Syria crisis: Security Council adopt UN resolution for Syria peace process December 19, 2015 The UN’s Security Council has reached a rare agreement backing an international plan for a Syria peace process. The council adopted a resolution late last night, having previously been divided on the issue of the civil war that has ravaged the country for nearly five years, with China and Russia vetoing a number of Western [...]
Chelsea: Guus Hiddink flies to London but still undecided on replacing Jose Mourinho December 18, 2015 The favourite to replace Jose Mourinho as Chelsea manager has said he needs more information before committing to the club. Guus Hiddink, who successfully managed Chelsea on an interim basis in 2009, has been pictured at Heathrow airport after flying into London for negotiations with Blues owner Roman Abramovich. The Russian billionaire dispensed of Mourinho [...]
Ukraine won’t repay $3bn payment due to Russia this weekend December 18, 2015 Ukrainian president Arseniy Yatsenyuk has announced a "moratorium" on the payment of a $3bn (£2bn) bond due to Russia this weekend, effectively defaulting on the payment. In a televised appearance, Yatsenyuk said the two sides had failed to reach an agreement over restructuring its debt. On Twitter, he added: "From now on payments of debts [...]
Low-income commodity exporters will have a tough 2016, warns the IMF December 17, 2015 Low-income commodity-exporting countries face a struggle next year, the International Monetary Fund has warned. Commodity price falls this year have dented the growth of many low-income developing countries (LIDCs), and the IMF said the significant slowing of growth will carry over into 2016. The IMF said weak trade and worsening government finances underscored “the need [...]
Here’s how the Federal Reserve’s interest rate hike could impact the world economy December 16, 2015 As the Federal Reserve raised interest rates today, here's how economists think the US policy tightening will impact the world economy: Latin America Central Banks in Latin America are likely to begin hiking rates in response, according to Ian Shepherdson at Pantheon Macroeconomics. The Brazilian real has fallen 32 per cent against the US dollar this year, [...]
Tim Peake’s launch mission to the ISS is the start of a new era for the UK space industry as UK’s National Space Policy is announced December 16, 2015 All eyes have been on a desert in Kazakhstan this week. Baikonur Cosmodrome has seen the launch of the first human spaceflight, Sputnik and the first orbiting satellite. This week saw another first for this historic site, and a great leap forward for the UK space industry. Tim Peake has made his ascent to the International Space Station becoming the first [...]
Hold onto your hat: It’s Saxo Bank’s outrageous predictions for 2016 including the oil price, the US presidential campaign, euros vs dollars, Brazil, Russia and the end of the luxury sector December 16, 2015 Bored by predictions for 2016 that tentatively forecast interest rate rises and a slight dampening of the property market? Want something that will really make you prepare for the worst (or best) case scenarios out there? Well hold onto your hat, because it's Saxo Bank's annual outrageous predictions for the year ahead, and they are just [...]
Americans bring Thanksgiving to UK retailers as spending soars December 16, 2015 Black Friday’s online bargain frenzy may have dampened sales on the high street. But international shoppers helped to keep tills ringing, with spending up by 10 per cent in the year to November. The biggest jump in spending came from US tourists, up 55 per cent, despite still accounting for just five per cent of [...]
Turmoil: Analysts cut oil forecast as glut woes intensify December 15, 2015 Citi analysts are the latest to lower their expectations for the short term future of the oil price, predicting a “very weak first quarter”. The supply glut is now widely expected to run on well into 2016 due to Opec reiterating its dedication to unrestricted pumping, Iran charging into the market once sanctions are lifted [...]
Good news for UK consumers as research reveals food prices are expected to stay frozen in 2016 December 15, 2015 UK food prices will fail to grow again next year in a further boost to consumers, according to a new forecast. Food prices dropped 1.5 per cent in 2014 and are expected to fall again 3.1 per cent this year, Prestige Purchasing, a foodservice supply chain consultant, said today. Annual food price inflation had not been negative [...]