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 [...]
London house prices: Could the General Election outcome send the wealthy packing? April 23, 2015 London has a unique property market. Prime and emerging-prime areas of London are driven by people who move to larger and “better” located properties not because they really need to, but because they want to. Nothing soothes a burgeoning ego more than an SW3 postcode. Political rhetoric aimed at plundering this – apparently under-taxed – [...]
Gunners and United hit by seeding blow April 22, 2015 ARSENAL and Manchester United face tougher Champions League draws than in previous years after governing body Uefa amended rules for Europe’s top club competition. From next season the eight teams seeded for the group stage draw – and therefore shielded from other leading sides – will be comprised of the reigning champions and the winners [...]
Brussels serves formal antitrust charges against Gazprom April 22, 2015 After days of ramping up the pressure, the European Commission (EC) has finally served formal antitrust charges against Russian oil giant Gazprom. The decision is the culmination of a four-year investigation into Gazprom's power over gas supplies to eastern European countries. The EC accused Gazprom of overcharging its customers illegally and pushing out its rivals. [...]
Cold war over Russian energy as EU increases pressure on Gazprom April 21, 2015 Tensions between the West and Russia are expected to heighten further today when European Union anti-trust officials ramp up proceedings against state-owned energy giant Gazprom The new EU competition commissioner Margrethe Vestager is likely to deliver a formal statement of objections to the Russian energy giant. An investigation into the firm’s pricing policies was [...]
Q and A: EU talk tough with Gazprom and Google April 21, 2015 Q This EU Commission anti-trust investigation into Gazprom has been going since September 2012, why is it only acting on it now? A Sanctions against Russia over Ukraine, and a new competition commissioner, have given the issue new political impetus. Q What is Gazprom accused of doing? A The EU investigation centres around the allegation [...]
Rothschild signals intent to acquire Asian mining firm April 20, 2015 NAT ROTHSCHILD is considering making a joint bid for distressed Indonesian coal miner Asia Resource Minerals (ARMS). NR Holdings, a trust controlled by the British financier, and Russia’s Siberian Coal Energy Company (SUEK) are tipped to join forces and make a cash offer for the firm. “NR Holdings and SUEK are considering a possible cash [...]
Ed Davey forces Russian billionaire Mikhail Fridman to sell off North Sea gasfields April 20, 2015 Energy secretary Ed Davey has given the Russian tycoon Mikhail Fridman six months to sell off the North Sea gas fields. Davey notified Fridman’s LetterOne company of the decision yesterday, informing it that if the sale did not occur by the deadline he had set, the firm’s licenses in the North Sea would be revoked. [...]
Production flat but shares rise on Evraz tender April 20, 2015 RUSSIAN steelmaker Evraz, which counts Roman Abramovich as its majority shareholder, said production volumes remained flat in the first quarter yesterday. The company, which is chaired by the Chelsea FC owner, said consolidated crude steel output was stable at 3.9m tonnes with its mills at full capacity. The production of steel products, net of re-rolled [...]