubs want to ringfence the top flight and abolish relegation, according to League Managers’ Association chief Richard Bevan. Such a move could only be passed if 14 of the 20 leading clubs voted in favour of the change, but Bevan believes that could happen if more foreign investors snap up [...]
BRICS to fund a larger IMF October 13, 2011 EMERGING market governments are keen to contribute to increase the capital base of the International Monetary Fund to help to rescue struggling states such as Greece. The leaders of the BRICS group of the largest emerging economies – Brazil, Russia, India, China and South Africa – are in favour of adding to the IMF’s capital [...]
Three Lions Euro hopes damaged by Rooney ban October 13, 2011 ENGLAND’S hopes of prospering at next summer’s European Champions were dealt a seismic blow last night when Uefa confirmed Wayne Rooney would serve a three-game ban as a result of the red card he received against Montenegro last week. The Manchester United striker was dismissed for kicking Miodrag Dzudovic in the 2-2 draw in Podgorica [...]
Demand for Burberry is still booming October 12, 2011 LUXURY goods group Burberry batted away fears of an economic slowdown in its key Chinese market yesterday as it unveiled forecast-beating results. Revenues for the three months to September hit £463m – above a forecast for £448m by a poll of analysts. Luxury goods stocks have fallen sharply in recent weeks on signs of an [...]
BP gets upper hand in Russian director lawsuit October 12, 2011 A RUSSIAN court is likely to throw out a $2.8bn (£1.8bn) lawsuit brought by a shareholder against two BP executives on the board of the oil major’s Russian joint venture, TNK-BP, after a judge denied the claimant more time to gather the necessary shareholder support. Andrey Prokhorov, a minority shareholder in TNK-BP, filed a claim [...]
Trapattoni’s Ireland benefit from Euro 2012 play-off seeding boost October 12, 2011 THE REPUBLIC of Ireland’s hopes of qualifying for Euro 2012 were given a major boost yesterday after Uefa confirmed Giovanni Trapattoni’s side as one of the seeded teams ahead of today’s play-off draw. Ireland secured second spot in Group B following Tuesday’s jittery 2-1 home win over Armenia and will now avoid the likes of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 11, 2011 FINANCIAL TIMES MPS SET TO GRILL TAX OFFICIAL The UK’s top tax official is likely to be questioned by MPs today over leaked documents concerning the settlement of a tax dispute with Goldman Sachs. Dave Hartnett, permanent secretary for tax at Revenue & Customs, shook hands on a settlement last December that apparently waived a [...]