Who’s switching jobs November 22, 2012 Rocco Forte Hotels The hotels group has appointed Christian Renz to the newly-created role of global sales director. He most recently worked in senior roles at Kempinski Hotels, and has also held positions at Marriott International and the Walt Disney Corporation. BDO The accountancy and business advisory firm has announced several appointments to its financial [...]
What the other papers say this morning November 21, 2012 FINANCIAL TIMES Man Group gains from prototype Man Group, the world’s second largest hedge fund manager, has shifted $1.5bn (£940m) of its flagship computerised fund AHL into an experimental new portfolio to boost ailing returns. The new vehicle, which Man has internally dubbed “evolution”, has made 18 per cent so far this year, and made [...]
Why I still support Abramovich’s rule at thriving Chelsea November 21, 2012 ROMAN Abramovich’s decision to dismiss Roberto di Matteo, barely six months after his coach won him the European Champions’ League for the first time in Chelsea’s history, has been roundly criticised by many who follow football. Commentators deplore the oligarch’s inability to settle on a manager and give his club stability. Di Matteo is the [...]
What the other papers say this morning November 20, 2012 FINANCIAL TIMES TNK-BP fails in London civil suit bid TNK-BP, Russia’s third-largest oil producer and the subject of a high-profile sale, has failed in its attempt to sue a former director for civil fraud in English courts. A €39m (£31m) freezing order gained by TNK-BP on its former head of logistics, Igor Lazurenko, his wife, [...]
What the other papers say this morning November 19, 2012 FINANCIAL TIMES SAS staves off bankruptcy SAS has staved off the immediate threat of bankruptcy after all eight unions representing flight personnel at the Scandinavian airline signed up to wage cuts of up to 15 per cent. In a marathon negotiating session that lasted from Sunday morning until yesterday afternoon, SAS managed to convince one [...]
Cable says trade with emerging markets is not a zero sum game November 19, 2012 FAST GROWTH in developing countries represents an opportunity as well as a challenge, claimed Dr. Vince Cable yesterday. “Global growth is undeniably good news,” he told the Confederation of British Industry’s annual conference. “We should welcome the fact that vast swathes of humanity…are now clawing their way out of poverty – they will expand the [...]
Mail.Ru exits Zynga and Groupon November 19, 2012 Russian email-to-social networking group Mail.Ru has sold all the shares it owned in US daily deal website Groupon and Facebook game maker Zynga, the company announced yesterday. Mail.Ru has been cutting its holdings in US internet companies, including social networking site Facebook, gradually this year. As of 9 November, it owned 0.16 per cent of [...]
Potential problems in the oil pipeline remain November 19, 2012 NOT long ago, the peak oil consensus painted a picture of a future of uncontrollably spiking oil prices. The rapid rise of developing market demand would lead to a squeeze on oil markets and surging oil prices. But as oil and gas producers can attest, many of these forecasts have come to nothing – a [...]
Branson ups the stakes in flight wars November 18, 2012 VIRGIN Atlantic is hoping to break British Airways’ traditional dominance of UK short haul air travel, after being picked to take over a dozen slots at Heathrow Airport. Virgin confirmed today that it will offer flights to Aberdeen and Edinburgh next year, using the slots that BA has been forced to give up on competition [...]
Megafon drafts in Lord Myners to bolster its UK flotation plans November 18, 2012 MEGAFON, the Russian telecoms group controlled by Arsenal shareholder Alisher Usmanov, yesterday bolstered its corporate governance ahead of a London flotation with the appointment of former City minister Paul Myners as an independent director. The appointment of such a well regarded City figure, who was chief executive of Gartmore Group and chairman of Marks and [...]