Word: auctions
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...last Wednesday of September, Russia's second largest oil company, Lukoil, hoisted the Stars and Stripes up a flagpole outside its Moscow headquarters to celebrate a landmark deal: with a $2 billion bid, the U.S. firm ConocoPhillips had just won an auction for the Russian government's 7.6% stake in the firm. The two companies promptly announced a strategic alliance to develop oil reserves in the Russian Arctic and potentially work together in Iraq. For Jim Mulva, Conoco's president and chief executive, the deal amounted to a coup, giving Conoco access to 8 billion bbl. of proven oil reserves...
...Khodorkovsky, a billionaire who had built Yukos into an energy powerhouse, was arrested and put on trial for alleged fraud and tax evasion, charges he says were trumped up. Since then Yukos has been hit with a $17 billion bill for back taxes, and the government is threatening to auction off the company's most valuable asset to pay them. Most Yukos accounts have been frozen, making it hard to pay suppliers and staff. But the company has called a shareholder vote for December to decide whether to file for bankruptcy protection; a principal reason it hasn't already done...
...Winning bid of an American restaurateur for a truffle at a charity auction last week, the most ever paid for one of the fungal delicacies...
...Sale price of a 1941 Inglenook Cabernet Sauvignon, a commercial-auction record for a standard-size bottle of California wine, purchased by film director Francis Ford Coppola's son Roman...
...Chapel at Saint-Remy; in Los Angeles. The descendants of Margarete Mauthner, a Jewish refugee who fled from Berlin to South Africa in 1939, say there is evidence the 1889 painting was confiscated from Mauthner by the Nazis. Taylor claims the painting, which she bought at a Sotheby's auction in London in 1963 for $257,000 and which is now worth $15 million, was sold by Mauthner in 1933, the year the Nazis came to power, "for financial reasons...