Russian miner plans LSE float January 12, 2011 Russian coal and iron ore miner OAO Koks said yesterday it plans to float in London raising £400m to expand its operations. The Siberian based firm, which is controlled by Boris Zubitsky and his family, plans to offer shares and global depositary receipts in the business in Moscow and London. The firm said in 2009 [...]
Groupon closes $950m funding January 10, 2011 ONLINE advertising firm Groupon said yesterday it has completed its $950m (£610m) round of financing. Chicago-based Groupon, which turned down a $6bn takeover offer from Google in November, said in a regulatory filing the bulk of the funds would be used to buy back shares from investors and to expand outside of the US. The [...]
Real deals: The transfers that look like happening January 10, 2011 THE JANUARY transfer window is slowly clicking into gear. With time running out for managers to bolster their squads here are three deals likely to beat the deadline. STEVEN PIENAAR The South Africa international (right) is one of a quartet of Everton midfielders who would comfortably slot into a top four side. With Harry Redknapp’s [...]
$1bn Facebook backer eyes Twitter stake January 9, 2011 DIGITAL Sky Technologies, the Russian firm with a $1bn (£644bn) stake in Facebook, is considering buying shares in micro-blogging site Twitter. In its recent financing round, Twitter was valued at $3.7bn, despite advertising revenues said to be around $100m last year. If DST went ahead with the move, it would mean that that the company [...]
Food prices soar to new high January 5, 2011 FOOD prices have surged above the peak they reached during the 2008 crisis, the United Nations (UN) revealed yesterday. The 2008 food crisis provoked food riots, the toppling of at least one government, and plunged over a billion people into hunger. And the UN’s food price index averaged 214.7 last month, a record high that [...]
BP hires new head of PR after Gulf spill January 5, 2011 BP has hired one of chief executive Bob Dudley’s former colleagues to repair the company’s public image following the Gulf of Mexico disaster, sources close to the company confirmed yesterday. Peter Henshaw is set to join the firm as a senior executive in the next month, with responsibility for rebuilding the company’s reputation. He most [...]
FOOD & BOOZE NEWS January 5, 2011 NEW RESTAURANT FOR THE RA Not before time, the Royal Academy of Arts is going to be getting the dining room a venue of its stature deserves when restaurateur Oliver Peyton launches his latest there this month. It’ll be joining the dining rooms at the National Gallery, the Wallace Collection and Kew Gardens in Peyton’s [...]
Facebook value jumps to $50bn January 3, 2011 GOLDMAN Sachs has given social networking site Facebook an unprecedented vote of confidence by investing $450m (£291m) in the company at an astounding valuation of $50bn. The amount represents a fivefold increase from a valuation just two years ago of $10bn. In addition to Goldman’s investment, the Russian firm Digital Sky Technologies, which invested $200m for two [...]
Goldman Sachs returns to the top of 2010 M&A league January 3, 2011 GOLDMAN Sachs was the top global mergers and acquisitions advisor last year, retaking the position from rival Morgan Stanley, which derailed its multiyear grip on the ranking in 2009. Investment banks Goldman Sachs and Morgan Stanley were neck-and-neck in the M&A stakes throughout the year, according to Thomson Reuters data, ahead of rivals JP Morgan, [...]
Market for private tech firms soars January 3, 2011 A GROWING and largely unregulated market in privately owned shares has sprung up as technology firms continue to rise in value exponentially. Investors are clamouring to own a stake in the next major internet firm before they are publically traded, driving the biggest surge in demand for privately-owned tech companies since the dotcom boom. Facebook [...]