Proxima confirms it is in takeover talks with JKX Oil & Gas as share price rockets 57 per cent February 5, 2015 Proxima Capital Group has confirmed it is in “very early” talks with exploration group JKX Oil & Gas, after shares in the Ukraine and Russia-focused firm soared today. JKX's share price jumped more than 57 per cent shortly after midday today, and has since dropped back down slightly, although was trading up around 34 [...]
Can game theory save the Greeks from euro oblivion? Don’t count on it February 3, 2015 Game theory is a big topic in academic economics. Indeed, it is scarcely possible to graduate from a good university without exposure to its abstruse logic. So perhaps the Greek government, replete with economists, is using game theory to plan its tactics for the coming negotiations with its creditors. Or is Chancellor Merkel herself being [...]
Putin’s latest aggression is just smoke and mirrors: We must now call his bluff February 1, 2015 When we last left Vladimir Putin at the end of 2014, he was a cornered animal at bay, turning with teeth bared as the forces of the market relentlessly drew closer to him. But ever the creative tactician, the Russian President is seeking to – not for the first time – dramatically change the facts [...]
What does the UK think about other European countries? Russia has fallen in people’s estimations February 1, 2015 People in the UK feel more favourably towards northern European countries than others in Europe, while Russia is the country we look upon least favourably. Russia was the country Brits also looked upon most unfavourably two years ago, but the country has fallen in esteem even further since then. More than half of respondents said [...]
Rouble plummets against the dollar as Russian central bank makes shock cut to interest rates January 30, 2015 Russia's central bank has made a shock two percentage point cut to its benchmark rates of, lowering it to 15 per cent, which caused the rouble to plummet against the dollar, The currency slumped 1.2 per cent, sending it past the 70 per dollar mark. It's the first time it has slipped past that since December's [...]
Russian trading drags on ITE Group January 29, 2015 BRITISH trade show organiser ITE Group said like-for-like sales in Russia, its biggest market, have been running 20 per cent behind last year’s over the past two months. “Trading conditions in Russia have deteriorated over the past two months following the fall in oil prices and the consequent fall in the value of the rouble [...]
Supermarkets could be hit with 1pc turnover fine if GCA gets new powers January 29, 2015 Britain's largest supermarkets could face fines if up to one per cent of their annual turnover if they treat their suppliers badly. Business secretary Vince Cable has put the measures before the House of Commons which would give new powers to the Groceries Code Adjudicator (GCA). The regulator would impose the fine depending on the [...]
Diageo sales flat but second quarter improves January 29, 2015 The figures Half-year organic net sales were flat at Diageo, down 0.1 per cent, as volumes fell 1.9 per cent, in line with forecasts. Net profit was down 18 per cent to £1.7bn from £2bn for the same period last year. Sales in the US continued to be subdued with operating profit down one per [...]
Russia to launch £22bn economy rescue package January 28, 2015 RUSSIA is to commit 2.3 trillion roubles (£22bn) to a plan to support its sanction-hit economy. It comes just days after its debt was downgraded to a “junk” rating by Standard and Poor’s ratings agency. The government also plans to set up a bad bank to take on troublesome loans from the banking sector. The [...]
Ikea profits rise thanks to increasing American popularity January 28, 2015 The figures Ikea's net earnings in the last financial year remained rather flat(pack), rising just 0.4 per cent to €3.3bn (£2.47bn) for the 12 months ending 31 August. The world's biggest furniture maker actually increased growth in all sales areas. Revenue came in at a record €29.29bn, rising 2.8 per cent from €28.5bn a year [...]