WHO’S SWITCHING JOBS May 1, 2012 Providence Resources The Aim-quoted oil gas and exploration company has appointed Simon Brett as chief financial officer with immediate effect. He has previously held senior finance positions with Damovo Ireland and Coca Cola Bottlers Ireland, and worked at Johnson Wax, Sega Europe and US Can Corporation. New World Oil and Gas The oil and gas [...]
BP profit falls as Gulf spill takes toll May 1, 2012 Oil najor BP reported a bigger-than-expected drop in profits despite an increase in crude prices, as production fell after it was forced to sell fields to pay for the Gulf of Mexico oil spill. London-based BP added it would continue its disposal programme, putting some smaller fields in the Gulf of Mexico on the block. [...]
Barclays won’t let pay row deflect it from broader goal April 30, 2012 BARCLAYS Bank’s objective to have an investment banking operation as successful in equities and advisory as Deutsche Bank or any of the other bulge bracket firms is constantly being questioned, both by rivals and by analysts and shareholders. Some say the bank will bottle it as costs get out of control; others say that franchises [...]
FTSE losses limited by Aberdeen April 30, 2012 The FTSE 100 was solid this morning as Aberdeen Asset Management reported a bounce back in client funds, making it the top riser. Investors have been spooked by the Eurozone crisis, which has re-emerged with the debt woes of the likes of Italy and Spain again laid bare. London’s blue chip index has also been [...]
Glencore float fuels wealth of UK’s super rich April 29, 2012 THE wealth of Britain’s richest people, including a series of investors in Glencore, jumped by nearly five per cent to a record £414bn last year, according to new research. The combined assets of the 1,000 most affluent people rose 4.7 per cent, according to the Sunday Times Rich List, despite the nation’s plunge back into [...]
Time for Russia 2.0: Putin’s return promises an economic revolution April 29, 2012 THE Western European view of Russia has not moved with developments in the country since the crash of 1990. To the Western media, Russia remains a kleptocracy run by the mafia. It is seen as secretive, corrupt, plutocratic, hugely unequal and unjust. Yet the challenges that Russia faces are not unique in the world of [...]
Give Robbie job, Grant tells Roman April 25, 2012 FORMER Chelsea manager Avram Grant has urged Blues owner Roman Abramovich to hand interim boss Roberto di Matteo the job on a permanent basis, after the Italian led them to the Champions League final. But Grant admits even reaching the most prestigious match in club football might not be enough for Abramovich, as the Israeli [...]
Polymetal sees earnings climb on gold prices April 25, 2012 RUSSIAN miner Polymetal yesterday reported a 21 per cent jump in profit for 2011, fuelled by high gold prices. The company, which joined the FTSE 100 last year, achieved a $290m (£180m) profit while forecasting that it will produce one million ounces of gold in 2012. Polymetal said the price that it was receiving for [...]
Eni and Rosneft team up to tap oil fields in the Russian Arctic April 25, 2012 ROSNEFT and Eni signed an agreement yesterday in the presence of Russian Prime Minister Vladimir Putin to jointly tap fields in Russia’s Barents and Black Sea zones, in Rosneft’s second Arctic deal in two weeks. The deal may not yield commercial oil production for years, but for Eni it secures a foothold in an untapped [...]
£2.5bn London IPO for Russian phone network April 24, 2012 RUSSIAN mobile phone network MegaFon is set to launch the largest London IPO of the last year, raising up to $4bn (£2.5bn). Investors yesterday announced that they had reached an agreement to float 20 per cent of the firm “as soon as practically possible”, according to Scandinavian telecoms firm and shareholder Teliasonera. It is understood [...]