Spain to offer banks bailout, Russia might June 25, 2009 THE SPANISH government is to establish a €90bn (£77bn) fund for its financial institutions, while Russia is pondering a similar rescue package for its own banks. Spain’s cabinet meets today and is likely to approve a proposal which will see lenders, including those who are not deemed to have capital shortfalls, given access to a [...]
Sharapova stunned by early exit as Federer sails through June 24, 2009 FORMER champion Maria Sharapova blamed injury after being dumped out of Wimbledon at the second round by unseeded Argentine Gisela Dulko yesterday. Sharapova, seeded 24, looked far short of the form that carried her to the title in 2004 as she slumped to a 6-2, 3-6, 6-4 defeat on Centre Court. The three-time grand slam [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 24, 2009 FINANCIAL TIMES CHIP MAKER MOVES TO QUASH BID SPECULATIONImagination Technologies has reiterated that it expects to remain independent, despite market speculation to the contrary and heavy share buying in the chip designer. Intense buying on the London Stock Exchange saw more than 12m shares change hands and 9.7m sold at 150p a share, amid speculation [...]
Brit drops its Chaucer bid June 23, 2009 BRIT Insurance withdrew its bid for rival Lloyd’s of London insurer Chaucer Holdings yesterday, as private equity group Pamplona ramped up its assault on Chaucer by further boosting its stake. Brit said the board of Chaucer had decided not to recommend its £220m offer – worth almost a third less than for the group’s book [...]
Russian shares drop sharply June 23, 2009 Shares in Russia slid further yesterday, extending losses to more than 20 per cent this month, confirming its reputation of one of the world’s most volatile markets. While the FTSE All World Emerging index fell 9.7 per cent from its 1 June peak, Russia’s RTS has tumbled 21 per cent since 2 June, including a [...]
The gravy train shows no sign of hitting the buffers June 23, 2009 YESTIMOTHY BARBERIF the size of RBS boss Stephen Hester’s pay package wasn’t already invoking the wrath of the new breed of mealy-mouthed ascetics, the news that his bank is spending £300,000 on Wimbledon hospitality has really got them frothing into their sackcloth. These people seem to dream of some shining future in which MPs don’t [...]
Gazprom Neft reinstates the chief exec it replaced less than a week ago June 22, 2009 RUSSIAN oil and gas giant Gazprom yesterday did a U-turn over its plans for Aim-listed Sibir Energy, re-appointing Stuard Detmer as chief executive of the firm just days after replacing him with a candidate from its own legal team. Sibir said in a statement it had re-appointed Detmer at the request of the group’s oil [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 22, 2009 FINANCIAL TIMES BRAMDEAN FUND POSTS HEAVY FALLBramdean Alternatives, the listed fund of alternative funds, has posted its worst monthly fall in net asset value in sterling terms since its inception two years ago. The fund, which is managed by Nicola Horlick’s Bramdean Asset Management, suffered a 7.7 per cent fall in net asset value to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 21, 2009 THE SUNDAYSThe Sunday TelegraphBA CHIEF SNUBS SELECT COMMITTEEWillie Walsh, chief executive of British Airways, has refused to go before the House of Commons transport committee to give evidence on the future of aviation. The hearing, os scheduled for Wednesday next week – coincidentally the first day of the month that Walsh will work without pay [...]
Gazprom closing in on Sibir June 18, 2009 Russian gas export giant Gazprom Neft yesterday appointed Igor Tsibelman as new chief executive of Sibir Energy in a sign the state-controlled oil major is tightening its grip on the London-listed company. Tsibelman, head of international legal affairs at Gazprom Neft, will replace Sibir Energy’s acting chief executive Stuard Detmer with immediate effect, Sibir said. [...]