New TNK-BP boss lined up May 25, 2009 TNK-BP, BP’s joint venture in Russia, said yesterday it had nominated a former Soviet vice-consul in Uganda as its next chief executive. Pavel Skitovich will replace TimSummers, who has been holding the fort since Bob Dudley fled Russia following a campaign of intimidation. “The search for a new chief executive is over,” a spokesperson for [...]
Sastre making his move May 25, 2009 CYCLING: Tour de France champion Carlos Sastre moved to third in the overall standings the Giro d’Italia after fighting back to win the marathon 16 stage. Spaniard Sastre edged out Ukrainian Yaroslav Popovych to move to within two minutes, 19 seconds of second place Danilo Di Luca in the race for the Pink jersey. Russia’s [...]
Higher oil prices push TNK-BP into black May 21, 2009 TNK-BP returned to profit in the first quarter, it said yesterday, while analysts predicted other Russian oil majors would follow as higher oil prices and a drop in export taxes reversed losses sustained last year. TNK-BP, half-owned by BP, posted a first-quarter net profit of $747m (£471m), down 58 per cent year-on-year, as lower crude [...]
Fiat confirms bid for Opel as GM splits up May 20, 2009 FIAT, one of the three bidders eyeing German carmaker Opel, confirmed it had submitted an offer for the General Motors’ (GM) owned firm ahead of yesterday’s deadline. Two other firms; Canadian-Austrian car parts group Magna and investment firm RHJ International have also entered formal bids for Opel, which ailing GM has put up for sale [...]
Unicredit hit but still bullish on East Europe May 13, 2009 ITALY’S UniCredit, the biggest lender in central and eastern Europe, is more upbeat about the recession-hit region as asset deterioration there slows, the bank said yesterday. Its optimism came in spite of a dramatic drop in first quarter pre-tax profit which fell 58 per cent to €447m on lower fees. And sales were also down [...]
Brain-drain? It’s nothing but a blip September 10, 2008 Lots of City workers are heading for Dubai at the moment, but don’t worry: London will lure them back soon, says Max Orbach We all know somebody who has re-located to Dubai, Singapore or even Moscow in the last few months, as the British economy has wobbled, house-prices have fallen and inflation has risen. While [...]
The time has finally come to go short on oil September 8, 2008 Decreased production and low consumption mean that fuel prices are falling, says Katie Hope The black stuff is finally on the slide. From the heady heights of July this year when oil hit $147 a barrel and analysts were predicting it could catapult to $200 a barrel, forecasters are now betting the next move will [...]
England to be low scorers against Andorra September 5, 2008 England are a best priced 1/50 with Ladbrokes to see off a side ranked 186th in the FIFA World rankings. Incidentally, the “hosts” can be backed at a massive 80/1 with Boylesports to win the game and the draw is a top priced 30/1 with Betdaq. Andorra have avoided defeat in only three of their [...]
Dispute ends as BP loses its man in Russia September 5, 2008 The Long-running dispute between BP and its Russian partners at joint venture TNK-BP drew to a close yesterday, after the two signed a deal which paves the way for floating up to 20 per cent of the company. But the embattled chief executive Bob Dudley, who was chosen by BP, will get the chop – [...]
From Putin to Pitt: a fascinating glimpse into the mind of America September 4, 2008 Vanity Fair’s power list says a lot about the country that produced it, says Jeremy Hazlehurst You will, no doubt, remember that famous New Yorker magazine cover from the 70s that showed The World From Ninth Avenue. It shows Ninth Avenue in the foreground, 10th Avenue behind it, then the Hudson River. Behind this, in [...]