WHAT THE OTHER PAPERS SAY THIS MORNING June 4, 2009 FINANCIAL TIMES AQUASCUTUM IN BUY-OUT TALKSAquascutum, the classic British clothing brand, could be sold to the Hong Kong clothier that distributes the label in China and south-east Asia after an offer from the brand’s management to buy the business was rejected at the eleventh hour last week. Japan’s Renown, which bought the British label in [...]
The devil’s in the detail: the trials and tribulations of a property sage June 3, 2009 THERE comes a time in your life when you can draw a line and say: ‘I’ve done a lot of things in my life’, barks Gerald Ronson, thumping a gnarled fist on the table for emphasis. He’s not wrong. Now the undisputed Sage of Property, Ronson, 70, has spent the past half a century constructing [...]
Bargains help New Look to book a profit June 3, 2009 BUDGET clothing retailer New Look said yesterday it snatched market share from high street rivals Marks & Spencer and Next in the year to end March, as the recession caused consumers to seek cheaper fashion alternatives. The group, owned jointly by founder Tom Singh and private equity giants Permira and Apax, reported a pre-tax profit [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 2, 2009 FINANCIAL TIMESCARLSBERG SEEKS TO EXTEND REACH IN ASIACarlsberg, the Danish brewer, is planning further expansion in Asia to help reduce its substantial exposure to the volatile Russian beer market. “We do see Asia as being a place to expand and invest in,” Jørgen Buhl Rasmussen, chief executive, told the Financial Times in an interview. He [...]
Russian support has allowed Magna to rise above the rest May 31, 2009 OUTBIDDING rivals Fiat, Brussels-based IHJ International and Beijing Automotive Industry Corp (BAIC) to secure the acquisition of Opel and Vauxhall was a coup for Magna’s owner, Frank Stronach. It takes him back to his European roots, and gives the company the opportunity to milk the ever-expanding Russian car market. Stronach is an Austrian émigré who [...]
Lampard: FA Cup would be ideal boost May 28, 2009 CHELSEA vs. EVERTON CHELSEA’S Frank Lampard insists FA Cup glory is the least they deserve for their rapid improvement under Guus Hiddink.Dutchman Hiddink’s tenure as temporary manager will come to an end after tomorrow’s season-ending Wembley showpiece against Everton. The erstwhile Russia coach has transformed the Blues from no-hopers to challengers for three trophies since [...]
Fresh row in TNK-BP saga May 27, 2009 THE acrimony between BP and its partners in the TNK-BP joint venture flared up anew yesterday as a group of Russian shareholders put up their own candidate to rival the British company’s choice of chief executive. BP unveiled Pavel Skitovich, a former head of Russian mining firm Polyus Gold, as its choice to lead the [...]
Russian firm invests $200m in Facebook May 26, 2009 THE queue of investors itching to cash-in on social networking site Facebook was long. But Russia’s Digital Sky Technologies (DST) pipped the competition to the post yesterday when Facebook, run by 24 year old Harvard drop-out Mark Zuckerberg, accepted a $200m (£126m) investment from the company, controlled by Yuri Milner. Milner’s company owns Russia’s largest [...]
Keep an eye on geopolitics: it matters to the forex markets May 26, 2009 OPPORTUNISTIC currency traders have always been quick to price in oil price spikes, non-standard monetary policies and signs of green shoots, sending currencies up and down depending on the level of risk aversion in the markets. Risk appetite, or the lack of it, has been a major driver of currency movements since the start of [...]
UN CONDEMNS NUCLEAR TEST May 25, 2009 NORTH Korea tested a nuclear weapon yesterday, briefly shaking Asian markets and triggering an emergency UN Security Council meeting on the communist state’s act of defiance. US President Barack Obama said Pyongyang’s bid to develop nuclear weapons was a threat to international peace and security, and called on world leaders to condemn the test. China, [...]