GM to discuss plant’s future September 21, 2009 GM Europe is forming a group to discuss the future of Opel's plant in Antwerp, Belgium and will give details on its restructuring plan after talks are concluded, it said yesterday. Magna and Russian partner Sberbank struck a deal to buy a majority stake of Opel from GM two weeks ago. They plan to cut [...]
Putin in gas extraction summit September 20, 2009 Russian Prime Minister Vladimir Putin said he will this week hold a meeting on how to tap giant gas reserves on the Arctic Yamal peninsula, and global majors hope to hear about tax breaks and the easing of regulations. Industry sources said invitations had gone to the heads of Total, Royal Dutch Shell, Exxon Mobil, [...]
Blues chief exec Kenyon to leave role next month September 16, 2009 CHELSEA chief executive Peter Kenyon will leave his full-time role at the end of October, after six years at the forefront of the most successful spell in the club’s history. The Blues said yesterday that Kenyon, 55, would retain a role as non-executive director and continue to represent the Premier League leaders on European committees. [...]
Bank of New York Mellon settles $22.5bn Russia case September 16, 2009 RUSSIA expects to get costs of at least $14m (£8.5m) in an out-of-court settlement of a $22.5bn lawsuit against Bank of New York Mellon, finance minister Alexei Kudrin said yesterday. The deal should bring to an end Russia’s more than two-year quest for compensation from the bank over alleged laundering of $7bn from Russia in [...]
BoNY nears Russian deal September 14, 2009 THE RUSSIAN government is set to bring its $22.5bn (£13.6bn) lawsuit against Bank of New York Mellon (BoNY) to an end after the bank agreed to provide credit to Moscow-based banks, sources told City A.M last night. An out-of-court settlement is being discussed that will see the USbanking giant restart trade-finance lending to banks nominated [...]
Brown seeks to safeguard Vauxhall jobs September 13, 2009 PRIME Minister Gordon Brown is set to lead talks at Ellesmere Port car plant this week, as part of a government push to safeguard thousands of jobs at Vauxhall’s UK plants. The move comes after US parent General Motors (GM) sold off a 55 per cent stake in its European arm to Canadian car parts [...]
Fergie and Wenger join forces in poach row September 10, 2009 MANCHESTER UNITED boss Sir Alex Ferguson has joined forces with old foe Arsene Wenger in speaking out against the “poaching” scandal, which has plagued the reputation of English football. International governing bodies, Uefa and FIFA, want to outlaw the overseas transfers of players under the age of 18, following claims from abroad that Premier League [...]
GENERAL MOTORS SELLS VAUXHALL September 10, 2009 CAR giant General Motors (GM) yesterday revealed it is selling a 55 per cent stake in Vauxhall and Opel to Canadian car parts maker Magna International. The announcement ends a long bidding war for its European arm between Magna, which is backed by Russian bank Sberbank, and Belgian group RHJ International and Beijing Automotive. The [...]
Jaegar boss Tillman lands Aquascutum September 8, 2009 LUXURY trench coat brand Aquascutum yesterday returned to British ownership after fashion entrepreneur Harold Tillman and Jaegar chief executive Belinda Earl announced a deal to buy the firm. Tillman, famed for his turnaround of upmarket high street store Jaegar, has said he plans to expand Aquascutum in overseas markets. Tillman said: “There are markets where [...]
Federer in top form as Robredo is next victim September 7, 2009 WORLD No1 Roger Federer continued his devastating form as he cruised into the last eight of the US Open last night with a comfortable victory over Tommy Robredo at Flushing Meadows. The five-time defending champion never looked in danger as he cruised to a 7-5, 6-2, 6-2 win in the Arthur Ashe Stadium to book [...]