Nice ice baby August 12, 2009 ICE cream never used to be a gourmet dinner’s crowning glory. Yet London has become a capital for the stuff – from street vendors to high gastronomy. Take Michel Roux at Michelin-starred Le Gavroche, who makes all his ice cream fresh daily – this week that includes fresh mint and peanut butter. Or Justin Saunders [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 6, 2009 FINANCIAL TIMES RISING RISK PROVISIONS HIT COMMERZBANKCommerzbank yesterday raised its risk provisions as Germany’s second largest bank was hit in the second quarter by problems in property markets and the economic crisis in central and eastern Europe. However, it reduced operating losses , and suggested overall risk provisions this year would be in line with [...]
How the Russian oligarchs came to rise and reign in boomtime London August 5, 2009 LONDONGRADBY MARK HOLLINGSWORTH AND STEWART LANSLEYFourth Estate, £12.99ONE of the most visible signs of the times over the past few years has been the increasing Russification of London. The likes of Roman Abramovich, the owner of Chelsea Football Club, Oleg Deripaska, who made headlines when he entertained the then-EU trade minister Peter Mandelson and shadow [...]
Rexam slashes Russian output August 3, 2009 Rexam, the world’s biggest drinks can maker, said yesterday that it will cease its operations at its Russian Dmitrov plant, after the global economic downturn saw demand in the region plummet. The closure will reduce output by 1.3bn cans per year.
WHAT THE OTHER PAPERS SAY THIS MORNING July 30, 2009 FINANCIAL TIMES VW BRACED FOR “ZERO GROWTH” IN CAR MARKETVolkswagen warned yesterday that it could face flat sales in 2010 as Europe’s largest carmaker reported a sharp profit drop in the second quarter. The third-biggest carmaker behind General Motors and Toyota said it expected “zero growth” in the car market next year. PRIVATE EQUITY SUFFERED [...]
Profits at BP slump by half in downturn July 28, 2009 OIL giant BP yesterday said that second quarter profits had slumped by more than half as it continued to suffer from falling energy demand and a weak oil price. According to the replacement cost profit measure – which strips out gains or losses related to any changes in the value of its fuel stocks – [...]
CITY MOVES WHO’S SWITCHING JOBS July 26, 2009 ExecutionThe agency broker has appointed Bruce Howitt, formerly a director of Merrill Lynch’s fixed income business, to head up its newly created agency credit division. Howitt, who will become head of European credit at Execution, previously spent six years with Merrill Lynch, where he managed the non-financials trading desk. He has also formerly held senior [...]
Haye: Watch this David tame the Russian Goliath July 23, 2009 LONDONER David Haye says he can topple Goliath and achieve his world championship dream. Haye, 28, will take on Russian giant Nikolai Valuev for the WBA heavyweight crown on 7 November. Standing at a massive 7ft tall and weighing in at 23 stone, Valuev is nine inches taller and eight stone heavier than Haye. But [...]
CITY MOVES WHO’S SWITCHING JOBS July 21, 2009 Julius BaerMarion Williams has joined the Swiss wealth management firm to promote its product range to UK clients and focus on third party relationships, including fund platforms and distributors. Williams joins the team from Threadneedle, where she worked with life companies, platforms, fund of funds, stockbrokers, IFAs and private banks. Prior to that, she was [...]
GM examines final Opel bids July 20, 2009 GENERAL Motors, the ailing US carmaker, is mulling over three takeover offers for its European business and is in talks with the UK and German governments to nail down the final terms of a deal. The bids include one by a consortium of Canadian car parts firm Magna and Russian-controlled Sberbank, one by Belgian private [...]