England’s 2018 bid team retracts complaint over Russian criticism of ‘boozy, crime-ridden’ London October 28, 2010 ENGLAND have decided to turn the other cheek in the war of words with rival World Cup 2018 bidders Russia amid fears an escalating row could damage their chances. Relations reached a new low this week when one of Russia’s top football figures, Viacheslav Koloskov, dismissed England as “absolutely primitive”. That barb was in response [...]
Russians slam English again October 27, 2010 FOOTBALL: Russia have been accused again of denigrating England’s bid to host the 2018 World Cup after one of their top officials labelled their main rivals “absolutely primitive”. Viacheslav Koloskov, honorary president of the Russian Football Union, lashed out after England complained about criticisms of London made by Alexei Sorokin, chief of the Russian bid. [...]
Mail.ru eyes $878m IPO October 27, 2010 FACEBOOK investor, Mail.Ru Group’s initial public offering (IPO) is up to two times oversubscribed with nearly two weeks left before pricing, financial market sources said yesterday. Fund managers said the organisers put total bids as of Tuesday night at $1.1bn. Mail.ru was looking to raise up to $876m in the sale of 16 per cent [...]
PIMCO’S GROSS ISSUES WARNING OVER A BRAZEN PONZI SCHEME: QE October 27, 2010 PIMCO’S resident bond expert Bill Gross yesterday, in his usual verbose fashion, issued a stark warning over the upcoming second round of quantitative easing (QE) in the US – dubbing it no less than a “Ponzi scheme” on the part of the Federal Reserve. “Check [sic] writing in the trillions is not a bondholder’s friend; [...]
TNK-BP profit down as Rosneft prospers October 26, 2010 Russian oil company TNK-BP, a joint venture that makes up more than a quarter of BP’s reserves, said yesterday its third-quarter net profit fell as transportation and other costs rose. The company generated net profit of $1.45bn (£913m) on revenues of $11.4bn. A year earlier TNK-BP earned $1.68bn on revenues of $10.26bn. Meanwhile, its largest [...]
We can still lure world’s best to Man Utd, says Gill October 25, 2010 Man City’s wage bill may have overtaken United’s but chief executive insists they’ll go on competing MANCHESTER UNITED chief executive David Gill is adamant they can still attract and keep the world’s top players despite refusing to spend as much on wages as Premier League rivals Chelsea and Manchester City. United’s wage policy was thrust [...]
Russian web venture weighs up $876m float October 25, 2010 MAIL.RU, a Facebook investor and web business, is looking to raise up to $876m (£558m) by offering a 16 per cent stake in a planned London initial public offering (IPO) which could pave the way for other Russian internet firms to float. However, most of the money will go to the current shareholders rather than [...]
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 [...]