Gold-related groups might bring markets to life October 3, 2011 GOLD has been one of the few winners of the recent downturn because of its safe haven status, so it should come as no surprise that companies involved in the production of the precious metal should be first in the queue to bring a ray of sunshine to the nearly dormant new issues markets. Polymetal, [...]
Triple salvo from big guns save Spurs from Shamrock shocker September 29, 2011 TOTTENHAM 3 vs SHAMROCK ROVERS 1 `TOTTENHAM striker Jermain Defoe insisted justice had been done after they survived a huge scare at home to Irish part-timers Shamrock Rovers. Spurs looked set to suffer a humiliating Europa League defeat when Stephen Rice diverted a long-range shot to give the visitors a shock lead. But the Premier [...]
BP and oligarchs in arbitration hearing September 28, 2011 BP faced an arbitration hearing yesterday with its billionaire partners in the Russian joint venture TNK-BP, who are claiming damages against the oil giant for breaching a shareholder pact. BP, which has refuted the claims, prompted the spat with the consortium known as Alfa Access Renova (AAR) by agreeing a share swap and Arctic exploration [...]
Norilsk Nickel reinstates its buyback plan September 28, 2011 RUSSIA’S biggest mining company Norilsk Nickel yesterday revived its $4.5bn share buyback plan, which was shelved in February during a dispute with 25 per cent shareholder Rusal. Norilsk, which mines and produces metals including nickel and palladium, said it plans to acquire up to 14.7m shares at $306 each for common shares and $30.66 for [...]
RAPID RESPONSES September 27, 2011 Kudrin can return Russian finance minister Alexei Kudrin being sacked by President Dimitry Medvedev is not nearly as humiliating as President Medvedev being sacked by his Prime Minister, Vladimir Putin. The Kudrin dismissal is a short-term disaster for Russia. That the country did not collapse during the global financial crisis was almost entirely due to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 26, 2011 FINANCIAL TIMES BP PROPOSES FOURTH PIPELINE ROUTE TO BRING AZERBAIJAN GAS TO EUROPE BP is planning a pipeline stretching 1,300 km across three countries to bring gas from Azerbaijan to Europe. The scheme is a new entrant in the highly charged competition to construct a supply route to the Caspian basin and reduce Europe’s dependence [...]
BP investors raise Russian claim September 21, 2011 Minority shareholders in TNK-BP, the Russian oil firm half-owned by BP, have more than doubled their claim for damages over the firm’s attempt to ally with Rosneft to 154.3bn roubles (£3.16bn). The litigation led to BP’s Moscow office being searched by bailiffs last month. BP said the “amount of alleged damages is unproven and baseless”.
WHAT THE OTHER PAPERS SAY THIS MORNING September 20, 2011 FINANCIAL TIMES TESCO BANK FACES MORTGAGE DELAY Tesco faces a fresh delay to the roll-out of Tesco Bank, with mortgages unlikely to be launched until early next year. Britain’s biggest retailer by sales had been expected to introduce mortgages this autumn but, having bought out Royal Bank of Scotland’s 50 per cent share in their [...]
Gulf Keystone mulls $200m equity raising September 19, 2011 KURDISTAN-focused oil firm Gulf Keystone Petroleum (GKP) yesterday said it was considering tapping the markets to raise capital, confirming it is “considering its options” in response to speculation over the weekend. Reports suggested the company would look to raise up to $200m (£127.5m), though Gulf Keystone did not confirm the figures yesterday. The closely-followed oil [...]
THREE OTHERS September 19, 2011 HIGH TIMBER, 8 HIGH TIMBER STREET, EC4V 3PA City A.M. favourite High Timber has several things to recommend it. One: its Thames-side views. Two: its wonderful South African wine collection, presided over by the exuberant Neleen Strauss. Three: its steak. These are juicy, chargrilled slabs, served with terrific sauces on wooden boards with sides of [...]