Investors are turning to ETFs as uncertain times continue June 17, 2009 WHEN American private equity firm Blackrock recently acquired Barclays Global Investors in a deal worth $13.5bn it was seen as a smart move by some industry analysts, largely because of BGI’s involvement in the exchange-traded-funds (ETFs) industry through its £375bn iShares business. ETFs have been big in the US for many years, and the financial [...]
China offers $10bn loan to its key allies June 16, 2009 CHINA will offer a $10bn (£6bn) credit loan to Russia and other key allies to help them through the financial crisis, Chinese President Hu Jintao said yesterday. Speaking at a summit in the Russian city of Yekaterinburg, Jintao said China would provide monetary aid to Russia, Kazakhstan, Uzbekistan, Tajikistan and Kyrgyzstan, who are all members [...]
Deripaska appoints GM chief June 15, 2009 Russian indebted carmaker GAZ said yesterday it had invited a former General Motors executive to head its board of directors. The group, owned by tycoon Oleg Deripaska, said former purchasing chief Bo Andersson had expressed his agreement to take the post. GAZ, along with Russia’s largest lender Sberbank and Canadian car parts group Magna is [...]
Wall Street hit by poor factory data June 15, 2009 US STOCKS tumbled yesterday, marking their worst slide in a month after regional manufacturing data dented optimism about the economy’s health and resource shares fell alongside commodity prices. After a series of signs the economy may be stabilising, investors are looking for more definitive signals of its improving health. Analysts also said a pullback was [...]
OTHER SUMMER HIGHLIGHTS June 14, 2009 Matisse, Thyssen-Bornemisza Museum, MadridUNTIL 20 SEPTEMBERwww.museothyssen.orgIn 1917 Matisse moved from Paris to Nice where he forged his unique style, of which this show is a celebration. It was a naturalistic, muted period that produced paintings “unjustly disparaged by avante-garde critics,”according to the museum’s artistic director. Highlights of this 70-work strong show include the intimate and [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 11, 2009 FINANCIAL TIMES GAZPROM IN IRAN PIPELINE TALKSGazprom is in talks with Iran and Pakistan to build a large section of a long-awaited gas pipeline between the two countries, a senior Iranian energy official says. The participation of Russia’s state-controlled energy group could kick-start the pipeline project, which has been delayed because of disagreements that have [...]
From Russia with laughs June 11, 2009 TheatreTHE CHERRY ORCHARDThe Old VicTHIS new production by Sam Mendes is one half of a double bill under the title of The Bridge Project, conceived by Mendes and Old Vic artistic director Kevin Spacey to bring together an Anglo-American company touring two productions at once. The other show is Shakespeare’s A Winter’s Tale. It might [...]
Chrysler and Fiat seal their partnership June 10, 2009 ITALIAN carmaker Fiat and Detroit giant Chrysler said yesterday their ambitious partnership deal is now in action, a day after the US Supreme Court gave it the go-ahead. The tie-up will see Fiat chief executive Sergio Marchionne become the new head of Chrysler. In a message last night to his new employees he said he [...]
HSBC launches Russian project June 9, 2009 HSBC is moving into retail banking in Russia, in a bid to take advantage of the country’s burgeoning middle class, which the bank said was “relatively undamaged” by the recession. Europe’s largest bank opened its first retail branch in Moscow yesterday and is planning three more in the Russian capital and another in St. Petersburg. [...]
Dynamic businesses are travelling smarter, faster and cheaper, too June 7, 2009 BUSINESSES are spending 20-25 per cent less on travel than they were this time last year. The average cost of a business hotel room is down 18 per cent. There are 15 per cent fewer business trips being made than 12 months ago. So says Egencia, the corporate travel management company. The recession has had [...]