BP’s Bob Dudley outlines post-spill risk strategy October 24, 2010 THE NEW chief executive of oil giant BP will today use his first official speech in the UK to lay out his commitment to radically shake up the company’s safety and risk operations in the wake of the Gulf of Mexico spill. Bob Dudley, who officially took over from much-vilified former chief executive Tony Hayward [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 21, 2010 FINANCIAL TIMES AIRBUS CHIEF CALLS SUBSIDY ROW AN ABSURDITY The head of Airbus has lashed out at the “absurdity” of the prolonged aircraft subsidy row between his company and Boeing, its US rival, saying both sides had taken state aid and the only winners were likely to be rivals in China and Russia. In a [...]
Danone sours views despite sales jump October 21, 2010 FRENCH food group Danone warned yesterday the economic landscape would continue to hit sales in Europe, as it posted a 15 per cent growth in third-quarter revenue to €4.35bn (£3.86bn) after strong dairy sales in emerging markets. The world’s biggest yoghurt maker maintained its full-year targets after offsetting a 2.1 per cent like-for-like sales growth [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 19, 2010 FINANCIAL TIMES INDIAN OIL PLANS RECORD $4.3BN IPO Indian Oil plans to raise a record Rs190bn ($4.3bn, £2.73bn) by selling 20 per cent of its shares in what would be India’s biggest IPO, as several state-run groups are rushing to tap the nation’s booming equity market. Sumit Bose, India’s minister of disinvestment, said yesterday that [...]
Zhirkov relishes return as Blues cruise October 19, 2010 SPARTAK MOSCOW (0) VS CHELSEA (2) CHELSEA manager Carlo Ancelotti hailed Yury Zhirkov after the Russian midfielder chose the perfect setting to reignite his Blues career. Zhirkov’s extraordinary 30-yard volley set the west Londoners on their way to an ultimately comfortable win that virtually guarantees their progress to the last 16. Striker Nicolas Anelka slotted [...]
Petroneft raises $43m for Russian drilling October 19, 2010 Petroneft Resources, the Russia-focused oil and gas explorer, raised $43m (£27m) to finance the development of two of its Russian fields. The Aim-listed firm sold 63,125,000 new ordinary shares at 43p each to raise the cash. The firm said it will use the money to accelerate exploration and business development at its licences 61 and [...]
Unloved, unowned but undervalued: Emerging Europe shakes off its past October 19, 2010 SANDWICHED between the bright stars of emerging Asia and the fading light of the West lies Eastern Europe, an investment destination that is often forgotten and perennially unfashionable. This is partly because the region has struggled to shake off its Soviet legacy – at least in the minds of Western investors it is still tainted [...]
Ancelotti unfazed by Terry mindset in Moscow October 18, 2010 SPARTAK MOSCOW vs CHELSEA Sky Sports 2, kick-off 5:30pm IF recent history is anything to go by, Chelsea manager Carlo Ancelotti has good reason to fear his side’s visit to the Luzhniki Stadium this evening. Last time the Blues played there John Terry ended the night in tears after the captain’s penalty shoot-out miss denied [...]
BP links bonus pay to safety October 18, 2010 FOURTH?quarter bonuses for staff at embattled oil major BP will be based entirely on safety, chief executive Bob Dudley has said. Dudley has sent an email to all staff members saying their performance in terms of safety and risk management would be the only factor used to work out bonuses. “We are taking this step [...]
CITY MOVES | WHO’S SWITCHING JOBS October 17, 2010 ICAP The inter-dealer broker has appointed Iain Torrens as group finance director, after incumbent Matthew Lester, pictured, said he would leave to take up a role as the next chief financial officer of Royal Mail. Torrens joined ICAP in 2006 and has been group financial controller since July 2008. Lester, who also formerly held senior [...]