Russia hoping to sell stake in VTB?for $3bn October 12, 2010 THE Russian government hopes to sell a 10 per cent stake in VTB, the country’s second biggest lender, for at least $3bn (£1.9bn) in late 2010 or early 2011, first deputy Prime Minister Igor Shuvalov said yesterday. The sale is set to kick-off Russia’s biggest privatisation campaign since the 1990s, with the government hoping to [...]
Hunting growth on the frontiers as the West sinks deep into solipsism October 11, 2010 PLAMEN Monovski doesn’t immediately come across as an aggressive investor in some of the world’s least explored markets. He sits almost demurely at a table overlooking a sunny, 12th-floor view of the City, sipping a cappuccino and speaking in genteel, accented tones, often punctuated by a mild smile. But don’t be fooled. Monovski has been [...]
Heathrow traffic climbs as long haul flights rise October 11, 2010 HEATHROW Airport posted record September traffic figures after 6.2m people used the UK hub, raising hopes of an air industry recovery. Passenger numbers at Heathrow were up by 7.6 per cent last month, marking the largest yearly increase since July 2004, according to airports operator BAA. Heathrow saw more passengers flying to Brazil, India, Russia [...]
Emerging markets’ illness small but persistent October 10, 2010 FAR BE it for me to ruin your Monday but I am starting to get a bad feeling about emerging markets. Let me put that in context. On a medical scale I would call it more of a slight itch than a life-threatening condition, but it is definitely persistent. EMERGING MARKETS GROWTH SLOWS HSBC knows a thing [...]
Manufacturers’ costs soar October 8, 2010 Manufacturers’ raw materials costs rose almost twice as fast as expected last month propelled by higher wheat prices, taking the annual rate well above expectations, official data showed. The Office for National Statistics said producer input prices rose 0.7 per cent on the month in September, taking the annual rate up to 9.5 per cent [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 7, 2010 FINANCIAL TIMES UK AND FRANCE IN TALKS ON TRIDENT MAINTENANCE An agreement being negotiated by the UK and France would see British nuclear warheads serviced by French scientists and break with half a century in which neither country has collaborated on its independent deterrent. Ahead of a summit in three weeks, the governments are close [...]
Russian grocer O’key planning a £315m London share offer October 5, 2010 RUSSIA’S third biggest food retailer O’key plans to raise up to $500m (£315m) in a London share offer to fund expansion, making it the latest Russian firm to revive IPO plans. O’key, which operates a 52-store chain, will launch a global offering of global depositary receipts (GDRs), with each GDR representing one share, by the [...]
UK manufacturing growth at ten-month low October 1, 2010 Activity in the manufacturing sector weakened more than expected in September to grow at its slowest pace in ten months, as export orders fell for the first time in more than a year, a survey showed. The Markit/Chartered Institute of Purchasing and Supply manufacturing PMI index fell to 53.4 in September from a downwardly revised [...]
CITY MOVES | WHO’S SWITCHING JOBS September 30, 2010 Threadneedle The investment manager has appointed Vanessa Donegan, a founding member of its investment team, as head of Asia and global emerging markets. Donegan has 30 years of experience in fund management, including her most recent role as Threadneedle’s head of Asia Pacific equities. She will now be responsible for overseeing the management of £6.5bn [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 28, 2010 FINANCIAL TIMES FOX SAVAGES TREASURY ON DEFENCE CUTS Liam Fox, the defence secretary, has launched a big assault on the Treasury’s attempt to slash his department’s budget, warning that “draconian” cuts to military spending cannot be implemented without “grave consequences” for the Conservative party and the government. In a head-on attack on chancellor George Osborne’s [...]