BT Group back on recruitment drive

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Economy
Written by Gary Howes   
Tuesday, 26 January 2010

 Morning Business News, Tuesday 26 January: BT Group, Chinalco, Porsche, Jabre Capital and Metalloinvest.


BT Group (LON:BT.A, NYSE:BT) has provided further evidence that the graduate labour market is improving.

This morning it is reported that BT Group will once again be setting up store on campuses across the UK in order to tap into the graduate market.

BT Group had stopped putting up stalls at leading universities to persuade undergraduates to join the company after completing studies due to the recession.

BT Group shares are currently 0.29% lower on the FTSE 100 this morning.

Chinalco


China plans to cash in on the soaring copper price by using its substantial reserves to snap up global assets while prices are low.

Lu Youqing, vice-president of Aluminium Corp of China (Chinalco), said that the state-owned group was studying worldwide copper resources to identify the best investment opportunities, the Telegraph reports.

Porsche


American hedge fund managers sued Porsche and two of its former top managers yesterday for more than $1bn (£620m), in what may be one of the biggest damages claims ever received by a German company.

Four fund managers — Elliott Associates, Glenhill Capital Management, Glenview Capital Management and Perry Capital — accused the sports car manufacturer, its former chief executive and its former chief financial officer of repeatedly lying about their intention to take over Volkswagen, the Times reports.

Jabre Capital


Jabre Capital, the Geneva-based hedge fund run by the former GLG Partners star trader Philippe Jabre, is to shut its flagship fund to new money from investors in an attempt to ensure its returns are not curtailed by its size. The fund – the $2bn (£1.2bn) Jabcap Multi Strategy – is to “hard close” for two years when it reaches $2.5bn in size, the FT reports.

Metalloinvest


Metalloinvest, Russia’s biggest iron ore miner, has revived plans for a London stock market listing that could value the group at as much as $20bn (£12.3bn) in what would be the third large City flotation planned by Russian oligarchs for this year.

The company, which is half owned by Alisher Usmanov, the Uzbek billionaire, has formally mandated Deutsche Bank to run the offering with Credit Suisse, according to people familiar with the discussions, the FT reports.

 
 
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