New surge in Russia-Ukraine tensions as both countries block transit February 15, 2016 Ukrainian trucks have been banned from Russia, in retaliation to the blocking of Russian vehicles in Ukraine, said Russia's transport ministry. “The measures will be in place until a settlement of issues of illegal blocking of Russian auto vehicles on the Ukrainian territory by the Ukrainian side,” the ministry said in a prepared statement cited by [...]
Bosnia and Herzegovina applies for EU membership February 15, 2016 Bosnia and Herzegovina applied for EU membership today. If accepted, it will become the 29th member state in the union, which the country hopes will boost its economic and political standing. The country, which has a tumultuous history of conflict during its time as part of the former Yugoslavia, undertook an ambitious package of reforms last [...]
Thousands of steelworkers to protest in Brussels for EU action against Chinese dumping February 15, 2016 More than 5,000 European steel workers are expected to gather together to protest in Brussels today, to coincide with a conference on the future of EU steel. The industry is urging EU leaders to stop Chinese 'dumping' of cheap steel, which it argues is giving the Asian superpower an unfair advantage and is putting thousands [...]
Reckitt Benckiser’s share price soars on better-than-expected full-year results February 15, 2016 Reckitt Benckiser's share price soared more than six per cent in early trading, after the consumer goods company unveiled better-than-expected full-year results. The FTSE 100 firm today posted a five per cent increase in sales to £8.87bn over the year, thanks to a particularly strong performance in its consumer health division, which includes brands such as [...]
Greed is not so good: Britain’s bankers are more stressed than ever February 15, 2016 It might be time to feel sorry for Britain's bankers. Apparently turning into social pariahs after the financial crisis has taken its toll on their mental health. Demand for insurance to protect revenues against the cost of paying staff who are too stressed to work has surged, according to data from financial services group Willis [...]
BP forecasts shale output to soar despite Saudi stand-off February 10, 2016 Saudi Arabia’s plan to drive out US shale producers will not work, according to BP’s Energy Outlook for 2016. The widely-read annual report predicts a 34 per cent rise in global energy consumption by 2035, almost 80 per cent of which will be supplied from fossil fuels. However, it forecasts stronger growth in shale that [...]
UK exit from the EU would damage our insurance market, says Lloyd’s of London February 10, 2016 A Brexit would damage London’s £30bn insurance market, Lloyd’s of London has claimed. Sean McGovern, chief risk officer and general counsel at Lloyd’s, said today that “exiting the EU will create a level of uncertainty, for Lloyd’s, for the London market, as well as the UK and European economies, we have rarely experienced”. London’s insurance [...]
Hikma Pharmaceuticals’ share price plunges on lower offer for US drugs business February 10, 2016 Hikma Pharmaceuticals’ share price plummeted 20 per cent this morning, after the drugmaker slashed its offer price for Boehringer Ingelheim (BI)’s US generic drugs division. It almost halved the cash part of its offer for Roxane Laboratories from $1.18bn (£813m) to $647m, after due diligence into the company revealed that Roxane’s 2015 revenue was likely [...]
Brexit may push UK into recession and lower house prices, City economists warn February 9, 2016 A BREXIT could push Britain into recession, cause inflation to skyrocket and slash house prices, City analysts warned today. Nomura economists said that an exit from the European Union could drastically damage investor perception of the country and thus weaken the economy. In the event of a Brexit, overseas investors could shy away from financing [...]
E.On and Age UK suspend fixed-priced energy tariff amid regulatory probe February 9, 2016 Age UK has suspended its fixed-price energy tariff with big six supplier E.On, the two companies announced today, after the controversial deal came under regulatory scrutiny. The elderly person's charity said that the two-year fixed deal will no longer be offered to new or renewing customers from midnight on Wednesday, although existing contracts will be [...]
