Putin: Armed troops in Ukraine are last resort March 4, 2014 President Putin, who’s currently speaking at a news conference, has said there’s no need to send troops into Ukraine now, but that Russia still "has that option". Deploying armed forces is, he said, would only be done in an extreme case. "So the tense situation in Crimea related to the possibility of use of force [...]
The poll that shows not one majority in any Ukrainian region favours joining Russia March 4, 2014 Russia's incursion into Crimea has so far been justified on the grounds of protecting those citizens of Russian descent and Russian speakers. On Monday, Russian foreign minister Sergey Lavrov, at UN meetings in Geneva, said "this is a question of defending our citizens and compatriots, ensuring human rights, especially the right to life." However, these [...]
Retail banks moving in right direction on bonus schemes says regulator March 4, 2014 The Financial Conduct Authority (FCA) has said this morning that all major retail banks have replaced or made “substantial changes” to financial incentive schemes. “Significant improvements” in weak areas across the industry have been made, it added in its statement this morning, although it found that one in 10 firms with sales teams had "high-risk" [...]
UK’s wet weather slows house building but means more maintenance work March 4, 2014 The pace of activity in the UK construction sector eased back a touch in February but output still increased for the tenth month in a row, with the purchasing managers’ index for the month at 62.6. Analysts had been expected a fall to 63.0 from 64.6 – January’s very strong reading, which was a 77-month [...]
European markets are rising after reports of Russian pullback March 4, 2014 The FTSE 100 is up 1.3 per cent this morning, the Dax over one per cent and the CAC 40 1.5 per cent. Spain’s Ibex 35 and Italy’s FTSE MIB are both up over one per cent. The rebound follows the sharp knocks bourses took yesterday on growing tensions in Ukraine. Russian stocks are rallying [...]
Glencore Xstrata upbeat about 2014 after 2013’s weaker prices March 4, 2014 Glencore Xstrata has confirmed that it saw broad production growth over 2013. Copper increased 26 per cent, despite a reasonably challenging year for the metal, and reported revenue rose nine per cent to an astonishing $233bn last year. On a pro forma basis, revenue crept up just one per cent to £239bn, showing that, like others, the [...]
Serco profits plunge and warns of tough times ahead March 4, 2014 Troubled outsourcing firm Serco has seen its profit before tax plummet by 62 per cent to £106m. The company has been hit hard by profit warnings and large fines for overcharging on tagging prisoners. Ed Casey, acting group CEO, said: We have been through a difficult year and there remains much to be done to [...]
What you need to know before the open March 4, 2014 Russia’s stock market has jumped five per cent this morning, a rebound from yesterday’s catastrophic fall of over 10 per cent. The rebound could be a response to reports that Russian troops have been ordered back to their bases, which also mean European markets should open higher this morning. The US has suspended military relations [...]
Fresnillo profits dive as gold production falls March 4, 2014 Fresnillo shares are down nine per cent in wake of the company's full year financial results. Mexico-focused miner Fresnillo has reported a collapse in profit before tax of 64 per cent to $418m for the year ended 31 December 2013. Attributable gold production suffered a fall of 10 per cent to 425,831 ounces, largely due [...]
Russia sees shares rebound as it says Yanukovich asked for troops March 4, 2014 Russian shares have bounced back this morning with the Micex index climbing five per cent at the open, after suffering a 10.8 per cent crash yesterday. The stock market is currently up three per cent, possibly responding to reports that Russian troops have been ordered back to their bases. It's also come to light this [...]