Khodorkovsky’s pardon causes market gains December 19, 2013 RUSSIAN stock markets gained yesterday after Russian President Vladimir Putin vowed to pardon Mikhail Khodorkovsky, once Russia’s richest man, after he spent more than ten years behind bars. The move was seen as a boost for investors increasingly worried about political freedoms and Russia’s ability to reform the economy. Russian stocks have underperformed emerging market [...]
Moscow to assist Yanukovich December 17, 2013 The Russian government has offered a major package of economic assistance to embattled Ukrainian President Viktor Yanukovich, who is facing huge protests in his own country. Russia is now set to buy $15bn (£9.22bn) of Ukrainian bonds to help boost the country’s public finances. Moscow is also slashing the price that Ukraine pays for Russian [...]
BP-led consortium signs £17bn Azerbaijan gas supply contract December 17, 2013 A CONSORTIUM of oil majors, including BP and Statoil, yesterday confirmed that they have signed a $28bn (£17.2bn) deal that will bring gas from Azerbaijan into Europe. The project aims to produce 120,000 barrels of condensate gas per day from the Shah Deniz field in Azerbaijan – expanded from 50,000 barrels per day – over [...]
City Moves for 13 December 2013 | Who’s switching jobs December 12, 2013 Quintant Partners The insurance and technology firm has hired Guy Shepherd as director for technology and solution design. He has over 20 years’ experience developing insurance technology solutions. Shepherd was formerly at PwC, where he was head of its insurance modelling practice. TSB The bank has announced the appointment of Susan Crichton as general counsel. [...]
TCS shines with maiden results December 9, 2013 SHARES in Russian credit card firm TCS Group yesterday remained stubbornly lower than their November float price, despite the firm posting a 22 per cent rise in profits. The business, founded by Russian entrepreneur Oleg Tinkov, closed at $14 a share after it said pre-tax profits rose to $61m for the three months ending September, [...]
Why one bank is pretty optimistic about Carlsberg December 4, 2013 Things haven't been all plain sailing for Carlsberg recently, but a re-focus and careful cost savings mean it's still a top pick, according to Bank of America Merrill Lynch (BoAML). In mid-November, the world's fourth largest brewer reported third quarter results that were dragged down by falling sales in Russia – its largest market, which [...]
Exillon Energy investor mulls takeover offer December 3, 2013 FTSE 250-listed oil explorer Exillon Energy’s second largest shareholder yesterday said it had approached the board to make a possible offer for the rest of the company. Hanberg Finance, which is owned by Russian billionaire entrepreneur Mikhail Gutseriev, currently holds a 14.9 per cent stake in Exillon. It is considering making a bid of at [...]
Fulham’s new boss denies betraying Jol over sacking December 1, 2013 NEW FULHAM boss Rene Meulensteen last night denied that his recent arrival at Craven Cottage had triggered the departure of Martin Jol, insisting that he was shocked to hear of his fellow Dutchman’s sacking. Meulensteen only joined Fulham as head coach less than three weeks ago, prompting suggestions he was being lined up as Jol’s [...]
Louis Vuitton’s Russian case to be packed up November 27, 2013 A GIANT Louis Vuitton suitcase in Moscow’s Red Square is set to be dismantled after locals criticised the installation for trivialising a “sacred space” for the Russian state. Department store GUM, which set up the suitcase to house an exhibition about luggage produced by the luxury brand, said yesterday that it would remove it.
Reading the HS2 bill before consultation ends is equivalent to finishing War and Peace every other day November 25, 2013 Want to be properly informed about the HS2 debate, and you've maybe even considered reading the bill? An estimated length of around 49,000 pages might make you reconsider. The Woodland Trust say that attempting to finish the document is roughly equivalent to reading Leo Tolstoy's Russian classic "War and Peace" every other day. Here are [...]