FTSE 100 recovers after sharp falls yesterday November 8, 2012 The leading share index was up in trading this morning, after falling sharply yesterday. Miners led the bounceback, helped by a recovery in copper prices. Russian-focused oil firm Ruspetro added 7.4 per cent in early deals, as it reported a well in Siberia was on track to meet its full-year targets. Healthcare provider BTG was [...]
China row drags on Nissan sales as it cuts its full-year forecasts November 6, 2012 COUNTING the cost of anti-Japanese protests in a territorial dispute with China, Nissan Motors yesterday cut its full-year net profit forecast by a fifth to $3.99bn, and said it had lost share in its biggest market. July to September net profit rose 7.7 per cent to ¥106bn, Nissan said, despite lower than expected car sales [...]
Shell seals $4bn Bashneft deal November 6, 2012 Royal Dutch Shell has sealed a two-year deal worth up to £2.5bn to supply oil to mid-sized Russian refiner and retailer Bashneft, the Russian firm said yesterday, extending an existing agreement between the two sides. The deal, worth 122.4bn roubles (£2.5bn), is signed until 25 November 2014, while the previous agreement expires this month, Bashneft [...]
What the other papers say this morning November 5, 2012 FINANCIAL TIMES KCELL SET TO PURSUE LONDON LISTING Investor appetite in London for companies from the former Soviet Union will be tested with plans for the second mobile operator flotation to be announced in the space of a month. Kcell, the largest mobile operator in Kazakhstan, plans to list about a quarter of its equity [...]
Credit Insurance Explained November 1, 2012 JULIE PALMER BEGBIES TRAYNOR The Christmas trading period is a “Russian Roulette” quarter for retailers, Julie Palmer, a partner at law firm Begbies Traynor explains. “The retailer has to decide to what level they are going to stock their stores, which places heavy demand on their cash flows to fully stock if the suppliers won’t [...]
Rosneft profit jumps ahead of $55bn TNK-BP takeover November 1, 2012 KREMLIN-controlled energy producer Rosneft yesterday posted soaring profits, just a week after announcing its $55bn (£34bn) acquisition of Anglo-Russian oil firm TNK-BP. Profit for the three months to September came in at a five-year high of 181bn rubles (£3.59bn), up from a loss of 8bn rubles in the previous quarter, thanks to higher oil prices, [...]
Seismic firm in London listing October 31, 2012 ■ Newly-formed IG Seismic Services is the latest Russian company to seek a London float, after yesterday announcing its intention to list its global depository receipts on the main market. IGSS, which provides seismic services to Russian oil and gas companies, believes it is well-placed to capitalise on strong growth in high-technology seismic services. The [...]
What the other papers say this morning October 30, 2012 FINANCIAL TIMES Google and Starbucks face grilling Google and Starbucks will be subjected to parliamentary scrutiny over their tax affairs on Monday with the public accounts committee demanding the two US corporate giants give evidence. The committee has agreed to call in the two companies to give evidence at a session into Revenue & Customs [...]
Profile: Andrea Orcel October 30, 2012 WHEN Andrea Orcel left Bank of America Merrill Lynch earlier this year to join UBS as its co-head of investment banking, many in the City believed it was only a matter of time before he claimed the top job, writes David Hellier. Yesterday the Swiss bank announced that Orcel will be leading the advisory functions [...]
Russian sale helps BP hike its dividend October 30, 2012 OIL giant BP yesterday announced a quarterly dividend hike of 12.5 per cent, as it reported a jump in third quarter profit. The dividend increase to nine cents a share, which will be paid in the fourth quarter, was announced just days after BP confirmed it is to sell its 50 per cent stake in [...]