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 [...]
LISTED PRODUCT NEWS September 22, 2010 BLACKROCK’S ISHARES OFFERS NEW ETFS The Exchange Traded Funds (ETF) platform of BlackRock, iShares has launched a new swap-based product platform, which gives exposure to India and Russia. This development is in response to the growing appetite for exposure to difficult to access markets. The first products to roll off the platform and list on [...]
HOLLYWOOD DIRECTOR HAS POP AT GOLDMAN September 22, 2010 HOLLYWOOD director Oliver Stone is clearly a very brave man, having taken a figurative pop at not one, but two of the world’s most successful businessmen in the past week. Just a few days ago, it emerged that Stone – currently on a publicity flash tour to coincide with the opening of his new film, [...]
Imperial Tobacco says it is on target for forecasts September 22, 2010 IMPERIAL Tobacco Group said yesterday it had suffered no further deterioration in volumes in its fourth quarter. Full-year volumes at the Lambert & Butler and Fortuna maker were down by around the same 4.3 per cent seen at the nine-month stage, contrasting with its statement in July when it reported volumes had worsened from a [...]
Imperial Tobacco trading hitting forecasts September 22, 2010 Imperial Tobacco, the world’s No.4 cigarette group, said its cigarette volume were in line with the 4.3 per cent fall seen at its 9-month stage as its financial performance stayed in line with its own expectations. The group, which acquired Franco-Spanish group Altadis in January 2008, said its global key cigarette brands continued to perform [...]
Severstal plans London float September 21, 2010 RUSSIAN steel group Severstal is expected to launch a float of its gold mining division in London later this year. Severstal, which owns a portfolio of gold assets in Russia and west Africa, is likely to sell off around 30-35 per cent of the company, retaining a large controlling stake for itself. The float is [...]
Fund managers are seeking Brazilian market exposure September 21, 2010 ARE CIVITS the new BRICs? The emerging market acronym – BRICs – standing for Brazil, Russia, India and China has been cast aside for CIVITS, the latest buzzword for China, India, Vietnam, Indonesia, Turkey and South Africa. But rather than get excited by the new entries, some fund managers are chasing after the developing middle [...]