£48bn: The value bullish brokers have given to Glencore April 17, 2011 GLENCORE could be worth up to a fifth more than previously thought, according to bullish estimates by analysts, pushing its market cap value up to $78bn (£47.8bn) if it floats successfully in May. Analysts at Barclays Capital and Credit Suisse – both of which are on the deal – have suggested that the commodities trader [...]
Cameron: No UK ground troops for Libyan war April 17, 2011 LIBYAN rebels came under fire on the outskirts of Ajdabiyah yesterday, forcing them eastwards and denting hopes of an end to the war’s stalemate. One witness said he saw around a dozen rockets land near the western entrance to town, which rebels wanted to use as a staging post to retake the oil port of [...]
Hammerson chair for Lloyd’s April 14, 2011 John Nelson, chair of FTSE?100 property company Hammerson, is believed to be a front-runner for the role of chairman of Lloyd’s of London, the UK’s biggest insurer. The firm’s current chair, Lord Levene, will step down this year, leaving vacant a post that is seen as an ambassadorial role for the British insurance industry. Nelson [...]
STOCK EXCHANGE VET TO STAGE WEST END MUSICAL COMEBACK April 14, 2011 THE Stock Exchange Veterans dinner last night had the largest turnout in its 15-year history, with 470 brokers out in force at The Brewery. The event’s organiser Bill Sharp, head of institutional sales at Alexander David, was delighted to “see so many old friends”, including Ron Martin, chairman of Southend United FC, Brian Winterflood of [...]
Spotify slashes the amount of free music available to its army of users April 14, 2011 MUSIC streaming site Spotify faces a fan backlash after announcing it will slash the amount of free music available to new users. The Swedish firm, which was recently valued at more than $1bn (£612m), will limit users of its free service to just 10 hours a month – half the current allowance. It will also [...]
Glencore names Simon Murray new chairman April 14, 2011 Commodities giant Glencore has announced its new chairman amid a morning of controversy that saw former BP chairman Lord Browne widely but wrongly flagged to take the position. Simon Murray, executive chairman of fund manager General Enterprise Management Services International (GEMS) and former Hutchison Whampoa group managing director, is the new non-executive chair of the [...]
A spa for all seasons, particularly summer April 11, 2011 WHEN a Four Seasons opens, you can count on a bit of fanfare – some state-of-the-art design, some standard-setting opulence. When it reopens in London after a refurb costing £100m, your expectations can be even higher. Rooms, foyer, bar, restaurant and spa all have their own horns to toot. In the case of the Four [...]
The George Hotel 4* April 11, 2011 In the heart of lively St. Julians, The George is in a fabulous location for enjoying the playful side of Malta. The hotel itself has a stylish ‘urban boutique’ feel to it, and by that we mean it’s fresh, sleek and cool. For a real taste of the high life you can kick-back on the [...]
Tide is turning towards interest rate hike, says Bank’s Sentance April 10, 2011 THE BALANCE of opinion is turning towards a gradual rise in interest rates, the Bank of England’s chief hawk Andrew Sentence said yesterday. “I’m not sure I am swimming against the tide because I think the balance of opinion has been shifting in that direction,” Sentance said, referring to the growing support for normalisation of [...]
Phone hacking scandal hangs over Sky deal April 10, 2011 RUPERT Murdoch’s planned takeover of BSkyB should not be affected by his UK news arm admitting a long-running phone hacking scandal, politicians said yesterday, but the scandal threatened to overshadow the prospective deal. News International, parent company of the News of the World tabloid, said on Friday it would admit liability and pay compensation in [...]