The UK might have an ambassador for the Arctic – but what would they actually do? February 27, 2015 There will certainly be no fancy parties with circling plates of Ferrero Rocher – just freezing ice, which occasionally melts, and plenty of polar bears waiting for a meal. The Arctic is far from being the most pleasant place in the world, but its abundance of fossil fuels has attracted interest from countries around the [...]
European shares soar to seven-year high as Germany approves Greece bailout February 27, 2015 European markets soared this morning after Germany approved plans to extend Greece's bailout loan by four months – causing investors to shed concerns about a Grexit. For the time being, anyway. The German Bundestag approved Greece's bailout deal, which will prevent it from defaulting when its current programme of loans ends on Saturday. The FTSEurofirst [...]
Peter Hambro wins battle for miner’s rescue February 26, 2015 INVESTORS in Russia-focused gold miner Petropavlovsk yesterday voted in favour of the board’s proposed restructuring plan, rejecting an alternative proposal from activist shareholder Sapinda. The troubled London-listed miner will now proceed with a deeply discounted $235m (£152m) rights issue underwritten by founders Peter Hambro and Pavel Maslovskiy. Hambro. the chairman, said: “Our shareholders have voted [...]
Which countries would be affected if Vladimir Putin and Russia turn off the gas? February 26, 2015 Vladimir Putin could be considering closing the taps on Europe’s gas supply. Yesterday, Russia threatened to trim gas supplies to Europe in a matter of days, an action that could have a severe effect on the region. Although some countries have moved to cut their dependence on Russia, much of the continent’s gas is on the [...]
EU takes a stand against high Russian import taxes at the World Trade Organisation February 26, 2015 The European Union (EU) is upping its battle against high import taxes imposed on it by Russia. On Thursday, the bloc posted a request for the World Trade Organisation (WTO) to establish a dispute settlement panel over the matter, accusing the Kremlin of placing unreasonably high import duties on a wide range of products. [...]
The Lego Movie’s blockbuster gift lifts toy maker February 25, 2015 LEGO is aiming to build upon the success of the summer hit The Lego Movie and close the gap between it and the world’s number one toy maker Mattel. Lego’s bid for a larger chunk of the market was helped by it outperforming rivals last year and a stronger sales of toys aimed at girls, [...]
EU re-ignites investigation into anti-trust activities by Russia’s Gazprom February 25, 2015 The EU is about to get going with its huge anti-trust case against Gazprom, Russia's biggest energy company. Responsible for supplying the European Union (EU) with 30 per cent of its gas, Gazprom has been accused of breaching the bloc's rules through over-charging customers in eastern European countries, hindering the progress of rival [...]
Genus profits surge despite slowdown in Russia February 24, 2015 BULL AND pig sperm specialist Genus’ shares jumped almost eight per cent yesterday after revealing a 30 per cent rise in second-half, pre-tax profits. The overall increase came despite a decline in profits from its in Asia division, which has a high exposure to Russia which has suffered from sanctions and economic contraction. However, this [...]
Car parts maker GKN profits take a hit over pound February 24, 2015 Shares at car components giant GKN took a hit yesterday after its underwhelming results were blamed on a strong pound. Revenues at the company last year fell two per cent to almost £7.5bn as sterling took its toll through the company’s high exposure to foreign markets and cutbacks in military budgets. One area to show [...]
UK to send advisers to Ukraine – David Cameron February 24, 2015 Britain is to send military advisers into Ukraine for the first time, the Prime Minister has confirmed. Speaking to before a committee of MPs, David Cameron said the UK would send personnel to the stricken country to support government troops battling separatists. Britain, Cameron said, would be the “strongest pole in the tent.” The Ministry [...]