Ancelotti: I’m not ready to leave Chelsea or England May 8, 2011 ITALIAN’S FUTURE IN THE SPOTLIGHT AS TITLE BID IS KILLED OFF AT OLD TRAFFORD CRESTFALLEN Chelsea manager Carlo Ancelotti admits he is at the mercy of owner Roman Abramovich after his attempts at retaining the Premier League title were doomed to failure by yesterday’s decisive defeat at champions-elect Manchester United. The Italian, who achieved the [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 4, 2011 FINANCIAL TIMES BREWER’S FINANCE CHIEF TO RETIRE SABMiller is ushering in a new era after Malcolm Wyman, who has served as chief financial officer for the past decade, announced plans to retire at the annual meeting in July. My Wyman, 64, will be replaced by James Wilson, finance director for European operations. Mr Wilson, 51, [...]
CANDY BROTHERS TUNE IN TO FOLLOW THEIR REAL-LIFE GOSSIP GIRL May 4, 2011 PROPERTY developer Nick Candy famously revealed his guilty pleasures as “fine wine, good Italian pasta, massages and Starbucks coffee”. But from next Monday, no doubt the One Hyde Park developer will be adding new reality show Made in Chelsea – the West London answer to hit show The Only Way is Essex – to his [...]
High prices have stirred trader’s geopolitical risks May 4, 2011 GLENCORE has warned investors that it faces significant geopolitical risks that could materially impact its business, with “increased resource nationalism” due to high commodity prices flagged as a possible flashpoint. The company has endured repeated attacks on its corporate governance standards in the run-up to its float, with allegations that one of its subsidiaries has [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 3, 2011 FINANCIAL TIMES BUSINESSES FEAR £90BN HIT IN COSTS BOOMERANG The UK’s main quoted companies fear that £90bn of annual costs will return to their books as they recover, washing away savings made during the recession and squeezing profit margins, according to a survey by a leading accountancy firm. Businesses believe that 95 per cent of [...]
Russian billionaire readies an offer for Warner Music May 2, 2011 RUSSIAN billionaire Len Blavatnik is said to be on the verge of making a binding offer for Warner music, the record label behind Madonna and Oasis, in a deal valued at more than $3bn (£1.8bn). He will lead a consortium of bidders including the Gores brothers, the US billionaire financiers, to buy the company in [...]
BP asset sale hits profits as output slides April 27, 2011 OIL giant BP revealed a two per cent dip in profits in the first-quarter of this year, as its fire sale to cover the cost of the Gulf of Mexico oil spill ate into production levels. The energy firm made replacement cost profits of $5.5bn (£3.3bn) in the three months to 31 March, from $5.6bn [...]
Mail.ru shareholders to sell stock April 27, 2011 Russian internet investment company Mail.ru said shareholders have launched a sale of a 6.65 per cent stake, five months after its London listing. Mail.ru’s shares were down almost nine per cent yesterday, diving below the sale price which was set at $32.50 (£20). Shares in the Facebook investor were sold in the London listing in [...]
BP’s Russian partner offers hope of a deal April 26, 2011 OIL giant BP yesterday responded positively to suggestions that it might be able to negotiate its way out of an impasse in Russia with its partners TNK. According to an interview with the BBC, one of the AAR oligarchs involved in the TNK joint venture with BP said yesterday that a sale of TNK’s 50 [...]
Russian heli firm’s London IPO takes off April 26, 2011 KREMLIN-backed firm Russian Helicopters has set the price range for its $500m (£304m) joint Moscow and London share offering. The helicopter manufacturer, dominant amongst Russian counterparts, priced its shares and global depository receipts (GDRs) at between $19 and $25 per unit. The deal values the company at between $1.8bn and $2.4bn. Russian Helicopters will sell [...]