CITY MOVES WHO’S SWITCHING JOBS September 16, 2009 DeloitteThe business advisory firm has hired Carl Bates and Ed Marsden as partners in its technology, media and telecoms (TMT) data team. Both join from Detica, where Bates, pictured, was managing director for the UK consulting business and Marsden led the TMT practice. Bates also previously spent four years as a director at Deloitte, while [...]
Eurasian eyeing African rival September 16, 2009 MINING group Eurasian Natural Resources (ENRC) said yesterday it was in advanced talks to buy the Central African Mining and Exploration Company (Camec), in a deal which could be worth £574m. The Kazakh company, which produces raw materials for steelmaking and provides them to Russia and China, said it was considering a cash offer of [...]
BoNY nears Russian deal September 14, 2009 THE RUSSIAN government is set to bring its $22.5bn (£13.6bn) lawsuit against Bank of New York Mellon (BoNY) to an end after the bank agreed to provide credit to Moscow-based banks, sources told City A.M last night. An out-of-court settlement is being discussed that will see the USbanking giant restart trade-finance lending to banks nominated [...]
Briton claims USOpen girls’ title September 13, 2009 TENNIS: Guernsey teenager Heather Watson became the first British winner of the US Open girls’ title yesterday when she landed her maiden Grand Slam honour. The 17-year-old beat her doubles partner, Russia’s Yana Buchina, in straight sets to emulate men’s world No2 Andy Murray, who won the junior title at Flushing Meadows in 2004.
Investors grab Arcandor stake in Thomas Cook September 10, 2009 CREDITOR banks of insolvent German retailer Arcandor yesterday completed the placing of a 43.9 per cent stake in travel firm Thomas Cook in one of the biggest share placings in Britain in recent years. The placing removes uncertainty about future ownership of the stake and lifted the company’s share price. It was a further sign [...]
Fergie and Wenger join forces in poach row September 10, 2009 MANCHESTER UNITED boss Sir Alex Ferguson has joined forces with old foe Arsene Wenger in speaking out against the “poaching” scandal, which has plagued the reputation of English football. International governing bodies, Uefa and FIFA, want to outlaw the overseas transfers of players under the age of 18, following claims from abroad that Premier League [...]
The definitive Madoff book, with panache September 9, 2009 MADOFF: THE MAN WHO STOLE $65MBY ERIN ARVEDLUNDPenguin, £9.99 ERIN ARVEDLUND has written this book with relish – and not a small amount of “I told you so”. This is because, as an investigative reporter for big US financial publications, she blew the whistle on Madoff in 2001, with a big article for Barron’s pointing [...]
CNPC secures 30bn funding September 9, 2009 CHINA National Petroleum Corp (CNPC), parent of Asia’s largest oil and gas producer PetroChina, said yesterday it had secured a $30bn (£18.13bn) state loan to fund overseas expansion, as Beijing seeks to secure resources for the world’s fastest-growing major economy. The Chinese government, sitting on more than $2 trillion in foreign exchange reserves, has this [...]
Double dose of defeat leaves hopes in tatters for suffering Scots and Irish September 9, 2009 SCOTLAND’S World Cup dreams were left shattered last night, as they slipped to a 1-0 defeat against the Netherlands at Hampden Park. George Burley’s men needed a win to have any realistic hope of snatching a play-off place but Dutch substitute Eljero Elia stepped off the bench to hit a late winner and break Scottish [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 8, 2009 FINANCIAL TIMES SCRUTINY THREATENS SUCCESS OF BAIKAL, SAYS LSERegulatory scrutiny over “dark pools” and the failure of most such platforms in Europe to make money mean that Baikal, the London Stock Exchange’s planned platform, “might not work”, says Xavier Rolet, LSE chief executive. “It’s not impossible that it might not work,” Rolet said. He said [...]