Sberbank set for record year December 6, 2010 SBERBANK, Russia’s biggest lender, yesterday beat forecasts for third-quarter net profit, helped by a bigger loan portfolio and lower provisions, putting it on course for a record year. “We expect fourth-quarter results to be no worse than in the third quarter,” chief financial officer Anton Karamzin said on a conference call yesterday, adding full-year net [...]
The head of the world’s largest law firm reveals his plans for expansion December 5, 2010 The new chairman of Baker & McKenzie has a tricky hand to play. Eduardo Leite, who began his three-year term at the beginning of last month, may lead over 10,000 staff (including 4,000 lawyers) spread over 40 countries in 68 offices. And the firm may have produced the biggest revenues in the industry this year [...]
Getting to grips with the BRICs: Foreign Office insights for the City December 5, 2010 FOUR former British Ambassadors to Brazil, Russia, India and China gathered recently at the Royal Automobile Club in SW1 to discuss these fast-growing economies, collectively nicknamed the BRICs. The objective was to help an audience of business people better understand how these countries see themselves in the context of their emerging status as world powers; [...]
Fifa upheaval is England’s best hope of a winning bid December 5, 2010 BY 2030, the next time England could possibly host the World Cup, I expect Fifa to have changed. I think the Football Association will lobby massively for that to happen following the ridiculous humiliation they endured over their bid to host it in 2018. That change could mean each member association having one vote, instead [...]
Accusations fly after England humiliated December 2, 2010 A BACKLASH at media allegations of corruption and vote-swapping pacts were blamed last night after England’s bid to host the 2018 World Cup ended in abject humiliation. England were eliminated from the contest in the first round of the secret ballot after polling just two votes – one of which was from their own delegate [...]
Russia and Qatar toast success as tournament breaks new ground December 2, 2010 RUSSIA and Qatar celebrated last night after their vows to take the World Cup into uncharted territory earned them the right to stage the 2018 and 2022 tournaments. Qatar, with a population of less than two million, were the shock winners, but Russia also prevailed having been almost written off just hours earlier. Prime Minister [...]
Beckham claims he and other big guns could not have done more for bid December 2, 2010 FORMER England captain David Beckham was left crestfallen last night claiming the bid team “did everything possible” to bring the World Cup home for the first time since 1966. A stellar charm offensive, led by Beckham, Prime Minister David Cameron and Prince William, had seen England’s odds of hosting the 2018 tournament shorten dramatically, but [...]
2018 can still boost UK GDP December 2, 2010 PRIME minister David Cameron’s 110 per cent he said he was putting into the UK’s dream of hosting the 2018 World Cup may not have been enough, but the economy can still benefit – if our team can stay in the tournament long enough, an expert said yesterday. Howard Archer, chief economist at consultancy IHS [...]
TUX-CLAD SOLICITORS FLOCK TO FISH MARKET December 2, 2010 HUNDREDS of lawyers gave their well-worn tuxedos another outing last night as they gathered for the British Legal Awards hosted by Legal Week, with the barristers characteristically out-dressing the solicitors. Catching City of London law society chair Bill Knight sharing a drink with Norton Rose’s Sir David Lewis before the evening kicked off, The Capitalist [...]
PepsiCo eyes Russia for growth December 2, 2010 PEPSICO said yesterday it will buy a majority stake in Russian juice and dairy company Wimm-Bill-Dann (WBD) for an initial deal price of $3.8bn (£2.43bn) in its most ambitious overseas purchase to date. The deal will make PepsiCo Russia’s largest food and drink maker. PepsiCo plans to buy 66 per cent of the firm. However, [...]