London Report: FTSE rises as Ukraine-Russia fears subside August 18, 2014 THE FTSE 100 yesterday climbed on the back of investor relief that a feared escalation in the Ukraine crisis had failed to materialise. Tensions spiked on Friday when Ukraine said it had partially destroyed an armoured column that had crossed the border from Russia, triggering a sell-off in global shares. But Moscow made no threat [...]
New York Report: Nasdaq reaches 14-year high as stocks rally August 18, 2014 WALL Street rallied yesterday, with the Nasdaq closing at a 14-year high, as increasing confidence among home builders and hopes for receding tensions in Russia emboldened investors in the equity market. The Dow Jones industrial average jumped 175.83 points, or 1.06 per cent, to close at 16,838.74. The S&P 500 rose 16.68 points, or 0.85 [...]
UK house prices down 2.9 per cent in a month, London’s drop 5.9 per cent August 18, 2014 After the great heating comes the cooling: according to the latest figures from Rightmove the property market is slowing down. House prices across England and Wales were down 2.9 per cent, constituting the biggest drop Rightmove has ever seen in August. London prices, forever ahead of the curve, fell by 5.9 per cent. Every borough in [...]
Rosneft in deal to drill in the Arctic despite sanctions August 18, 2014 Rosneft, Russia's largest oil company, is about to drill for oil in the Arctic in tandem with a Norwegian company, despite the sanctions reaching for the Russian oil industry. Statoil is the firm in question: a state-run Norwegian company that will help Rosneft to drill in the Bering Sea. The site is inside the Artic [...]
Taxpayer to cough up £224m after e-borders contract termination ruled unlawful August 18, 2014 The UK taxpayer is facing a £224m bill after a tribunal in Massachusetts ruled that the government had unlawfully terminated a contract with a US defence firm. Raytheon, the US company is question, is to receive hefty payouts regarding a contract to provide the much-maligned e-borders programme, which was commissioned by the Labour government and cancelled by [...]
Bitcoin crashes to below $500 August 18, 2014 Bitcoin has crashed to below $500 for the first time since May, dipping as low as $309 on BTC-e, the world’s third-largest Bitcoin exchange. The “flash crash” put an end to a relatively stable period for Bitcoin. The cryptocurrency has been the subject of big sell-offs since last week. Cryptocurrency site CoinDesk reckons it has shed [...]
The fat lie: Britain’s rising obesity unmasked August 18, 2014 New research suggests the UK's rise in obesity has not been caused by, as many have suggested, high-fat foods and sugary drinks but by a lack of physical activity. Conducted by the Institute of Economic Affairs (IEA), the briefing paper argues against the claim that calorie consumption has been the primary cause of the UK's [...]
Compensation for EU fruit and veg growers hit by Russian sanctions August 18, 2014 Fruit and vegetable growers in the European Union will receive emergency funding worth 125m euros from the European Commission. The funding represents compensation for the economic suffering that Russia's bans on western food imports are causing some European farmers. Russia placed a one-year embargo on a number of imports from the US, Canada, [...]
London rental prices grow at slowest pace in the UK August 18, 2014 London’s rental market has inflated at record speed in recent years as high house prices prevented swathes of potential first-time buyers from taking the leap. In fact last June average rent in the capital stood at £1,295 per month, just over £500 more than prices in the South West, the next-most expensive region. But [...]
Uber ban suspended: Berlin court upholds opposition to taxi app prohibition August 18, 2014 Uber has received some welcome news from Berlin's Administrative Court. Last week, the Berlin State Department of Civil and Regulatory Affairs said Uber risked passenger safety through the use of “unverified drivers in unlicensed vehicles” and consequently banned the popular taxi app. The company had been threatened with fines of up to €25,000 for each [...]