KROENKE CLOSES IN April 11, 2011 IT’S ALMOST four years to the day that American businessman Stan Kroenke first took a financial interest in Arsenal, but only now are the club’s supporters fully aware of his intentions with confirmation of a takeover bid set to be announced today. Kroenke, 63, first became involved with the north London club back in 2007 [...]
Hayward role at TNK-BP in doubt April 10, 2011 Embattled former BP boss Tony Hayward’s place on the board of the firm’s Russian joint venture TNK-BP is in doubt , with the board understood to be considering his position. If he is ousted from the role it would cut his last tie to the company he headed up for three years. He was criticised [...]
Tough week ahead for BP April 10, 2011 BP chief executive Bob Dudley is facing a particularly gruelling week, with a deadline for the firm’s £10bn share swap with Rosneft due on Thursday, the same day as the oil giant’s first annual shareholder meeting since last April’s Gulf of Mexico spill. BP management are expected to come under fire at the firm’s AGM, [...]
BP-Rosneft deal blocked again April 8, 2011 A $16bn (£10bn) share exchange between BP and state-owned Russian counterpart Rosneft has been blocked again. An arbitration panel upheld an injunction on the deal, but gave BP more time to hammer out a solution. Russian shareholders of TNK-BP – an earlier joint venture of the UK firm – have argued that the Rosneft tie-up [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 7, 2011 FINANCIAL TIMES MADOFF SEEKS TO SPREAD BLAME FOR FRAUD Bernard Madoff sought to spread blame for his $65bn Ponzi scheme to banks, regulators and some of his oldest business associates in a rambling jailhouse interview with the FT. The disgraced financier offered little evidence for his claims and admitted he had lied to investors and [...]
Portugal crisis shows threat to UK: Osborne April 7, 2011 CHANCELLOR George Osborne clashed with opposition leader Ed Miliband yesterday over the cuts to the UK’s annual government deficit. “If you hear the stories about the cuts and still wonder why our country needs to take these difficult decisions, then look at what is happening around us – first Greece, then Ireland, today Portugal,” Osborne [...]
Perform lists despite eleventh hour delay April 7, 2011 DRASTIC reforms to gambling laws in Germany caused online sports media firm Perform to delay the pricing of its London listing yesterday, though the firm is still due to begin trading today. The group last night priced its initial public offering (IPO) at 260p per share, after stalling to consult investors over the German ruling. [...]
PROPERTY NEWS April 7, 2011 NEW DEVELOPMENT BOASTS ARTY STAIRCASE Artesian, the property development company, are launching a new development called Crabtree place just off Charlotte Street, close to Goodge Street. The development includes seven townhouses and a penthouse apartment. Once a disused power station on Whitfield Street, the development has a number of prominent architectural features. The new townhouses, [...]
Nomos leads the Russian IPO charge April 5, 2011 THE charge of Russian companies looking to London to go public picked up yesterday, as mid-size bank Nomos confirmed plans to float 20 per cent of its stock and several more issuers eyed talks with investors. The easing of market volatility, which spiked last month on fears of a nuclear crisis in Japan and unrest [...]
France leads calls for action on commodities April 5, 2011 Russia and France, the current holder of the presidency of the Group of 20 nations, have called for coordinated international action to curb volatility on global commodities markets. “Sharp fluctuations in raw materials prices destabilise markets and require coordinated measures to be taken at an international level,” the Russian Finance Ministry said after its head, [...]