Tracker: Yukos chief calls for clarification
SIMON Kukes, the new chief executive of Russian oil giant Yukos, has called on his shareholders to clarify their
intentions for the company to end "damaging" speculation about its future. Yukos came close to completing a
merger with smaller rival Sibneft last year, but the deal collapsed after the arrest of then Yukos chief executive
Mikhail Khodorkovsky on tax evasion and fraud charges. Many Yukos shareholders want to reverse the deal, but in a
full-page advertisement in the Financial Times Kukes said "no concrete proposals" have been put forward on how
to do this, and he wishes to complete the merger as agreed. Eurotunnel seeks talks with government THE new all-French
board of beleaguered Channel Tunnel operator Eurotunnel has demanded a meeting with French transport minister, Gilles de
Robien, to discuss its plans to restructure the group's GBP 6.4 billion debt. The board pledged to seek the
intervention of the French and British governments after ousting Eurotunnel's board at a heated annual meeting in
Paris last week. The French government had advised Eurotunnel shareholders to vote to retain the company's former
board prior to the meeting and a spokesman said Paris remained opposed to any proposals involving government financial
help or changes to the tunnel's founding treaties. A Eurotunnel spokesman was unable to comment. Insight deal could
create Scots jobs BANK of New York is to take over the administration of Insight Investment's GBP 8 billion UK and
European mutual fund business, in a move which could create jobs in Edinburgh. Insight, the fund management arm of HBOS,
said the outsourcing deal would see Bank of New York take control of all the fund accounting, depositary and custody
arrangements for the funds. Most of this work is currently handled from an HBOS Financial Services centre in Bristol,
where up to 30 jobs are now believed to be under threat. Bank of New York's main UK fund administration businesses
are in London and Edinburgh. A spokesman for the US bank said a "significant portion" of the work being done
for Insight would be handled from Edinburgh. Finance workers vote on union merger MORE than 150,000 UK finance workers
have voted on whether to move towards the creation of a "super union" for their industry. Members of Unifi are
being balloted on a proposed merger with Amicus, which already represents 1.2 million workers. Unifi general secretary,
Ed Sweeney, said: "It has always been our aim to create a single union for the finance sector, and a merger with
Amicus takes a mighty step forward in that direction." Derek Simpson, general secretary of Amicus, said: "This
is a sensible, logical move. It is a coming together to address the problems facing all finance workers. I think this is
a very exciting time." The result of the ballot will be announced next month. London cabbies on road to windfall
THOUSANDS of London cabbies are in line for windfalls worth nearly GBP 5,000. Each of Radio Taxis' 2,500 drivers
will receive a payout of GBP 1,100 and 1,000 shares if they back a deal to change the firm's status to a private
company. The conversion involves US entrepreneur Brian McBride taking a 26 per cent stake in the business, with the
remaining shares spread between drivers and staff. Radio Taxis, established more than 50 years ago, is the
second-largest taxi operator in London behind ComCab, which also includes DataCab and Call-a-Cab. The deal will raise
more than GBP 10 million to enable it to expand beyond black cabs into other forms of personal transport such as
chauffeur-driven cars, couriers and shuttle buses. Henry Boot in 18th year of record profits PROPERTY developer Henry
Boot said the sale of its housebuilding arm to Wilson Bowden in April last year, had helped it to an 18th successive
year of record profits. The Sheffield group said pre-tax profits of GBP 30 million in the year to December 31 were
"outstanding". Turnover fell during the year to GBP 106 million against GBP 217m, but the firm said the rise
in continuing operations was "encouraging". Stephen Williams, of stockbrokers Williams de Broe, said the
decision to exit housebuilding had given the group greater focus, but warned: "The future profitability of the
group is likely to be much more volatile as it will depend on the size and timing of property and land sales."
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RUSSIA IN FACTS
