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Lonrho investors threaten action

THE BATTLE between Lonrho Africa and a group of investors linked to George Soros took a fresh twist yesterday when the shareholders threatened legal action against the troubled conglomerate. Blakeney Management, an investment fund seeking an overhaul of the Sub-Saharan group's board, claimed the company had made defamatory remarks against some of its associates.

Lonrho Africa on the attack

LONRHO AFRICA, yesterday went on the counter-offensive with a scathing personal attack on one of the George Soros-backed investors who are calling for a major shake-up of the troubled the sub-Saharan conglomerate.

Big game hunters stalk Lonrho Africa

A master predator is on the prowl, but the plantations-to-property group is determined not to give in without a fight, writes Marc Lopatin

Lonrho Africa battles Soros raiders

LONRHO AFRICA, the hotels-to-agriculture sub-Saharan conglomerate, was last night locked in a torrid battle with investors linked to George Soros who are trying to win control of the group.

Outlook: Steer clear of this market madness

SHARES IN Glynwed, the Midlands-based engineering concern, have halved over the last six months. There has been some respite in recent days, but on a historic basis, the shares are still yielding at 11 per cent, nearly double their price/earnings ratio. Normally when such a cross- over occurs, it is strongly suggestive of a big dividend cut to come. It might reasonably be said that although things are bad in the engineering sector, what with the strong pound, high interest rates and plunging world demand, they are not that bad.

There's no quick fix to the world's economic crisis - but don't panic

George Soros lost $2bn and the rest of us wonder why the global panic indicators have clicked up so suddenly

Soros warns turmoil could spread

INTERNATIONAL FINANCIER George Soros said yesterday there was "general panic' in Latin American markets and that a financial collapse in Brazil could spread to Argentina.

Hong Kong bolsters currency board

THE HONG KONG Monetary Authority yesterday announced fresh initiatives to clamp down on market speculators and strengthen the currency board system that has been at the heart of the former colony's past economic success, write our City staff.

Television News: Let's hear it for talking heads

There is a certain grammar to television news, and indeed to all factual television. Take the briefest report. It is almost invariably built up of just three elements: pictures - "general views", or GVs - of what the reporter is talking about; a report; either voice-over or to camera; and an interview.

Leading article: There's no point throwing good money at the rouble

THE GLOBAL dominoes that began falling in South-East Asia last summer continue to go down. The "tiger economies" in the East have already tumbled, some, such as Indonesia, spectacularly; Latin America, Hong Kong and China are still under threat. But the greatest scalp of all has gone to the speculators, with the devaluation of the rouble, raising the spectre of a destructive round of world-wide beggar-my-neighbour devaluations.

A rotten, decaying nation

Russia's problems are usually presented as highly dramatic. In reality, things just get steadily bleaker

Yeltsin vows to defend rouble

THE RUSSIAN stock market yesterday rebounded from Thursday's dramatic plunge, lending much-needed relief to the London and European bourses and Wall Street, after President Boris Yeltsin vowed not to devalue the rouble, writes Francesco Guerrera.

Troubled times for the king of the nerds

Michael Lewis profiles John Meriwether, the market revolutionary whose day may have passed

Mystery investors hold 4% of Lonrho Africa

THREE TRUSTS which may be associated with George Soros, the billionaire investor, hold 5 million shares in Lonrho Africa, the chief executive, Mark Newman, confirmed yesterday. He welcomed the new investors, known as the Greenway consortium, but emphasised that he has had no approaches from the new shareholders and has so far made no attempt to identify them.

Investment Column: Lonrho Africa's defences weak

IF THE mystery shareholders who bought 4 per cent of Lonrho Africa this month do mount a bid, the company could have one of the shortest lives on the London stock market. The group itself remained tight-lipped about the speculation - which has named George Soros and former chief executive Tiny Rowland as bidders - saying it had not held any discussions with potential suitors.
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