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 [...]
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 [...]