CITY MOVES | WHO’S SWITCHING JOBS June 21, 2011 Linklaters The law firm has appointed Michael Cutting as global head of competition and Sir Christopher Bellamy (pictured) as chairman of the practice, both effective from 1 July. Cutting, who has been a partner at the firm since 2005, specialises in banking, energy and utilities competition law, and takes over from Gerwin Van Gerven, who [...]
Investors flock to cheap Russian IPO June 20, 2011 RUSSIAN port operator Global Ports has received enough orders for 75 per cent of the shares it plans to offer in its up to $572m (£355m) London listing. The container terminal operator, a unit of Russian freight group N-Trans, began a roadshow to drum up interest in the company amongst investors just three days ago. [...]
Boeing admits end of duopoly in sight June 20, 2011 BOEING has admitted that its dominance over the market for large commercial aircraft it has shared with its rival Airbus will soon come to an end. Speaking at the Paris Air Show yesterday, Jim Albaugh, head of Boeing’s civil jet division said: “the days of the duopoly with Airbus are over” as emerging global competition [...]
Business weighs risks of Russian investment June 19, 2011 AS the St Petersburg International Economic Forum wrapped up over the weekend, the business leaders and investors who flew into Russia to see President Dmitry Medvedev outline his vision for attracting foreign investment into the resource rich former super power were hopeful that reform is finally on the way, but sceptical that the Russian leadership [...]
GB slip to fourth despite Thomas win June 19, 2011 GREAT BRITAIN’s Charlene Thomas claimed a surprise win in the 1500m on the final day of the European Team Championships in Stockholm. Andy Turner also triumphed in the 110m hurdles, continuing his superb season despite rain and blustery conditions. However, Team GB slipped out of the top three after a disaster in the men’s 4x400m [...]
Dudley: BP committed to Russian joint venture June 17, 2011 Oil major BP remains committed to its Russian joint venture TNK-BP, chief executive Bob Dudley has said. Dudley also said that BP was looking at cooperation with state-controlled oil major Rosneft outside Russia, after the co-owners of TNK-BP blocked a deal to search for oil in the Russian Arctic and do a $16bn (£9.9bn) share [...]
Russian port owner prices discount float June 16, 2011 RUSSIAN firm Global Ports has priced its London initial public offering (IPO) at a deep discount, as it looks to raise up to $572m (£355m). The container terminal operator, a unit of Russian freight group N-Trans, set a price range of between $14.70 and $16.10 per global depository receipt (GDR). The list price puts shares [...]
Global Ports IPO to value company at $2.4bn June 16, 2011 Russian logistics group Global Ports is aiming to raise up to $578m (£354m) from its London initial public offering, valuing the company at up to $2.4bn. The group, owned by Russian conglomerate N-Trans, is pricing its 35m-share offer in a range from $14.70 to $16.10. The majority of the offer will comprise existing shares to [...]
Facebook hires Clinton’s former press secretary June 15, 2011 FACEBOOK has hired Bill Clinton’s former press secretary to head up its policy and corporate comms team. Joe Lockhart was the chief spokesman and senior adviser to President Clinton between 1998 and 2000. Lockhart is the latest marquee appointment for the world’s largest social network. In May it hired two former officials who worked for [...]
Baltic Oil suspended from trading on accounts delay June 15, 2011 SHARES in Aim-listed Baltic Oil Terminals were suspended yesterday, after the company admitted it would miss a deadline to provide shareholders with its audited accounts. Baltic was forced to refile its accounting records after irregularities were uncovered relating to its operations in Kaliningrad in Russia. Changes in the senior management team at Kaliningrad earlier this year [...]