IMF has cut its global growth outlook due to China, the US dollar and geopolitical tensions January 19, 2016 The International Monetary Fund (IMF) has cut its global growth forecast for this year by 0.2 percentage points to 3.4 per cent, citing risks relating to the emerging markets. It comes amid a medley of risks which includes a sharper-than-expected slowdown in China, the impact of a strong dollar on the US economy and geopolitical tensions in a [...]
The athletics doping scandal has no quick fix – IAAF president Seb Coe must face up to a 10 year clean-up project January 19, 2016 Last week, the World Anti-Doping Agency (Wada) published its report on the International Amateur Athletics Federation (IAAF), in which Wada highlighted the "embedded corruption" within the IAAF. The conclusion was not unexpected: Last year the industrial-scale doping activities of Russia were revealed and it was alleged that former IAAF president Lamine Diack had taken payments [...]
Fourth industrial revolution? Davos 2016 faces the same old problems January 19, 2016 As if the third week of January wasn’t depressing enough, it is time for us to haul ourselves back to the snowy mountain town of Davos and the World Economic Forum (WEF). This year, WEF founder Klaus Schwab wants us to think about “Mastering the Fourth Industrial Revolution”. Fourth industrial revolution? For me, any mention of “industrial [...]
Oil steadies after Iranian influx pushes the price to under $28 January 18, 2016 The oil price steadied in yesterday’s trading after the immediate reaction to Iranian production coming back onto the market sent it below $28 a barrel. International benchmark Brent crude fell to fresh lows not seen since September 2003, hitting $27.67 before climbing back about $28. Oil cartel group Opec warned in its latest monthly review [...]
How Spotify and streaming is changing the world of music piracy in 2016 January 18, 2016 Piracy is still a massive problem – both in the UK and globally, but the habits of 14 billion visits in 2015 reveal the changing face of music piracy. The main trend of 2015 was a shift towards music web downloads and streaming rather than torrenting. With a decline of 20 per cent for the [...]
The terminal flaw at the heart of Saudi Arabia’s low oil strategy January 18, 2016 “If people want to know who I am, it is all in the work.” – Alan Rickman Like everyone I know with a soul, I find myself in genuine mourning for the great British actor Alan Rickman, who died last week. It is impossible for me to think of anyone who brought me as much [...]
Deputy chief of the Russian prison service Alexander Protopopov is accused of stealing a road January 14, 2016 A senior Russian official was detained by police yesterday and is facing charges for the unusual crime of stealing a road. Alexander Protopopov, the acting deputy chief of the Russian national prison service, could spend 10 years in his own jail for misappropriating state property while in an official position, Agence France-Presse (AFP) reported. Protopopov allegedly stole a 50km stretch of public road while he [...]
Wiping world records will help to restore integrity, say UK Athletics January 11, 2016 Governing body UK Athletics has called for world records to be reset in a bid to cleanse the probity of a sport which has become overshadowed by allegations of corruption. The radical proposal is one of 14 contained within ‘A Manifesto for Clean Athletics’, which it published yesterday, and also includes lifetime bans for any [...]
Russian guests rack up a five-figure bill on their Christmas day January 10, 2016 FOR THOSE not in the know, Russia celebrated its own Christmas day last week, with a few of the capital’s wealthiest visitors racking up a very impressive bill at City eatery M’s Westminster outpost. A party of six headed straight for M’s members bar, starting as they meant to go on with six bottles of [...]
From star sign to net worth – here’s what makes a billionaire January 8, 2016 Foreign accent, a couple of yachts and probably a secret swimming pool filled with money in their basement: when it comes to the typical billionaire, most of us have a pretty clear idea of what they look like. But new analysis of the last 20 years of Forbes' World's Billionaires list has painted a picture [...]