Chancellor George Osborne warns on dangerous threats to UK economy January 7, 2016 Britain's financial wellbeing could come under threat from global economic shocks, chancellor George Osborne will say today. “Last year was the worst for global growth since the crash and this year opens with a dangerous cocktail of new threats,” he will tell business leaders in Cardiff. Slowdowns in Brazil, Russia and China pose a major [...]
RSA Insurance Group share price drops as it completes on sale of Italy business January 4, 2016 RSA Insurance Group revealed today that it had completed the sale of its business in Italy. RSA sold its Italian business to ITAS Mutua, which is headquartered in Italy and provides 1.2m policies, after receiving regulatory approval. The firm's share price tumbled after the news was announced, dropping 3.4 per cent to 412p shortly after the [...]
The end of the West: 2016 is the year a new order begins to arise January 4, 2016 “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” Churchill, after the British victory at El Alamein This year will make it apparent to all but the most gormless that the comfortable, easy centuries of western dominance (under the Dutch, [...]
Ukraine gears up for London legal battle: Russia is taking its neighbour to court over an old political loan January 4, 2016 The tense standoff between Ukraine and Russia over a $3bn loan will enter its next stages in London as we head into 2016. Russia said at the end of last week that it will be taking Ukraine to an English court after the country failed to repay a $3bn bond due last month. The countries’ debt [...]
Russian rouble dives against the dollar as economic picture darkens December 31, 2015 The Russian rouble tumbled yesterday as concerns over a prolonged oil price rout stoked fears surrounding the country's economy. The rouble sank 1.2 per cent at Rbs73.15 against the dollar yesterday, taking it to a record low. It has since recovered somewhat, and was last up 0.1 per cent at Rsb73.9. Russia's economy is heavily dependent on oil [...]
Sterling outperformed four out of five currencies this year – but exotic holidays to the Seychelles and the Maldives became more expensive December 30, 2015 The strong performing UK economy, a global commodity rout and the economic slowdown in China led to sterling outperforming four out of five currencies in the past year, giving British holidaymakers more bang for their buck when they're abroad. The pound increased in value against 48 of 61 currencies, including the euro, Brazilian real, Turkish lira and Australian dollar, [...]
World’s largest economies: UK could overtake Germany and Japan to become world’s fourth biggest economy December 26, 2015 The strength of the UK's economic performance has been underlined as it was named the fifth biggest economy in the world for the second successive year and forecast to eventually overtake Japan and Germany. In its annual league table of world economies, the Centre for Economic and Business Research (Cebr) forecast the UK to become "the best performing economy" [...]
Blatter ban may prompt England World Cup bids December 22, 2015 Football chief Greg Dyke has confirmed that suspended Fifa president Sepp Blatter’s eight-year ban could pave the way for England to bid for the 2026 or 2030 World Cup. The Football Association (FA) ruled out another bid to host the tournament until the world governing body Fifa and its bidding processes had been reformed after [...]
Sepp Blatter and Michel Platini are finished, insists English football chief Greg Dyke December 21, 2015 English football chief Greg Dyke last night insisted that the eight-year bans handed out to outgoing Fifa president Sepp Blatter and his Uefa counterpart Michel Platini represented the end of the road for the disgraced duo. The pair were yesterday suspended from all football-related activity by world governing body Fifa’s own ethics committee after being [...]
EU extends Russia economic sanctions by six months December 21, 2015 The EU is extending economic sanctions against Russia by six months, it announced today. The sanctions, which were introduced in the July last year in response to Russia’s involvement in the annexation of Crimea in Ukraine, will stay in place until 31 July 2016. EU leaders linked the duration of the sanctions to the completion [...]