ITE Group share price jumps as it shakes off Russia woes May 11, 2015 A sign of the times? Exhibitions and conferences business ITE Group, whose largest market is Russia and Ukraine, says it's back on form. The figures Alright, so the company's pre-tax profits fell 3.9 per cent to £17.5m in the six months to the end of March, while revenues dropped from £71.2m in 2014 to £56.1m. And net debt rose to [...]
Timeline to a Greek tragedy: How Syriza has fared in its first 100 days May 7, 2015 As one country goes to the polls to decide who will lead it for the next five years, another is taking a moment to reflect on the ramifications of its own choices: Syriza, the leftist party voted in during a snap election in January, celebrates its 100th day in power today. Given the party was [...]
Pieces of a failed Russian spaceship could fall down to earth on Friday May 6, 2015 Fragments of a failed Russian spacecraft are expected to fall to Earth later this week, according to space agency Roscosmos. The Progress resupply ship was sent up into space at the end of last month to deliver cargo to the International Space Station (ISS), but was unable to reach the correct orbit and went into an [...]
EU mulls McDonald’s tax probe: Margrethe Vestager considers investigation into sweetheart deals May 5, 2015 The EU’s competition commissioner Margrethe Vestager is considering adding McDonald’s to the list of companies being investigated over sweetheart tax deals. The Danish commissioner is weighing up an inquiry following claims by campaigners and unions of an alleged deal with Luxembourg that allowed the fast-food chain to massively reduce its tax bill on European sales. A [...]
Russia’s Rosneft keeps Sechin on with a £3.1m a year packet May 5, 2015 RUSSIAN state-owned oil firm Rosneft has revealed that chief executive Igor Sechin earns at least around 240m roubles (£3.13m) a year. The move comes just months after the county’s president Vladimir Putin encouraged greater transparency around wages. While the company did not reveal Sechin’s total pay, it said that he earns at least 15-20m roubles [...]
Bank of Russia cuts rates more than expected April 30, 2015 The Bank of Russia has cut rates more than expected, from 14 per cent to 12.5 per cent, citing “persistent risks of considerable economy cooling”. Although a cut was widely expected, consensus had put the reduction at one percentage point, taking the country's base rate to 13 per cent. Rates peaked at 17 per [...]
General Election 2015: Icap CEO Michael Spencer wants a balanced immigration policy and an end to wealth creator persecution April 27, 2015 ELECTION COUNTDOWN: 9 DAYS TO GO Every day until the final week of the election campaign, we ask a business leader to say what policies would entice them to vote for a particular party. MICHAEL SPENCER: CHIEF EXECUTIVE, ICAP ■ Focus on the Economy Since 2010 the UK economy has done much better than [...]
How traders can profit from the global grain price slump April 27, 2015 Declines in soft commodities may not last long. A glut of grains on the world market has meant plummeting wheat, corn, and soybean prices. Last year, great weather coincided with high levels of planting in key growing regions around the world, leading to record harvests. Some analysts had worried that sanctions on exports [...]
Oil prices hover close to a four-month high April 27, 2015 Oil prices edged closer to a four-month high in afternoon trading, as a slowdown in US production and escalating conflict in Yemen took their toll on supply. Brent crude rose to $65.37 per barrel in mid-afternoon trading, while WTI, the US benchmark, rose 0.77 per cent to $57.59. It's no coincidence the rise in prices [...]
Reckitt Benckiser beats expectations thanks to bumper sales of healthcare brands April 24, 2015 The figures Consumer goods giant Reckitt Benckiser (RB) has reported a five per cent rise in like-for-like sales, which hit £2.2bn during the first quarter. Health and hygiene enjoyed strong growth, with net revenue rising by 32 per cent and 42 per cent respectively in those categories. Why it's interesting A bad flu season (bad [...]