London jitters thwart Moscow airport float May 31, 2011 MOSCOW’S busiest airport has become the latest group to fall victim to shaky investor confidence in London’s initial public offering (IPO) market. DME Limited, the offshore company that owns Domodedovo airport, announced the withdrawal of its planned $700m-$1bn (£424 – £607m) float in London late on Sunday night, having published its intention to float document [...]
ALL CHANGE AT LLOYD’S AS IT RINGS 25 YEARS May 26, 2011 IT MAY seem like only yesterday for many City veterans, but today marks 25 years since the first managing agents moved into the landmark Lloyd’s building on Lime Street. So happy anniversary to the insurance giant, which still shows traces of more than 300 years of Lloyd’s history, such as the famous Lutine Bell, which [...]
The Wolfpack goes mad in Bangkok May 26, 2011 Film THE HANGOVER II Cert: 15 BRUISED, bloodied, blacked-out and stood high above a sweltering Bangkok, it’s the morning after the night before. Again. Following their 2009 antics in Vegas, the dysfunctional “Wolfpack” – Bradley Cooper, Ed Helms and Zach Galifianakis – is back. Three manboys, their sensible mate, and one wedding in Thailand. What [...]
Shell moves in on BP’s failed Rosneft deal May 25, 2011 ROYAL Dutch Shell is moving in on Russia’s Arctic energy reserves in the wake of BP’s failure to resolve its legal issues surrounding a tie-up with Rosneft, Moscow’s national oil giant. Shell chief executive Peter Voser met with Russian deputy prime minister and energy chief Igor Sechin as well as Rosneft chief Eduard Khudainatov yesterday. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 24, 2011 FINANCIAL TIMES POLL SHOWS MAJORITY OF INVESTORS USE VOTES Almost eight in 10 UK institutional investors exercise their voting rights in all the companies in which they own shares, according to a survey by the Investment Management Association. The finding, in a report setting out the extent of shareholder involvement in the early days of [...]
Yandex surges on first day May 24, 2011 Shares of Russian internet company Yandex surged more than 40 per cent in their debut yesterday, in the largest US initial public offering in the internet sector since Google. Yandex raised $1.3bn (£803m) in its IPO on Monday by selling 52.2m shares for $25 each. The offering valued the overall company at about $8bn. Morgan [...]
Manufacturing dip affects US shares May 24, 2011 US stocks dipped in light volume yesterday as lingering concerns about a slowdown in growth more than offset gains in energy shares. Investors kept trimming large-cap technology positions, pushing the tech-heavy Nasdaq Composite lower. The S&P energy sector index rose 1.3 per cent, while its industrials index slipped 0.6 per cent, sending the market down [...]
Russia thinks BP deal is dead May 23, 2011 Russia’s energy minister does not expect BP and Rosneft to revive their historic exploration deal. Sergei Shmatko told reporters yesterday: “I don’t believe there’s any chance of reincarnation of the deal in its current form,” adding that the two oil companies were continuing talks over a new agreement to search for oil in the Arctic. [...]
Euro bonds slide as firms pick sterling May 23, 2011 EUROPEAN bond issuers are turning away from euro denominated securities in favour of sterling, dollar and ruble products. Overall bond issuance by European corporates has increased so far this year by 17 per cent to $182.5bn (£113bn), according to data provider Dealogic. But issuance of euro-denominated bonds so far this year has slumped by 13 [...]
Yandex float priced at top end of range May 23, 2011 RUSSIAN internet search firm Yandex yesterday appeared to be cashing in on a surge in demand for technology companies in the United States, despite fears of a new dot.com bubble. The firm, dubbed as the “Russian Google”, now plans to sell shares above its initial price range, at between $24 and $25 per unit. It [...]