IMI promoted to FTSE 100 as Cobham falls December 8, 2010 ENGINEERING group IMI has been promoted to the blue-chip FTSE 100 index after the latest review, indexes complier FTSE Group said yesterday. IMI will replace defence contractor Cobham which has been demoted to the FTSE 250 index. Companies outside the FTSE 100 that grow to rank among the 90 largest by market capitalisation are promoted [...]
Get out your pith helmet and start building railways, roads and ports December 7, 2010 AT THE end of the 19th century, British investors were funding railways throughout India and across South America, telephone cables underneath the Atlantic and gold mines in the South African Transvaal. In the first great age of globalisation, the most important thing was to build infrastructure, only after which could trade follow. That is as [...]
Sarkozy signs $20bn in deals on Indian trade trip December 6, 2010 FRANCE’S President Nicolas Sarkozy yesterday said he had clinched deals worth about $20bn (£12.6bn) with India, becoming the latest among a string of world leaders jostling for a share of Asia’s third biggest economy. The business deals, which spanned atomic energy, defence and civil aviation, comfortably bettered the $10bn US President Barack Obama secured on [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 5, 2010 FINANCIAL TIMES IRISH BANKS FACE LOANS SELL OFF Ireland will have to accelerate the shrinking of its troubled banks’ balance sheets in return for gaining continued access to emergency European funding. According to people briefed on the details of Ireland’s €85bn (£72bn) bail-out by the European Union and the International Monetary Fund, the banks will [...]
Getting to grips with the BRICs: Foreign Office insights for the City December 5, 2010 FOUR former British Ambassadors to Brazil, Russia, India and China gathered recently at the Royal Automobile Club in SW1 to discuss these fast-growing economies, collectively nicknamed the BRICs. The objective was to help an audience of business people better understand how these countries see themselves in the context of their emerging status as world powers; [...]
TUX-CLAD SOLICITORS FLOCK TO FISH MARKET December 2, 2010 HUNDREDS of lawyers gave their well-worn tuxedos another outing last night as they gathered for the British Legal Awards hosted by Legal Week, with the barristers characteristically out-dressing the solicitors. Catching City of London law society chair Bill Knight sharing a drink with Norton Rose’s Sir David Lewis before the evening kicked off, The Capitalist [...]
PepsiCo eyes Russia for growth December 2, 2010 PEPSICO said yesterday it will buy a majority stake in Russian juice and dairy company Wimm-Bill-Dann (WBD) for an initial deal price of $3.8bn (£2.43bn) in its most ambitious overseas purchase to date. The deal will make PepsiCo Russia’s largest food and drink maker. PepsiCo plans to buy 66 per cent of the firm. However, [...]
Baubles to warm the cockles this Christmas December 2, 2010 IF there’s is one time that you can have a bit of fun in the house, it’s Christmas. Even the cold heart of the most ardent minimalist melts at this time of year, and starts yearning for things that glitter and flash. But it doesn’t have to all be about twinkly lights on a tangled [...]
Star trio turn England 2018 bid around as D-Day arrives December 1, 2010 ENGLAND’S hopes of winning today’s vote to host the 2018 World Cup surged last night after frantic schmoozing and some late hiccups from rival bidders appeared to turn the tide in their favour. A stellar cast of ambassadors including former England captain David Beckham, Prince William and Prime Minister David Cameron led an impressive charm [...]
E.ON sells Gazprom stake December 1, 2010 GERMAN energy giant E.ON has sold its 3.5 per cent stake in Russian gas firm Gazprom to market investors and Russia’s state-owned investment bank. Vnesheconombank (VEB) will take a 2.7 per cent stake, while 0.8 per cent has been placed in the market. E.ON said the total proceeds from the sale stood at €3.4bn, resulting [...]