BP’s Russia deal comes under fire January 16, 2011 BP’S HISTORIC tie-in with Russia’s state oil company came under intense scrutiny yesterday, as politicians and businessmen piled in to examine the merits and dangers of the deal. The share swap, announced late on Friday, sees BP hand a five per cent stake to Rosneft in exchange for a 9.5 per cent holding in the [...]
BP deal with Russia sparks controversy January 16, 2011 CONCERNS grew yesterday about the political implications of BP’s $16bn (£10bn) share swap with Russia’s state-owned oil firm Rosneft. Shadow justice minister Chris Bryant said in an interview that BP needs “a strong anti-corruption” strategy to work with the company. Labour leader Ed Miliband said he was “pretty worried” about the environmental aspect of the [...]
BP in deal talks with Russia’s Rosneft January 14, 2011 ENERGY giant BP is in talks with Russian state-owned oil company Rosneft over a possible deal, it has announced. BP, which owns 1.4 per cent of Rosneft, has called an emergency press conference at its London headquarters at 9pm tonight to announce full details of the deal. Reports have suggested the deal would be in [...]
What the other papers say this morning January 13, 2011 FINANCIAL TIMES BIG THREE JAPANESE CARMAKERS IN GREEN PUSH Japan’s three largest carmakers have joined forces to promote the adoption of hydrogen fuel cell vehicles, with a plan to build 100 filling stations in Japan for the next-generation “green” cars by 2015. Toyota, Honda and Nissan will be joined by 10 Japanese natural-gas refiners and [...]
Russians rush to list in London January 13, 2011 RUSSIAN steel pipe maker ChelPipe has become the third company from the former Soviet Union to announce a listing on the London Stock Exchange this week. The company, which is to launch an initial public offering (IPO) of up to $1bn (£635.2m), follows pump manufacturer HMS Hydraulic and coking coal producer KOKS earlier this week. [...]
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 [...]