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| Kinross takeover bet appears to be a calculated winner
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ERIC REGULY
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Thursday, September 09, 2010
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ereguly@globeandmail.comBig gold discoveries, like big oil discoveries, are becoming increasingly rare. You've heard of peak oil? Gold guys talk about peak gold. Global production has been on the wane since 2001, in spite of a 10-year run of rising prices and endless drilling.
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| As food prices jump, UN group tries to avoid fuelling new crisis
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ERIC REGULY
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Tuesday, September 07, 2010
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Two years after the food crisis, when soaring prices raised the spectre of mass hunger and starvation, food inflation has made a comeback.For Potash Corp. of Saskatchewan Inc., the world's biggest fertilizer maker, the price surge could not come at better time as it fights a $39-billion (U.S.) takeover bid from BHP Billiton Ltd. But in the developing world, the strain of higher food costs is beginning to show.
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| In the battle for Potash Corp., domestic heroes are in short supply
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ERIC REGULY
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Thursday, September 02, 2010
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ereguly@globeandmail.comWe are bored with endless stories about the alleged economic recovery, about minor fluctuations in the GDP, the unemployment rate and the C-buck. What we need to shake us from our stupor is a blockbuster hostile takeover, one with all the requisite ingredients for a white-knuckle ride: Combative, mud-slinging CEOs, more twists and turns than a pulp detective novel and, most of all, rival bids to sate the greed of everyone from the quick-buck artists to the pension funds.
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| The great drain
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ERIC REGULY
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Friday, August 27, 2010
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Assume you are a big-name international resource producer, maybe an oil company. From the following selection, choose two countries where you would most want to operate: Canada, United States, Russia, Venezuela, Bolivia and Ecuador.
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| LONDON'S MIRACLE WASTELAND
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ERIC REGULY
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Monday, August 09, 2010
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ereguly@globeandmail.comStratford City's main street, in East London, is a seedy mess.Many storefronts are boarded up, though Workplace, the local employment office, is doing a thriving business trying to find work for the hopelessly unemployed.
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| BP could be in for another crude awakening
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ERIC REGULY
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Thursday, August 05, 2010
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ereguly@globeandmail.comThere must be a Big Business law that guarantees that three industries always win, no matter what calamity befalls them, no matter what sins they commit or stupidities are thrust upon them by greedy or incompetent management. The three are banks, defence contractors and oil companies.
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| Xstrata open to merger proposal
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ERIC REGULY
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Wednesday, August 04, 2010
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Xstrata PLC appears receptive to a deal with Glencore International AG or another commodities company but only if it were to add considerable value to Xstrata's shareholders.Mick Davis, chief executive officer of Xstrata, the Anglo-Swiss mining giant that owns Canadian nickel producer Falconbridge, said his company has received no merger or takeover proposal from Glencore, the world's biggest commodities trader, though it is widely known that they have had discussions about putting the companies together. ''We will take any opportunity to create substantial value,'' he said on Tuesday, as the company unveiled a threefold rise in first-half profit to $2.3-billion (U.S.).
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| Glencore deal would waken a sector in hibernation
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ERIC REGULY
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Thursday, July 29, 2010
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ereguly@globeandmail.comThe eyes are blinking, the limbs are twitching. Mining companies are emerging from their two-year coma. Money is being raised and boardrooms are once again buzzing with deal talk. One deal in particular - the initial public offering of Glencore International - has the potential to make the entire industry sit bolt upright. The IPO is almost certain to happen next year and would trigger a flurry of other stock market listings, mergers and takeovers.
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| Cheap oil? Not with millions of Chinese car drivers
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ERIC REGULY
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Thursday, July 22, 2010
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ereguly@globeandmail.comIn late 2007, Jean Claude Gandur, the founder of Addax Petroleum, a Toronto-listed oil company that had built up a big production portfolio in West Africa, pretty much knew how his company's story would end. Addax, he predicted without hesitation, would become a takeover target and it would go to a Chinese, perhaps an Indian, buyer.
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| Maybe Germany should turf itself from euro zone
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ERIC REGULY
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Thursday, July 15, 2010
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ereguly@globeandmail.comThe world's biggest ATM machine, the euro zone's €440-billion ($579-billion) sovereign rescue fund, is about to be plugged in. The first countries to slip their cash cards into the dispenser might be Greece, Portugal and Spain. You can almost hear the collective moan from Germany, the main sponsor of the fund. If those countries drain the ATM machine, German taxpayers will be out more than €150-billion.
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| EU tests aimed at restoring confidence in banks
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ERIC REGULY
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Friday, July 09, 2010
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European regulators say they will publish stress-test results of 91 banks - almost four times as many as last year's tally - but did not reveal the nature of the tests for the lenders' potentially explosive sovereign debt holdings.
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| The shadowy legacy of BP's former 'Sun King'
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ERIC REGULY
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Thursday, July 08, 2010
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ereguly@globeandmail.comAt BP, where he was CEO from 1995 to 2007, he was known as the ''Sun King.'' He was said to be obsessed with status, counted Tony Blair among his friends and ruled without opposition as he turned the second-tier British oil company into a potential Exxon beater. He was considered arrogant and clever. His underlings would refer to him as the ''small but perfect'' boss - a gentle swipe at his compact size - or, less kindly, ''one half genius, the other half missing.''
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| In Albania, shadowy memo haunts Calgary energy firm
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ERIC REGULY
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Wednesday, July 07, 2010
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One of Canada's fastest-growing energy companies is grappling with a murky set of unsubstantiated allegations of environmental damage in Albania, the tiny Mediterranean country blessed with Europe's biggest onshore oil field.
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| Europe to give its banks another stress test
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ERIC REGULY
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Friday, July 02, 2010
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Europe is set to unleash rigorous U.S.-style stress tests on its battered banks, an effort designed to prevent a repeat of the banking crisis that paralyzed the global financial system less than two years ago.
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| BP should say goodbye to its U.S. operations
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ERIC REGULY
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Thursday, July 01, 2010
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ereguly@globeandmail.comIf you're charitable, you could call them value investors or opportunists. If you're not, grave dancers or bottom feeders would do. Whatever name you choose, there is no doubt they are eyeing BP in the same way a famished wolf eyes a fat wounded lamb. The takeover of BP could very well be the next phase of the sorry corporate saga that started on April 20, when the British oil giant's Deepwater Horizon rig went to the bottom of the Gulf of Mexico, triggering the worst oil blowout in American history.
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| The robots at the bottom of the deep blue sea
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ERIC REGULY
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Monday, June 28, 2010
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Visitors to the Yorkshire Moors are attracted to the heather-covered fields, gentle green valleys and charming market towns - the backdrop to Emily Bronte's Wuthering Heights. It's hard to imagine a lovelier spot in England.
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| The scary euro? Maybe the real monster is the greenback
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ERIC REGULY
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Friday, June 25, 2010
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ereguly@globeandmail.comThe words that have dominated headlines on the euro have bordered on apocalyptic: crisis, blowout, sinking, disaster, chaos, death, storm, tragedy, fear, contagion. This is how the world has come to see Europe's shared currency.
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| Bank tax push gains speed
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ERIC REGULY
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Wednesday, June 23, 2010
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Three of Europe's biggest economies have thrust the bank levy debate back on to the global agenda despite Canada's best efforts to kill it, a move that threatens a showdown at the Group of 20 summit.
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| No accents please: BP's PR woes start at the top
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ERIC REGULY
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Thursday, June 17, 2010
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ereguly@globeandmail.comOn the British side of the pond, BP is winning the public relations war on the Gulf of Mexico oil spill. Britain's reliably jingoistic and enjoyably savage newspapers talk about the American ''lynch mob'' bent on BP's murder. BP's PR battalions have whipped the chattering classes into a tizzy about the potential loss of the company's fat dividend.
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| Miele's recipe for success: High-end product, low-key structure
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ERIC REGULY
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Monday, June 14, 2010
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Kitchen porn reached tantalizing new heights at Eurocucina, the biennial spring show in Milan.Airport-sized exhibition halls were stuffed with the sleekest and most technologically sophisticated kitchens and appliances money can buy. Some kitchens had built-in libraries; others looked like the USS Enterprise's command bridge, with blinking, chip-laden appliances all digitally yakking to one another.
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| Rigeur (austerity)
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ERIC REGULY
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Friday, June 11, 2010
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ereguly@globeandmail.comBritain and Germany are doing it. So are Spain and Italy.The European Union's biggest countries are rolling out austerity programs that range from the tough to the brutal. Notably absent from the list of courageous cutters is France. President Nicolas Sarkozy refuses to mention the R word - rigeur - which is French for austerity.
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| We've seen the oil spewing ... where's the public outcry?
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ERIC REGULY
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Thursday, June 10, 2010
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ereguly@globeandmail.comWhere is the rage? Yes, U.S. President Barack Obama would have BP PLC boss Tony Hayward dismissed and the pictures of oil-soaked pelicans are heart breaking to anyone who can be bothered to look at them. Yes, the discovery of vast submarine plumes of oil have agitated scientists, if not the oblivious sunbathers.
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