Chelsea’s new charmer is a real breath of fresh air June 29, 2011 AS A MASS of photographers scrambled to get the perfect shot of Chelsea’s new manager, Andre Villas-Boas made the only slip of an otherwise flawless first performance in front of the English press. With the flashbulbs popping around him, the Portuguese attempted to calm the masses by assuring them “we have time”. At just 33 [...]
Shares in Global Ports close up 18pc following London IPO June 29, 2011 SHARES in Russian port operator Global Ports soared yesterday on its debut on the London Stock Exchange, following its successful $534m (£333m) initial public offering (IPO). The banks handling Global Ports’ IPO also exercised an over allotment option to buy shares in the company, pushing up the proceeds from the sale to $588m. The container [...]
BEST OF THE BROKERS June 29, 2011 CARREFOUR Nomura sees the supermarket’s full-year growth target as overly ambitious, and initiates coverage with a neutral rating and a target price of €29 including its Dia arm. Though the broker believes Carrefour will miss its targets, the prospect of potential asset disposals and M&A are limiting the stock’s downside. MAIL.RU Morgan Stanley sees the [...]
Chelsea enter five-way fight for Neymar June 28, 2011 CHELSEA are among a quintet of European heavyweights to have entered the race for Brazilian sensation Neymar. The 19-year-old Santos forward’s £40m release clause is believed to have has been met by Chelsea’s Premier League rivals Manchester City, Spanish giants Real Madrid and ambitious oil rich Russian side Anzhi Makhachkala. Neymar inspired Santos to victory [...]
Discount IPO for PhosAgro June 28, 2011 RUSSIAN fertiliser producer PhosAgro has priced its joint London and Moscow share sale at a deep discount, as it looks to raise up to $500m (£312m). The phosphate fertiliser firm has set a price range of $13 to $16.50 per global depository receipt (GDR), valuing the company at as much as $6.1bn. The listing price [...]
PhosAgro sets London listing price range June 28, 2011 Russian fertiliser producer PhosAgro it had set an indicative price range of $13 to $16.50 per global depositary receipt (GDR) for a listing it hopes will value the company at as much as $6.1bn (£3.8bn). The price range is equivalent to $390 to $495 per share, the company said, giving it an equity valuation of [...]
HMV offloads 121 Canadian stores in £2m deal with Hilco June 27, 2011 HMV has agreed to sell its Canadian business for £2m to the retail restructuring specialist Hilco UK. The struggling retailer has 121 stores in Canada. As part of the deal, HMV has agreed to retain some of the debt owed to it by HMV Canada. HMV is in the process of restructuring, having sold the [...]
ALL BAR NONE: US CARD SHARP’S CHAMPAGNE SUPERNOVA TAKES GOLD June 27, 2011 THERE are nights out… and then there are nights out – and in case you need help making the distinction, there are worse people to ask than professional gambler Don Johnson, who blew £120,000 on the most expensive bottle of champagne ever sold in London at the OneForOne Club on Sunday. Don’t let the fact [...]
OECD predicts more shocks to economy June 27, 2011 SHOCKS to the world economy will become more frequent as the pace of globalisation quickens, the Organisation for Economic Co-operation and Development (OECD) warned yesterday. More interconnected economies mean that one-off events will cause price shocks to be felt throughout the world, the OECD said. The Paris-based group cited Russian fires and export bans last [...]
UK needs firm Russian links for Soviet revival June 26, 2011 As I prepare to lead a senior City business delegation to Moscow and St Petersburg, economic winds of change seem to be blowing across Russia. There is no doubt that Russia is an economic powerhouse, with the country’s sheer size and abundance of natural resources ensuring it is an important player on the global stage. [...]