Chinese BAIC joins bid for GM Europe July 7, 2009 CHINA’S Beijing Automotive Industry Corporation (BAIC) yesterday offered to invest €660m (£570m) in GM Europe in return for a 51 per cent stake. The state-owned Chinese group’s offer is likely to involve plans to expand operations inside China, the world’s largest car market. The deal would need €2.64bn of state-guaranteed loans. BAIC would also look [...]
Zhirkov seals 18m switch to Chelsea July 7, 2009 CHELSEA’S newest recruit Yuri Zhirkov has admitted that accepting a switch to Stamford Bridge was an easy decision. The versatile Russia international, 25, who can play anywhere down the left flank, signed a three-year contract yesterday after sealing his £18m move from CSKA Moscow. Zhirkov said he could not have rejected the dream transfer, having [...]
PEPSICO LOOKS FOR RUSSIAN FIZZ July 6, 2009 PepsiCo pledged yesterday to invest $1bn (£616m) in Russia over three years. It said it was confident in the Russian market, which is still growing despite the financial crisis. Russia is critical for PepsiCo, which is looking to boost profits as recession and changing consumer habits limit sales growth in the US.
Goldman man in theft case July 6, 2009 A FORMER Goldman Sachs computer programmer is facing trial over claims that he stole secret trading codes from the firm and published them on a German website. Sergey Aleynikov, 39, was arrested last week and yesterday saw his bail set at $750,000 (£461,000) over charges of “theft of trade secrets”. Authorities have not yet confirmed [...]
The property boss who can see the light at the end of the tunnel July 5, 2009 The airy offices of Knight Frank chairman Nick Thomlinson are as good a place as any to survey the wreckage of the property market over the last two years. So it can only be good news that the head of the UK’s largest privately-owned property business shows no sign of panic as he holds court [...]
Ancelotti to seek assurances from Terry amid City interest July 5, 2009 JOHN TERRY will be forced to prove his commitment to the Chelsea cause in a series of crisis talks with manager Carlo Ancelotti. The England captain has been the subject of sustained interest from big-spending Manchester City, who had bids of £25m and £30m rejected by the west London club last week. But with an [...]
Renault executive exits Avtovaz July 2, 2009 Russian carmaker Avtovaz, which makes Lada cars and is 25 per cent owned by Renault, replaced the most senior French executive on its management board with a Russian as part of a crisis plan that could see other managers appointed by the French carmaker leave. Renault confirmed that Igor Komarov, Avtovaz’s executive vice-president in charge [...]
Serena and Venus set up fourth final July 2, 2009 DEFENDING champion Venus Williams will face her sister Serena in tomorrow’s Wimbledon singles’ final after the siblings clinched their places in vastly different fashion. Venus, vying for her third successive title and her fifth in total at SW19, obliterated top seed Dinara Safina 6-1, 6-0. Earlier, Serena had to save a match point against another [...]
Aggression the key to our domination, says Venus July 1, 2009 DEFENDING champion Venus Williams believes her and sister Serena’s monopolisation of Wimbledon is down to one trait: aggression. Between them they have won the title in seven of the last nine years and are firmly on course to improve that record this weekend. Defeat for either of the Californians in today’s semi-finals would constitute one [...]
RHJ steps up its Opel offer June 29, 2009 GENERAL Motors is rekindling talks with bidders for its European Opel unit and is thought to be close to signing a memorandum of understanding with RHJ, suggesting talks with lead bidder Magna have stalled. Canadian group Magna is understood to remain the preferred bidder – after signing a memorandum to buy 55 per cent of [...]