Mail.ru grows revenues but profits shrink amid Russian bear market August 21, 2015 RUSSIAN internet giant Mail.ru yesterday announced reduced profits before tax for the first half of the year, down 11.3 per cent from 7.99bn roubles (£76m) to 7.08bn roubles. Meanwhile the firm, which has 75.4m monthly users, reported increased revenues of 18.3bn roubles, up from 17.1bn roubles for the same period last year. Russia’s continuing economic [...]
Foreign secretary Philip Hammond travels to Iran to reopen UK’s Tehran embassy after nearly four years August 20, 2015 The UK will formally reopen its embassy in Tehran this weekend, almost four years after the building shut down after being stormed by demonstrators. Foreign secretary Philip Hammond will travel to Iran "in the coming days" to reopen the embassy. At the same time the Iranian embassy in London will be reopened, the Foreign Office [...]
The super-rich paying a £50,000 deposit to RENT in London August 20, 2015 With rising house prices placing home ownership out of reach for many and overseas investment rife, London’s lettings market is booming. But the commonly-painted picture of young professionals struggling to pay for their grotty house share in Dalston only tells one side of this increasingly complex story. For competition isn’t only fierce at the affordable [...]
Protests grow as Brazil’s crisis deepens: Impeachment threats make Dilma Rousseff’s future look uncertain August 19, 2015 Crisis is engulfing Brazil as hundreds of thousands of protesters have taken to the streets demanding the impeachment of President Dilma Rousseff, as the country slides into its worst economic crisis for 25 years. Protests have taken place across the country in the third major day of demonstrations this year, following unrest in March [...]
Mayfair sees fastest rent price growth in prime central London August 18, 2015 Mayfair is leading the way in prime central London rental price growth, a lettings agent said yesterday. Rents in Mayfair have shot up 7.5 per cent over the last 12 months, according to E J Harris. Prime central London has seen rents rise 4.1 per cent. The firm warned that prices are likely to keep [...]
Don’t fear low inflation: It’s great news for consumers while it lasts August 18, 2015 The latest retail figures in the UK showed good growth. Things are also looking up in the US and in much of the euro area. The world economy has settled into a period of steady growth with very little inflation in the major economies. Indeed, just yesterday, official figures revealed that consumer price index inflation [...]
The next crash: Why the global hotel boom signals probable disaster ahead August 17, 2015 It’s seven years since the last crash. We know there will be another one soon but where will it happen? Looking at the cranes in the sky has always been a reliable indicator. I remember surveying Reykjavik’s skyline in 2007 and wondering who was going to live in the fancy apartments being erected. Now they’re [...]
Jeremy Corbyn’s dangerous foreign policy would be a disaster for Britain August 16, 2015 I assume that soon-to-be Labour leader Jeremy Corbyn has more than a passing understanding of Lenin, if of little else. One of the Soviet revolutionary’s more piercing insights involves his belief that non-revolutionary members of the European left – or useful idiots, as he apocryphally put it – should be taken advantage of by genuine [...]
The West’s deal with Iran will result in a “nuclear holocaust”, says Donald Trump August 16, 2015 The Iran nuclear deal reached in July will have catastrophic consequences for the world, Republican candidate Donald Tump has warned. Read more: If a nuclear deal is reached, Iran will be bursting with investment opportunities – here's what to look out for In an interview with NBC's Meet the Press today, the billionaire Republican [...]
Coca-Cola HBC shares shoot up as profit fizzes August 14, 2015 COCA-COLA Hellenic, a leading bottler of the iconic beverage, beat forecasts yesterday to send its shares fizzing higher. The company sold just over one billion unit cases in the first six months of the year, it said yesterday. This marked growth of 3.8 per cent compared with the same period last year. It lifted its [...]