Opening up a new vista in air travel October 23, 2011 THE Nina J is bobbing up and down in the clear sparkling Riviera water, flanked by other super yachts that occasionally eject bevies of python and white linen-clad babes ready to take Monaco by storm. Around the pier, portly perma-tanned sugar daddies squeeze the waists of their young Ivankas as they ponder how to blow [...]
Output up at Petropavlovsk October 20, 2011 Russian gold miner Petropavlovsk said yesterday that its third-quarter output rose 65 per cent, beating most forecasts, and that it was confident of meeting its full-year target of 600,000 ounces. The company, which operates three open-pit gold mines in Russia’s far east, produced 228,110 oz in the three months to the end of September, 65 [...]
SAB in tie-up with Efes October 20, 2011 SABMILLER is joining forces with Turkey’s Anadolu Efes to become the number two brewer in Russia in a deal that gives the London-based group a 24 per cent stake in the leading Turkish brewing group. SABMiller, which last month agreed to buy Australian rival Foster’s for $10bn (£6.3bn), said yesterday the deal will put it [...]
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 [...]