Russian markets take a hit as Ukraine ends truce July 1, 2014 Russian markets are taking a beating in the wake of Ukraine's decision to end the ceasefire with pro-Russian rebels. The Russian ruble has fallen sharply against the US dollar, with a 0.7 per cent slide. Meanwhile, Moscow's MICEX index dropped by 0.9 per cent after the announcement. Ukrainian President Petro Poroshenko said the renewed hostilities [...]
What the other papers say this morning – 01 July 2014 June 30, 2014 FINANCIAL TIMES EU slams US over Microsoft privacy A US attempt to force Microsoft to hand over emails held on servers in Ireland has drawn a strong rebuke from Brussels in one of the first tests of cross-border privacy raised by cloud computing. The US demand could contravene international law and should have been handled [...]
What the other papers say this morning – 30 June 2014 June 30, 2014 FINANCIAL TIMES Value of M&A hits $1.7 trillion Deal frenzy, animal spirits, merger mania – call it what you like, it is back. The value of global mergers and acquisitions hit $1.75tn in the first six months of the year, a 75 per cent rise on the same period last year and the highest since [...]
What the other papers say this morning – 27 June 2014 June 26, 2014 FINANCIAL TIMES GoPro soars on Nasdaq debut Shares in GoPro soared higher than the daredevil sports enthusiasts who use its action cameras as it made its stock market debut yesterday leaping more than 30 per cent to over $31 in its first morning of trading. The initial public offering is the biggest for a consumer [...]
Fund managers bearish about prospects for Chinese economy June 26, 2014 FUND managers are unconvinced about the potential for the Chinese economy this year, and a sizeable majority expect the country’s imports and exports to get worse as the summer gets underway. In a survey conducted by Capital Spreads and seen exclusively by City A.M, twothirds of the hundreds of fund managers surveyed expect that both [...]
Letters to the Editor – 27/06 – Global money, Airport options, Best of Twitter June 26, 2014 Global money [Re: Bretton Woods: How stable monetary order was created and then destroyed, Tuesday] An interesting historical article, but the author displays a misguided support for a fixed international monetary system. If a floating exchange rate system is associated with the global expansion of credit, the older order is associated with the inability of [...]
Martin Sorrell under fire as WPP clashes with investors June 25, 2014 Advertising titan WPP clashed with investors at its annual meeting yesterday after nearly 30 per cent of shareholders failed to support chief executive Sir Martin Sorrell’s £30m pay package. Sorrell’s total pay for 2013 shot up by 70 per cent, nearing to £29.8m, making him the highest paid executive in the FTSE 100. At the [...]
Minister keen to keep tough visa stance June 25, 2014 IMMIGRANTS’ success in the City will not persuade the government to end its crackdown on visitors to the UK, financial secretary to the Treasury Nicky Morgan said yesterday. Speaking at TheCityUK’s conference on Britain’s place in the EU, the MP said Ukip’s success in the European elections cannot be ignored, indicating the City’s needs will [...]
Treasury minister Nicky Morgan clashes with City on immigration June 25, 2014 Immigrants’ success in the City will not persuade the government to end its crackdown on visitors to the UK, financial secretary to the Treasury Nicky Morgan said today. Ukip’s success in the European elections cannot be ignored, the MP said, indicating the City’s needs will not be allowed to take priority over wider anti-immigrant [...]
BHP Billiton to cut thousands of mining jobs June 24, 2014 MINING giant BHP Billiton is looking to cut up to 3,000 jobs in its mining operations in Western Australia as it seeks to reduce costs, following the significant drop in the iron ore spot price of over 30 per cent so far this year. The London-listed resources group, which was one of the largest in [...]