Indie to hand out 3m free newspapers April 19, 2010 THE Independent will hand out 3m free issues of its revamped newspaper in marginal constituencies in the run-up to the general election. The paper today unveiled a major facelift after being bought by ex KGB-man Alexander Lebedev last month. The limited edition election editions will promote the newspaper’s independent stance by refusing to back any [...]
Avangard to raise £163m April 19, 2010 AVANGARD, Ukraine’s biggest producer of eggs, yesterday confirmed it plans to raise as much as £163m in a London share issue, valuing the company at $890m. The company wants to use the proceeds of the offering to finance the expansion of its egg business through capital expenditures. This includes the completion of construction of two [...]
Sberbank sees profits soar as bad loans drop April 15, 2010 SBERBANK, Russia’s biggest lender, said yesterday that quarterly net profit jumped to 43.2bn roubles (£1bn), from 0.3bn roubles a year ago. The significant improvement was a result of a sharp reduction in provision charges for bad loans, the company added. State-controlled Sberbank, which holds roughly a quarter of Russia’s total banking assets, hopes to earn [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 14, 2010 FINANCIAL TIMES BP TO PRESS ON WITH CANADA OIL SANDS PLAN BP will press ahead with its plan to invest in Canada’s controversial oil sands, the company will signal at Thursday’s annual general meeting, in spite of protests from environmentalists and concerns among some shareholders. More than 140 investors have backed a resolution calling for [...]
Usmanov ups his stake in Arsenal April 14, 2010 ALISHER Usmanov, Arsenal’s second largest shareholder, has spent almost £390,000 on upping his stake amid fresh speculation about the club’s future. The Russian steel magnate bought 37 shares at £10,500 each to increase his shareholding from 26.29 per cent to 26.31 per cent. It moves him closer to the 30 per cent threshold that would [...]
Rusal float to net Deripaska $70m bonus April 14, 2010 RUSAL, the aluminium group which earlier this year became the first Russian company to list in Hong Kong, has awarded chief executive Oleg Deripaska a weighty $70.3m (£45.4m) bonus for getting the float away successfully. The company said yesterday that oligarch Deripaska has been awarded 50.625m bonus shares at the offer price of HK$10.80 per [...]
INM benefits from Indie sale April 13, 2010 Independent News & Media, the Irish based company which sold its flagship Independent newspaper to Russian ex-KGB man Alexander Lebedev earlier this month, has seen a renewed interest in its shares since it parted with the loss making paper. Based on a positive report by Deutsche Bank its share price has risen from its historic [...]
Arsenal ownership takes fresh twist as Kroenke takes control of NFL side April 13, 2010 MYSTERY surrounding the future of Arsenal has deepened after the club’s largest investor Stan Kroenke decided to snap up the remaining shares in his American football franchise St Louis Rams. The US billionaire’s move casts doubt on his ability to launch a takeover of the Gunners, just hours after it seemed the Premier League outfit’s [...]
Aristocrat of Arsenal plays hard to get April 12, 2010 LADY Nina Bracewell-Smith will resist selling her stake in Arsenal despite growing pressure from the club’s two biggest shareholders. Speculation reached fever pitch yesterday after it emerged Bracewell-Smith has hired US buyout group Blackstone to advise her over her 15.9 per cent holding in the Gunners. The news coincided with the deadline for Arsenal’s leading [...]
Rusal upbeat about aluminium demand April 12, 2010 RUSAL, the world’s biggest aluminium producer, said yesterday it expects the aluminium market to improve this year with the global recovery, prompting it to boost production and restart a mothballed plant. The Russian firm, which raised $2.2bn (£1.4bn) when it became the first non-Asian company to list in Hong Kong earlier this year, posted a [...]