TNK-BP inks $1bn Brazil deal October 31, 2011 BRAZILIAN oil start-up HRT said yesterday it signed a $1bn (£619.4m) agreement with BP’s Anglo-Russian oil joint venture TNK-BP for the sale of a stake in oil fields in the Amazon. HRT said it would receive the funds over two years for the sale of a 45 per cent stake in 21 exploratory blocks located [...]
SPORT | IN BRIEF October 27, 2011 Tuilagi out injured for six weeks RUGBY UNION: Leicester Tigers centre Manu Tuilagi is likely to be out of action for six weeks with a broken cheekbone. Tuilagi, one of the few on-pitch success stories from England’s World Cup campaign in New Zealand, was hurt in last week’s win over Gloucester. The injury will rule Tuilagi out [...]
Disney buys stake in a Russian firm October 27, 2011 MICKEY Mouse will have to take a crash course in Russian after Walt Disney announced it will expand its presence in the country. The firm will launch a free Disney Channel that will reach about 40m households in one of the world’s fast-growing entertainment markets. The decision followed a meeting between chief executive Bob Iger [...]
BRICs consider options for aid and investment October 26, 2011 EMERGING giants India, Russia and Brazil ruled out contributing to the Eurozone bailouts – though Chinese leaders were yesterday said to be considering offering help. China has bought Spanish bonds in the past, and was last month courted by Italy as a potential investor. Last night the country’s leaders were said to be mulling over [...]
BAT in sales rise as price hikes kick-in October 26, 2011 BRITISH American Tobacco (BAT) lifted its sales by seven per cent in the first nine months of the year as the firm saw price rises and recovering volumes in the third quarter. The London-based maker of Kent, Dunhill, Lucky Strike and Pall Mall cigarettes said a good performance from these top four brands would help [...]
Rosneft snaps up BP exec October 26, 2011 RUSSIA’S top oil producer Rosneft yesterday beat forecasts with a $2.82bn (£1.78bn) third quarter net profit, as the state-owned giant ploughs on with its international expansion efforts. Rosneft has hired a former BP project director to help it forge ties in the international market, just months after the firm’s $10bn share swap with BP collapsed. [...]
Polyus Gold delays London listing October 25, 2011 RUSSIA’S biggest gold miner shelved its plans to list on the London Stock Exchange yesterday, saying the Russian government had delayed giving its consent to the deal. Polyus Gold, which is headed by billionaire oligarch Mikhail Prokhorov, said it had postponed its main market listing until a Russian government commission approved its plans. “The company [...]
CITY MOVES | WHO’S SWITCHING JOBS October 25, 2011 Pemberton Capital Advisors The private equity firm has appointed Christopher Higgins as chief operating officer and Sarah Whitehead (pictured) as internal legal council. Prior to joining Pemberton, Higgins was chief adminstration officer of the non-core division of RBS and held a number of management roles in the debt and credit markets businesses of RBS’s global [...]
TNK-BP management calls for suit against BP October 25, 2011 TNK-BP, BP’s joint venture in Russia, has said it generated $2.3bn (£1.4bn) in net profit in the third quarter, 57 per cent up on the same period in 2010, as output and the price of oil have risen. Its management have caused fresh headaches for BP chief executive Bob Dudley, though, by calling on the [...]
Polymetal to raise £518m in London IPO October 24, 2011 RUSSIAN gold and silver miner Polymetal loosened the conditions on its share swap plan yesterday to push through its bid to raise more than £500m on the London Stock Exchange. Polymetal, the world’s third-largest silver producer and currently part-controlled by tycoon Alexander Mamut (pictured), said it would price its flotation at between 910p and 1,035p [...]