Growth to $1.57 trillion in global defence spending this year is set to kick off decade of growth December 12, 2016 An increase in global defence spending this year is about to kick off a decade of growth in the sector, according to research from IHS Markit. Defence spending grew one per cent to $1.57 trillion (£1.2 trillion) after “lacklustre” outlays last year, IHS Markit estimated in its Jane Defence Budgets Report, an analysis of 105 [...]
Glencore and the Qatari sovereign wealth fund have partnered up to buy 20 per cent of Rosneft in the “largest deal in the history of Russia” December 12, 2016 Shares in British mining giant Glencore rose this morning after it confirmed it has teamed up with the Qatari sovereign wealth fund to finalise a deal dubbed the "largest in the history of Russia". Shares were up 1.3 per cent at 304p in early trading, after Glencore said it had launched a strategic partnership with the Qatar [...]
Oil prices set to lift as non-Opec states including Russia and Mexico join efforts to pump up prices December 11, 2016 Oil prices are expected to jump this week after 11 oil-producing countries agreed on Saturday to join the Organisation of the Petroleum Exporting Countries (Opec) in an output cut. Kazakhstan, Russia, Mexico and Bahrain were among the non-Opec nations that agreed to reduce production by 558,000 barrels per day (bpd) for the first six months [...]
US intelligence agencies believe Russia intervened to help Donald Trump win presidential election December 10, 2016 US intelligence agencies have “high confidence” Russia acted covertly to boost Donald Trump’s chances in the US presidential election. Both the Wall Street Journal and New York Times have reported the findings, citing senior US officials. Read more: Donald Trump has beaten Nigel Farage to be named Time's Person of the Year Trump’s transition team [...]
Jeremy Corbyn speech on human rights disrupted by Syria campaigners December 10, 2016 Campaigners disrupted Jeremy Corbyn today as he attempted to deliver a speech on human rights. The human rights activists were protesting Labour’s response to the war in Syria. Read more: Corbyn confirms Labour will seek an amendment to Article 50 bill As Corbyn began speaking, a group of campaigners moved in front of the Labour [...]
BP’s CEO has vowed to double North Sea oil production in the next four years December 10, 2016 UK’s oil major BP (NYSE:BP) will double its production in the North Sea to 200,000 barrels of oil per day, chief executive Bob Dudley said in an interview with Energy Voice in Aberdeen on Wednesday. “You will see portfolio changes for us in the North Sea, but you may see us invest in other projects [...]
Over 1,000 Russian athletes benefited from state-sponsored doping programme, Wada report finds December 9, 2016 Over 1,000 Russian athletes benefited from state-backed doping cover-ups between 2011 and 2015, according to a new independent report from the World Anti-Doping Agency (Wada). The second report into doping from law professor Richard McLaren found that doping took place across 30 sports and at Olympic Games, Winter Olympic Games and Paralympic Games. McLaren's findings will [...]
Oil rises ahead of weekend meeting between Opec and non-Opec producers December 8, 2016 Oil markets were choppy today as traders got jittery ahead of a weekend meeting of Opec and non-Opec producers. Prices dipped in London afternoon trading after Russian news agency Tass reported the meeting, due to be held this Saturday in Vienna, could be postponed. However, a Russian energy ministry spokeswoman later said there were no [...]
Gotta catch ‘em all: how extreme collectors hunt down the world’s rarest watches December 8, 2016 In a thankfully deserted café near the river in Battersea, my acquaintance extracts an unassuming plastic shopping bag from a rucksack. From inside it, he unfurls 12 wristwatches, laying each one gently on the table; were the sole waitress present paying us any attention, she might think it a rather suspicious scene – even more [...]
OPEC’s celebrated and unexpected deal has papered over the market’s cracks December 8, 2016 The outcome of the Vienna meeting came as a pleasant surprise to oil markets. A deal had been hammered out and, despite the resistance, OPEC and Non-OPEC producers had agreed to cut a total of 1.8mbpd. Saudi Arabia − suffering from a major dent in its economy− has agreed to the largest cut. OPEC producers [...]