Asian markets see gains as threat of war recedes March 5, 2014 Asian shares are rising modestly after remarks by President Putin eased fears of an imminent military strike, saying force would be used as a last resort, adding: “It will be legitimate, fully corresponding to the norms of international law.” As the threat of war in Ukraine receded, credit risk dipped to the lowest point this [...]
UK exposure to Ukraine crisis extremely limited March 4, 2014 The UK is facing only limited exposure to the crisis in Ukraine, according to a note from London-based consultancy Capital Economics. The UK's direct trade with Ukraine is close to insignificant, with UK exports to Ukraine amounting to just 0.2 per cent of the total in 2012. UK banks' are also relatively safe from exposure [...]
Putin defends Gazprom price hikes on Ukraine March 4, 2014 Russian President Vladimir Putin has defended a planned price rises for Ukraine by state-owned Russian energy giant Gazprom. Speaking to a press conference President Putin said: They failed to pay off the debt, I think it's $1.5bn as of today, and if they don't pay for February it's going to be $2bn. So if you [...]
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 [...]
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 [...]
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 [...]
Asian markets show resilience in face of Ukraine chaos March 4, 2014 Asian shares are showing resilience despite high levels of uncertainty surrounding the situation in Ukraine. However, many investors are seeking a safe haven in assets such as gold as tensions rise. Last night, world leaders condemned Russia's invasion of Ukraine while Britain, America and the EU vowed to boycott the planned G8 meeting in Sochi. [...]
Warren Buffet goes bearish on Bitcoin March 3, 2014 Investment guru Warren Buffet has given his opinion on the cryptocurrency Bitcoin. Speaking to CNBC on Monday, he said: It's not a currency. It does not meet the test of a currency. I wouldn't be surprised if it's not around in 10 or 20 years It's not a durable means of exchange; it's not a [...]
Jobseekers who break the rules should sign on daily says new report March 3, 2014 Benefit claimants who break the conditions of their job search requirements should be given "top-up" benefit cards and asked to sign on daily, according to a report released today by think tank Policy Exchange. The report recommends a series of solutions to tackle the problem of incorrectly applied sanctions as well as punishing noncompliant behaviour. [...]
